Business Models

Business Plans Don’t Work

Brendan-Coram1

Nine out of ten business start-ups, and one in six business transformations will confirm it. Learning from the failures of the past, it becomes clear that we have been missing a key step in the execution of our business plans. That key step is the discovery of what works. In this three part series, I’ll look at the way in which business plans lead to failure, the way in which business model innovation can help, and the mindset that is needed to succeed in discovering a new path towards business success.

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Innovation Lessons from the Outcome of the Netflix Prize

prize

You probably heard about the contest that Netflix started in 2006 to crowdsource improvements in their recommendation algorithm. They offered a $1 million prize to anyone that could improve the accuracy of the recommendation algorithm by at least 10%. In 2009, a team of people hit the target, and won the prize. Awesome, right? The team got their big check, Netflix got their performance improvement, and everyone ended up happy. Well, sort of.

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Innovation Insights WEF Latin America 2012

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The seventh World Economic Forum on Latin America took place in Puerto Vallarta, Mexico, on 16-18 April 2012. The meeting, held under the theme “Regional Transformation in a New Global Context”, convened a record number of participants for this regional gathering, with close to 900 top regional and global leaders from 70 nations.

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