Retail It’s Time To Run (Not Hide) Towards Your Future

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While hurricanes and earthquakes overwhelm the headlines, an old friend the local retail store, continues on a long, predictable death spiral. The story is getting back page coverage. We are only 3 months away from the holiday season, historically the most lucrative moment for retail. The news suggests a not so happy holiday season. Toy’s R Us files Chapter 11 bankruptcy and Macy’s closes yet another 15% of its retail stores. This year has brought the closing of well-loved retail brands such as The Limited, Wet Seal and RadioShack. Wall Street is betting that things are going to get worse. […]

Open Innovation to Leverage Entrepreneurial Minds

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What is the problem? Corporations are very much at home with incremental innovation – often defined as ‘better sameness’. But disruptive innovation, i.e.; changing the playing field, is generally a bridge too far. Start-ups live at the edge. Disruptive innovation is their game. They have a flattened hierarchy and a shortened decision cycle. They focus on products versus process and view their organization as a ‘greenfield’; i.e.; not constrained by legacy people, process or technologies. The end result: speed to market of minimum viable products (MVPs). MVP comes with ‘build-test-iterate’ cycles that don’t wait for approvals or annual planning sessions. […]