AJ van Bochoven - Cambridge Consultants · “Get some tips about how to ... risks; too comfortable...
Transcript of AJ van Bochoven - Cambridge Consultants · “Get some tips about how to ... risks; too comfortable...
Head of Strategic Innovation & Bootcamp Director
AJ van Bochoven
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WORKSHOP
YOUNG RISING STARS
CROSS INDUSTRY
PRESENTATIONS
FACILITATED DISCUSSION
NETWORKING
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“Discussion with the
members who came from
different industries for
the same goal”
“Get some tips about how to
make the first step to
make innovation”
“Learning that it's important
to visualise the future
and work backwards to identify what skills,
partnerships, etc. are
required to realise this”
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During Bootcamp, we discussed 3 main subjects around Business Transformation
Why is there a need for business to transform?
What are the tools we can use to determine the
direction for business transformation?
How do we implement this transformation?
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During Bootcamp, we discussed 3 main subjects around Business Transformation
WHY – THE NEED FOR BUSINESS TRANSFORMATION
Why is there a need for business to transform?
What are the tools we can use to determine the
direction for business transformation?
How do we implement this transformation?
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We asked the delegates “what is Business Transformation?”
WHY – THE NEED FOR BUSINESS TRANSFORMATION
“Changing business & operating models to
deliver breakthrough value, which
enable to cope with shifts in market
environment
Medical Product Company”
“ By creating new products and
services, to change customer’sstandards of value
Consumer Product Company”
“Create a new value by current or
new technology and scheme
for customers
Electronic Component Company”
“An activity to change the
major value chain or
the customer type of a
company
Industrial Company”
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Make fundamental changes to business
in order to stay competitive
in an evolving business environment
WHY – THE NEED FOR BUSINESS TRANSFORMATION
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WHY – THE NEED FOR BUSINESS TRANSFORMATION
Our Bootcamp delegates identified many interesting examples of business transformation
Online book store
Web services
Camera film
Cosmetics
Kimono textiles
Wearable technology
Car parks
Car sharing
ESTABLISHED COMPANIES THAT HAVE TRANSFORMED
Communications
Medical Data Sharing
DISRUPTORS
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WHY – THE NEED FOR BUSINESS TRANSFORMATION
Our Bootcamp delegates identified many interesting examples of business transformation
Online book store
Web services
Kimono textiles
Wearable technology
Car parks
Car sharing
ESTABLISHED COMPANIES THAT HAVE TRANSFORMED
Communications
Medical Data Sharing
DISRUPTORS
Camera film
Cosmetics
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During Bootcamp, we discussed 3 main subjects around Business Transformation
WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
Why is there a need for business to transform?
What are the tools we can use to determine the
direction for business transformation?
How do we implement this transformation?
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WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
“Lots of companies don’t succeed over time.
What do they fundamentally do wrong?
They usually miss the future.Larry Page, Co-Founder of Google ”
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INNOVATION
Get ready for business transformation with visioning and innovation
WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
BUSINESS TRANSFORMATION
VISIONING
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Visioning methods inspire staff, illuminate the way forward and can initiate collaborations
WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
Method
TRENDS
DISTINCTLY
DIFFERENT
VISIONS
FUTURISTIC
CONCEPTS
Investigate Paint pictures Create
DefinePersonas &
scenariosVisualise
BACKCASTING
R&D STRATEGY
Translate
into today’s
activities
Through collaboration Beyond the project teamINSPIRE
INITIATE Conversation Co-creation Innovation
Benefits
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At Bootcamp we presented an example Vision 2030 and refined this with participants
WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
Vision 2030: “Social pressures & mental wellbeing
U
NI
V
E
R
SI
T
Y
Developed countries have seen significant
lifestyle changes over the past 12 years…
Advanced
automation and AI
technologies force
redeployment
across many sectors
The gig
economy
continues to
drive mass
adoption of
flexible
working and
more
entrepreneuri
al lifestyles
Smart digital
assistants, IoT,
autonomous
vehicles and the
continuing rise of the
service economy
allow people to take
more control of
when and where
they spend time off
work
Longitudinal
research studies
provide a better
understanding of the
link between digital
behaviour and
mental wellbeing
Challenges
include little
time spent
offline with
family and
friends due
to digital
addictions
and
distractions
Bootcamp refinements
Future of work
▪ More control over job
choice
▪ Still majority lifetime
employment
▪ Increased responsibility
to collaborate with older
generation
Increased gap between
rich & poor
Housing crisis
Societal pressures
▪ Technology will ‘solve’
isolation
▪ Monitor mental health
with AI
Trends & Insights
▪ Selected mega trends
▪ Gen Z focus groups
Future of work is
uncertain
Inequality
(rich & poor)
Housing
crisis
Singles & isolation Bootcamp participants immersed themselves
in a distinctly different future
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We then used 2018 examples and our Vision 2030 to innovate future transformations
WHAT – TOOLS, DIRECTION AND GOALS FOR BUSINESS TRANSFORMATION
Communications
Car parks
Car sharing
Vision 2030: “Social pressures & mental wellbeing
Developed countries have seen significant lifestyle changes over the
past 12 years…
Advanced
automation and AI
technologies force
redeployment across
many sectors
The gig
economy
continues to
drive mass
adoption of
flexible
working and
more
entrepreneuri
al lifestyles
Smart digital
assistants, IoT,
autonomous
vehicles and the
continuing rise of the
service economy
allow people to take
more control of when
and where they
spend time off work
Longitudinal
research studies
provide a better
understanding of the
link between digital
behaviour and mental
wellbeing
Challenges
include little
time spent
offline with
family and
friends due
to digital
addictions
and
distractions
Innovating future transformations
2018
exa
mpl
es Car is part of electricity
demand management
Car becomes small
house or hotel
Not just for humans,
also distribute goods
Communication
augmented with emotion
Multi-sensory
communication
Dynamic filtering
of communication type
Bootcamp participants were SUPER creative!
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During Bootcamp, we discussed 3 main subjects around Business Transformation
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
Why is there a need for business to transform?
What are the tools we can use to determine the
direction for business transformation?
How do we implement this transformation?
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HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
“Most companies that are great at something—like AOL dialup or
Borders bookstores—do not become great at the new things people
want, because they are afraid to hurt their initial business.Reed Hastings, CEO of Netflix ”
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5 principles of successful business transformation
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
1Formulate strategic vision
Anticipate and take a broad view of customer demand
2Create positive momentum
Show some quick wins and ‘there is no way back’
3Stakeholder management
Identify committed and reluctant leadership and manage them actively
4Decide whether to set up a separate innovation organisation
Strive for continuous transformation and avoid complacency
5Establish key metrics and communicate continuously
Strong communication helps to win support from key stakeholders
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Bootcamp participants identified four key enablers to innovation and business transformation
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
Threats can inspire innovation &
enable business transformation
Good governance and process
that enables speed is key
Strategic clarity with employee
consensus drives progress
An entrepreneurial mindset is
critical for business success
SENSE OF CRISIS FAST DECISION MAKING A COMMON GOAL TECHNOLOGY & CURIOSITY
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However, three fundamental barriers were also highlighted by Bootcamp participants
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
Organisations are afraid to change & accept
risks; too comfortable with current business
Starting projects is slow and takes too much
effort; employees are busy with daily tasks
Colleagues are difficult to convince about
new ways of working; operations too fixed
CONSERVATIVE CULTURE
AND FEAR OF CHANGE
LARGE EFFORT NEEDED
TO INITIATE PROJECTS
ESTABLISHED WAYS OF WORKING
AND PAST SUCCESSES
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Separate new market exploration
activities and build positive momentum
through quick wins
Set up dedicated ‘transformation’ budget
and lead by example
on rapid decision making
Provide the necessary tools and metrics
to enable and motivate employees
The barriers can be overcome with focused effort to achieve culture change
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
Assess and clarify risks
Explore new customers
Consider separating business
transformation activities
Failure to change may result in employees
changing companies
Prioritise activities provide time and budget
to explore new businesses
Support & encourage employees to attend
conferences & benchmark competitors
Top management should explain go/no-go
decisions
Develop new ways of working for staff
looking to transform the business
Train staff in business transformation
Change senior management when
necessary and incentivise some to
innovate for the long-term future
Cambridge Consultants’ perspective
CONSERVATIVE CULTURE
AND FEAR OF CHANGE
LARGE EFFORT NEEDED
TO INITIATE PROJECTS
ESTABLISHED WAYS OF WORKING
AND PAST SUCCESSES
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“ Innovation and business transformation sounded a bit difficult to me
before the Bootcamp.
But we can go through small steps to make it easy to do
innovation and business transformation.
This was exciting. ”
HOW – UNLEASH INNOVATION TO CATALYSE BUSINESS TRANSFORMATION
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KEY TAKEAWAYS
Business transformation is essential for long term success
Leaders need to recognise the barriers and engage directly with rising stars to overcome barriers
Unleash your rising stars with the right tools and environment to innovate for the future