I do not have time to read a lot of business books, but this one is a gem. http://www.claytonchristensen.com/books/the-innovators-dilemma/ In this revolutionary bestseller, Clayton Christensen demonstrates how successful, outstanding companies can do everything “right” and yet still lose their market leadership – or even fail – as new, unexpected competitors rise and take over the market. Through this compelling multi-industry study, Christensen introduces his seminal theory of “disruptive innovation” that has changed the way managers and CEOs around the world think about innovation.
While decades of researchers have struggled to understand why even the best companies almost inevitably fail, Christensen shows how most companies miss out on new waves of innovation. His answer is surprising and almost paradoxic: it is actually the same practices that lead the business to be successful in the first place that eventually can also result in their eventual demise. This breakthrough insight has made The Innovator’s Dilemma a must-read for managers, CEOs, innovators, and entrepreneurs alike.
- See more at: http://www.claytonchristensen.com/books/the-innovators-dilemma/#sthash.iIMhru1I.dpuf
From the wireless industry in healthcare one glaring example of the WMTS versus Wi-Fi model. Hold onto to your market share with legacy technology.
The most recent enterprise paradox is the move from magnetic strip in credit cards in the U.S. payment system to chip and pin. This is thirty year old technology and forces the enterprise to adopt new proprietary infrastructure. Do we not have NFC (Near Field Communications) and Low Power Bluetooth built into our smart devices? Why could POS (Point of Sale) terminals use the same forward thinking technology? So the next time you see the Point of Sale terminal (saying they cannot accept chip and pin), ask why? ($$). Nice way for those companies to keep the enterprise continually in the proprietary mode, while making a ton of money Here are some interesting statistics. Just look at the cost numbers!
The estimated number of credit and debit cards that have to be upgraded to chip cards
1.2 billion
How many POS (point of sale terminals) that have to be upgraded to accept chip cards.
15 million
The estimated cost of replacing the 15 million POS terminals with chip-card compliant terminals
$6.75 Billion
The average cost of a EMV compliant point of sale terminal?
$500-$1000
What is the average cost or EMV or chip card?
$3.50
Number of merchant locations ready to accept EMV payments (end of 2015) ?
37%
