Although I've resisted joining the debate about saving newspapers, I've been surprised at not reading about models that turn the business on its head. That is, what if a newspaper could 'pay' its advertisers to be a part of its ecosystem as long as the resulting revenue generated by the advertisers was shared back in such a way that the newspapers profited?
Yes, this sounds crazy. But, I am working on a post about combining disruptive innovators in my Advisory Services wheelhouse in such a way to perhaps make this a viable business model, and one that could allow newspapers to continue to employ journalists and remain a vital linchpin among our connected citizenry. Look for that post later this week.
Monday
Building External Innovation Networks
In the following blog post from June 24, 2009 in Knowledge@Wharton, the author says enterprises should look outside for innovation via networks. The following warning for why external networks fail is also pertinent to why Advisory Boards for emerging media companies often fail: The founders do not listen to the advisors, spending too much effort on their core beliefs:
'Despite their importance, alliances between companies only succeed about 40% of the time, said Wharton management professor Harbir Singh, a conference organizer and Mack Center co-director. "Why is the success rate not higher?" Singh asked. "How do we improve performance above 40%?"
Organizations grapple with how to build external networks -- what Singh calls "the extended enterprise" -- without shifting too much focus away from the core needs of the firm. "In order to be successful in the extended enterprise world, you have to invest in alliances and network capabilities," Singh said. "But from a 'focused firm' approach, you would say that alliance and network capability is secondary to the core focus of the firm.... Really, what it comes down to is the tension between creating shared resources versus protecting one's own resources."
Link
'Despite their importance, alliances between companies only succeed about 40% of the time, said Wharton management professor Harbir Singh, a conference organizer and Mack Center co-director. "Why is the success rate not higher?" Singh asked. "How do we improve performance above 40%?"
Organizations grapple with how to build external networks -- what Singh calls "the extended enterprise" -- without shifting too much focus away from the core needs of the firm. "In order to be successful in the extended enterprise world, you have to invest in alliances and network capabilities," Singh said. "But from a 'focused firm' approach, you would say that alliance and network capability is secondary to the core focus of the firm.... Really, what it comes down to is the tension between creating shared resources versus protecting one's own resources."
Link
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