Unexpected success: It requires people to treat it carefully. It requires the deployment of the best and most capable personnel instead of randomly removing people. It requires managers to give attention and support that match the opportunity.

unexpected failure

unexpected external events

Dissonance refers to the gap between the current situation and expectations, or the discrepancy between the current situation and assumptions.

Uncoordinated incident situations

Successful innovation based on process requirements must have five basic elements

special attention

Does it meet the three restrictions?

Market structures and industrial structures are quite fragile, and a small disturbance can quickly cause them to collapse. At the same time, changes in market structure and industrial structure are also an important opportunity for innovation.

Chance

When does the industrial structure change?

Important reminder: In the field of industrial structure and market structure, innovation must remain simple.

car story

Demographic characteristics refer to population size, population size, age structure, population composition, employment status, education status and income level

“The glass is half full”

Timing issue

Knowledge is not all scientific or technical. Social innovation based on knowledge is equally important, or even more important.

Characteristics of knowledge-based innovation

Requirements for knowledge-based innovation

unique risks

accept gambling

Successful innovators use both their left and right brains, and they look at numbers and people at the same time. They analyze the innovations needed to meet an opportunity, and then they go out and observe customers and understand their expectations, values, and needs

It should focus on the specific needs it can meet and the specific end results it can produce

But in all entrepreneurial strategies (i.e., strategies aimed at exploiting innovation), leadership must be achieved in a given scenario. Otherwise, it will just create opportunities for competitors.

Innovators are more intelligent than ordinary people. Innovators rarely work in two or more fields.

Innovation requires talent, ingenuity and qualifications. Once everything is in place, innovation becomes hard, focused, and purposeful work that requires extreme diligence, perseverance, and commitment, without which talent, ingenuity, and qualifications will become ineffective.

For innovators, this innovation opportunity must be important and meaningful. Otherwise, it will be difficult for them to continue to invest in the hard and difficult work necessary for successful innovation.

In fact, if the existing product or service cannot continue to generate large amounts of cash flow, the company will not be able to afford the large investment required for innovative activities.

The entire organization must clearly understand that innovation is the best way for the organization to achieve long-term development, and it is also the basis for managers to obtain a stable and successful career.

Approximately every three years, companies must conduct a comprehensive review of each product, process, technology, market, distribution channel, and even the work of each employee.

Innovation requires a lot of effort and the hard work of capable people (which is an organization's scarcest resource).

If the entire organization knows that if it doesn’t innovate, it will die, then only the “survivors” today will be willing and even eager to innovate.

To innovate, a company must free high performers from unproductive work to meet the challenge of innovation; it must also invest adequately in innovation

The development of existing products, services, markets, distribution channels, processes, and technologies has very limited health and life expectancy, and is often short-lived

The analytical approach used in Managing for Results is called "corporate X-ray" and is used primarily to find the right questions rather than to give the right answers.

Based on this, companies can formulate entrepreneurial plans with innovative goals and deadlines

Focus on problem solving one at a time

Another exploration focused on new opportunities

On the morning of the first day of the meeting, three or four senior executives reported on the outstanding performance of their departments as entrepreneurs and innovators in the past year.

They also need to report and succeed: What efforts did we make that proved successful afterwards? How do we spot opportunities? What did we learn? What plans do we have now for innovation and entrepreneurial prudence?

They can remove or reduce existing obstacles

They also foster the right attitudes and provide the right tools

However, innovation depends on people, and people are part of the organizational structure

This structure should design relationships with entrepreneurship at the center. It must ensure that all rewards and incentives, compensation packages, personnel decisions and strategies encourage rather than punish entrepreneurial behavior.

If the innovation fails, the person in charge of the innovation project has the right to return to his or her original job and enjoy the original remuneration.

When a new venture succeeds, typically its market is very different from the intended market; its products and services are different from those originally envisioned; its customer base is unexpected; and its end use is different than originally designed. many

Innovators’ vision has certain limitations

New business operators need to go out of the business and into the market, communicate with customers and sales staff, and listen to outside voices.

Innovative companies also need to continuously improve their products or services to bring greater utility and value to customers.

This is also the most serious problem faced by new startups in their early stages, and even if the startup survives, it may hinder its long-term development.

Financial crises can be effectively prevented

Growth requires nourishment

New businesses need cash flow analysis, cash flow forecasting and cash management

New start-ups need to establish a complete financial system to accommodate business growth

Managers of new ventures should pay attention to key areas and keep them in mind

When objective economic indicators, such as market research or demographic analysis, indicate that the startup's business will double within three to five years, the founder should build a top management team.

The founders and other key people in the business should jointly consider the key activities of the business: What are the specific areas in which the business depends on survival and success?

Key activities are derived from analysis of specific businesses

If an enterprise needs a management team but cannot have such a top management team, the enterprise may have two situations:

Startups should start building a senior management team before they need it

What am I good at?

What unique contribution can I make among all the needs of the business?

Only after thinking carefully about these two questions should founders ask:

Compared with the original innovators, entrepreneurs who use "creative imitation" have a better understanding of the significance of the innovation.

By the time creative imitators get going, the market has already formed and demand has been created

Pioneers must be successful

a rapidly growing market

There are risks inherent in this strategy, and the risks are significant

Creative imitation strategies may be more effective in high-tech fields

Because the creative imitation strategy aims to dominate a market, it works best with mainstream products, processes, or services: the market for personal computers, the global market for watches, or a huge market like painkillers

In order to compensate for risks, when implementing creative imitation strategies, one must be highly vigilant and flexible, and be willing to accept feedback from the market.

More importantly, you have to work hard and put in a lot of effort

American slang for "not invented by me"

Skimming the market, i.e. focusing only on high-margin areas

Superstitious "quality"

The close connection with "skimming" and "quality" is the illusion of "high price". "High price" can easily create competitors.

Strive to maximize rather than optimize

Leading companies ignore surprises, whether unexpected successes or unexpected failures

A new technology appears and develops rapidly, but the innovator of the new technology (or new service) is like a traditional "monopoly": using its leadership position to "skim" from the market and set "high prices"

When the market or industry structure changes rapidly

First, we need to analyze the industry we are in, and analyze the habits, especially bad habits, of manufacturers and suppliers, as well as their strategies.

Then, after paying attention to the entire market, try to find a breakthrough so that the alternative strategy can achieve the greatest success and encounter the least resistance.

requires a degree of real innovation

Strict location requirements for toll stations

The location of this toll station is difficult to find

Toll plaza locations also present serious limitations and risks

Once a company that adopts a toll booth strategy achieves its goals, the company is "mature"

A toll booth location may be indestructible, or nearly indestructible, however, it can only control a narrow area

There are three key points in the expertise strategy

While expertise strategies have unique advantages, they also have serious limitations

Like other ecological niches, specialized technology niches are limited in scope and time

Specialized technology strategies are based on products or services, and specialized market strategies are based on market expertise.

To discover a specialized market, examine a new development with questions

Like a specialized technology strategy, a specialized market strategy has the same requirements

Specialized market strategies also have the same limitations as specialized technology strategies

The more it starts from the user (considering the user's utility, value and actual situation), the easier it is for the entrepreneurial strategy to succeed

Entrepreneurial strategy belongs to the category of entrepreneurial decision-making, it is a kind of judgment