Stay curious, my friends.
I enjoyed doing this segment with Jeff Lahens, my former business partner, and Jarvis Green, good friend and 2X Super Bowl champion with The New England Patriots… now owner of Oceans 97.
This is a term that describes when an incumbent gladly gives up a lower-end part of the market because the company is motivated to move up market. The motivation to flee is most often fueled by higher gross margins. This is often called “flying under the radar”. For more on this term, read here. http://hbswk.hbs.edu/item/the-innovators-battle-plan.
Managing the Strategy Development Process.pdf
By the end of this module, you will be able to:
This."No muscles without strength, friendship without trust, opinion without consequence, change without aesthetics, age without values, life without effort, water without thirst, food without nourishment, love without sacrifice, power without fairness, facts without rigor, statistics without logic, mathematics without proof, teaching without experience, politeness without warmth, values without embodiment, degrees without erudition, militarism without fortitude, progress without civilization, friendship without investment, virtue without risk, probability without ergodicity, wealth without exposure, complication without depth, fluency without content, decision without asymmetry, science without skepticism, religion without tolerance, and, most of all: nothing without skin in the game." ~ Nassim Nicholas Taleb
When a system operates optimally, when interacting with individuals or groups who mirror the makeup of its creators; yet suboptimally otherwise.
"I think that the key reason people follow retailers and brands on social media is for reasons of lifestyle projection. Either the consumer is living, or wants to live, the brands ideals. For grocers, this would be things like healthy living and sustainability. With the brand ideals as the backdrop, consumers will become sticky if the social feed is educational, informative, entertaining, will save them time and/or money or is otherwise a utility — very much similarly to why consumers want and keep a mobile app installed." ~ Shawn Harris
Retailers are feeling significant pressure as digital takes a greater and greater hold of the industry. Many say that digitization actually brings demonetization. This will result in a massive shift in the share pie for retailers. What once was a great traditional retail business, will become a much smaller primarily online business. I thought I'd take a stab at visualizing that. Thoughts?
"When people talk about Zappos, it’s not just about the great pair of shoes they scored, but the awesome customer service they received. It truly has become a tangible asset that is synonymous with the Zappos brand. In extending the brand to hotels and beyond, the customer satisfaction bar will be set high. Execution will be key to protecting the brand’s equity. Also I could see some Amazon (the parent company) products and services being a part of this." ~Shawn Harris
I believe that 97.5 percent of today's traditional retailers will NOT survive the earthshaking transformation that is currently occurring in their industry. Changes in the customer shopping behavior and preferences, rise of on-line shopping, local and state government push to increase minimum wage, and uncertainty in the global economy have placed quite a few obstacles in front of retailers.