Local outlets for news fall short of reporting on anything that happens outside the borders of the city, state or the country and in most cases they stories are trivial. I recently started subscribing to the Economist in an attempt to better understand the world around me. It has not taken me many issues to fall behind in my reading. Last night I spent time with the issue covering June 9 - 15th which features a story on Apple and its rise again to the top. The iPhone marks the third major milestone in the companies history preceded by the iPod and the imac. It is a very exciting time for the industry, it is also an exciting time for consumers. As a Microsoft  employee, we often look across the field and see a competitor. With a little laugh we shrug and claim that our percentage of  "market share" is enough to keep Apple in check. Or, is it?  

In an article titled "Lessons from Apple" there are four important lessons which other companies could learn from Apple.

First. Innovation can come from without as well as within. Sometimes referred to as "network innovation", it is the concept that it is okay to admit that not all good ideas start at home.

Second. Design new products around the needs of the user, not the demands of the technology. Apple has consistently combined clever technology with simplicity and ease of use.

Third. Small companies should sometimes ignore what the market says it wants. The iPod was ridiculed when it was launched in 2001.

Fourth. Fail wisely. Learn from mistakes and try again.

While none of these are new or particularly innovative on their own, it is a good reminder of how to achieve success in today's marketplace.