A regional bank used Smith’s "Innovation Stack" audit to discover that its friction point was not regulation but a 19-step internal approval process for customer refunds. By reducing it to 3 steps (guided by Smith’s counter-tactics), the bank turned a cost center into a retention driver. The PDF’s framework attributed a 14% increase in NPS (Net Promoter Score) directly to reduced friction.
Most business books celebrated the “Eureka moment.” But his father’s PDF argued that breakthrough ideas often slept for years. “Keep a ‘toy box’ of half-finished thoughts. An idea from 2005 might solve a problem in 2010.” David realized he had been discarding his own “failed” prototypes too quickly. david smith exploring innovationpdf
David Smith Subject: Business Strategy, Futures Thinking, and Organizational Change A regional bank used Smith’s "Innovation Stack" audit
: Integration of macro perspectives (like Kondratiev's long wave theory) and micro perspectives (like the Technology S-curve). Most business books celebrated the “Eureka moment