For the past four years, I have been surveying my business audiences, asking them if they have seen or played any of the X-Box video games. At this point in time, I estimate the total surveyed audience to be about 300,000, and out of that, only about 5% have seen one of these powerful computers at work. Keep in mind that I usually talk to business leaders such as CEOs, CFOs, CIOs, as well as VPs and sales leaders from Fortune 500 companies. In other words, the leadership of today’s major corporations is unaware of the power that is in the hands of our youth.
After I survey each audience, and we all see that only a few hands went up, I give them a homework assignment: get together with a kid and play one of the new video games. And then I give them their motivation. I tell them that while they are playing, think X-Box for business. Why? Because businesses spend large sums of money on training and education and any tool that can accelerate or enhance learning would save both time and money.
Last month, I described the results of twenty-three years of my observation, research, and experimentation into how to enhance learning. The breakthrough insight is that there are five elements that can dramatically accelerate learning. The learning experience needs to be immersive, interactive, fun, game-like, and competitive. This combination causes the learner to function at a very high level of concentration and focus, and learning is dramatically enhanced. All five of these aspects can be accomplished by partnering with today’s video game companies to turn corporate education and training programs into new interactive video games for business.
X-BOX COMPATIBLE WITH BUSINESS
The beauty of using the X-Box 360 is that it is both inexpensive and widely available. It will easily integrate with enterprise computer systems because the new Windows operating system Vista, as well as Office 2007, uses the same XML language as the X-Box. This means that there will be no problem in getting the game player to work with business computing systems.
Thursday, December 07, 2006
Monday, November 20, 2006
X-BOX For Business & Education (Part I)
The recent launch of the Sony Play Station 3 video game player has generated a lot of buzz due to the fact that it has the computer processing power of a multi-million-dollar supercomputer from six short years ago. However, the year-old X-Box 360 video game player from Microsoft is not only a computing powerhouse, it is far better positioned than the Sony to be used to revolutionize training and education.
How can a kid’s toy revolutionize education and be used by business? Think of it this way. The games our kids (as well as a relatively few adults) are playing take them into a highly immersive, interspatial, 3D world where they often play very intensive and sophisticated strategy games. They learn how a wide variety of tools operate, in many cases weapons, futuristic vehicles, and various machines, and they develop strategies and tactics they can use to win the game. And, they don’t do it alone! You will often find them wearing a head set, collaborating with teammates from all over the world. In addition, they can now use a video conferencing feature to see the people they are collaborating with in real time.
A BACKWARDS TIME MACHINE
After spending hours of concentrated time playing in this advanced 3D learning environment, our kids go to school, stepping into what must seem like a backwards time machine.
In China, India, and other countries with rapidly developing economies, millions of families are migrating from no-tech rural areas to the cities in search of opportunity. When their kids enter the classroom, they feel as if they are stepping into the future, and opportunity. Of the two groups - industrialized nations and developing nations – which group of students is more motivated to learn in school?
AUTOMATE AND HUMANIZE EDUCATION
In 1983, I predicted that shortly after the turn of the century, technology would allow us to automate education and humanize it for the first time in history. I went on to explain in my prediction that automation seems to be the opposite of humanization, but it doesn’t have to be! The key in this case is to automate the parts of education that are not fit for a human to teach.
For example, anyone who has ever tried to teach a kid how to multiply knows that that job isn’t easy for a human. Teaching a kid what an adverb is can give you a twitch in your face. Teaching basic subjects like these would have been much more efficient, and effective, if the student would have used an interactive electronic game that was self-diagnostic, fun and competitive. They would learn how to multiply and all about adverbs, and the teacher would then have been freed to teach the higher levels of the cognitive domain, such as analysis, problem solving, and synthesis. That is what teachers went into education for in the first place, but they get bogged down teaching the lowest level of the cognitive domain and often burned out. My old predictions time has finally come.
FIVE KEYS TO AUTOMATING EDUCATION
Over the past twenty-three years of research and experimenting, I have found that there are five elements that can accelerate learning. If the experience is immersive, interactive, fun, game-like, and competitive, the learner stays at a high level of concentration and focus, and learning is dramatically enhanced.
Microsoft already has an education division, and they have a division devoted to X-Box video game development. In addition, the hardware is low cost and many kids already own one at home. All they would need to do is create games for education that take advantage of X-Box capabilities.
How can a kid’s toy revolutionize education and be used by business? Think of it this way. The games our kids (as well as a relatively few adults) are playing take them into a highly immersive, interspatial, 3D world where they often play very intensive and sophisticated strategy games. They learn how a wide variety of tools operate, in many cases weapons, futuristic vehicles, and various machines, and they develop strategies and tactics they can use to win the game. And, they don’t do it alone! You will often find them wearing a head set, collaborating with teammates from all over the world. In addition, they can now use a video conferencing feature to see the people they are collaborating with in real time.
A BACKWARDS TIME MACHINE
After spending hours of concentrated time playing in this advanced 3D learning environment, our kids go to school, stepping into what must seem like a backwards time machine.
In China, India, and other countries with rapidly developing economies, millions of families are migrating from no-tech rural areas to the cities in search of opportunity. When their kids enter the classroom, they feel as if they are stepping into the future, and opportunity. Of the two groups - industrialized nations and developing nations – which group of students is more motivated to learn in school?
AUTOMATE AND HUMANIZE EDUCATION
In 1983, I predicted that shortly after the turn of the century, technology would allow us to automate education and humanize it for the first time in history. I went on to explain in my prediction that automation seems to be the opposite of humanization, but it doesn’t have to be! The key in this case is to automate the parts of education that are not fit for a human to teach.
For example, anyone who has ever tried to teach a kid how to multiply knows that that job isn’t easy for a human. Teaching a kid what an adverb is can give you a twitch in your face. Teaching basic subjects like these would have been much more efficient, and effective, if the student would have used an interactive electronic game that was self-diagnostic, fun and competitive. They would learn how to multiply and all about adverbs, and the teacher would then have been freed to teach the higher levels of the cognitive domain, such as analysis, problem solving, and synthesis. That is what teachers went into education for in the first place, but they get bogged down teaching the lowest level of the cognitive domain and often burned out. My old predictions time has finally come.
FIVE KEYS TO AUTOMATING EDUCATION
Over the past twenty-three years of research and experimenting, I have found that there are five elements that can accelerate learning. If the experience is immersive, interactive, fun, game-like, and competitive, the learner stays at a high level of concentration and focus, and learning is dramatically enhanced.
Microsoft already has an education division, and they have a division devoted to X-Box video game development. In addition, the hardware is low cost and many kids already own one at home. All they would need to do is create games for education that take advantage of X-Box capabilities.
Friday, October 13, 2006
The Trust Factor
As you might guess, I review a variety of electronic newspapers and news sources every day, but after all these years, I still enjoy reading a traditional print version of the morning paper with that first cup of coffee. It might be because I spend so much time every day looking at a computer screen, that I just want to start the day unplugged, moving more than just my eyes.
A little over a month ago, the local newspaper I subscribe to sent me my annual renewal form in the mail. The annual renewal price was $190. I was in the middle of a speaking tour and didn’t have time to respond to the renewal notice. Another few weeks went by and then I received the marketing call. They said; “We noticed you did not renew your paper this year. If you renew now, it will only cost you $90. That’s a savings of $100. Will you renew now?”
I said yes. They didn’t know it, but I would have renewed at the usual $190; I was just too busy. There is something else they obviously don’t know. I will never trust them again. In just a few sentences, they taught me to never pay the bills they send me, because if I do, I’m ripping myself off.
THE REAL LESSON
I’m sure this is not what the management at the local paper wanted to teach me. How do mistakes like this get made? The answer is simple. We “assume” trust is there because we see organizations and ourselves as being trusting and trusted. Because trust is assumed in all that we do, we often fail to consider if our actions will undermine trust. In this case, the local paper taught me not to trust any of the offers they send me in the mail. I now know, there will be a better deal if I take no action and wait for the better offer.
NEVER ASSUME TRUST
Anytime you are introducing something new, a change of any kind, ask yourself what will happen to trust if you do it in this way? If the answer is that trust will go down, don’t do it in that way. I didn’t say don’t do it. I said don’t do it in that way. Change how you do it so that trust is maintained. And, if anyone in your organization can find a way to increase trust, reward those people openly because you will want that behavior repeated.
Another strategy would be to say they are offering me a one-time-only offer to renew at a reduced rate and this price would not be offered again. By emphasizing the one-time-only aspect of the offer, it is less likely to be seen as a rip off.
HOPE IS NOT A STRATEGY
There are millions of AOL customers today who have a broadband connection and are still paying $21.95 per month for e-mail and access to their content. Millions have called to cancel and were then offered $19.95 per month for the same service. If they said no to that offer, they were then offered $5.95 per month. If this happened to you, how would you feel? My guess is that you would wonder how long AOL had been ripping you off at $21.95 per month. Trust would be undermined.
About a month ago, AOL decided to offer their e-mail and content service for free allowing them to better compete with Yahoo! and Microsoft’s free services. Did AOL notify any of their customers who are still paying $21.95, $19.95, or $5.95? No! Instead, they are hoping that they don’t ask so they can keep collecting the money. My guess is that the remaining, long-standing, loyal AOL customers will eventually find out, feel ripped off, and leave AOL forever. Is this what AOL really wants? I don’t think so.
The moral of this story is: never teach your customers to distrust you.
A little over a month ago, the local newspaper I subscribe to sent me my annual renewal form in the mail. The annual renewal price was $190. I was in the middle of a speaking tour and didn’t have time to respond to the renewal notice. Another few weeks went by and then I received the marketing call. They said; “We noticed you did not renew your paper this year. If you renew now, it will only cost you $90. That’s a savings of $100. Will you renew now?”
I said yes. They didn’t know it, but I would have renewed at the usual $190; I was just too busy. There is something else they obviously don’t know. I will never trust them again. In just a few sentences, they taught me to never pay the bills they send me, because if I do, I’m ripping myself off.
THE REAL LESSON
I’m sure this is not what the management at the local paper wanted to teach me. How do mistakes like this get made? The answer is simple. We “assume” trust is there because we see organizations and ourselves as being trusting and trusted. Because trust is assumed in all that we do, we often fail to consider if our actions will undermine trust. In this case, the local paper taught me not to trust any of the offers they send me in the mail. I now know, there will be a better deal if I take no action and wait for the better offer.
NEVER ASSUME TRUST
Anytime you are introducing something new, a change of any kind, ask yourself what will happen to trust if you do it in this way? If the answer is that trust will go down, don’t do it in that way. I didn’t say don’t do it. I said don’t do it in that way. Change how you do it so that trust is maintained. And, if anyone in your organization can find a way to increase trust, reward those people openly because you will want that behavior repeated.
Another strategy would be to say they are offering me a one-time-only offer to renew at a reduced rate and this price would not be offered again. By emphasizing the one-time-only aspect of the offer, it is less likely to be seen as a rip off.
HOPE IS NOT A STRATEGY
There are millions of AOL customers today who have a broadband connection and are still paying $21.95 per month for e-mail and access to their content. Millions have called to cancel and were then offered $19.95 per month for the same service. If they said no to that offer, they were then offered $5.95 per month. If this happened to you, how would you feel? My guess is that you would wonder how long AOL had been ripping you off at $21.95 per month. Trust would be undermined.
About a month ago, AOL decided to offer their e-mail and content service for free allowing them to better compete with Yahoo! and Microsoft’s free services. Did AOL notify any of their customers who are still paying $21.95, $19.95, or $5.95? No! Instead, they are hoping that they don’t ask so they can keep collecting the money. My guess is that the remaining, long-standing, loyal AOL customers will eventually find out, feel ripped off, and leave AOL forever. Is this what AOL really wants? I don’t think so.
The moral of this story is: never teach your customers to distrust you.
Thursday, August 10, 2006
Wiki’s: Groupware For The Rest Of Us
All too often, e-mail is used as a tool for electronic collaboration. When that happens, your e-mail load increases greatly as your productivity and effectiveness diminishes. Why? Because e-mail does not have the features needed to allow teams to easily work together on a project. Fortunately, in the mid-1990’s, a new type of software was designed for that purpose. Groupware, or as it is sometimes called, teamware, is software that enables co-workers scattered throughout a building or around the world to use networked computers to share ideas, data, and programs almost as if they were sitting at the same desk. It functions like a secure, highly versatile online service that is dedicated to an organization’s use. One of the biggest downsides of today’s groupware is that they are enterprise applications designed from the top down, and all require learning a new user interface.
Enter the Wiki, a technology we reported on in our Technotrends Newsletter when it first appeared, a Wiki is basically a group blog (Web log) that can be easily edited by its readers. Think of it as a Web page that can be edited like a word processor. A Wiki can be used as a quick way to collaborate with colleagues, or as a way for corporate teams to manage projects. And, because a Wiki can be hosted, team members have access to it from anywhere in the world 24/7. Another great feature of a Wiki is that instead of distributing additional documents team members might need to review or contribute to as e-mail attachments that need to be downloaded into each person’s computer, documents can be posted to a Wiki. Once they are posted, team members cannot only read them, but they can make additions or corrections to them. If a change is made to a document, members of the team can be automatically notified of the change.
Enter the Wiki, a technology we reported on in our Technotrends Newsletter when it first appeared, a Wiki is basically a group blog (Web log) that can be easily edited by its readers. Think of it as a Web page that can be edited like a word processor. A Wiki can be used as a quick way to collaborate with colleagues, or as a way for corporate teams to manage projects. And, because a Wiki can be hosted, team members have access to it from anywhere in the world 24/7. Another great feature of a Wiki is that instead of distributing additional documents team members might need to review or contribute to as e-mail attachments that need to be downloaded into each person’s computer, documents can be posted to a Wiki. Once they are posted, team members cannot only read them, but they can make additions or corrections to them. If a change is made to a document, members of the team can be automatically notified of the change.
Tuesday, July 11, 2006
The Both/And Principal
The ability to accurately anticipate the future provides organizations and individuals with a major competitive advantage. In the mid-1980s, I began to notice that top executives, managers, business publications, and the popular press were all making the same false assumptions about the future of technological change. Every time a new product category was introduced, they assumed that the older category would quickly vanish. Notice I said product category. The reason I use that term is because individual products do come and go, based on decisions made by management in each company. For example, in the late-'80s, many futurists made the mistake of predicting that by the late-1990s, our offices would be paperless. As of 2006, we are still waiting! I have developed a series of guiding principles based on my research that have helped me to avoid such mistakes. One of the most powerful I call the Both/And Principle.
Both/And thinking is a powerful corrective to either/or thinking, meaning that the future will be either one way or the other. Both/And recognizes the folly of assuming that the new will totally supplant the old. Both/And recognizes that they can be integrated. The hottest breakthrough technologies tend to coexist and integrate to create new value with their predecessors rather than completely co-opting them. Why? The old tech has its own unique profile of functional strengths.
A key success strategy is to integrate the old and the new based on the strengths of each. The important point here is that in a Both/And world there isn'’t the horrendous pressure to place all or nothing bets on emerging technology. By all means, keep looking into the visible future and acting on what you see. To see the future-– and to profit from it- think Both/And.
Both/And thinking is a powerful corrective to either/or thinking, meaning that the future will be either one way or the other. Both/And recognizes the folly of assuming that the new will totally supplant the old. Both/And recognizes that they can be integrated. The hottest breakthrough technologies tend to coexist and integrate to create new value with their predecessors rather than completely co-opting them. Why? The old tech has its own unique profile of functional strengths.
A key success strategy is to integrate the old and the new based on the strengths of each. The important point here is that in a Both/And world there isn'’t the horrendous pressure to place all or nothing bets on emerging technology. By all means, keep looking into the visible future and acting on what you see. To see the future-– and to profit from it- think Both/And.
Friday, June 23, 2006
Knowledge Era Enterprises
Over the next 15 years, organizations worldwide will create new economic value by converting information into knowledge, sharing that knowledge internally to increase its value, and then selling it in non-competing industries to a global client base. Organizations will want their intellectual property (IP) formalized, captured, and leveraged to produce assets of a higher value. This shift in focus is already spawning a fast growing new industry that helps organizations do just that. Businesses of all sizes and from all industry segments will use Internet-based technology to leverage the talents, knowledge and wisdom of employees in new and exciting ways to create high margin products and services in this decade and beyond.
Three components are necessary to begin the process leveraging and profiting from IP:
1. Everyone in the organization must see the tremendous opportunity and added value in going beyond the current activity of converting data into information, to higher levels of value by creating and delivering knowledge and wisdom, which clients can quickly act upon.
2. Everyone in the organization must see that its technology infrastructure and organization are the keys to unlock the vast wealth the Knowledge Era has to offer, both for the organization and its clients.
3. Everyone in the organization must see the importance of his or her own participation as essential to building a strong foundation for the enhancement, sharing and delivery of knowledge.
Technology is no longer a barrier to creating a Knowledge Era enterprise. The key is to see the tremendous opportunity that exists right now, and take action.
Three components are necessary to begin the process leveraging and profiting from IP:
1. Everyone in the organization must see the tremendous opportunity and added value in going beyond the current activity of converting data into information, to higher levels of value by creating and delivering knowledge and wisdom, which clients can quickly act upon.
2. Everyone in the organization must see that its technology infrastructure and organization are the keys to unlock the vast wealth the Knowledge Era has to offer, both for the organization and its clients.
3. Everyone in the organization must see the importance of his or her own participation as essential to building a strong foundation for the enhancement, sharing and delivery of knowledge.
Technology is no longer a barrier to creating a Knowledge Era enterprise. The key is to see the tremendous opportunity that exists right now, and take action.
Wednesday, May 31, 2006
How Motivated are We?
At a recent conference in Singapore, I had the opportunity to listen to several speakers from Asia. A common theme in all of their presentations was the tremendous "hunger" that their people have to shape their future, grow their economy, and enhance their standard of living. This "hunger" for a better future is a major factor driving growth throughout Asia today.
As I listened, I asked myself, "How hard are Americans willing to work to learn new things, change and grow to secure a better tomorrow for themselves and the nation?" The majority of Americans have always enjoyed the amazing opportunities that freedom and democracy bring. As a result, all too often we spend our time defending and protecting the status quo instead of leading change from the inside out. History has shown that it is only after we can clearly see opportunity on a personal level that we develop the "hunger" and drive to shape the future. Often, it takes a tragic event - such as 9/11 or massive layoffs - to mobilize us.
The good news is that we don't have to wait. We can cultivate a "hunger" for something better by giving people a clearer picture of the tremendous personal opportunity the future has to offer. Yes, I said personal. We should strive to create a vision that individuals can relate and aspire to. Then change will be viewed as positive, and the result will be action!
As I listened, I asked myself, "How hard are Americans willing to work to learn new things, change and grow to secure a better tomorrow for themselves and the nation?" The majority of Americans have always enjoyed the amazing opportunities that freedom and democracy bring. As a result, all too often we spend our time defending and protecting the status quo instead of leading change from the inside out. History has shown that it is only after we can clearly see opportunity on a personal level that we develop the "hunger" and drive to shape the future. Often, it takes a tragic event - such as 9/11 or massive layoffs - to mobilize us.
The good news is that we don't have to wait. We can cultivate a "hunger" for something better by giving people a clearer picture of the tremendous personal opportunity the future has to offer. Yes, I said personal. We should strive to create a vision that individuals can relate and aspire to. Then change will be viewed as positive, and the result will be action!
Wednesday, May 24, 2006
Higher Tech
We have all used the term "high tech" at one time or another. But there is a new term I have coined that is far more powerful: higher tech.
Technology-driven change comes to us and at us very well disguised; as savior, enemy, innovator, disruptor, blessing, and curse. My goal is to unmask high technology and reveal it's real face - yours.
That's right. It's not the tools that are all-important; it's what you do with them. Because for all its momentum, technology-driven change still lacks one thing: a steering wheel. And that's where you come in. It is imperative that high tech remain the servant of humankind's inherent genius for figuring out what our newest tools could do, what they should do, and most importantly, what they must do.
Now that the high tech genie is out of the bottle, can we cram the wily magician back in there? No way! And that's fine by me. Higher tech has such enormous promise that it's worth a little extra effort to get the kinks out. If I may borrow from Intel's famously successful slogan and logo: Higher tech has people in it.
Technology-driven change comes to us and at us very well disguised; as savior, enemy, innovator, disruptor, blessing, and curse. My goal is to unmask high technology and reveal it's real face - yours.
That's right. It's not the tools that are all-important; it's what you do with them. Because for all its momentum, technology-driven change still lacks one thing: a steering wheel. And that's where you come in. It is imperative that high tech remain the servant of humankind's inherent genius for figuring out what our newest tools could do, what they should do, and most importantly, what they must do.
Now that the high tech genie is out of the bottle, can we cram the wily magician back in there? No way! And that's fine by me. Higher tech has such enormous promise that it's worth a little extra effort to get the kinks out. If I may borrow from Intel's famously successful slogan and logo: Higher tech has people in it.
Wednesday, May 17, 2006
Our World is Changing. Are We Ready?
In recent years, global competition, especially from China and India, has been causing many Americans to wonder whether we are in danger of losing the tremendous lead, and earning power, we have had over other countries for the past 50 years. To see the future of American business, it's a good idea to begin by taking a look at what is happening in our schools. After all, the future workforce is already there for us to see.
In recent tests of general knowledge, U.S. 12th graders performed well below the international average for 21 countries. In addition, an advanced mathematics assessment conducted in 15 countries revealed that eleven of the 15 countries outperformed U.S. students. In 2004, more than 600,000 engineers graduated from institutions of higher education in China. In India, the figure was 350,000. In the U.S., it was 70,000.
Now, I know what many of you are thinking - our graduating chemists and engineers are better. Perhaps, and perhaps not. Regardless, we need to consider that: 1) many of the functions that businesses need chemists or engineers to perform can be done by average engineers and chemists, and 2) the rest of the world is rapidly upgrading their universities to close the quality gap with regard to education standards.
Is the U.S. ready for global competition? In light of these facts, it doesn't look good. But Americans have a long history of doing amazing (and even seemingly impossible) things once we accept the facts and focus our collective minds and efforts on taking action!
In recent tests of general knowledge, U.S. 12th graders performed well below the international average for 21 countries. In addition, an advanced mathematics assessment conducted in 15 countries revealed that eleven of the 15 countries outperformed U.S. students. In 2004, more than 600,000 engineers graduated from institutions of higher education in China. In India, the figure was 350,000. In the U.S., it was 70,000.
Now, I know what many of you are thinking - our graduating chemists and engineers are better. Perhaps, and perhaps not. Regardless, we need to consider that: 1) many of the functions that businesses need chemists or engineers to perform can be done by average engineers and chemists, and 2) the rest of the world is rapidly upgrading their universities to close the quality gap with regard to education standards.
Is the U.S. ready for global competition? In light of these facts, it doesn't look good. But Americans have a long history of doing amazing (and even seemingly impossible) things once we accept the facts and focus our collective minds and efforts on taking action!
Wednesday, May 10, 2006
Acceleration
Technology-driven change has been a ferocious problem for all of us because it comes at us from so many directions. The U.S. Patent and Trademark Office awarded nearly 335,000 patents in 2003 and 2004, and the pace has shown no signs of slowing down.
Is it humanly possible to keep up? You don't need to. Because the fact is, the catalyst for transforming our businesses and futures is generated primarily by three technological forces.
Three of the most powerful digital trend accelerators - computer processing power, storage capacity, and bandwidth - have reached an intense new phase and are already turning business models upside down as they spawn fresh generations of procedures, tools, products, and services. Their newfound power will have a major impact on the future.
By focusing on these three accelerators instead of the dozens of new technologies covered by the press each month, we can get a more accurate sense of where technology-driven change is coming from and, more importantly, where it is likely to lead.
Is it humanly possible to keep up? You don't need to. Because the fact is, the catalyst for transforming our businesses and futures is generated primarily by three technological forces.
Three of the most powerful digital trend accelerators - computer processing power, storage capacity, and bandwidth - have reached an intense new phase and are already turning business models upside down as they spawn fresh generations of procedures, tools, products, and services. Their newfound power will have a major impact on the future.
By focusing on these three accelerators instead of the dozens of new technologies covered by the press each month, we can get a more accurate sense of where technology-driven change is coming from and, more importantly, where it is likely to lead.
Wednesday, May 03, 2006
Leveraging Intellectual Capital
Working with executives at the Mayo Clinic in the early '90s, I asked them to do what I ask many of my clients to do today - and that is to look at what I call the Visible Future®. At that time, this was not something they wanted to do. Why? Because to them it was depressing. Indeed, their visible future included decreasing Medicare and Medicaid reimbursements and increasing losses in their emergency rooms. So my suggestion to them was this: "Why don't you sell your knowledge?"
The result was a CD which could be used by people any time, day or night, to determine, for example, whether their child's rash and fever required a trip to the emergency room or could be treated with aspirin. The Mayo Clinic put a $100 price tag on the product, and in the first year it sold 670,000 copies.
A side benefit was that, by expanding their services to offer a knowledge-based product, they began to develop a new and powerful 21st century brand in the marketplace. They not only created new value and new revenue, but with the subsequent advent of the Internet, their name recognition became international.
Are you leveraging the intellectual capital in your organization?
The result was a CD which could be used by people any time, day or night, to determine, for example, whether their child's rash and fever required a trip to the emergency room or could be treated with aspirin. The Mayo Clinic put a $100 price tag on the product, and in the first year it sold 670,000 copies.
A side benefit was that, by expanding their services to offer a knowledge-based product, they began to develop a new and powerful 21st century brand in the marketplace. They not only created new value and new revenue, but with the subsequent advent of the Internet, their name recognition became international.
Are you leveraging the intellectual capital in your organization?
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