Why Most Companies Renovate Instead Of Innovate
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User Rank: Author
1/22/2014 | 10:23:26 AM
Re: Are Uber And Hailo really putting taxi companies out of business
Innovation consultant Doug Stone offers a smart framework for looking at why innovation fails, and it's not just about existing companies playing it too safe. That protect-what-we-have approach is one side (what he calls "reliability mode," but the other is companies thinking like startups building new products but never getting around to crafting a solid business model (what Stone calls "eventuality mode").    

Here's a link to that analysis:
Thomas Claburn
Thomas Claburn,
User Rank: Author
1/21/2014 | 4:32:51 PM
Re: It's a nice idea, but...
>It's often way too discouraging to actually innovate.

And it's risky for existing employees and managers. People are fired for initiatives that misfire. Not so for initiatives that never happen.
Shane M. O'Neill
Shane M. O'Neill,
User Rank: Author
1/21/2014 | 1:35:38 PM
Re: Are Uber And Hailo really putting taxi companies out of business
You're right, Uber and Hailo aren't putting taxi co's out of business yet, but they have definitely disrupted the market. They are eliminating the need for dispatchers and have made a dent in corporate accounts that were once aligned with one taxi company. Employees now could use an Uber or Hailo corporate account -- or a personal one and expense it -- to order a Lincoln towncar (Uber) or the nearest taxi (Hailo). Personally, before using Hailo I would always call the same taxi company (Boston Cab) and order a taxi. Now I tap the Hailo app and take the first taxi that responds. It doesn't matter to me which taxi company it is. That kind of loyalty has been upended.
D. Henschen
D. Henschen,
User Rank: Author
1/21/2014 | 1:13:14 PM
Are Uber And Hailo really putting taxi companies out of business
Call me a skeptic, but I see Apple, Netflix and Amazon no incrementally renovating and augmenting around their original innovation themes. The list of one-time big breakthroughs is much longer than the list of companies really innovating over and over again. I'd also submit that some innovation themes are overstated. From what I can tell, the list of failed Uber and Hailo copycat apps is much, much longer than the list of taxi companies going out of business because they're not hip to mobile opportunities. In short, don't discount innovation, but don't expect too much from it, either.
IW Pick
User Rank: Ninja
1/21/2014 | 10:11:34 AM
It's a nice idea, but...
This always gets me, since yes, every company wants to innovate and bring forth the latest and greatest idea.  They want to be the next 3M with the Post-it note. The problem is, have you actually ever tried to innovate in a company? I find the larger the company, the harder it is to actually get an idea heard and implemented.  From the 101 controls in place to crush all innovation, especially from product development and forecasting, to getting senior level buy-in, this is why so many folks are starting their own companies.  It's often way too discouraging to actually innovate.

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