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"Strategic Innovation" by Peter Fisk

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Summary of Peter Fisk's Innovation Masterclass, 1 of 3, on the Global Advanced Management Program at IE Business School, in Madrid on 9 Sep 2019 ... More info at www.theGeniusWorks.comn or email peterfisk@peterfisk.com

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"Strategic Innovation" by Peter Fisk

  1. 1. STRATEGIC INNOVATION Prof. Peter Fisk Global Advanced Management Program, IE Business School, 9 September 2019, Madrid Part 1
  2. 2. Leonardo da Vinci
  3. 3. Shaping your own vision Leonardo da Vinci • Artist • Scientist • Anatomist • Sculptor • Botanist • Architect • Musician • Engineer • Inventor • Entertainer • Philosopher
  4. 4. Leonardo da Vinci 40 years before Nicolaus Copernicus, he proclaimed “il sole no si muove” – the sun does not move, dismissing the belief that the earth sits at the centre of the universe. 60 years before Galileo Galilei, he suggested a “large magnifying lens” could be used to study the surface of the moon and other celestial bodies. 200 years before Isaac Newton, he proposed the theory of gravity, that “every weight tends to fall towards the centre by the shortest possible way”, and that the Earth must be spherical. 400 years before Charles Darwin, he argued that man and monkey had the same origins, and how evolution has shaped the natural world around us.
  5. 5. Shaping your own vision Talent 1. Relentless Curiosity … an insatiable hunger to learn, to question, to search for better answers, and to articulate his ideas in pictures, and propose new possibilities.
  6. 6. Shaping your own vision Talent 2. Seeing More ... he observed things differently, using all his senses to appreciate richer detail, to align perspective and perception, and thereby to understand his subject better.
  7. 7. Shaping your own vision Talent 3. Thinking Bigger Vitruvian Man and the Golden Ratio “The span of a man’s outstretched arms is equal to his height” and “Every man at three years is half the full height he will grow to at last” … appreciating art and science, logic and imagination, he was able to think more broadly, embracing rigorous analysis whilst also trusting his intuition.
  8. 8. Shaping your own vision Talent 4. Making Connections ... to connect the unconnected, to embrace the fusion and intersection between the natural and physical world, the tiniest seeds to the stars above.
  9. 9. Shaping your own vision Talent 5. Embracing Paradox ... thriving on ambiguity and uncertainty, creating mystery and depth, be it the contrast in his sketches, or asking questions without obvious answers.
  10. 10. Shaping your own vision Talent 6. Courageous Action ... always seeking to prove his hypothesises, to experiment and test, to make his ideas tangible, and to do what nobody has done before.
  11. 11. Shaping your own vision Talent 7. Enlightened Mind ... constantly renewing mental and physical fitness, exploring new worlds to spark new ideas, not being a slave to work but living a full life.
  12. 12. Shaping your own vision Da Vinci’s Innovation Code 1. Relentless curiosity ... an insatiable hunger to learn, to question, to search for better answers, and to articulate his ideas in pictures, and propose new possibilities. 2. Seeing more ... he observed things differently, using all his senses to appreciate richer detail, to align perspective and perception, and thereby to understand his subject better. 3. Thinking bigger ... appreciating art and science, logic and imagination, he was able to think more broadly, embracing rigorous analysis whilst also trusting his intuition. 4. Making connections ... to connect the unconnected, to embrace the fusion and intersection between the natural and physical world, the tiniest seeds to the stars above. 5. Embracing paradox ... thriving on ambiguity and uncertainty, creating mystery and depth, be it the contrast in his sketches, or asking questions without obvious answers. 6. Courageous action ... always seeking to prove his hypothesises, to experiment and test, to make his ideas tangible, and to do what nobody has done before. 7. Enlightened mind ... constantly renewing mental and physical fitness, exploring new worlds to spark new ideas, not being a slave to work but living a full life.
  13. 13. INNOVATION STRATEGIES
  14. 14. “Innovation”
  15. 15. Shaping your own vision Innovation waves
  16. 16. WeWork
  17. 17. WeWork
  18. 18. WeWork
  19. 19. WeLive, WeGrow
  20. 20. What is innovation? +genius
  21. 21. Profit model Finance Networking 2. Networking ecosystem 1. Business model how the enterprise makes money Channel Experience Brand Customer engagement 10. Customer experience how you create an overall experience for customers 9. Brand how you express your offering’s benefit to customers Process Configuration Structure 3. Organisation and capabilities 4. Core process proprietary processes that add value 6. Product system extended system that surrounds an offering Product performance Offering Product system Service 7. Service how you service your customers 5. Product performance basic features, performance and functionality 8. Channel how you connect your offerings to your customers 10 types of innovation
  22. 22. Volume of innovation efforts Last 10 years Profit model Finance Networking Channel Experience Brand Customer engagement Process Configuration Structure Product performance Offering Product system Service 10 types of innovation
  23. 23. Profit model Finance Networking Channel Experience Brand Customer engagement Process Configuration Structure Product performance Offering Product system Service Cumulative value creation Last 10 years 10 types of innovation
  24. 24. Profit model Finance Networking Channel Experience Brand Customer engagement Process Configuration Structure Product performance Offering Product system Service Cumulative value creation Last 10 years 10 types of innovation
  25. 25. 10 types of innovation
  26. 26. 10 types of innovation
  27. 27. 10 types of innovation
  28. 28. ARM ARM Technologies
  29. 29. ARM Technologies
  30. 30. ARM Technologies
  31. 31. ARM’s ecosystem
  32. 32. How to innovate? +genius
  33. 33. INNOVATION FUTURE BACK
  34. 34. Thinking from the Future Back © Peter Fisk 2015 More details in the new “Gamechangers” book
  35. 35. +genius … bigger ideas, unlimited by today “Future Back”
  36. 36. Journey from the “future back” 2030 2020 2022 2024 2026 2028 Asteroid mining takes off Driverless cars nowdominate 3d printed food is normal Highresolutionbionic eyes Hyperloop launches inMumbai Micro-proteins becomepopular Vertical farming inArab/Africa DNA profiling for everyone Brainas control device LifeonMars 8bnpeopleonEarth Indiais largest nation Arctic icecap melts Carbonfuels arebanned Chinais largest economy SagradaFamiliafinished 97%assets nowintangible Educationdominates online First asteroid landing 2029 2027 2025 2023 2021 Wireless electricity inhomes
  37. 37. +genius
  38. 38. Why be 10% better? When you could be 10x better?
  39. 39. Stretch innovation
  40. 40. © Peter Fisk 2015 More details in the new “Gamechangers” book +genius 2025 2020 Futureback Now forward Start from the future back
  41. 41. © GeniusWorks 2018 www.theGeniusWorks.comwww.theGeniusWorks.com Growth horizons
  42. 42. © GeniusWorks 2018 www.theGeniusWorks.com Vision1 Vision2 Vision3 Growth horizons
  43. 43. © GeniusWorks 2018 www.theGeniusWorks.com Activity1 Activity2 Activity3 Growth horizons
  44. 44. VisionActivityResult VisionActivityResult VisionActivityResult Growth horizons
  45. 45. 48 INNOVATION ROADMAP What you do over the next 5 years … start by summarising Year 5, then Year 3, then Year 1 – future back © GeniusWorks 2018 www.theGeniusWorks.com VisionActivity VisionActivityImpact VisionActivityImpact Impact INNOVATION TOOLKIT
  46. 46. +genius
  47. 47. +genius
  48. 48. INNOVATION OUTSIDE IN
  49. 49. +genius Being the customer
  50. 50. Harley Owners Group
  51. 51. Business narrow view Business narrow view Consumer broader view Business Consumer Outside in
  52. 52. Shaping your own vision Starbucks innovation
  53. 53. 30 elements of value
  54. 54. Functional value
  55. 55. Emotional value
  56. 56. Meaningful value
  57. 57. What do you do?
  58. 58. Lime’s electric scooters to go
  59. 59. 63 INSIGHTS PYRAMIDS What matters most to your target customers - from rational to emotional, essential to aspirational? © GeniusWorks 2018 www.theGeniusWorks.com Customeressentials Customerenablers Customerenergisers INNOVATION TOOLKIT
  60. 60. GeekSquad’s market
  61. 61. Job to be done What benefits does the customer seek or desire, both rational and emotional? What are the negatives in their current experience, both rational and emotional? What is the customer trying to do – the job they want to do, or new goal to achieve? Gains Pains 67 CUSTOMER ENABLERS What if you thought bigger – with 10 times impact, rather than than 10% - How could you do it? © GeniusWorks 2018 www.theGeniusWorks.com INNOVATION TOOLKIT
  62. 62. Umpqua … Reinventing the bank
  63. 63. Umpqua Bank
  64. 64. Lime’s electric scooters to go
  65. 65. 76 REFRAMING YOUR WORLD Reframe your world – from how you see it – to how your customer sees it © GeniusWorks 2018 www.theGeniusWorks.com What? What do we do? What do we do for customers? Why? Why do we do what we do? What do we enable customers to achieve? INNOVATION TOOLKIT
  66. 66. www.thegeniusworks.com peterfisk@peterfisk.com

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