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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Pip Coburn's book: "The Change Function: Why Some Technologies Take Off and Others Crash and Burn".
This complete summary of the ideas from Pip Coburn's book "The Change Function" shows how launching new technology is a high-stake business: failure is expensive and success lucrative. Often failure or success is not predicated on the technology itself, but on whether its developers are supplier-centric or user-centric. In his book, the author suggests a new model for the research and development of new technology. Ask yourself what customers really dislike doing, and how you can change your current products to make them more painless. He uses case studies of failures and successes to demonstrate what they did wrong or right, and explains that there are 10 questions every developer should ask whilst in the research stage.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The Change Function" and discover how you can achieve technological success with methodical strategies.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 38
Veröffentlichungsjahr: 2014
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Book Presentation:The Change Functionby Pip Coburn
Book Abstract
About the Author
Important Note About This Ebook
Summary ofThe Change Function(Pip Coburn)
1. The essential concepts underpinning the change function
2. Case studies –Technology winners vs. Technology failures
3. The ten questions every technology developer should be able to answer
4. How to put the change function into action
Book Presentation:The Change Functionby Pip Coburn
Book Abstract
MAIN IDEA
Why do some new technologies succeed in the marketplace while others fail? Billions of dollars in expenditure ride on this question as does the possibility of being able to get in on the investment ground floor of a future mass consumer success story.
The key to answering this question does not lie in determining whether or not the new technology is technically superior. Instead, it rests squarely on the mindset of those who are developing the new technology. Most industries have a supplier-centric mindset but successful products generally emerge from the application of a user-centric mindset instead.
Suppliers believe “if they build it, the users will come”. They therefore consistently work at improving their technology. Eventually, they get so far ahead of their customer’s needs they end up offering solutions looking for problems to solve.
Customers are prepared to adopt new products only when and if the pain of adopting the new solution is less than the pain of putting up with their current problems. They don’t care about technology per se, just solutions to their problems.
If companies will spend less time and effort trying to develop new technology just because they can and instead put more resources into finding out what consumers actually want, then it stands to reason their chances of introducing new technologies which consumers will actually buy will increase.
About the Author
PIP COBURN is the founder of his own advisory services firm, Coburn Ventures, and the manager of his own hedge fund. Mr. Coburn typically writes 300 reports every week about technology investing and change. Before starting his own company, he was managing director and global technology strategist for the technology group of UBS Investment Research. Prior to that, Mr. Coburn was a senior vice president at Lynch & Mayer, a New York institutional money manager. Mr. Coburn is a graduate of Brown University and the Wharton School at the University of Pennsylvania,
The Web site for this book is atwww.coburnventures.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary ofThe Change Function(Pip Coburn)
1. The essential concepts underpinning the change function
The technology industry has an in-built problem which everyone is trying to ignore. Fully 75-percent of the billions of dollars spent annually on developing new whiz bang technology gets canned before these products ever see the light of day. Some people believe this is the free markets at work, but if a more efficient way to develop new technologies could be found and applied, billions of dollars of wasted expenditure could be applied more beneficially to growing the world’s economy instead. Equally, by applying change function thinking, it also becomes possible to identify those emerging new technologies worth backing in early-stage investments. This is a great litmus test for potential investors.
“Despite the best efforts of remarkably talented people, most attempts to create successful new products fail. Over 60 percent of all new product-development efforts are scuttled before they ever reach the market. Of the 40 percent that do see the light of day, 40 percent fail to become profitable and are withdrawn from the market. By the time you add it all up, three-quarters of the money spent in product development results in products that do not succeed commercially.”
– Clayton Christensen, author, The Innovator’s Solution
Most high tech industries accept failure as a necessary part of progress. These technologists tend to look at the breakthrough products and claim the system is working just fine. They assume that more is better and that the way forward is to develop such incredible technology users cannot help but be impressed. High-tech looks to two well enshrined laws to help it keep moving forward over time:
Gordon Moore’s Law
