How to profit from the dynamics of change and innovation
An example from The News Corp and Apple
"Business has two - and only two - basic functions: Marketing and Innovation."
Peter Drucker (author and management consultant)
I've been reading an article about the launch of 'The Daily' the Digital Newspaper by Mr Murdock, the media mogul. According to the reporter the, Zach Epstein in his article:News Corp announces 'The Daily' Feb 2nd, 2011, the reporter stated that the newspaper 'The Daily' is an "iPad-only newspaper"
What is the implication of this new product? For example the iPad is owned by very few - because of the cost.
What is the effect on the product life cycle and the adoption of this product.
First the idea for this new paper was to solve a problem of time for the busy professionals like the CEO's who have little time to turn the pages of dailies due to their work schedule. Hence these people, will be the 'Early Adopters."
But this only one aspect of innovation - creative problem solving. The article made the following point about the features of this collaboration in terms of operation between 'The daily ' and iphone.:
- new issues will be available 365 days each year
- The Daily will be interactive, packed full of 360-degree photos and original video content, and some articles will even be read aloud from within the app.
- Web-friendly versions of articles to share on Twitter, Facebook and so on.
- include crossword puzzles, Sudoku puzzles and customizable content such as weather forecasts and scores from your favorite sports teams
The has provided the opportunity to luanch the Apple’s new App Store subscription option for publishers, which will allow companies to build apps that serve subscription-based content.
The new functionality is only available on The Daily for the time being, but Apple VP Eddy Cue said an announcement on availability is forthcoming.
The point I want to make in this article is that when you bring a creative solution to situation it changes the dynamics ( the internal and external environments0 for the situation for good or bad. In this example of 'The Daily' the mre creation of this digital news platform powered by technology has created a lot of player who are willing to push this idea foraward through technology.
Technology drives innovation and innovation spreads quickly. The trend is that .the way we perceive, process and assimilate information is changing. Most spectators will be watching but what News Corp and Apple has done is the beginning of a new niche in the way we 'do news' It's a new way which will with time challenge and change the traditional market of 'paper' platform,
According to Tom Gorman in hisd book, "Innovation "Niche markets show the wisdom of thinking small. You can become the source or one of a very few sources, of a product for enthusiasts."
This is what is happening will this innovative approach of looking at newpapers by the news Corp taking advantage of the technologty provided by apple and th Social Network sites; to facilitate the marketing.
What are other players doing? Some will say to you it won't work. But if these market savvy organisations will sell their products to their customers in great number, which I'm sure they will then a revolution in information organisation has begun.