Preparing for the Future – Part One


I had the pleasure of hosting two sessions recently at the TCS Innovation Forums in London and in New York City. The sessions, which explored the need to prepare for the future, involved thought leaders, futurists, and various leaders across multiple domains. They were structured with several five-minute descriptions of forward-looking themes, and once context was set, a discussion with the broader leadership group was moderated. The sessions focused on education and awareness, rooted in a strong belief that leaders must prepare for and shape our emerging future. Leaders of the early 20th century were experiencing the fascination of a great period of invention, while at the same time the horror of crisis. That crisis, in the form of World War One, the Great Depression, and World War Two, served as a catalyst that mobilized human action. Without it, the democratization of innovation and the most prosperous period in our human history likely never happens – at least not to the extent that it did.

It is my belief that similarities exist between the era of great invention and today. Future historians may look back and deem this emerging era to be the greatest in human history. However, as described in my post on Mapping the Path of Innovation, human action must again be mobilized if we are to shape a future of human flourishing versus suffering. What are the catalysts that mobilize human Action this time? I shared the results of a Poll I Conducted to provide a point of view. This critical need was first positioned in a post that summarized What I Expect in 2019.

To open the sessions, I shared three key themes from my expectation post: Acceleration, Possibilities, and Convergence. If we truly are entering another period of great invention, what action is required by leaders to ensure a positive path forward? This post will summarize the key themes from the TCS London Session, positioning the importance of answering that question. I will follow this with a summary of the New York session.

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Ecosystem Readiness


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:

  1. The mental models that drive an organization
  2. The lens in which an organization views value creation and capture
  3. The orientation of an organization – which in most cases is shareholder value
  4. 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).

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The New Growth Playbook


Simon Torrance

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
  • “Simon is a thought leader extraordinaire!” Director of Leadership, Global Training Company
  • “Simon adds a lot of value” CEO, Global Packaging Company

More at: http://www.newgrowthplaybook.com

 

Ecosystem Models are Key to Future Strategies


Our structures and institutions are increasingly challenged by rapid innovation in science and technology. As  Klaus Schwab stated in his book Shaping the Fourth Industrial Revolution, we face the task of understanding and governing 21st-century technologies with a 20th-century mindset and 19th-century institutions. One such institution is our vertically-oriented industry structure. We are in the early stages of An Ecosystem Evolution, where the boundaries between industries are completely blurred. The creation and capture of value is increasingly horizontal in nature, ultimately giving Rise to a Finite Set of Ecosystems.

As this shift occurs, our strategies are iterative in nature and guided by a constantly evolving view of emerging ecosystems. At the heart of this work lies Ecosystem Models. These models provide a range of possibilities inherent in emerging ecosystems, and  identify three critical facets:

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The Strategic Foundation


In my last post, I explored the evolution of business in the industrial age. This Fourth Iteration of Business establishes resilience on a foundation of automation and intelligence. Resilience may be more important than the productivity gains that are sure to be realized as we progress towards Business 4.0, providing the capacity to recover quickly as the pace of shifts accelerates. This visual represents a strategic foundation for Business 4.0.

The Strategic Foundation

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The Fourth Iteration of Business in the Industrial Age


The evolution of business in the industrial age has mirrored the progression of three industrial revolutions; moving us from its first iteration to our current form. The emerging Fourth Industrial revolution ushers in another shift, culminating in something that likely looks much different than its predecessors. A brief look at this journey shows us the linkage:

Iteration One: The first industrial revolution introduced mechanization and had significant impacts on business and the labor force. Business in this period was transformed, as the steam engine enabled us to replace human and animal-based muscle with machines.

Iteration Two: Several forces converged during the second revolution to elevate our standard of living. The post-war period that followed was defined by a high level of consumption that drove business in the mass production era. Henry Ford famously said: “Any customer can have a car painted any color that he wants so long as it is black.”

Iteration Three: The third industrial revolution revolved around information technology, electronics, and communications, ushering in a period of computerization and automation. Businesses were once again transformed through significant gains in productivity and a shift away from Henry Ford era standard products to more customization.

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At the Heart of Digital Transformation


Creating a strategic foundation

To transform is to change in form, appearance, structure, condition, nature, or character. It is an overly used word that can be made to fit several narratives. Yet, given its definition, the dynamics of what is sure to be a volatile and complex future should compel us all to transform. I believe however, that the narrative must change. This is not a technology discussion, and it is not a digital discussion (although digital is the reason we are here). Rather, it is discussion of likely structural shifts that alter our beliefs and intuitions. These shifts will fundamentally change the way we think about organizations.

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