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Friday, September 26, 2003
Radical, recombinative innovation: digital jewelry from Nokia.
It may look stupid to us now, but this is the kind of radically innovative strategy that is diametrically opposed to the one below. Nokia is extremely good at running all sorts of these little innovation experiments in massive parallel - searching a huge space fast, and at a low cost. And thus, usually discovering combinations of resources and capabilities that lead to much cooler products than their competitors offer.
Digital jewelry is kind of like the AIBO - seen from a strategic viewpoint, it is a unique, well-differentiated combination of resources Nokia has that lie at the intersection of appropriability (Nokia's ability to make money on this), scarcity (Nokia's unique ability to do this well), and demand (whether or not people want it). There are many other possible combinations of resources that meet this 'fitness' criterion - Nokia's talent is finding them better than it's competitors, by searching fast, in parallel, and recombinatively. Get it?! Good. Now do it in your firm.
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