“In the knowledge-creating company, inventing new knowledge is not a specialized activity—the province of the R&D department or marketing or strategic planning. It is a way of behaving, indeed a way of being, in which everyone is a knowledge worker—that is to say, an entrepreneur.”[1] Personally, the most capable organizations I have been a part […]
Improving Quality or Reducing Cost for On-Market Products
Reducing raw material costs, or investigating ways to scale up component manufacturing processes, are two classic approaches manufacturers focus on to drive down the cost of goods. In addition, there are other areas to consider for improving quality or reducing cost for established products through examination of their standard operating procedures. This is where we […]
Delivering Success in Strategic Planning: Talent Management
Over the past few weeks we’ve discussed various aspects of strategic planning, including clearly identifying the target market segment, focusing on what your company needs to do to win, establishing measures of success, and implementing management processes to develop, drive, and monitor action plans. Now, let’s turn our attention to the most important part of […]
The Magic of the Canvas
Both business and academic communities have embraced the concept of a one-page canvas as a way to conceptualize new ventures, create innovative designs, and teach entrepreneurial thinking. The popularity of the canvas approach has been sparked by Osterwalder’s Business Model Canvas (BMC) [1]. Introduced in 2010, the BMC has been widely adopted in entrepreneurship classrooms, […]
Commitment Starts with Understanding What You Are Signing up For
In talking about the last “C” of Clarity, Confidence and Commitment, I want to focus on the importance of trust and the power of knowledge over ignorance. As was pointed out in Scott Atkin’s last blog post, when attempting to encourage necessary innovation within an organization, it is not sufficient to simply say “Act entrepreneurially, let’s […]