I posed this question in 2018 in a post on healthy life extension: Has the first person to live to 200 already been born? I ask that question in various forums to provide a good example of how one scenario can challenge current institutions and traditional thinking. In that earlier post, Johnty Andersen, had this perspective on that question:Continue reading
In a post back in 2013, I focused on value ecosystems and how they would blur the lines between industries, making Industry constructs irrelevant in the future. At the time, I said the phenomenon would accelerate and companies would ultimately identify the relevant ecosystem(s) that enable their growth strategies. It was clear back then that ecosystems are complex, relationship-oriented, and represent future growth opportunities that are increasingly outside a company’s traditional business.Continue reading
So far, I have revisited Automation, Digital Transformation, and Autonomous Vehicles. This reflection on the past continues with a look at experiences. Back in 2013, as part of a series on digital transformation, I focused on what at the time I referred to as Next Generation Experiences. Back then, the issues of customer experience, customer-centricity, and customer intimacy were top-of-mind and dominated many executive discussions and conference agendas. I envisioned a next generation experience anchored in how customers think about it, not the way functional silos do. Those experiences would be delivered by the stakeholder ecosystem, requiring experience strategies to include all stakeholders whether internal or external.Continue reading
The electric vehicle drumbeat is intensifying as we hear more pronouncements about the end of gas-fueled vehicles. Practical realities will likely have their say on timing, but nonetheless, we must envision a future where electric vehicles rule the road. In that future, what becomes of gas stations? Here is a quick video that explores that question.
Nanotechnology may be able to create many new materials and devices with a vast range of applications, such as in nanomedicine, nanoelectronics, biomaterials energy production, and consumer products. On the other hand, nanotechnology raises many of the same issues as any new technology, including concerns about the toxicity and environmental impact of nanomaterials, and their potential effects on global economics, as well as speculation about various doomsday scenarios. These concerns have led to a debate among advocacy groups and governments on whether special regulation of nanotechnology is warranted.
We owe so much to the frontline heroes that serve society in critical times. The pandemic has shown us just how important and under-appreciated these individuals are. We owe them a debt of gratitude. Healthcare is one of those areas where we see both heroics and exposure. The lack of digital progress has been exposed across sectors by the virus. That is the bad news. The good news is that extreme events like this can serve as accelerants. This recent Article describes the turning point that COVID-19 likely represents for healthcare. Rethinking healthcare for the digital age should be a top priority (as it should across all industries).Continue reading
At a Milken Institute Health Summit in 2017, I participated in a panel discussion that focused on effective methods for healthier aging on a vast scale. One of the key discussion points was how Loneliness and Isolation were a leading cause of death among the elderly. Here in 2020, that concern has been amplified by the pandemic. During that panel discussion, I mentioned the use of companion robots to deal with this growing crisis. As society continues to age, the problem of isolation and loneliness grows more acute.Continue reading
In a recent Article, author Greg Satell describes strategy in a post-Digital world. Michael Porter positioned Competitive Advantage and dominating value chains as the foundation of strategy. Like many of our institutions and ideas, multiple forces are pushing that view into the dustbin of history. Two key forces are the shift to horizontal ecosystems versus vertical value chains, and technology cycles outpacing planning cycles. I have written extensively about Ecosystems and their impact on the value equation. Maximizing bargaining power among suppliers, customers, and new market entrants gives way to value-sharing scenarios where all participants in an ecosystem win.Continue reading
We’ve been focused on flying cars since the Jetsons showed us the possibilities. With all the distractions of the last several months, it is easy to lose sight of the progress made on several innovation fronts. The flying car is no exception, as describes in this recent Article by Charlie Osborne. The vertical take-off and landing (VTOL) industry is plowing ahead. A vertical take-off and landing (VTOL) aircraft is one that can hover, take off, and land vertically. Japan plans on sending these flying cars into the skies in three years. Per the article, Japan-based SkyDrive has developed a two-seater eVTOL vehicle currently at the testing stage. In addition to Japan, Uber, Boeing, Airbus, AeroMobil, and others are exploring the VTOL space. Flying taxis is one area of focus. A quote from SkyDrive captures it well:
I just finished another book and added it to my Book Library. Ecosystem Edge was written by Peter J. Williamson and Arnoud De Meyer. The move towards ecosystems as an organizing principle for market activity has been a foundational piece of my research on the future of business. You can find that research here. The book goes into depth on the what, why, and how of ecosystems. Anyone looking for detailed guidance on how to execute in this ecosystem world, this is the book for you. Supported by several real-world examples, the authors explore the different aspects of succeeding in the ecosystem world. I highly recommend the book. The abstract is included below.
I have a fundamental belief that we will not solve the challenges ahead using the institutions and mechanisms of the past. These structures served us during a manufacturing era that looked very different than the world that has emerged in the last three decades. In a recent Article authored by Margaretta Colangelo, she provides an example of this phenomenon. In a time when populations are living much longer than previous generations, leaders are beginning to realize that institutions must be organized in a different way. Ms. Colangelo provides an example in the Finance space, stating that traditional banks weren’t designed to serve a large number of clients living a long time. Today, banks have a small number of clients who are over 100 and they are outliers. In the next decade that demographic will increase dramatically.
Recently, someone shared a very interesting inforgraphic on the future of cars. I get these requests to share content on a regular basis, and I assess them based on their insight and potential value to my readers. This is an example of a very well done Infographic with a great deal of insight. Below is an introduction and the infographic. Enjoy!
As platform business models increasingly gain board-level attention, the ecosystem conversation intensifies. David Kish – a TCS colleague – recently worked with the broader team (Kevin Mulcahy, Rose Rodriguez, Bill Quinn, Bill Bosak) to author an article focused on shifting platform and ecosystem dynamics. I am sharing Dave’s article via this guest post.
Since the advent of the internet, the combinatorial effect of innovation in science and digital technologies has rapidly driven the world toward a platform economy where software, apps and APIs enable every human activity and radically change how people interact and create value. Companies like Google, Microsoft, Facebook, Amazon, Apple, Alibaba and Tencent, which represent seven of the top ten valued companies by market capitalization, are leading this transformation and have created an imperative for all companies: develop platform capabilities and adapt your strategy to survive and succeed in the platform economy.
Uber and Hyundai have teamed up to deliver on the Jetsons flying car future. One of several flying car initiatives likely to be realized by the end of the decade. Air taxis represent a further evolution of the Mobility Ecosystem. People point to the flying car as an example of future predictions that did not pan out. Well, much like everything else in this era of exponential progression – get ready. Uber Air is one example of services emerging in this space.
Thoughts I shared at this years TCS Innovation Forum in New York City.
I recently authored an article on ecosystems and digital transformation along with leading platform strategist Simon Torrance. Here is a brief abstract of the article. You can read it Here on the TCS website – along with other perspectives on digital transformation.
As Frank Diana and Simon Torrance explain in “Defining Your Digital Ecosystem: The First Step in a Machine First™ Transformation,” many leaders are no longer looking at strategy and industry structure in the ways of a non-digital world. Instead, they’re analyzing how emerging ecosystems—networks of stakeholders, including business partners, suppliers, customers, and competitors that interact digitally to create value are supplanting traditional industries as the organizing construct. For example, in a mobility ecosystem, automakers no longer just make cars; they must redefine the very notion of automobile ownership and how people get around.
As the world continues its march towards platform-supported ecosystems, organizational readiness becomes a critical area of focus. Four facets of an organization contribute or detract from success in an ecosystem world:
- The mental models that drive an organization
- The lens in which an organization views value creation and capture
- The orientation of an organization – which in most cases is shareholder value
- The organization’s culture
The growth engine that ecosystems represent will serve as a forcing function, pushing Organizations to Mature across these key facets. For example, I firmly believe that over time, a transition occurs from shareholder value to stakeholder value. This transition places purpose at the center, with shared value at its core (Click on the Visual to expand).
As horizontal ecosystems become the primary means of value creation and capture, organizations will embrace various monetization strategies. Given the proven growth potential of platforms (the foundation of ecosystems) and the increasing collapse of Industry boundaries, the urgency to understand ecosystem dynamics is growing. Ecosystems enable producers and consumers to interact in ways that create shared value. In many cases, stakeholders will play either role at any given time – a phenomenon some have called side switching.
Colleague and fellow Futurist Simon Torrance has developed a new online course titled: The New Growth Playbook. It provides new research and course content focused on business model transformation for the digital economy. You can access this new online course for senior executives Here.
It’s based on new in-depth analysis of the business model performance of over 500 leading companies, and provides an holistic approach for moving the valuation needle, particularly for incumbent organisations.
Special offer for my network: 20% discount if you book using this link. There’s also a free sample video case study here: How Amazon creates new growth flywheels. The course is getting some great feedback already, so pass the details along to others. Some early feedback is highlighted below:
- “Brilliant analysis.” Senior Partner, Global Management Consultancy
- “I recommend this course to all leaders.” Digital Director, Global Bank
- “Simon is at the forefront of digital trends.” Group Chief Strategy Officer, Global Telco
- “Simon is one of a very small number of senior consultants who truly understands platform-based business models and how traditional enterprises can successfully incorporate them” Senior Director, European Media Company
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More at: http://www.newgrowthplaybook.com