This is a success story of a company that has to go through many revisions before finding its own DNA as a platform for PayPal’s digital payment services. The initial leader in financial technology began in 1998 with Field Link, a company that developed encryption software for Palm pilots.
The market is not ready and palm pilots are not around for long. Instead of closing the operation, founders Peter Till and Max Levchin took the time to dig deeper and found out what innovation management consulting options they had and how to use them more intelligently.
Foreign market research has shown that e-commerce which was only a new technology at the time was not an easy way for customers to pay for online purchases. Today, eBay customers continue to pay by check or wire transfer because it is opposed by traditional credit card companies.
Based on their DNA encryption, Field Link is converted to confinity and their main service is PayPal. The rest is history. But PayPal must face growth again now, given competitors such as ApplePay, blockchain applications, and emerging digital currencies.
Marketing Elon Musk is also needed to make PayPal an international success, which is marked by money movements around the world.
There are also some important lessons from Facebook’s development and its undesirable dramatic developments. You might remember that Mark Zuckerberg was a psychology student when he made Facebook for other Harvard students.
This exclusive, non-public aspect of Facebook DNA has been coded at the company since its inception. The natural desire of people to become members of high-level groups has been in great demand.
With tremendous growth, Facebook is losing that exclusivity but continues to feel part of a special group that takes care of everything you do and post, from eating good food to watching a beautiful sunset.
When the search for internal combustion engines and oil began at the end of this century, Marcus Samuel, purveyor of the M. Samuel & Company Specialty store was ready. His reconfigured company, now the Shell Transport and Trading Company, already has a supply chain to take advantage of this growing industry.
Still, he is not happy with the oil. During the trade, Samuel’s ships sent British machinery and textiles to Japan and returned to customers in the Middle East and Europe with staple foods such as rice, silk, and copper.
Even after the company joined Royal Dutch Petroleum in 1907, the company defended the DNA of its original founder and looked beyond the horizon. Thanks to proper innovation management consulting!
This is one of the main reasons why the current megaconglomer leader, Shell, is not considered an employee of an oil and gas company. Shell always refers to energy companies. Who actually buys oil and gas? No one. What they buy is energy trapped in oil and gas. Nobody drinks oil.
It doesn’t cost anything alone. The only thing that is valuable is feeding the things that people need to survive. When better, less environmentally friendly energy resources are cheap and easy to obtain, no one will be interested in oil and gas. There is no place for such things in a sustainable future.
Shell is halfway to this future and maximize revenue from its current business model so they can take the leap when the time is right. The Shell Scenario Program asks managers and employees to ask the question, “What if …?” Your advice for the German energy network after the cessation of nuclear energy in 2022 includes a phase transition for electric fuel cells, wind generators and solar.
The most recent example of a company that is far from its origin is Nokia, which was recently revived by the transition from mobile devices to 5G infrastructure in the Russian Empire.
In 1900 their business was expanded to include electricity and then rubber tires before they entered telecommunications. What does all this have to do with it? Nokia’s DNA has to do with world connections, which carry it from books to lights to cars and cellular devices. This can translate this DNA into whatever new technology humans will use to make connections in the coming decades.
Innovation management consulting firms indeed helps businesses to construct a business plan and strategy that realigns goals around innovation. To find out more, visit our website.