Problems = Opportunities. The larger the problem, the greater the opportunity.
Vinod Kholsa, the founder of Kholsa Ventures is known for saying that problems should be seen as opportunities. The larger the problem, the greater the opportunity. This conforms to perceiving problems as an opportunity to experiment and tinkle with methods, sometimes resulting in novel solutions. Innovation is about continuously trying new things. Even though what was done may be wrong, experiences are accumulated during the experimentation process. This prepares the individual to make better judgments for future innovations.
Wu Chih Feng runs Careme Baking Master, an innovative confectionary in China founded in 2004. The confectionary departs from the traditional "factory production and distribution" model and adopts the advanced European-style "semi-finished products distribution, on-site roasting" method.
During the melamine scare in China in 2008 where the general citizenry dare not consume milk powder, Wu Chi Feng took a calculated risk to launch a new product - concentrated milk toast, “We incorporated concentrated milk into our toasts. By doing so, our sales figures actually increased significantly. During times when customers do not trust prevailing products, and if one manages to gain their trusts using an alternative product, it becomes popular easily.”
Problems = Opportunities. The larger the problem, the greater the opportunity.
| innovation | View Comments
blog comments powered by Disqus
Subscribe to:
Post Comments (Atom)