THOUGHT FOR THE DAY

Transformation

“The universe is transformation; our life is what our thoughts make it.” - Marcus Aurelius

TOPIC OF THE DAY

Trend Hunting on the Periphery

The other week, I was in Beijing facilitating a company offsite. The company had absolutely no operations in Beijing, and no plans to start operations there. It is a disciplined operator, so this wasn't a junket either. So, what was the company doing in Beijing? It was smartly spending time at the periphery of its industry.

One of the challenges facing market leaders is that transformational trends are only obvious when it is too late. Transformation typically starts in seemingly disconnected industries, or as innocent offerings targeting completely different customer segments.

To spot transformational trends early, companies need to follow the guidance of Wharton professor George Day and long-time McKinsey & Co. thought leader (and current Innosight board member) Richard Foster: they need to experience the peripheries of their industry.

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