Delivering Future Impact on Performance
As demand is more volatile today what becomes more important is the work to be done, not the work done.
Surprisingly Adam Smith identified this important difference back in 1776.
This can be explained as the work done is the accumulated knowledge, which has built up and been embodied in the firm’s results with the innovations achieved in the past and is seen as the tangible capital.
The work to be done is how well it can adapt to change. In the past century, we operated in the mass production era, with systems with standard goods and stable market conditions, the work done was equivalent to the ‘work to be done.
In today’s global market, with its rapid technology diffusion, disruptive and constant change with an emphasis on servicing the work to be done is more important than the work done and intangible assets are fundamental to this.
The work-to-be-done provides the intellectual capital to react to changing demand for the required future value creation that needs to be sustaining, to be done.
Work to be done is the need for our future growth and well-being to be derived from innovation activities. These so much made up of intangible parts will provide the new wealth of organizations in the knowledge sharing economy of today and the near future.
We need new forms of evaluation to measure the real asset wealth of the organization to understand the points of intensity, their connected dynamics and what is required to reconfigure the changing capabilities and capacities needed to grow in the future
You do need to find out more about the emerging Work to be done approach as it is a far more dynamic place for innovation to happen.
The Work-to-be-done is focused on connecting to the emerging areas of Organizational need being faced in today’s rapidly changing markets and diminishing resources
We need to focus on the points of value that come from growing understanding
* The new Work-to-be-done in organizations
* The future of work is through exploiting the systems of engagement.
Connecting Dynamics
We are entering the world of innovation ecosystems where broader, more complex innovation challenges, through greater collaborations can be achieved. So to help, there is a dedicated site to building the arguments and exploring options for your future here in collaborative designs and you have found it! This is where the future of work will be undertaken. The need to learn to collaborate, to extend and exchange knowledge is of vital importance
Collaborative Ecosystems are forging a new direction and momentum that requires the capabilities of more than one to deliver what is becoming increasingly possible through technology and the network effect we see through our growing connections.
For many today, business is simply not working, it remains a disappointment for a variety of reasons, especially for those leading organizations required to be seeking out new growth, operating in increasingly volatile and tough markets where disruption and copying are increasing the pressures. Something has to change and it is this recognition that it can come from managing in highly collaborative ecosystems that can provide part of the answer.
We are finding ourselves in a race to the bottom when it comes to maintaining a competitive edge. As soon as the product is available within an ever-decreasing time, it is being copied and any advantage has vanished. Can we continue to chase our tail?
We require a different way of thinking.
This is more centred on building a more robust, sustaining value undertaken through ecosystems.
We all need to explore ecosystems, understand the delivery mechanisms of platforms along with other collaborative methods and push towards the new need of today, to deliver a seamless total solution that provides customers what they are constantly asking for, to solve their needs and give them greater engagement and experiences.
This thinking is driven by a need for new products and services and experiences, otherwise, we believe customers will continue to turn away from discrete, disconnected products and services increase over time
Shaping and introducing new ecosystems in thinking and design is not easy but it has enormous potential to transform competition and deliver on this ‘seamless experience’ that will be valued and recognized by its unique set of offerings. It can become the unique competitive positioning due to this connected ecosystem of collaborators, it offers an advantage to all engaged in its potential as it has diversity, dynamics, differentiation and distinctiveness in its design and delivery
Future Building
Why ecosystems have come of age in the business world.
To explore and exploit ‘the new,’ we have the opportunity to combine technology and leverage relationships to extract ‘greater’ meaning. Building a network of contacts, we are scaling and developing a more productive potential for something new.
We can, through data and exchanges, link up the real world and relate the physical and data worlds. Actually, we are building a digital-physical twin as we understand what is going on, explore how we can change it, and then compare this back in the digital world, that mapping back for all participants to work upon and extend it out. We are creating value by combining technology and relationships in any ecosystem design.
The value of Ecosystems thinking is critical today
I focus on Ecosystem thinking, many of my thoughts can be found on a dedicated posting site ecosystems4innovators, where I explore much around ecosystem thinking and platform designs
The ability to delve into or broaden our thinking gives us these opportunities to extend what we have or create something new. In any ecosystem evolution, ‘something’ or ‘someone will exploit a gap, a niche, and utilize this. It takes time if it cannot build on its capabilities in that space, it needs to build up its environment around it.
We often limit our capabilities and capacity because we do not ‘stray’ from the knowns into the unknowns. Ecosystems that encourage pushing frontiers lead us often to find that unexplored point. The combined realms of digital and physical meeting points allow us to do this in faster ways than ever before. We can reach wherever we want to go.
Taking the time to focus on the critical resources for our future will determine the impact you can achieve- in the marketplace, for shareholder return, for a vibrant future
–The impact areas need to address:
– New structures, skills and competencies
– The need to network and have greater collaborative sharing
– A climate that fosters constant, ongoing learning
– A real intellectual capital understanding of the value and its worth
– The ability to seek out value creation and extraction activities so as to provide the impact areas for future competitive performance
We can help in exploring these with you. We all need to dive deeper to expand our hidden horizons and open our thinking to new possibilities.
Undergoing any transformation must be for a reason as it can incur a lot of pain before you get to the real gain. Moving closer to this future coming faster to us need we can see digital transformation everywhere, it is actually all around us.
Customers today feel growing empowerment, in choice in personalization, in knowing the products or services they are buying are meeting their needs and they are becoming increasingly intelligent to meet these choices they are making.
Companies need to increasingly interact with customers, as close or actually in real-time to learn, adapt and deliver to their evolving needs. This requires a company to become far more ‘highly automated and adaptive’ than a listening organization.
The alignment of technology, the use of increasing levels of connectivity and evaluations can deliver significant news ways to assess what is valuable and what can be innovated to provide increasing value back to your customers.
Learning to be responsive and adaptive becomes key
To get to this transforming point we need to build in a faster adaptation of business strategies and turn out faster innovative and creative outcomes that meet these needs as the key to this.
Our transformation journey needs to embrace the cloud, mobile, data and networks and increasingly reliant on higher levels of analytics to interpret and translate information, turning this into insights, into ideas, into innovation that delivers fresh growth and adds a greater impact that delivers increased value to your customers.
Relationship and Network Management
Today we need to build more alliances and networks to enhance our abilities to ‘connect’ to the world so we can tap into the sources of knowledge that lie outside our own organization.
By looking outside we open up. More and more demands are being placed on us via our customers, suppliers, our regulators and a host of other stakeholders all wanting to contribute to our existing knowledge.
We struggle to adapt to these new external pressures but our structures, processes and systems need to adapt and support these changes. We need to acquire, anchor and transform this flow of new knowledge into future new worth.
We all need to be more flexible, adaptable and agile so our resources grow their capacity to absorb and strengthen the competency and capability in new more dynamic ways.
Providing Future Thinking
I provide future thinking as part of my advisory work. and these views expressed here form part of the offering to position organizations for a different “future impact”