KAY PLANTES
MIT-trained economist Kay Plantes is a strategy consultant and author of Beyond Price: Differentiate Your Company in Ways that Really Matter (Greenleaf Book Group, 2009). She writes a blog on business model innovation at plantescompany.com/blog.
Kay Plantes never thought toilets could be so interesting. During a recent trip to China, she realized that they provide a rich example of thinking beyond one product when pursuing innovation.
It used to be that "systems thinking" was a specialty reserved for a select few intellectuals. Now that it's clear every element of our work is part of a larger system that visibly and invisibly shapes our individual and organizational opportunities and risks, it's time for all us, and especially those looking towards innovation, to become systems thinkers. Why? Understanding system dynamics provides insights into where innovation will have a high payback, explains Kay Plantes.
Marketing guru Seth Godin, in his book We are All Weird, argues that the age of mass markets is over. Furthermore, the alternative to mass is not niche, but weird.
Is the world turbulent and hard to predict or changing in discernible ways? Two prominent strategists have different views, but draw similar lessons for business leaders.
Do you have a strong portfolio of business models? One business model that is currently succeeding isn't enough, warns Kay Plantes.
Kahn Academy is in the process of disrupting the long-staid textbook publishers market and K-12 education. This school is a stellar example of how any business today can thrive by capitalizing on trends that are opening markets for non-traditional competitors.
Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.
A compelling example from the commercial construction industry showcases the power of business model innovation to transform your business.
One of the few ways left for companies to protect their margins is through business model differentiation. According to Kay Plantes, business models have become the new basis of competition, replacing product features and benefits as the playing field on which companies emerge as dominant or laggards.
