Property infrastructure is on our radar for the month of October. And, not surprisingly it got us to thinking about what infrastructure needs to be developed to create a better organisational leadership culture.
To answer this, we took inspiration from the Founder of Doblin Larry Keely who said “Innovation is the elegant integration of many things’. A sentiment also advocated by Callaghan Innovation Program Manager Ross Pearce – our thought-provoking Innovation READY guest speaker for Day 4.
He was so eye opening that one of our attendees said, ‘It was the best session we’ve had so far!’.
It’s certainly feedback we’re happy to receive. This program is very much our own Minimum Viable Product (MVP) to drive innovative thinking in our industry. Knowing that we’re got better over time tells us we’re delivering value to participants and validates we’re on the right path!
What did Day 4 teach us?
A number of revolutions are taking place as we speak.
They’re acting as immutable forces of change, providing the perfect storm for disruption. Whether technology, climate, energy, urban or social revolution – our industry must make themselves aware of them.
For example, we learnt that over the next two decades, 40% of NZ jobs will be at risk to automation. This statistic is no different for our Australian neighbours – so don’t think jumping across the ditch will save you!
How do we prepare for disruptions ‘perfect storm’?
According to Doblin, there are ten unique ways to innovate, which they call the ‘ten types of innovation.’
- Profit model – how you make money. Eg. Netflix turning the video rental industry on its head with a subscription model.
- Network – how you connect with others to create value. Eg. Target working with renowned external designers to differentiate itself.
- Structure – how you organise and align your talents and assets. Eg. Whole Foods building a robust feedback system for their internal teams.
- Process – how you use signature or superior methods to do your work. Eg. Zara’s ‘fast fashion’ strategy to move its clothing from sketch to shelf quicker.
- Product performance – how you develop distinguishing features and functionality. Eg. OXO Good Grips premium cost still has a loyal following due to its ‘universal design’.
- Product system – how you create complementary products and services. Eg. Nike+ parlayed shoes, sensors, apps and devices into a sport lifestyle suite.
- Services – how you support and amplify the value of your offering. Eg. ‘Deliver WOW through service’ is Zappo’s #1 internal core value.
- Channel – how you deliver your offerings to customers and users. Eg. Nespresso locks in customers with its useful members only club.
- Brand – how you represent your offerings and business. Eg. Virgin extends its brand into sectors ranging from soft drinks to space travel.
- Customer engagement – how you foster compelling interactions. Eg. Wii’s experience draws more from the interactions in the room than on-screen.
Interestingly, most effort is put in to product performance. However, the most value actually comes from innovating outside this space!
How can we overcome the impact of these revolutions?
The answer lies in thinking differently to how we are thinking now. This means we have to move from business management, to embracing innovation leadership.
By no means is this easy though!
We need support to make this happen. We need to be constantly hearing innovation and disruption messages so we can understand their implications and how it’ll impact our businesses.
To achieve this, our Innovation READY participants have found the camaraderie experienced on the course is invaluable. They’re surrounded by like-minded people, and are offered a level of support and encouragement by us on their journey that they don’t necessarily get in their own workplace – YET!
Transition to an innovation leader today!
Our Innovation READY program is successfully coming to its end now, with only one more day to go in October. After that we’ll be ready to take in the next group of participants who want to make the most of innovation opportunities and prepare for it.
Changes in thinking needed to move from managing to leading
|Business management||Innovation leadership|
|Have a leader||Everybody is a leader|
|Invest in tools||Invest in people|
|Follow best practices||Develop next practices|
|Play the game||Change the game|
|Start with what and how||Start with who and why|
|Usual behaviour||Curious behaviour|
|Complex decisions controlled at top||Complex decisions distributed|
|Goal driven||Discovery driven|
|Solution driven||Value driven|
It has to be said that innovation is a business discipline and needs to be treated as such. Our newly minted innovation managers coming out of the course will be taking this message to their firms and making it happen.
The benefits from learning about innovation are exponential – and limited only by your own thinking.
If you’re interested to dip your feet in the water a little – we’re looking to run a day session on mindset change in November. It’ll be focused on giving practical steps for organisations to start making these leadership changes. And, you’ll also have a chance to see what our Innovation READY program is all about first hand, by talking to our current attendees!
To find out more, get in touch with our General Manager Industry Development Boaz Habib today!