Finding the Next Big Thing

Madonna, Bruce Springsteen, Michael Jackson, Backstreet Boys, and some other fortunate superstars became the best from the 1980s to the 1990s and raised a lot of money to the music industry. But the times have changed. The CD is outdated, and illegal copying of music makes the industry go bankrupt. The music industry can not adapt to these changes and benefits from blindness with incomes above $ 8 billion. So with the arrival of the i-pod, digital downloads and the age of YouTube, the question of which big music company should choose the next big one when the cost of making a mistake puts them in bankruptcy.

In this article and its sequel, I will show you some ideas on how to accomplish this in three major areas for running a business innovation program. Team These observations are often difficult for companies, and the idea of ​​how victory is created is very close. Difficult: The difficult thing is that your solution is great. By doing well, it gets very big and companies that are hard to change are getting bigger and bigger. The problem is that Blockbuster Video is very good at tape placement, but Netflix breaks them by rethinking ways to fundamentally provide value to customers, not by successfully avoiding Blockbuster. BMW has a highly efficient gas engine and they are very good at making them better. Do you think they should focus now?

The company noticed that there was no money to earn money. So they are investing money in the research and development department and hope to find "next big thing". They are determined to find the next big product, and everyone wants it to come from their company. When new products are widely recognized by users, they change from indulgence to necessities, after which they are replaced with better products based on newer technologies. For consumers this is an exciting moment when innovative products create technology at an unprecedented speed, which enables us to create new products and categories. As a consumer, it is exciting to get countless products based on the latest technology. The faster consumers adopt products based on state-of-the-art technology, the faster companies try to use newer technologies to produce better products and continuous distribution.