The Three Strategies for innovation.
Remember the three strategies I mentioned two weeks ago? This is how I prefer to map them visually.
Knowing that each product has a lifecycle, this chart shows what is happening to printed newspapers today. It is similar to what happened to analog photography and to the music industry some years ago.
1.) The Green area is where most companies are today. And this is also where they will die. I called this the NO PROBLEM strategy: complete denial.
2.) The Red area is where some companies are going today. Extrapolating the present. But be careful here: this area splits in half:
– The left part is EXTRAPOLATING the problem that no longer exists.
– The right part is what one could call the LONGTAIL.
3.) The Blue area is where real innovation and future employment resides. I called this strategy REINVENTING the problem.
Can you think of other examples?
(PS: thanks to @kodel for challenging me on this)