In emerging and innovative markets, however, a completely different managerial mindset is required. Competing in those markets, contrary to what most people believe, is not about having a superior technology.
What do daycare teachers and managers have in common? Both should learn storytelling. Stories represent a powerful tool to illustrate ideas, convince people and generate commitment. Below you will find the story of the cash register machine and NCR, the undiscussed leader in the manufacturing of mechanical cash registers during the 1960s.
Stories like the above one, even if not as dramatic, are not uncommon. Consider the lists Fortune 500, Forbes 100, Global 1000, S&P 500 and so on, they collect the largest and, supposedly, the best managed companies in the world. If we take a closer look, however, practically all of those large organizations underperform the market in the long term, a rather counter-intuitive fact.
There are many costumers who would be willing to drive an all-electric car, despite the reduced performance, because the alternative would be not driving at all. Consider parents who are worried about how far and how fast their kids might drive. An electric car could be the perfect choice.