Fluid Markets Demand Discipline

Hal R. Varian, professor of business, economics and information management at the University of California, Berkeley explains “Kaizen, the practice of continuous improvement,” in today’s NYT.

Kaizen doesn’t just mean a business should keep trying new things. Rather, it refers to a disciplined process of systematic exploration, controlled experimentation and then painstaking adoption of the new procedures.
The most successful online businesses are built on kaizen, though few of those who carry out the testing would recognize the term, since many of those who created these online businesses were in grade school in the 1980s.
The online world is never static. There is a constant flow of new users, new products and new technologies. Being able to figure out quickly what works and what doesn’t can mean the difference between survival and extinction.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative direction at Bonehook in Portland, Oregon.