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Clinical Assistant Professor Susan Batchelder helped create this video about business pathways for her students.
Description of the video:
WEBVTT 1 00:00:00.480 --> 00:00:03.480 Pathways make everything more efficient. 2 00:00:09.520 --> 00:00:12.600 But in business, established pathways often lead 3 00:00:12.600 --> 00:00:16.160 to missed opportunities and eventual obsolescence. 4 00:00:16.800 --> 00:00:20.000 Borders is closing and city is going out of business. 5 00:00:20.080 --> 00:00:21.720 Here's announces it will close dozens 6 00:00:21.720 --> 00:00:24.720 more stores as part of its cost cutting campaign. 7 00:00:24.760 --> 00:00:26.400 This really is the end of an era 8 00:00:26.400 --> 00:00:29.000 and blockbuster will close all of its remaining stores. 9 00:00:29.000 --> 00:00:32.000 Do you know what this is? 10 00:00:32.920 --> 00:00:35.760 Path dependance is like being stuck in a routine 11 00:00:35.760 --> 00:00:37.440 because it's what you're used to. 12 00:00:37.440 --> 00:00:40.440 Even if there might be better options available. 13 00:00:40.440 --> 00:00:43.200 Taking the same path over and over 14 00:00:43.200 --> 00:00:46.200 without questioning if there's another way to go. 15 00:00:46.440 --> 00:00:47.520 In business, 16 00:00:47.520 --> 00:00:50.400 it means that companies keep doing things the same way 17 00:00:50.400 --> 00:00:52.560 because that's how they've always done them. 18 00:00:52.560 --> 00:00:53.880 Which is understandable. 19 00:00:53.880 --> 00:00:56.640 After all, changing course can feel risky, 20 00:00:56.640 --> 00:00:58.520 or it could be too expensive. 21 00:00:58.520 --> 00:01:01.920 Or maybe change just feels too complicated or hard. 22 00:01:02.480 --> 00:01:05.280 We often don't realize how quickly time moves 23 00:01:05.280 --> 00:01:07.480 as established paths become locked in. 24 00:01:07.480 --> 00:01:09.560 Let's travel back in time for a moment 25 00:01:09.560 --> 00:01:11.360 and look at the BlackBerry, 26 00:01:11.360 --> 00:01:13.800 a pioneer of its age who was credited with 27 00:01:13.800 --> 00:01:16.440 bringing the very first smartphone to the market 28 00:01:17.760 --> 00:01:18.840 in 2008. 29 00:01:18.840 --> 00:01:20.120 BlackBerry's market cap 30 00:01:20.120 --> 00:01:24.160 reached an all time high of $65.1 billion, 31 00:01:24.720 --> 00:01:28.760 but only 16 years later it would drop down to 1.67 32 00:01:28.760 --> 00:01:33.360 billion and hold 0% market share of the mobile phone market. 33 00:01:33.960 --> 00:01:36.000 So what happened? 34 00:01:36.000 --> 00:01:38.600 BlackBerry had a staggering 43% 35 00:01:38.600 --> 00:01:41.600 market share in the early and mid 2000s. 36 00:01:41.760 --> 00:01:44.200 Their popularity surged among business 37 00:01:44.200 --> 00:01:45.720 professionals who benefit 38 00:01:45.720 --> 00:01:49.040 from having a singular device that could send emails, 39 00:01:49.320 --> 00:01:52.320 texts, make calls and search the internet. 40 00:01:53.000 --> 00:01:55.320 But the very thing that set them apart 41 00:01:55.320 --> 00:01:58.600 a query keyboard, would be their undoing. 42 00:01:59.360 --> 00:02:02.600 BlackBerry devices were tried and true, but offered little 43 00:02:02.600 --> 00:02:05.600 in the way of innovation or change over the years. 44 00:02:05.840 --> 00:02:09.360 Mostly, they refined a version of the same device over 45 00:02:09.360 --> 00:02:10.400 and over. 46 00:02:10.400 --> 00:02:12.440 This strategy worked temporarily 47 00:02:12.440 --> 00:02:15.920 up until Apple introduced the first iPhone in 2007. 48 00:02:16.440 --> 00:02:19.160 What had been a whirlwind, kickstarted by innovation 49 00:02:19.160 --> 00:02:23.000 of design, led to their failure to adapt to the marketplace. 50 00:02:24.080 --> 00:02:24.840 But not all 51 00:02:24.840 --> 00:02:28.360 examples of path dependance are even about one business. 52 00:02:28.840 --> 00:02:32.400 Some ruts last for thousands of years, literally. 53 00:02:33.120 --> 00:02:35.520 For nearly 1500 years, the Roman 54 00:02:35.520 --> 00:02:38.520 Empire ruled much of Europe and northern Africa. 55 00:02:38.640 --> 00:02:41.160 They conquered using an advanced military, 56 00:02:41.160 --> 00:02:43.720 but they kept control by among other things, 57 00:02:43.720 --> 00:02:46.920 frequent patrols by soldiers and two wheeled chariots. 58 00:02:47.880 --> 00:02:51.840 Their frequent patrols soon left wheel ruts wherever they went. 59 00:02:52.240 --> 00:02:55.240 Ruts that were four feet 8.5in apart. 60 00:02:56.280 --> 00:02:59.160 Local farmers soon learned that their wagons 61 00:02:59.160 --> 00:03:02.040 would have trouble following these convenient paths 62 00:03:02.040 --> 00:03:03.360 if they didn't adjust them 63 00:03:03.360 --> 00:03:06.280 to have wheels set at the same width. 64 00:03:06.280 --> 00:03:09.840 Later, when railways came along, they were initially built 65 00:03:09.840 --> 00:03:11.120 to move mining carts 66 00:03:11.120 --> 00:03:13.080 that were adapted from the wagons, 67 00:03:13.080 --> 00:03:15.760 so rails were set at the same width. 68 00:03:15.760 --> 00:03:18.960 When railway tracks became train tracks, locomotives 69 00:03:18.960 --> 00:03:19.800 were built to fit. 70 00:03:21.760 --> 00:03:25.080 When locomotives were replaced by today's high speed rail, 71 00:03:25.080 --> 00:03:28.080 even they were designed with the same wheel whip. 72 00:03:28.520 --> 00:03:30.360 Even today's space shuttles would have 73 00:03:30.360 --> 00:03:31.560 a solid rocket boosters 74 00:03:31.560 --> 00:03:34.560 that travel on train tracks to get to their destination. 75 00:03:35.920 --> 00:03:39.040 2000 years of no one questioning whether four feet, 76 00:03:39.040 --> 00:03:42.040 8.5in was the best width for those tracks. 77 00:03:42.360 --> 00:03:44.960 2000 years of past dependance. 78 00:03:44.960 --> 00:03:47.200 We see path dependance all around us. 79 00:03:47.200 --> 00:03:48.320 But how do we stop 80 00:03:48.320 --> 00:03:51.920 the metaphorical train on its four feet, 8.5in tracks? 81 00:03:53.040 --> 00:03:55.320 In fact, let's take it a step further. 82 00:03:55.320 --> 00:03:57.720 How do we reverse the process altogether 83 00:03:57.720 --> 00:04:00.000 to establish new pathways? 84 00:04:00.000 --> 00:04:00.960 I challenge you 85 00:04:00.960 --> 00:04:03.960 to start recognizing the pathways in your lives, 86 00:04:04.080 --> 00:04:07.080 because sometimes the most obvious answers 87 00:04:07.160 --> 00:04:10.160 are hidden in plain sight. 88 00:04:11.280 --> 00:04:12.600 So here's my question. 89 00:04:12.600 --> 00:04:15.240 In what ways have you or your organization 90 00:04:15.240 --> 00:04:16.200 become path dependent? 91 00:04:17.280 --> 00:04:19.040 What are some assumptions that have served you 92 00:04:19.040 --> 00:04:22.040 well in the past, but that could be limiting your future? 93 00:04:23.040 --> 00:04:25.240 Recognize pathways for what they are 94 00:04:25.240 --> 00:04:28.080 and don't let them limit your future opportunities.
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Description of the video:
WEBVTT 1 00:00:00.667 --> 00:00:03.253 Kelly Direct is a really 2 00:00:03.253 --> 00:00:06.256 special program. 3 00:00:08.425 --> 00:00:09.259 the uniqueness 4 00:00:09.259 --> 00:00:12.262 really lies in the people. 5 00:00:14.681 --> 00:00:18.226 from the moment we sat down and I said, here's my lesson. 6 00:00:18.226 --> 00:00:20.603 And there I hear some creative ideas 7 00:00:20.603 --> 00:00:23.606 we have and ways that we could help is tell this story. 8 00:00:29.696 --> 00:00:32.282 graphics, the quality, 9 00:00:32.282 --> 00:00:34.909 the whole production They're always looking 10 00:00:34.909 --> 00:00:39.873 to innovate, to engage, to, create really high quality 11 00:00:39.914 --> 00:00:42.917 learning experiences in different ways. 12 00:00:47.797 --> 00:00:50.008 we can record a lot of things on our own, 13 00:00:50.008 --> 00:00:52.260 but being an engaging online teacher is 14 00:00:52.260 --> 00:00:55.263 storytelling is important. 15 00:01:05.482 --> 00:01:06.149 Kelly Direct 16 00:01:06.149 --> 00:01:09.319 is the gold standard, and there's so much value there 17 00:01:09.486 --> 00:01:11.780 that it's the best program for a reason.
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