When it comes to management style, it’s helpful to compare Apple with Sears, writes Felix Salmon. There are lots of reasons why Apple Stores succeeded while Sears stores have failed, not least the fact that people really want what Apple is selling.Apple is willing to spend whatever it takes to make its products exciting and desirable, while Sears repurchases stock. Apple’s investments pay off in innovative products, while Sears remains mired in selling the ordinary. “If you don’t want to revolutionize the retail experience, at least somewhere, somehow, you’re doing something wrong,”

This may seem to be counterintuitive to those of us in the “creativity” business but we must consider the source on this idea. It’s a philosophy that Steve Jobs and Apple use and it really strikes a cord with me. A good example that illustrates how agreeable that line of thinking is, would be the Pandora charm bracelet. Women have loved charm bracelets, from what I know, for more than fifty years. During that time the traditional, original charm bracelet existed – a gold or silver chain-like bracelet with charms added on. The bracelet becomes meaningful when customized with gold or silver charms that represent important things in one’s life. We buy the charms ourselves or they are given as gifts – from friends and loved ones over time – to create a very special, individualized piece of jewelry. The idea is simple – the product is built over time, does not require a large outlay to start with, creates an emotional, therefore important attachment by the consumer, and, it provides an ongoing revenue stream created by the idea of “add-on” parts (like the concept of replacement parts.)

The traditional charm bracelet has waned in popularity over the years, until recently when the modern-day Pandora brand charm bracelet was introduced. This is a fabulous example of “reinvention.” Using that premise, an old successful product was reinvented to become a new successful product. Brilliant I think.

Can you think of other products or services that fall into this type of reinvention?