Innovation is a process, not a thing, says Dell. At Dell, Inc. the company works to find the right mix between solving the needs of customers and using the correct technology. Additionally, Dell points out that the company has a team that focuses on future technology prospects for the next 18 months or later. Ideas and trends discussed by the team may turn into real projects or they are monitored to keep track of their influence in the industry.
Well, innovation is a process, not a thing, with a company like ours. And you don't want all the ideas to have to go through one person or one place, because that really slows things down. So we work to have all of our different product teams innovating around the things that we think are most important. And it's not just about listening to the customer. Yeah, you have to do that. But the customer won't always articulate the brilliant new idea. They might articulate a need or a desire, but what we have to do is understand all the technology ingredients and how they're evolving. And then the magic is really finding the right solution in the middle that combines all these needs and desires and wishes the customer has with all the technology ingredients. We also have a group at Dell whose only job is to focus on things that are 18 months or greater in the future. So they're not focused on the products that are coming out later this year, or even next year. They're focused on beyond that and all the materials and all of the things that could dramatically change the world. And then we meet with them about every six weeks. And we talk about two or three key things that might be really really important. We decide, is this something that's interesting? Should we turn this into a real project, or should we just keep monitoring it? So there's all sorts of things that we have to obviously monitor, to keep track of that can influence our industry.
Michael Dell lectures on Entrepreneurship for Stanford University students, May 1, 2007. Michael Dell is the founder of the computer company Dell, Inc. He created one of the most profitable computer companies in the world with annual sales of up to $50 billion American dollars. Dell has also become one of the wealthiest people in the world with a 4th place listing on the Forbes rich Americans list in 2005 with an estimated worth of $18 billion. In this Stanford lecture, he talks about taking caution in forming close friendships in a company, creating an effective communication infrastructure and starting a new company in an inefficient industry.
Related Links: http://www.dell.com/
Last Updated: Mon, Jul 16, 2007
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Original Course Name: Endeavor's Entrepreneurs' Summit.