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Analysis of Business Literature – The Medici Effect essay sample

 

‘The Medici Effect: Breakthrough Insights at the Intersection of Ideas, Concepts and Cultures’ is a book written in 2004 by Frans Johansson who is a Swedish-American entrepreneur. The term mentioned in the title of the book was coined by the author himself in order to describe those innovations which occur in the industry when disciplines and ideas intersect. Thus, Frans Johansson puts great emphasis on the significance of creating this effect in all business fields.

The main ideas which the author mentions in his book are as follows: innovation typically happens when various cultures and areas intersect; the necessity to create teams that consist of people who represent different teams in case a company, business or brand wants to present a totally unconventional product or service; the fact that the level of innovation and creativity throughout the process of working on a breakthrough idea hugely depends on the amount of fields that intersect (the more areas are involved, the better the result will be); the necessity to get rid of directional thinking; the importance of breaking down barriers, especially when it comes to implementing traditional methods; the realization that success will not come at first try as well as the significance of rewarding failure.

Taking everything into account, “The Medici Effect: Breakthrough Insights at the Intersection of Ideas, Concepts and Cultures’ is a great read for everyone who wants to learn more about discoveries in business as well as that steps one needs to take in order to come up with a breakthrough idea and finally implement it into life. The book also offers a few tips on how to masterfully use knowledge and experience that comes from the intersection of different fields.