Download Achieving Longevity: How Great Firms Prosper Through by Jim Dewald, W. Brett Wilson PDF

By Jim Dewald, W. Brett Wilson

Starting a company is difficult, yet conserving a longtime corporation going might be both tough. in the end, each enterprise might want to adapt to altering marketplace stipulations, applied sciences, and aggressive environments. Achieving Longevity explains easy methods to deal with these alterations via entrepreneurial thinking.

As Jim Dewald indicates, the main profitable businesses thrive through developing decision-making approaches that consistently interact new possibilities, allowing the enterprise to quick adapt to disruptive applied sciences and company types. they permit for tinkering and experimentation and attempt to either take advantage of their aggressive virtue this present day and discover new principles that would supply them an area tomorrow.

Achieving Longevity offers a framework for introducing the instruments and tradition essential to foster entrepreneurial considering, in addition to suggestion on the way to conquer universal stumbling blocks to company entrepreneurship. Drawing on Dr. Dewald’s personal adventure as an entrepreneur, a profitable company government, and a professor of method, the publication deals a variety of examples of ways to mix the strengths of a longtime enterprise with the leading edge, outdoor the field contemplating a start-up venture.

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2 Spin-off innovations from the invention of the lightbulb from invention through to democratization can take years or decades; democratization then establishes a new paradigm that can span decades or centuries. As a stark example, consider that we are still actively exploiting new uses for the wheel (recall Taleb’s earlier comment about wheeled luggage). At the same time, we need to acknowledge that not all GPTs or life-changing inventions will affect us forever. Gutenburg’s mechanical printing press has largely been replaced with digital technologies, and steam engines gave way to internal combustion, which may give way to electrical or even hydrogen-­powered vehicles.

Just to be clear, invention and innovation are distinct terms in academic studies, whether economics, management, or technology based. 1 General purpose technology, innovation, democratization, exploitation, and commoditization5 100 90 80 70 60 50 40 30 20 10 0 1860 1875 1890 1905 1920 1935 1950 1965 1980 1995 Year Innovation Democratization Internal Combustion Telephone Distributed Electricity Exploitation Commoditization Electricity Telephone Auto new. Innovation describes the initial commercialization of an invention.

31 in Wonderland, identified this as the Red Queen syndrome – running as fast as you can to stay in the same spot. 8 Is society caught neck-deep in a race to the bottom? By stripping what we can out of our offerings, are we also eliminating systems of redundancy and resiliency so that we are no longer able to withstand shocks and black swan events? Leaving ourselves without tools to address unforeseen shocks is shortsighted if not irresponsible. This is where Taleb places the emphasis in his research and writings.

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