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Innovate or die: Why innovation is the key to business success

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Innovate or die: Why innovation is the key to business success

Readers of a certain age may remember a particular blue and yellow branded video store –the centre of every weekend during the 90s and 2000s. These stores were home to countless late-night discussions surrounding which movie to get, and whether the popcorn at the front of the counter was worth a few extra dollars.  

Apart
from making the monumental shift from VHS to DVDs, video stores hadn’t changed
much in decades. So when streaming services like Netflix
offered the convenience of staying in your pyjamas while choosing a film, no
late fees and value for money, they just couldn’t compete.

Sadly, video stores are by no means an isolated
example. A huge 88
per cent of the Fortune 500 companies featured in 1955 have disappeared. 

Remember
Polaroid? It declared bankruptcy in 2001 after over 60 years in business, with
Kodak following not far behind. Toys ‘R’ Us missed the opportunity to develop
its own ecommerce presence and filed for bankruptcy in 2017. Borders Books will
be forever assigned to the annals of history alongside PC sellers, Compaq and
car manufacturer General Motors, all of which were committed to older, less
efficient technology. 

The
one thing these dearly departed companies have in common? They all failed to
innovate.

Is innovation just a PR tactic?

The short answer is no. True innovation has to go far beyond a catchy PR stunt or slick video. It needs to be part of a company’s culture. When executed well, innovation can immunise a business against current and emerging competitors, as well as act as a tool to attract the best young employees and retain them.

There are many poster boys for companies that conscientiously pursue innovation. Google’s parent company, Alphabet is one, along with Disney Pixar, Alibaba, Raiz and Apple.

These companies don’t just have a fancy video or chief innovation officer. For them, innovation is more than just a buzzword. 

So,
what do they do differently?  These
companies strategically and directly invest in the pursuit of innovative
opportunities, and then nurture them carefully within the culture of their
company. 

While it’s tempting to feel intimidated by others greatness, remember, innovation can happen anywhere. In fact, Australia has a long and proud history of home-grown innovation. From Speedos to Earth Hour and baby safe capsules, right through to the very technology our world depends on today, Wi-Fi.

Seeking innovation

The job network, Seek – headquartered in Melbourne – is one example to learn from.

“It hasn’t always been easy. It’s been a process of re-imagining and re-inventing, constantly striving to find new and better ways of doing what we do,” a statement from the organisation explains.

Their
approach to innovation has seen them succeed where many others have
stumbled. Starting in 1997, Seek expanded their online capacity from just a
few thousand visits each month to 450 million visits every month across 18
countries.

Jamie
Simon, Seek’s Head of Enterprise and Government Sales, explains that innovation
is part of the company’s DNA.

“We
run hackathons three times a year… these are an opportunity for all of our
employees to put ‘tools down’ for three days and focus on an innovation concept
that they believe will drive value both for our organisation and our customers,
and for the marketplace in general. Off the back of those hackathons have come
some of our most exciting product innovations.”

Learn the art of innovation

Keen to learn the art of innovation? Through Open Universities Australia (OUA), you can study a range of subjects and courses with leading Australian universities in the areas of business and design thinking. You can even complete them online, at your own pace, from wherever you are. Now that’s innovation.

To learn more about how to study through OUA – fill out the form on this page, and a friendly student advisor will get in contact.

You can also chat to them on OUA’s website Messenger service, Facebook Messenger, WhatsApp or SMS. They’ll help you find the right course for your future.

Go Unlimited for less in October

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Go Unlimited for less in October

This October, for a limited time, you can buy 12 months of Unlimited for even less.

For one payment of £189 £139, you’ll have full access to hundreds of FutureLearn short courses for an entire year.

Unlimited has countless benefits, but we’ve narrowed it down our top five so you can get stuck into learning sooner ✔️

  1. Get unlimited access to short courses

As an Unlimited learner, you can join as many courses as you like from top universities from around the world. 

Further your career by learning new in-demand skills like UX or Data Visualisation, or broaden your horizons and build creativity with courses like Start Writing Fiction and An Introduction to Victorian Film. 

Plus, if you’re not sure which archaeology course you’ll dig the most, or you’re a bookworm with an appetite for literature, you can pursue new topics easily with hundreds of courses in a huge range of industries and categories.

  1. Learn at your own pace

After surveying over 3,000 FutureLearners, we found that more than 30% of you valued the ability to complete courses at your own pace higher than anything else. 

With Unlimited, you have an entire year to complete your courses, so life won’t get in the way. 

Whether you want to take more time over particularly tricky steps or something happens in your personal or professional life, your courses will stay open for you to finish. 

  1. Prove your achievements

When you achieve something great, it feels pretty good to shout it from the rooftops. When you complete a course, you’ll earn a digital Certificate of Achievement which you can share online or on your CV as proof of your success. 

Research shows that one of the top five considerations for employers when hiring is proof of continuous learning.

A certificate shows your initiative and passion for your craft and is the perfect way to set yourself apart from the competition in your field.

  1. Keep your course content

With Unlimited, there’s no need to cram. You’ll be able to keep the content of all the courses you’ve gained a certificate on beyond the year of your Unlimited learning. 

Whether you have a job interview or exam coming up, or you’re about to attend a hotly-contested pub quiz, access any of the articles, videos and quizzes of your course whenever you need a refresher.

  1. Save time and money

One simple payment means less time at the checkout and more time learning.

Fancy building your skills across one particular field, like business or teaching? Pitch Unlimited to your employer and ask them to invest in your self-development. 

At £139 for one year, you can make the most of your new-found love of learning and invest in a brighter future.

We think you’re worth it.

Word + Quiz: sallow

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onlinefreecourse
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Word + Quiz: sallow

adjective: unhealthy looking

verb: cause to become sallow

noun: any of several Old World shrubby broad-leaved willows having large catkins; some are important sources for tanbark and charcoal

_________

The word sallow has appeared in 12 articles on NYTimes.com in the past year, including on May 14 in “When Grunge Made Blue-Collar Culture Cool” by Steven Kurutz:

More than its fresh sound — a fusing of metal with punk — more than articulating a generation’s disillusionment with capitalist culture, the appeal of grunge, for me, was this: It reflected and ennobled the blue-collar world I knew.

…. Grunge, with its heavy, murky sound and sallow musicians, got at something darker about living in a fractured land. Where many Springsteen songs were enlivened by hope, this music captured the deadbeat side of America. If grunge songs didn’t directly address the concerns of working people, it was nevertheless recessionary music, made by underemployed slackers.

_________

How Much Do You Know About Oman?

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How Much Do You Know About Oman?

Can you find Oman on a map? What else do you know about this Middle Eastern nation with more than 4.6 million people?

Are Some Youth Sports Too Intense?

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Are Some Youth Sports Too Intense?

Find all our Student Opinion questions here.

Do you know children or teenagers who are on sports teams so competitive that they spend several days a week nearly every week of the year playing?

Do you play sports? How much stress, if any, do your athletic pursuits place on your body, mind, academics and social life? Should there be limits to how much time young people devote to a single sport?

In “Parents Should Limit Sports Participation for Children, Trainers Say,” Roni Caryn Rabin writes:

A proposed rule of thumb: A child’s age equals the number of hours he or she should spend in sports training each week.

The recommendations, more stringent than those issued by some physician groups, may pose a challenge to parents and youngsters who see intense year-round athletic training as the path to coveted college scholarships and professional stardom.

The advice arrives amid growing concern about a rise in athletic injuries among children engaging in tough training exercises. These regimens also can exact a psychological toll, increasing the risk that children and adolescents will burn out and quit sports altogether, the trainers’ group said.

“Single-sports specialization is bordering on an epidemic in terms of the risks it can pose, for physical injuries as well as the potential for negative psychological effects,” said Tory Lindley, president of N.A.T.A.

“There is a myth that it takes a single-sport specialization to succeed,” Mr. Lindley added. “In fact, we’re learning from research and anecdotal evidence that there is actually an opportunity for athleticism to improve if you expose the body to different sports and different movements.”

Students, read the entire article, then tell us:

  • What, if anything, in the article resonates with you, whether you are personally involved in sports or have witnessed the experiences of your peers who are athletes? Explain.

  • What are the benefits and drawbacks of focusing so deeply on one sport at an early age? In your opinion, do the benefits outweigh the drawbacks, or vice versa? What might be the benefits of playing two or more sports rather than just one during the year?

  • Do you think the six recommendations outlined in the article should be followed? Are any of them more important than others?

  • Would you want your own child to be on a highly competitive sports team at a young age? At what age do you think intense, single-sport specialization is appropriate?

Students 13 and older are invited to comment. All comments are moderated by the Learning Network staff, but please keep in mind that once your comment is accepted, it will be made public.

Lesson of the Day: ‘When the Student Newspaper Is the Only Daily Paper in Town’

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Lesson of the Day: ‘When the Student Newspaper Is the Only Daily Paper in Town’

Find all our Lessons of the Day here.

Featured Article: “When the Student Newspaper Is the Only Daily Paper in Town”

As more than 2,000 newspapers across the country have closed or merged, student journalists from Michigan to Arizona have stepped in to fill the void. What does this mean for local communities?

Does your hometown have a daily newspaper? If so, do you and your family read it, either in print or online? What other local news media outlets do you read or watch?

What have you heard about the state of local newspapers in the United States today? Are you aware that more than 2,000 newspapers have closed or merged, leaving more than 1,300 communities without any local news coverage?

Do you think it’s important for every community to have a local newspaper? Is it important that there are journalists reporting on local news? Why? What role does journalism play in a community?

Read the article, then answer the following questions:

1. Why do University of Michigan students serve as reporters in the city of Ann Arbor? How did this happen?

2. How do you think the role of student reporters has changed over time in Ann Arbor and elsewhere? What evidence from the article supports your argument?

3. What are two examples of The Michigan Daily’s reporting leading to change at the University of Michigan?

4. What is MLive.com? How is its coverage of Ann Arbor different from The Michigan Daily’s? Why do you think some residents prefer The Michigan Daily’s coverage?

5. What are The Michigan Daily’s strengths and weaknesses, according to the article? What about those of the reporters who work for the newspaper?

Does your school have its own newspaper? What kinds of reporting does it include?

With a partner, brainstorm a list of local issues you would want your school to report on. For example, are there any issues students or staff members are concerned about? Are there any changes happening that the community might want to understand better? Are there any challenges or successes that deserve to be written about?

Then, select one topic and write about it in a news article. Here are some tips for how to get started.

What’s Going On in This Picture? | Oct. 21, 2019

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What’s Going On in This Picture? | Oct. 21, 2019

Students

1. After looking closely at the image above (or at the full-size image), think about these three questions:

2. Next, join the conversation by clicking on the comment button and posting in the box that opens on the right. (Students 13 and older are invited to comment, although teachers of younger students are welcome to post what their students have to say.)

3. After you have posted, try reading back to see what others have said, then respond to someone else by posting another comment. Use the “Reply” button or the @ symbol to address that student directly.

Each Monday, our collaborator, Visual Thinking Strategies, will facilitate a discussion from 9 a.m. to 2 p.m. Eastern time by paraphrasing comments and linking to responses to help students’ understanding go deeper. You might use their responses as models for your own.

4. On Thursday afternoons, we will reveal at the bottom of this post more information about the photo. How does reading the caption and learning its back story help you see the image differently?

Word + Quiz: tactile

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onlinefreecourse
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Word + Quiz: tactile

1. of or relating to or proceeding from the sense of touch

2. producing a sensation of touch

_________

The word tactile has appeared in 92 articles on NYTimes.com in the past year, including on Aug. 29 in “This Labor Day, We Salute the (Arts) Workers” by Peter Libbey:

For Evelyn Emile, a projectionist who has been working at Anthology Film Archives for more than three years, films aren’t just seen and heard; they are also something you touch.

“I love handling film,” she said. “I have some contact with reality when I’m projecting film that I don’t have when I’m doing something digital.”

Working with film prints, she explained, requires precision and constant attention: “If I move the focus knob a millimeter, I know it will come into focus. Small movements can make a big difference on the screen.” And that’s what’s rewarding about it, she added. It’s up to her to ensure that the sometimes fragile reels of film show up onscreen in the way they were intended.

…. The tactile relationship that Emile has with the films she projects has only deepened her love of cinema. Emile is particularly excited to screen films by Carl Dreyer, including “The Passion of Joan of Arc” (1928) and “Ordet” (1955), over Labor Day weekend. “Each of his films is really extraordinary,” she said. “They have simple plots showing everyday people, not judging them, just showing their relationships and how they work through the problems of their lives.”

_________

What Is Your Favorite Rivalry?

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onlinefreecourse
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What Is Your Favorite Rivalry?

Taylor Swift vs. Kanye? Microsoft vs. Apple? North Carolina vs. Duke? Do rivalries capture your attention?

When the Eagles face the Cowboys on Sunday and the Patriots face the Jets on Monday night, two fierce N.F.L. rivalries will be renewed. But where do they rank among all the bitter rivalries in North American sports?

Any list of “greatest sports rivalries” is bound to be disputed. Make such a list, and be prepared for an onslaught of comments like “How could you leave out Maple Leafs-Canadiens?” and “What about Toledo-Bowling Green?”

So two business professors set out to try to find the biggest rivalries on an objective, statistical basis.

“People don’t agree,” said B. David Tyler, an associate professor at Western Carolina. “Some people say you can only have one rival. We decided to get some clarity on the idea.”

The professors sought out hard-core fans of North American professional teams and college football teams and asked them to allocate 100 points among their most hated rivals. A Minnesota fan might allocate 50 points to Wisconsin, 40 to Iowa and 10 to Michigan. Other fan bases might target their dislike more sharply. A U.C.L.A. fan might give 80, 90 or even all 100 points to Southern California.

The top-scoring rivalries by these criteria are not necessarily the most famous, or the fiercest. Rather, they are the ones where neither team has any other significant rivals to steal away points. Topping the college football chart is Arizona-Arizona State. With no other serious rivals, Arizona fans gave an average of 89 points to their cross-state rival, and Arizona State averaged 83 points back.

In second place is a rivalry nearly everyone would cite as one of the biggest. Michigan fans gave 69 points to Ohio State (with Michigan State and Notre Dame also getting some support). And Ohio State fans were even more unanimous, giving 91 points to Michigan.

As for the N.F.L., Patriots-Jets ranks fourth and Eagles-Cowboys fifth, after Falcons-Saints, Steelers-Ravens and Packers-Bears.

“What surprised me was how long fans hold a grudge or remember defining moments,” said the other architect of the study, Joe B. Cobbs, an associate professor at Northern Kentucky. “Fans name specific moments from specific games and remember the players, even 15 years ago sometimes.”

Anyone who spends time with a superfan will see how dislike of a rival can drive fandom. And the professors are clear that these passions are rooted deeply.

“Fans are more likely to outwardly display their connection to a team after a win: University students wear more logoed apparel to class on the Monday after a football win,” Tyler said. “People use more of ‘we’ and ‘us’ when describing the team following a win.

“That shows why the threat posed by a rival is so acute, especially for highly identified fans. The rival isn’t just a threat to the favorite team’s place in the standings — it can be a threat to the fan’s own sense of self.”

Students 13 and older are invited to comment. All comments are moderated by the Learning Network staff, but please keep in mind that once your comment is accepted, it will be made public.

Lesson of the Day: ‘This Is the Free Jumpsuit You’ll Get With a $250,000 Ticket to Space’

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Lesson of the Day: ‘This Is the Free Jumpsuit You’ll Get With a $250,000 Ticket to Space’

Find all our Lessons of the Day here.

Featured Article: “This Is the Free Jumpsuit You’ll Get With a $250,000 Ticket to Space”

This week, Virgin Galactic, the company started by Richard Branson to take people to the edge of space aboard a rocket-powered plane, unveiled its sleek, high-tech garments that passengers will wear during their trips.

Students will explore the new age of fashion for space, consider the future of space tourism, and finally design their own space wear.

Would you ever want to travel to space — as a space tourist or as an astronaut on a mission? Do you think you will ever travel to outer space in your lifetime?

This week, Virgin Galactic unveiled its new space wear, which is free for customers as part of the cost of a $250,000 seat ticket.

Before you read, look through the images and videos in the article. Then, answer the following questions:

  • What do you notice?

  • What questions do you have?

  • What story do these images tell? Write a catchy headline that captures the main idea of the photos.

  • Does seeing the high-tech space wear make you more excited about the future of spaceflight? Would getting to keep the Virgin space wear make you more willing to purchase a $250,000 ticket?

Read the article, then answer the following questions:

1. Mr. Branson said, “I think the whole experience of going to space should be sexy. Our spaceships are sexy. Our mother ships are sexy. Our spaceport is sexy. And for younger people than myself, this suit is also sexy.” Do you agree with his assessment? What adjectives would you use to describe the new space jumpsuit?

2. Why did Virgin Galactic introduce their new space garments at an indoor skydiving facility with dancers? Do you think this was an effective way to unveil their new products?

3. How does the Virgin space wear compare to those of other private companies like SpaceX and Boeing, or to the new spacesuits NASA recently demonstrated publicly? How does the engineering and design of NASA’s spacesuit fit in with its goals for future missions?

4. What challenges has Virgin Galactic faced since its founding in 2004? What will passengers experience for a pricey 90-minute Virgin spaceflight? Which part of the trip would be most exciting to you?

5. Why was Under Armour chosen to design and produce Virgin’s space wear? How did they develop the design of the space outfits (such as, colors, materials, number and placement of pockets)? Which part of the process was most interesting or surprising to you?

6. The article concludes with a quote from Clay Dean, the chief innovation officer for Under Armour:

I think if you look at the original space program for NASA and the things it spawned in terms of developments that we never imagined, we’re finding the same.

What ways did the original space program transform the world? In what ways do you think future space tourism might lead to unimagined changes?

— What’s your reaction to the article? Does it make you more excited about spaceflight? Which space outfit featured in the article is your favorite? Which aspects of the Virgin jumpsuit do you find most appealing? What changes would you recommend they make, if any?

— There have been many memorable depictions of space wear throughout history — such as in films and television shows like “Star Wars,” “Star Trek,” and with characters like Buzz Lightyear in “Toy Story.” Which is your favorite and why? Which fictional space outfit would you most like to wear?

— Now, design your own space wear.

Your space wear can be highly practical or fantastical, but be creative and have fun. For your design, keep in mind both form and function:

  • Form: What will your outfits look like? Will they be athletic, futuristic, scary or playful? Will they be based on a color palette drawn from images of Earth backlit by the sun, as is the Virgin jumpsuit? Or upon another cool concept?

  • Function: What is the purpose of your space wear? How will it be helpful for say, wearing on the International Space Station, or a mission to the lunar South Pole?

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