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Lecture # 2 Strategic Management
Role of Serindipity in Business
Dr.K.Prabhakar
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Please see the next slide and tellme what information you get fromthis?
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It is Scotchgard Patent
and it is an happy accident-What is an happy accident?
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Seredipity
Serendipity is when someone findssomething that they weren'texpecting to find. In the simplest of
words, it means a "happy accident".
The fact is it is derived from
Sanskrit!
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The Sri Lankan Connection
The first noted use of "serendipity" in theEnglish language was by Horace Walpole. Ina letter to his friend he said he formed it fromthe Persian fairy tale The Three Princes ofSenendip; the heroes were always making
discoveries, by accidents and sagacity, ofthings they were not in quest of". The name
stems from Serendip, an old name forSrilanka from Arabic Sarandib,from SanskritSimhaladvipawhich literallytranslates to "Dwelling-Place-of-Lions
Island"
http://en.wikipedia.org/wiki/Sanskrithttp://en.wikipedia.org/wiki/Sanskrit8/4/2019 Lecture 2 Strategic Management
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Importance of Sagacity
One aspect of Walpole's originaldefinition of serendipity is "sagacity"ofbeing able to link together apparently
innocuous facts to come to a valuableconclusion. Thus accident inventionsare as important as other types of
inventions.
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Pencillin Another example of serendipity in science is
associated with Alexander Fleming and hisdiscovery of pencillin against the serious diseasesat the time. He accidentally left a petri dish
of Staphylococcus bacteria open and a moldhad got inside which had appeared to have killedaround the bacteria. It turned out that it was thefungus Pencillum and he turned the fungus into a
groundbreaking anti-biotic.
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Prepared Mind The French scientist Louis Pasteur also
famously said: "In the fields of observationchance favors only the prepared mind. This isoften rendered as "Chance favors the prepared
mind. Shakespeare expressed the samesentiment "All things are ready if our minds beso."
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What iscommon in all
these images ?
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Intution and Innovation should notbe a standard operating procedure
'Inoneselflies thewhole worldand if you knowhow to look and learn, then the door is there andthe key is in your hand. Nobody on earth can giveyou either the key or the door to open, except
yourself.
Reference: ' Krishnamurti in 'You are the World'.
http://www.google.co.in/imgres?imgurl=http://www.carnaval.com/saturnalia/initiation_relief.jpg&imgrefurl=http://www.carnaval.com/initiation/&usg=__Zn1aHiwV18lbjxSB8I1Jq4klntI=&h=201&w=233&sz=15&hl=en&start=6&sig2=t873r4jBJmLfysRwDsmEDQ&zoom=1&tbnid=ownAE4ND7NINiM:&tbnh=94&tbnw=109&ei=RPUTTur6HIrlrAf-tPCHBA&prev=/search?q=Initiation&um=1&hl=en&biw=1366&bih=607&tbm=isch&um=1&itbs=1http://www.google.co.in/imgres?imgurl=http://www.carnaval.com/saturnalia/initiation_relief.jpg&imgrefurl=http://www.carnaval.com/initiation/&usg=__Zn1aHiwV18lbjxSB8I1Jq4klntI=&h=201&w=233&sz=15&hl=en&start=6&sig2=t873r4jBJmLfysRwDsmEDQ&zoom=1&tbnid=ownAE4ND7NINiM:&tbnh=94&tbnw=109&ei=RPUTTur6HIrlrAf-tPCHBA&prev=/search?q=Initiation&um=1&hl=en&biw=1366&bih=607&tbm=isch&um=1&itbs=18/4/2019 Lecture 2 Strategic Management
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The innovation has to be sustainableand fulfilling to humanity
The fall of human society has not occurredovernight. It has taken many centuries, manymillennia in fact, for the potentials and inherentgenius of the human being to degrade into
present condition. We are still inherently genius by nature and
central to the theme of this programme. Becausewe deny nature to the point of global pollution and
the destruction of our own bodies, our spiritualityand intelligence dwindle proportionally.
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Serendipity and Business M.E.Graebner describes serendipitous value in
the context of the acquisition of a business as"windfalls that were not anticipated by thebuyer prior to the deal": i.e., unexpected
advantages or benefits incurred due to positivesynergy effects of the merger.
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Innovation and Business
Success Ikujiro Nonaka points out that the serendipitous
quality of innovation is highly recognized bymanagers and links the success of Japaneseenterprises to their ability to create knowledge not
by processing information but rather by "tappingthe tacit and often highly subjective insights,intuitions, and hunches of individual employeesand making those insights available for testing
and use by the company as a whole".
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Blindspots Analysis Serendipity is a key concept in Competitive
Intelligence because it is one of the tools foravoiding Blind Spots (see Blindspots analysis)
http://en.wikipedia.org/wiki/Competitive_Intelligencehttp://en.wikipedia.org/wiki/Competitive_Intelligencehttp://en.wikipedia.org/wiki/Blindspots_analysishttp://en.wikipedia.org/wiki/Blindspots_analysishttp://en.wikipedia.org/wiki/Competitive_Intelligencehttp://en.wikipedia.org/wiki/Competitive_Intelligence8/4/2019 Lecture 2 Strategic Management
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Bahramdipity
Bahramdipity describesthesuppressionof serendipitousdiscoveries or research results by
powerful individuals. This occurs in mostorganizations that were driven byindividuals who are incompetent to lead
others.
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Meet Patsy OConnell Sherman
Sherman's 1947 high school aptitude test indicated shewould be most suited to the role of a housewife. Shermandemanded to take the boys version of the aptitude test.
The results reflected Sherman's interest in science andlisted dentistry or chemistry as her potential career path.
My opinion is the present day aptitude tests did notchange much from 1947.
Digression:Please read my article; An Analytical Study
on Assessing Human Competencies Based on Tests (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=163
2503 )
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1632503http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1632503http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1632503http://papers.ssrn.com/sol3/papers.cfm?abstract_id=16325038/4/2019 Lecture 2 Strategic Management
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What we learn from this?
Fail; and learn
from Failures
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Teach children or employees to fail!Yes. You can learn from failures.
"Anyone can become an inventor as long as theykeep an open and inquiring mind and never overlookthe possible significance of an accident or apparentfailure.
you can encourage and teach young people to
observe, to ask questions when unexpected thingshappen.
You can teach yourself not to ignore theunanticipated.
Just think of all the great inventions that have come
through serendipity, such as Alexander Flemingsdiscovery of Penicillin, and just noticing something noone conceived of before.
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Thermodynamically ImpossibleProduct
That challenge was met by Patsy Sherman, ayoung chemical researcher who joined 3M in1952. Sherman was assigned to work on aproject to develop a rubber material that would
resist deterioration from jet aircraft fuels. Patsy Sherman and her colleague, Sam Smith,were working on a project when they observedthat the accidental spill on a shoe would not washoff nor would solvent remove it. The area resisted
soiling. They recognized the commercial potentialof its application to fabrics during manufactureand by the consumer at home.
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Scotchgard Scotchgard was first sold in 1956, however, Patsy
Sherman and Samuel Smith obtained U.S. patent#3,574,791 in 1973, for the method for treatingcarpets, now known as Scotchgard. The name
Scotchgard is a combination of the words Scotchand a misspelling of the word guard.
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Present State of Scotchguard
In 1999, the United States Environmental ProtectionAgency (EPA) began an investigation into the class ofchemicals used in Scotchgard, after receiving information onthe global distribution and toxicity of perflurooctanesulfaonate (PFOS),the "key ingredientofScotchgard.
The Compound perfluorooctanesulfonamide (PFOSA), aPFOS precursor, was an ingredient and also has beendescribed as the "key ingredient of Scotchgard. Under USEPApressure,in May 2000 3M announced the phaseout of theproduction of PFOA, PFOS, and PFOS-related products.
3M reformulated Scotchgard and since June 2003 has
replaced PFOS with perfluorobutanesulfonicacid (PFBS). PFBS has a much shorterhalf-life in people thanPFOS (a little over one month vs. 5.4 years). In May 2009PFOS was determined to be a persistent organicpollutant(POP) by the Stockholm Convention.(Source:Wikipedia)
http://en.wikipedia.org/wiki/Perfluorooctanesulfonamidehttp://en.wikipedia.org/wiki/Perfluorobutanesulfonic_acidhttp://en.wikipedia.org/wiki/Perfluorobutanesulfonic_acidhttp://en.wikipedia.org/wiki/Half-lifehttp://en.wikipedia.org/wiki/Persistent_organic_pollutanthttp://en.wikipedia.org/wiki/Persistent_organic_pollutanthttp://en.wikipedia.org/wiki/Stockholm_Convention_on_Persistent_Organic_Pollutantshttp://en.wikipedia.org/wiki/Stockholm_Convention_on_Persistent_Organic_Pollutantshttp://en.wikipedia.org/wiki/Stockholm_Convention_on_Persistent_Organic_Pollutantshttp://en.wikipedia.org/wiki/Persistent_organic_pollutanthttp://en.wikipedia.org/wiki/Persistent_organic_pollutanthttp://en.wikipedia.org/wiki/Half-lifehttp://en.wikipedia.org/wiki/Half-lifehttp://en.wikipedia.org/wiki/Half-lifehttp://en.wikipedia.org/wiki/Perfluorobutanesulfonic_acidhttp://en.wikipedia.org/wiki/Perfluorobutanesulfonic_acidhttp://en.wikipedia.org/wiki/Perfluorooctanesulfonamide8/4/2019 Lecture 2 Strategic Management
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Please do be
innovative. It hasno barriers except
you.