From Business Rhythm with Frank & Jamie – “Innovation serves as a powerful means to drive business growth in today’s challenging economic environment and information driven marketplace. Companies must not only figure out what their current sources of competitive edge and examine their business strategies, but they must also find new ways to innovate and revamp their business models to sustain competitive advantage. In today’s podcast, we will discuss how business executives can organize and lead for innovation. “
From Stanford Business – “In the world of entrepreneurial incubation, design thinking, a user-centered way to conceive and create a successful product, is often compared and contrasted with the lean startup approach, which is more engineering-based and quantitative. The two methods are far from mutually exclusive, however, as both seek to effectively serve customers’ needs through a systematic, low-risk path to innovating in the face of uncertainty.”
From Business Rhythm with Frank & Jamie – “According to the World Economic Forum, impact investing is not an asset class but a specific approach to investing. To be more precise, impact investing has two elements. First, it aims to target both impact, whether it is development, social or environment, and financial returns; and second, it involves the active the measurement of both impact and financial returns.”
From Knowledge@Wharton – “That last question may seem odd, but not to the researchers at the Penn Social Media & Health Innovation Lab at the University of Pennsylvania. Director Raina Merchant and her team are investigating how people’s social media language on sites such as Facebook, Twitter and Yelp can be used to assess and their health and predict diseases. The conditions they are looking at are some of the main culprits for premature death and disability (not to mention skyrocketing health care costs) in America, including heart disease, diabetes, hypertension, obesity, chronic lung problems, depression and drug abuse.”
From Inc Magazine – “Richard Montañez was born in Mexico and grew up in Guasti, a small town close to Ontario, California, picking grapes with this family. They would have dinner at the communal table in the kitchen they shared with six other families. As a child, Richard had no idea that he was poor.”
From Knowledge@Wharton – “Travel writer Eric Weiner argues that creative genius can sometimes be closely tied to place. In his new book, Geography of Genius: A Search for the World’s Most Creative Places, from Ancient Athens to Silicon Valley, he takes readers on a journey to explore the times and places that have had ‘genius clusters.’
From Insights by Stanford Business – “When someone has a new idea, who’s in the best position to predict whether it’ll be a hit: the creator of the idea, or the manager in charge of evaluating the idea? It turns out the answer is ‘neither,’ according to research by Justin Berg, a professor at Stanford Graduate School of Business. He studies ‘creative forecasting,’ or the skill of predicting the success of new ideas. Berg’s research suggests that even with all their knowledge and experience, managers are usually not the best at predicting the success of a new idea, nor is the creator of the idea. Instead, the best judges are peers of the creator, who have spent time generating their own ideas, but not the idea in question. The research by Berg will be published in a forthcoming issue of Administrative Science Quarterly.”
In this episode, we will discuss one of the questions posted by one of our followers in Business Mango’s Facebook Page. The question asks about the pros and cons of doing business with a franchise versus starting your own business.