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Nine Short Innovation Lessons from Lego

Destination Innovation

Jorgen Vig Knudstorp joined in 2001 and was promoted to CEO three years later at the age of 36. David Gram, Head of Marketing at Lego’s Future Lab, said, “We only develop the few key features that are really needed. We throw it into the market and get feedback from consumers.”. They appointed a new CEO.

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Wikipedia – A Lateral Idea in Action

Destination Innovation

Encarta was discontinued in 2009 by which time a new and mighty competitor was dominating the market – Wikipedia. Wikipedia was founded by Jimmy Wales and Larry Sanger in 2001 as a web-based, free encyclopaedia. It was constructed on a remarkably lateral idea.

Policies 198
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The Next Supply-Chain Challenge Isn’t a Shortage — It’s Inventory Glut

Harvard Business Review

Electronics littered shelves in 2001 after the dot-com bubble burst. And now, the high-tech industry is feeling the weight of a volatile market that has led to excess component inventory. Inventory challenges aren’t new. In 2009, the financial crash left manufacturers with excess inventory when consumer buying power suddenly dropped.

Industry 144
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Summaries of the 50 Best Business Books

Destination Innovation

Would you like to have read the best 50 books on sales, marketing, leadership, innovation, entrepreneurship and self-improvement? Just imagine all the insights and lessons you would have learned and how that would have helped you in your business career. But how much time would it have taken?

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How to Boost Innovation by Recycling Existing Ideas

IdeaScale

First launched in October 2001, Apple ‘s portable music device has revolutionised how we all listen to and download music. This lightweight, technologically proficient reinvention of existing MP3 players was an global phenomenon that has since sold more than 400 million units since 2001. Take the iPod for example.

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So What Exactly Should Kodak Have Done?

Destination Innovation

In 1976 Kodak enjoyed 90% market share of film sales and 85% share of camera sales in the USA. Kodak entered the digital camera market late but by 2001 they were number 2 in the USA behind Sony. Between 1982 and 2001 Kodak spent more than $20 billion on R&D averaging about 6% of revenues.

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What Formula Made Steve Jobs as an Innovation Leader So Successful?

IdeaScale

Instead of custom Macs for dozens of different customer bases, Jobs laid down the rules that the company would focus on four products: One desktop model and one portable model for the personal consumer market and the business market. And until 2001, that was it.