Category Archives: Business

Hallmarks of Innovative Business Paradigms

 

Ryan Ly
Ryan Ly

Seasoned talent agent Ryan Ly has spent more than 15 years of leadership in the entertainment industry. He served as the head of Creative Artists Agency LLC’s Television Literary Department for four years before assuming his current role as the principal of Curate Entertainment. While operating in executive capacities, Ryan Ly has developed the ability to identify innovative business paradigms, of which there are at least the following three hallmarks:

A business paradigm is innovative if it has improved the product or service offered to the end user. For example, before the ballpoint pen, people used dip pens. But dip pens leave smudges, a shortcoming addressed by the ballpoint. Today, people continue to rely heavily on ballpoint pens because they perform better.

A business paradigm is innovative if it has improved the process of creating products or delivering services. Henry Ford has perhaps developed one of the most popular process innovations in history. When he implemented the world’s first moving assembly line, the time required to produce an automobile was significantly reduced from 12 hours to 90 minutes.

A business paradigm is innovative if it has improved the public’s perception of an established product or service. For example, Levi Strauss & Co. originally produced clothing for manual workers. Over time, its products have developed into a sought-after fashion brand.

Advertisements