Technology isn’t just for creating new products and services. Disruptive technologies are transforming the packaging that comes with just about everything we buy. Imagine a day when you receive an alert from your refrigerator as you walk past 7-11 because the carton of milk at your home just expired. Or a day when you receive …
Scenario: WebCo, a company with about 200 contributors, was having trouble keeping projects on schedule. An analysis of the root causes showed that engineers worked long days. Many of these workdays included many meetings that were not about their highest priority project. The VP of Engineering suspected that her staff were getting stretched too thin. …
Q: What are the three most common questions doctors, scientists and engineers ask about their new ideas, inventions and discoveries? A: What do I do next ? How to I find money? How do I scale my business? The answers are to 1)set up and fail at conducting the right business model and experiment to …
Airbnb disrupted hotels. Now big travel and hospitality companies are going after the next disruptive innovation themselves before getting blindsided yet again. If you’ve followed my Inc.com column, you know I work with both big companies and start-ups around the world. My research, consulting and speaking give me a glimpse into the fledgling trends and upstarts that will one day …
The newly elected members of Congress don’t have to worry about working in an open space office environment. Instead, they cross their fingers and hope they get an office with a view. Those who are not running for reelection or lame ducks sit in cubes until the new sesion starts. Likewise, most employed physicians, including academic physicians, …
To meet ever-increasing growth objectives, established companies want to be more entrepreneurial. And the thinking goes like this – launch new products and services to create new markets, do it quickly and do it on a shoestring. Do that Lean Startup thing. Build minimum viable prototypes (MVPs), show them to customers, incorporate their feedback, make …
… and what to do with them once you have them. Surthriving in the brave new world of sickcare requires not just a new playbook, but players with new skill sets to execute the plans. Knowledge technicians are as obsolete as an NFL team with a running game but without a passing and special teams plan. Unfortunately, HR …
Scenario: a product development team at a medical device company had a testing phase that ran far longer than expected. This delay rippled throughout the project and had serious implications downstream. After the project was complete, the team leader wanted to go back and figure out why the test phase had not gone as planned. …
In the first half of the 20th century, Alfred Sloan created the modern corporation at General Motors. In many ways, it was based on the military. Senior leadership at headquarters would make plans, while managers at individual units would be allocated resources and made responsible for for achieving mission objectives. The rise of digital technology …
The IHI Triple Aim is to lower per capita costs, improve the quality of outcomes and improve the patient experience.Add the doctor experience and you have the quadruple ain. Some patient engagement and experience experts say there are 5 steps to making it happen: 1. Establish vision 2.Create a culture of engagement 3. Employ the right …
In the recession that followed the dotcom crash in 2000, the United States lost 5 million manufacturing jobs and, while there has been an uptick in recent years, all indications are that they are never coming back. Manufacturing, perhaps more than any other sector, relies on deep networks of skills and assets that tend to …
In my view, we are training too many MD/MBAs that don’t add value to the system and that many programs should be terminated or restructured. Also, more medical students are jumping ship to pursue non-clinical careers. While the numbers may a small portion of the roughly 20,000 first year US medical students, the trend is evident. Instead, …
I think “health administration” is an anachronism, since we have a sick care system masquerading as a health care system and the last thing we need is more administrators, rather than leaderpreneurs. Consequently, those offering programs to students interested in being health systems administrators offer courses and measure competencies designed to fight a phony war. Instead, they should be …
A bubble is an economic cycle characterized by the rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior. When no more investors are willing to buy at the elevated price, a massive sell-off occurs, causing the bubble to …