Page 1: Introduction
“IF YOU CAN INVENT A BETTER MOUSETRAP THE WORLD WILL BEAT A PATH TO YOUR DOOR!”
Many of the best business lessons are based on the intelligent application of common sense. However, our own experience of everyday life suggests that people and organisations often fail to apply common sense. The statement “If you can invent a better mousetrap the world will beat a path to your door” can be used to illustrate sound business wisdom. Organisations today operate in highly competitive situations. In this environment, some organisations lose their way by sticking rigidly to existing products and business methods. They fail to recognise the need for change. Organisations which achieve the most successful growth patterns continually seek to improve and lead the field - they are seeking that ‘better mousetrap’.
This case study focuses on how FKI created an innovative new product which yielded outstanding benefits to its customers - the electricity supply industry.