This is the third of a 10-article series of conversations published on the Time website, authored by myself and Nicha Ratana, with transformational leaders who will be storytellers at the BIF10 Collaborative Innovation Summit in Providence, RI, on Sept. 17-18.
“If you’re in business today, you’re running for office every day.” So says Alan Webber, co-founder of Fast Company magazine and a progressive Democrat who recently conceded his bid for governor of New Mexico.
Webber promoted an education-focused, pro-jobs campaign platform that leveraged his background in social business. The only candidate in the race not formerly involved in the state’s government, his supporters valued his outsider perspective and resistance to local political cynicism.
Running for office may seem to be a tricky venture for a media entrepreneur with a blunt, provocative journalistic record. But to Webber, running for governor was a natural culmination of his career-long mission to understand and transform broken systems. Read more
This is the second of a 10-article series of conversations published on the Time website, authored by myself and Nicha Ratana, with transformational leaders who will be storytellers at the BIF10 Collaborative Innovation Summit in Providence, RI, on Sept. 17-18.
Irwin Kula is an eighth-generation rabbi known for his fearless attitude about change — a rare quality among religious leaders who tend to adhere closely to tradition.
Kula, president of the National Jewish Center for Learning and Leadership (CLAL) in New York and the author of Yearnings: Embracing the Sacred Messiness of Life, has dedicated himself to opening up the wisdom of his 3,500-year-old faith to be in conversation with the world. Read more
This is the first of a 10-article series originally published on the Time website, authored by myself and Nicha Ratana, of conversations with transformational leaders who will be storytellers at the BIF10 Collaborative Innovation Summit in Providence, RI, on Sept. 17-18.
John Hagel speaks with satisfying precision. He has kind eyes and stern glasses, which together dominate the screen during a Sunday-afternoon Skype conversation.
As co-chairman of Deloitte’s Center for the Edge, Hagel hunts for unexploited capability on the “edges” of business and makes the case to include them on the CEO’s agenda. “The edges are most fertile areas for innovation,” he says. They are an important place to watch, because what happens at the edges transforms the core. Read more
My friend and Boston Globe innovation columnist, Scott Kirsner, has launched an interesting new on-line platform for corporate innovation executives. You will want to check out and subscribe to Innovation Leader where you will find lots of food for innovation thought and where this post originally appeared.
I used to think that if I just yakked long and loud enough, I could convince CEOs to embrace transformational innovation. It took me 25 years as a road warrior consultant, author, and accidental government bureaucrat to realize that proselytizing doesn’t work. If leaders don’t want to change, all the consulting jargon and fancy PowerPoints in the world won’t convince them to.
In those situations, no matter what lofty rhetoric the CEO uses in public or at company retreats about “creating an innovation culture” and encouraging everyone to think outside of the box, the best result you can hope for are incremental innovations to improve the performance of today’s business model. You never get transformational new business models — and you always get frustrated if you were hoping for bolder change. If you want transformational innovation, you have to find leaders who want transformational change and are receptive to organizing differently for tweaks than for transformation. After learning this lesson the hard way over many years, I no longer try to convince CEOs who don’t want to change, and instead try to find those CEO’s who do. Read more
#BIF9 carries a sense of homecoming, a reunion of sorts. The kind where all the crazy aunts and uncles gather, regaling us with tales of adventure and awe. Perhaps the family reunion metaphor is accurate; I believe that innovators are cut from the same DNA. We are insatiable optimists and see opportunity in everything.
We are curious about everything. We know that learning together is the best way to get better faster. We believe in transformation and disruption – both personally and across our industries. We are all storytellers, knowing that stories connect and unite us, and enable us to transform together. Read more
The key to unlocking the next wave of economic growth may be as simple as enabling more people to try more stuff. The industrial era was all about scale and squeezing out the possibility of mistakes. As a result we are too afraid to fail. Companies only take on projects with highly predictable results. Employees fall in line for fear of making career-limiting moves. How will we get better if the fear of failure prevents us from trying anything new? How will we make progress on the big system challenges of our time, if every time someone tries something transformational and fails, we vilify them? What if we reframed failure as intentional iteration?
Take the example of Better Place, the startup that set out to create a world full of electric cars with a novel battery swapping business model. In my book, The Business Model Innovation Factory, I highlight Better Place and its founder Shai Agassi as one of the best examples of business model innovation and the importance of a real world test bed. Read more
I had the pleasure of speaking at the 2013 Amplify Festival in Australia. Now that my jetlag has subsided I’m able to reflect on what was a wonderful event hosted by AMP, a leading financial services company in Australia. Congratulations to AMP and Annalie Killian, the festival’s remarkable curator, for catalyzing a week overflowing with inspiration and insight. More companies should consider hosting similar innovation immersion events open to employees and the local community. It was an easy invitation to accept for this innovation junkie. They had me at the event’s theme, Shift Happened Transformation Required!
One of the highlights of my trip down under was meeting Lucy Marcus, provocateur and global expert on corporate governance best practices. Lucy is a force of nature in and out of the boardroom and I thoroughly enjoyed our conversations on the oversight role of the board of directors for a company’s innovation agenda. We agreed that the board of directors has an important role to play and Lucy asked me to appear on her ‘In The Boardroom’ show on Reuters TV to share my top five board innovation imperatives for the board. The short video of our conversation below also serves as proof that we actually were in Australia. Check out the Sydney Harbor in the background!
This post was co-authored by Angela Maiers, founder of Choose2Matter, and originally appeared on The Huffington Post here.
Beware of random collisions with unusual suspects.
Unless, that is, you want to learn something new. In that case, seek out innovators from across every imaginable silo and listen, really listen, to their stories. New ideas, perspectives, and opportunities await in the gray areas between the unusual suspects.
It seems so obvious and yet we spend most of our time with the usual suspects in our respective silos. One of the most important silos we need to break down is the one between generations. Read more
In his State of the Union Address, President Obama made a big deal about manufacturing jobs as a central part of his economic vision for the country. “Our first priority is making America a magnet for new jobs in manufacturing”, he proclaimed. I support the president’s aim and passion to revive manufacturing, but to accomplish it we first have to jettison industrial era thinking. The industrial era and the 7.1 million manufacturing jobs lost in the U.S. from 1979 to 2012 aren’t coming back. We must create new 21st century manufacturing jobs that leverage what America is great at, creativity and innovation. Manufacturing will grow in the U.S. when we accelerate the use of technology to increase productivity, enable new business models designed for mass customization and unleash the manufacturers in all of us.
To begin, we need to recognize that manufacturing isn’t an industry sector, it’s a capability with plenty of opportunity for innovation. We take industry sector definitions for granted. As if industries were clubs with exclusive admission criteria and secret handshakes only revealed to companies that agree to play by understood rules. The industrial era was defined by clearly delineated industries, making it easy to identify which sector every company was competing in. It was all so gentlemanly really, as if competition was governed, like boxing, by a code of generally accepted Marquess of Queensberry rules. Companies were all assigned a numerical Standard Industrial Classification (SIC) code (now North American Industry Classification System, or NAICS) identifying which industry sector they fit in to. Read more
Companies fail at business model innovation because they’re so busy pedalling the bicycle of current business models they leave no time or resource to design new ones.
Most companies focus innovation efforts on new products and on driving efficiencies into current models. These are important activities, but not sufficient in the 21st century when business models don’t last as long and face disruption. This means business model innovation is the new strategic imperative. In this post I outline the top 10 reasons why businesses fail to innovate.
CEOs don’t really want a new business model
The most obvious reason companies fail at business model innovation is because CEOs don’t want to explore new business models. They are content with the current one and want everyone in the organisation focused on how to improve its performance. The clearest indication is when any discussion about emerging business models is viewed and treated solely as a competitive threat. Read more