The Innovation Show Gary Hamel: Leading the Revolution Part 2 Business Concept Innovation
In this episode of the Innovation Show, we dive into Chapter 3 of Gary Hamel's influential book, 'Leading the Revolution.' Gary, one of the early proponents of business model generation, discusses the concept of Business Concept Innovation and how it has reshaped industries over the years. We explore examples of companies like Dell and Apple, which have successfully implemented innovative business models, and we delve into the components of business model innovation, including customer interaction, strategies, and value networks. Gary also shares his insights on overcoming organizational inertia, fostering a culture of innovation, and the importance of rethinking conventional business assumptions. This episode is a must-listen for anyone interested in driving innovation within their organization and staying ahead of the curve.
00:00 Introduction to Gary Hamill Series
00:13 Business Concept Innovation
02:44 Examples of Business Model Innovation
04:41 Expanding the Innovation Horizon
05:49 Defining Radical Innovation
08:49 Challenges in Business Model Innovation
17:07 Importance of Deconstructing Assumptions
26:01 Executive Support for Innovation
37:46 Assessing Company Resources for Innovation
38:24 Challenges in Big Companies vs. Startups
38:38 Haier's Approach to Entrepreneurship
40:42 The Importance of Public Policy in Innovation
44:19 The Role of Government in Business Innovation
44:31 Decadence and Complacency in Organizations
46:03 Historical Examples of Efficient Government
50:46 The Need for Courageous Leadership
51:52 Activism and Innovation in Companies
53:27 Building a Resilient Business Model
56:42 Strategic Decisions in Business Models
59:21 The Importance of Customer Contact
01:03:44 First Mover vs. Smart Mover
01:07:44 Competitive Lockout and Choke Points
01:12:14 Preparing for a Rapidly Changing Economy
01:12:44 Continuous Learning and Personal Responsibility
01:14:03 Conclusion and Contact Information