Others wing it and hope that their charm, talent and knowledge of the product or service they are pushing will get them the sale.
Not surprising, given the complexity of these products coupled with the less than impressive skill-set of your average broker, regulators have found that brokers peddling structured notes generally lack knowledge of the risks of the product themselves.
That institutional knowledge adds to the value of the product.
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The second kind of knowledge is public, information easily copied or obvious from looking at the product.
Nick Vitalari and I called this radical adjacency and it reflects the importance of profound human knowledge over product.
They have a wealth of knowledge in how buyers measure success, how value is defined and changes of time, how well the product achieves target outcomes, and customer relationship and engagement expectations.
Now, a huge opportunity exists for these industry experts to deploy their knowledge culled from years of development work into the ideation process of a potential product.
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Relationships are what foster sustained innovation, product or repair improvements, and the creation of new knowledge.
At least that's the word from a Reuters source with "direct knowledge of Nokia's product roadmap" who says Nokia will only launch one new Linux smartphone next year.
The staff typically has no product knowledge and they have no interest in offering you any type of service.
When asked by me, neither my dad, nor numerous friends and contacts in the working world who similarly attended HBS can offer up concrete examples of knowledge gained there that elevated their work product once graduated.
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