This workbook discusses paradigm shifts and mental model changes that enable opportunities. It provides examples of how BIC shifted from focusing only on pens to disposable plastic products generally. Low-cost airlines disrupted the aviation industry by operating single aircraft types from secondary airports and unbundling ticket prices. Video streaming services like Netflix changed the model from physical DVD stores and piracy to online subscription services with large libraries and exclusive content. Mental models that are challenged can help solve problems and pursue new opportunities.
This workbook discusses paradigm shifts and mental model changes that enable opportunities. It provides examples of how BIC shifted from focusing only on pens to disposable plastic products generally. Low-cost airlines disrupted the aviation industry by operating single aircraft types from secondary airports and unbundling ticket prices. Video streaming services like Netflix changed the model from physical DVD stores and piracy to online subscription services with large libraries and exclusive content. Mental models that are challenged can help solve problems and pursue new opportunities.
This workbook discusses paradigm shifts and mental model changes that enable opportunities. It provides examples of how BIC shifted from focusing only on pens to disposable plastic products generally. Low-cost airlines disrupted the aviation industry by operating single aircraft types from secondary airports and unbundling ticket prices. Video streaming services like Netflix changed the model from physical DVD stores and piracy to online subscription services with large libraries and exclusive content. Mental models that are challenged can help solve problems and pursue new opportunities.
This workbook discusses paradigm shifts and mental model changes that enable opportunities. It provides examples of how BIC shifted from focusing only on pens to disposable plastic products generally. Low-cost airlines disrupted the aviation industry by operating single aircraft types from secondary airports and unbundling ticket prices. Video streaming services like Netflix changed the model from physical DVD stores and piracy to online subscription services with large libraries and exclusive content. Mental models that are challenged can help solve problems and pursue new opportunities.
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Paradigm-busting
workbook It is up to us to interpret the “facts” Thought exercise: is a given megatrend an opportunity or threat? It could be either, depending on your mindset. Complete this exercise by filling in the blanks, challenging yourself to interpret the “facts”, which many see as threats, as opportunities.
Threat Opportunity
Aging demographics Aging population New “silver market”
New health-care Rising health-care costs Health-care spending services and settings Higher purchasing power of citizens creating a conducive business environment for better consumer Urban congestion Urbanization products & services companies, banks, credit institutions, healthcare, education industry, transport etc. Growing power and Economic loss and human impact Sustainability infrastructure needs Creates a better environment for Near-term price and energy volatility Energy price volatility shifting to stable green energy alternatives like Hydrogen etc. Creates employment, leads to better High competition in rapidly evolving innovation to compete, fringe Shifts in our mental models enable us to solve problems and pursue opportunities
Mental models, paradigms, or the way that
we think about things help us shortcut New mental models thinking to arrive at decisions quickly, but they can also inhibit positive change, keeping us stuck in old ways of thinking.
Change Small, incremental change in our mental models doesn’t always yield the change we need; we need to actively challenge our Old mental models assumptions to drive meaningful change.
Let’s review some examples.
Time BIC opened the door to new lines of business (e.g., lighters, razors) by shifting mental models
New mental models
“We are in the cheap, disposable
plastic objects business.” ● Pens, lighters, razors, etc. Change
Old mental models
“We are in the writing business.”
● Cheap pens, cheaper pens, colored pens, black pens, etc.
Time Low-cost airlines shifted prevailing airline paradigms to disrupt the aviation industry Fill in the blanks.
New mental models
Airlines can operate: ● single model of aircraft ● Shifting to tier-2 or non-primary airports. Old mental models Change
● Removal of all-inclusive ticket prices-
breakup of services separately priced Airlines can operate: ● Choice of seating with different pricing ● many types of aircraft model. ● convenient, major airports ● Sale of tickets without middle men ● hub-and-spoke model reducing commission costs and ● all-inclusive pricing realisation of full potential ticket ● pre-assigned seating revenue. ● sold via travel agents
Time Describe another mental model shift that has resulted in a major change Fill in the blanks.
New mental models
Video on-Demand – Netlfix/ Amazon Prime ● No presence of physical stores, movie library hosted on the internet _ better Old mental models Change
access. Video CD/DVD Stores ● No or limited piracy through these ● Depended on In-store sale of physical platforms ● Subscription model ( monthly or CDs/ DVDs – more infrastructure needed. yearly )- access to entire content hosted. ● ● OTT deals with production houses – Piracy and black market of movies / video industry. exclusive hosting of specific titles. ● Niche and exclusive content available ● Rental/ Buy model – single movies or only on their platforms – Loyalty and multiple exclusivity of customer base. Time
