Chapter 1
A metaphor meaning change begins in less obvious or overlooked areas before reaching the center.
“snow melts from the edges”
What term describes early signs that suggest a potential shift in the market before it becomes obvious?
Early Warnings
What is the difference between an industry and an arena?
An industry has fixed competitors and boundaries, while an arena focuses on broader customer needs, substitutes, and trends
List porters 5 forces
Threat of New Entrants, Bargaining Power of Buyers, Bargaining Power of Suppliers, Threat of Substitutes Rivalry Among Existing Competitors
What kind of employees are leaders less focused on leading them to miss important changes in the market?
Frontline employees
What is the main strategic risk of waiting for strong evidence before responding to early warnings?
Being too late to respond to the change (or losing competitive advantage)
According to the core insight, what happens when the “job to be done” changes?
The entire arena shifts
What perspective does design thinking stem from?
Customer perspective
What are the four stages of an inflection point?
Hype, Dismissive, Emergent, and Maturity.
According to McGrath, what must leaders do after identifying early warnings to stay competitive?
Experiment and adjust early
What is one common early warning sign that a company may be missing disruption?
Customers choosing “good enough” alternatives.
What are the two theories that explain how entrepreneurial opportunities are formed?
Discover Theory and Creation Theory