Phase- Change Materials - A Fundamental Solution

Phase-change materials socio-technical plan.  

Resisting the Force and Staying the course- a Blockbuster error

...meanwhile we will stay the course

Introduction

The featured organization faced several forces that bypassed the corporation’s ability to adapt, plan and engage in futuring. In 2004 the successful corporation had a market value of 5.9 billion dollars with a strong global presence and a staff above 80,000 people (Harress, 2015).

The organization is Blockbuster.

Blockbuster, a well-known name that offered movie and video game rental services to millions of people was unable to combat, “competition from online streaming and on-demand rental sites (Harress, 2015).

Resisting the Force

The forces that influenced the downfall of Blockbuster will be taken from the STEEPLE model. This well-known strategic analytical model that lists Social, Technological, Economic, Environmental, Political, Legal and Ethical external factors. These factors or forces can influence a business’s success model (George and Creately, 2024).

Two of the external factors or forces I will focus on related to Blockbuster are the Social and Technological Elements.

Social Forces

George and Creately neatly sums up Social Factors as demographics, lifestyle transformations and evolving social values fueled by sustainability, social justice, diversity and ethical consumption (2024).

Blockbuster clients that realized that media was digitally available contributed to the trend for this form of entertainment to explode. Harress reports that Blockbuster did not change its physical rental model when digital media was in its infancy, neither did it purchase Netflix for $50 million in 2000 when an offer was made (2015), showing a lack of strategic prowess.

Technological Forces

Technological Forces are described as considerations of the innovation ecosystem, such as AI, quantum computers, biotechnology and other emerging technologies. Digital Transformation and the ability to embrace AI, IoT technologies, cybersecurity and cloud computing. Research and development which underscores Technological forces with investments, patents, identification of disruptive innovations and collaborative research ecosystems (George and Creately, 2024).

Between 2005-2007 Blockbuster made a crucial error by not embracing digital transformation. Harress states that decisions inclusive of “ditching the total access online service in favor of continuing the in-store, retail-orientated model “ (2015) proved to be a big mistake and placed the company’s technology stance behind its rivals.

Summary

Forbes reports that Blockbuster lost 75% of market value between 2003 to 2005 (2010). The company lost its shares partially due to social forces like changing entertainment values and technological forces such as the inability to explore emerging technologies, envision the future of digital transformation or understand the serious nature of disruptive innovations.

In an increasingly digitized society, survival requires constant review of forces and intelligence backed bravery to, not stay the course. Blockbuster is a perfect case study in what happens when Social and Technological forces are ignored.

References

Forbes. (2010, May 18). (A timeline: the blockbuster life cycle. https://www.forbes.com/2010/05/18/blockbuster-netflix-coinstar-markets-bankruptcy-coinstar_slide.html

George, C., & Creately. (2024, November 29). What is a STEEPLE Analysis? Understanding its Elements and How to Create One. Creately. https://creately.com/guides/steeple-analysis/

Harress, C. (2015, December 5). Blockbuster RIP: The Video-Rental Empire is Dead. International Business Times. https://www.ibtimes.com/sad-end-blockbuster-video-onetime-5-billion-company-being-liquidated-competition-online-giants

Word Coun

Three states that describe Innovation Experience: Serendipity, Error & Exaptation

 

 Serendipity, Error & Exaptation 

Serendipity

Serendipitous innovations occur when people are not actively seeking a benefit or solution or actively inventing. These innovations come as a surprise to the inventor as well as to the market. 

In 1938, Ruth Wakefield (part owner of the Toll House Inn in Massachusetts) decided to make cookies for expected guests. When she arrived in the kitchen she realized she did not have bakers’ chocolate and hastily decided to chop up a bar of semi-sweet chocolate and add it to her ingredients (Kabir, 2023). 

The yummy result of this hasty action turned into a worldwide sensation called Chocolate Chip Cookies.  This serendipitous innovation paid off when one year later, Ms. Wakefield allowed Nestle to use the recipe and the Toll House brand was born (Kabir, 2023). 

Error

Innovations that occur by Error are accidental in nature and are products (or services) that were meant to be a solution or benefit in other ways. 

An example of this would be the popular product Post-its.    

Chemist, Dr. Spencer Silver was in the process of experimenting with formulas to create stronger adhesives in 1968 (Bellis, 2019b, Skonord, 2021). This work led to the discovery of  microspheres which is an adhesive substance that removes easily from surfaces (Post-it.com, n.d.).  Even though the substance did not create a strong bond, Dr. Silver believed that the product could be useful and promoted it constantly (Skonord, 2021). 

Several years later Art Fry- a scientist who worked at the same company as Dr. Silver (3M), contacted Dr. Silver to collaborate on a product which could potentially solve a problem with bookmarking. They developed the sticky note originally known as, Press ‘n Peel and which later became known as Post-it notes (Bellis, 2019b, Post-it.com, n.d.).

 

In 2024 The Post-It note market size was 200.09 Million with a CAGR of 1.07% to 2033 -for a market valued at 206.59 million (Global Market Statistics, n.d.).

 

Exaptation

Of the three methods of invention being discussed Exaptation reveals itself to be the one with multiple applications. Exaptation occurs when an invention or innovation is created for one purpose but is repurposed to provide benefit or solutions in a different area. 

Percy LeBaron Spencer is credited with the invention of the Microwave oven.  When he discovered this invention in 1945, he was seeking a way to make a radar tool called magnetrons more efficient (Omnispear, 2024).  During this process he noticed changes in the state of nearby food which would occur whenever he or his associates worked on the magnetrons.  The changes in state peaked his curiosity and in 1945 after further experiments the Microwave oven was patented (Omnispear, 2024).  

The Microwave oven is an example of exaptation because it came about from work on an existing product, the magnetrons (Andriani & Cattani, 2016).

 

Global Market Insights noted that in 2024 the Microwave market was valued at 10.5 billion dollars with a CAGR of 4.6 % plus with a market value of 16.3 billion by 2034 (Singh & Singh, 2024).

 

If an innovation is created or discovered intentionally, serendipitously, by error or exaptation the development requires an atmosphere of openness, empowerment and experimentation to grow (Skonord, 2021).  When the inventor(s) are enabled in such an atmosphere, the possibilities become reality.

 

 

References

Andriani, P., & Cattani, G. (2016). Exaptation as source of creativity, innovation, and diversity: Introduction to the special section. Industrial and Corporate Change, 25(1), 115-131. https://doi.org/10.1093/icc/dtv053

Bellis, M. (2019b, October 16). Invention of the post-it note. ThoughtCo. https://www.thoughtco.com/history-of-post-it-note-1992326

Global Market Statistics. (n.d.).  Post-it & sticky notes market size, share | Global Research [2033]. https://www.globalmarketstatistics.com/market-reports/post-it-sticky-notes-market-10894

Kabir, S. R. (2023, December 11). Who invented chocolate chip cookies? Story of the blissful biscuit | history cooperative. History Cooperative. https://historycooperative.org/who-invented-chocolate-chip-cookies/

Omnispear. (2024, February 13). Wilson Greatbatch. Engineering & science hall of fame. https://eshalloffame.org/inductee/wilson-greatbatch/

Post-it.com (n.d.). About us: MMM-ext. https://www.post-it.com/3M/en_US/post-it/contact-us/about-us/

Singh, S., & Singh, A. (2024). Microwave oven Market - by product type, by structure, by capacity, by power, by price range, by end use, by distribution channel analysis, share, growth Forecast, 2025 to 2034. In Global Market Insights Inc. https://www.gminsights.com/industry-analysis/microwave-oven-market

Skonord, C.(2021, February 19). Post-it notes: An employee idea that was originally a mistake. Ideawake. https://ideawake.com/post-it-notes-employee-idea-that-was-originally-mistake/