BUS 331 Chapter Notes - Chapter 7: Orthogenesis, Pisces Iscariot, American Express
29 Feb 2016
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A lot of visionary companies made their best moves through experimentation rather than strategic planning. Example: johnson & johnson move to consumer products. Initially was focused on antiseptic gauze and medical plasters. A physican requested something to help patient skin irritation consumer products. Band-aid invention was an accident one employee created them because his wife kept cutting herself with kitchen knives. Moved into airport services because one restaurant was located near an airport, seized an. Example: american express evolution into financial and travel services. Amex was initially a regional freight express business. Created money orders and traveler"s checks out of necessity evolution towards opportunity financial services. Despite president j. c. fargo saying the company would not move towards travel services, amex ended up becoming a great travel organization (very different from initial conception as a freight express business) Two ways to stimulate progress: (1) bhag"s. Bhag"s involve bold discontinuous leaps: (2) evolutionary progress.
