Analogy of Farmer Traps
Watch: Better and Faster: Innovation keynote speaker Jeremy Gutsche – CEO Trend Hunter
https://www.youtube.com/watch?v=VFshvhzcCVw
The prescribed video analyses 3 businesses using the analogy of farmer traps and hunter instincts with 3 points each.
Using one example from the talk and one example of a product or service or case study from your area of interest, evaluate whether this analogy is true (or not) for successful/unsuccessful innovations and their sustenance.
LEARNING OUTCOMES:
This assignment is an exercise to help understand the drivers of innovation and success through real life case studies and examples and to pick-up on ideas that may not seem to work in theory but exceed expectations practically.
Remember to have fun with your research and assignment!
DIRECTIONS:
Guiding Pointers:
• You may select a successful brand/company or one that needs to revive its strategy to rejuvenate themselves to become competitive.
• Research the history, trajectory, and perhaps controversial events (if any) of your chosen examples, and based on that, decide if they fall into the ‘Farmer traps and are complacent, repetitive and protective OR they are insatiable, curious and willing to destroy like hunters.
• Use the methodology, development process, marketing strategy – or any element of the selected company that makes them unique or new to support your claims or help in reviving the product/service.
• Feel free to use an example from your area of interest that contrasts your chosen example from the video – it need not necessarily be similar.
• NO Apple products please. For more information on Analogy of Farmer Traps checkout this: https://www.encyclopedia.com/economics/news-and-education-magazines/farmer-poultry
