Week8 The Practice of Innovation - Part 2

This week Prof. Hang is going to illustrate Interpretation is essential thinking process for Innovation. Interpretation is an open-ended process and plays in the space of "ambiguity". It is ambiguity that makes the conversation worth having. Cell phone emerged in the space created by the ambiguity about whether the product was a radio or a telephone. Novelty and originality lie in the space of ambiguity.

1 classic example: A glass half-filled with water or a glass is half empty depend on how u interpret it.

1 industry example: Sony developed walkman in 1979. At that time, this product is considered "irrational" product development so the price of the walkman is Y33,000 which the japanese youth can afford. First month, nobody bought the walkman. During second month, Yuppies unexpectedly became "heavy users", then followed by teenagers. Sales suddenly expoded in 3rd month and walkman out of stock.

If any one of you observe any market uncertainty or failure in certain products, there is a chance for innovation to take place by using interpretation think process.