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.