Tag Archives: Wal-Mart

This Is How Your Business Will Be Disrupted

Disruption Ahead

The principles of running a business are fairly straightforward. You create clear objectives, achieve them efficiently and try to get better as you go. Business school professors have fancy names for this stuff, like “strategic DNA,” “core competencies” and “continuous improvement,” but in a nutshell all that stuff means is that you try to do things better, faster and cheaper. The ...

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A Lifetime of Innovations

I heard a great story this week about the history of Lifetime Products and how a family member laughed at the founder of Lifetime Products at a trade show demonstrating their first product, repeatedly saying “The basketball hoop goes up, the basketball hoop goes down.” Well twenty years later, he's eating his laughter...

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Failure Forums: Learning from Best Buy Media Label 'Redline Entertainment'

With every disruptive innovation project there are mountains of unknowns. A team can have a good plan in place but without all of the pieces assembled together it is almost impossible to test each individual hypothesis. This fact is what makes disruptive innovation projects so risky with a high failure rate. This is the story of Best Buy's failed attempt to enter the Entertainment Media Label business and one leader's insistence on making sure that the organization learned from their mistakes.

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