In past posts we have addressed proximity in business: identifying a customer and delivering the product closer to the point of demand. However, we see that proximity extends to other divisions as well.
Is a difference in seconds truly significant? In swimming and racing, seconds make all of the difference for who comes out on top. In technology, we see this same idea carried across in relation to proximity: the product moves closer to the demand. Companies that prioritize proximity are most successful, and one of these companies is Mastercard.
How did a 58-year-old company that began with hydroelectric power in Italy come to be one of the largest, most dynamic, and valuable energy companies driving humanity toward a sustainable energy future? The answer, as you will see, can be summed up as “proximity”: the creation of energy will move ever closer to the point of demand.
In March of 2008, the United States’ national public radio system (NPR) seemed to have a fatal and too common choice: to bet on the past rather than the future. It’s the kind of decision that has initiated the fall of many once-great companies: Toys “R” Us, Polaroid, Borders, Macy’s, RadioShack, and BlackBerry, to name a few.
If you want to predict the path of innovation in your industry, consider one unifying strategic concept: proximity. Introduced by innovation guru Rob Wolcott, proximity is the theory that the production and provision of value moves ever closer to the point of demand. Viewing your industry through this lens can reveal new opportunities, help you clarify where to focus your innovation efforts, and help you better anticipate which innovations will thrive and which will fall.