The enemy is already within. The flood gates are open. Can GE recover?

Managing cash, balancing this out with your liabilities and obligations, knowing your market dynamics, and equally, having a good understanding of where the future growth lies, are all essential for managing any healthy business.

It is then by utilizing robust research and development projects, combined with an acquisition strategy that augments growth, management creates sustainable and evolving business model.

These are the hallmarks of effective leadership. through managing your future development, mostly through research and development, that when combined with a sound acquisition strategy, that you believe will augment your present internal growth, so as to look to sustain the business, longer-term, becomes your contribution as a leader.  These are the bedrock of good corporate management. It seems within GE, all of these have been forgotten or collapsed. Why, I mean how can that have happened?

For a company reputed to have a good management discipline and focus, yet this year, 2017, for GE, it seems all of these are lying in tatters, or some parts will lose out as a consequence, into the future. What has gone wrong at GE?

The last few months have been some of the most shocking ones in GE’s history. GE has been around since 1892 and was one of the corporate titans of the 20th Century. Since the crisis of 2008, GE has been struggling to fully regain its position but all its actions were regarded very highly as “making good progress” as it maintained a relentless momentum of shedding and acquiring operations, as well as pursuing a buying back of its shares, and paying out the beloved GE dividend. This certainly provided a highly dynamic environment for managing the business. There has been a consistent muttering that this was not fast enough or clear enough. Well, GE faces a very different set of realities today.

Today, GE is in a very dark place at this moment. It is managing a full-blown set of crisis, that has investors highly spooked and demanding answers. Its share price is hovering around $17 per share, whereas, in February of this year, it was ranging in the $31- 32 price. Its market valuation, once over $400bn, is now closer to $150bn.

This is a long read, as the story itself is only just emerging and is a complex one. I simply have to step outside my own innovation comfort box to try to get to grips with the breaking GE story. It has shaken me.  I assume you already have some awareness of what is happening in a company that has been held up over so many years, as a model of good management. Continue reading

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Platform models are the new order of our innovating business need

Part of my shifting my own innovation advisory work was to build out a greater understanding of the power of ecosystems platforms and customer experience collaborations. This site here https://ecosystems4innovating.wordpress.com/about/   explains why there is this dedicated approach in my focus. Also oulining the reasons I chose to shift part of my business over to developing a “certain” knowledge expertise on ecosystems and platforms last year so to help others and equip myself for a growing part of the future of innovation.

Increasingly we are looking constantly for better value. We are increasingly restless and explorative. The big question for many companies that simply sell products is can they benefit from making changes in these platform models. How do they go about it to capitalize on this restlessness and constant need of new experiences? Is the stand-alone product model breaking down? Do the more traditional approaches to customers, those that are more supply sided, still serve their needs today? The answer is no, platforms are building very different connected experience for customers, they are voting with their digital clicks to move their business to these offerings. Are you building platform businesses? You should.

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Are you coming to the Innovation Virtual Summit?

So there is an innovation virtual summit about to happen between 28th November 2017 and 8th December 2017. Each day you can watch for free the different video sessions, with new video sessions released on a daily basis. The final schedule will be sent by email after your registration.

For some weeks this has been in preparation and as I am lucky enough to be one of the curators and hosts, I had the chance to chat with SIX terrific and highly knowledgeable people around different  subject that are dear to all our hearts, overcoming barriers and resolving many tough issues surrounding innovation.

So What Is Your #1 Question or Challenge in the next 6 to 18 months?

There is a very good chance there is an answer or a trigger into getting you closer to resolving your questions and challenges by tuning into and listening to some 28+ Innovation Experts Sharing Their Strategies and Tactics That Work.

The organizers crowdsourced the questions from their global community of 29,000+ corporate innovators, and they never imagined they would get such a huge response. The point is “Whatever challenge you’re trying to tackle right now, someone else already has figured it out. So by asking these 28 innovation experts to answer them, we clustered the questions into broader themes and then explored these in exchanges that had different depth and breadth to them that can give real value to many of the ‘burning’ questions we, as innovators, have to face.

It’s free, and you can attend on any device, from anywhere you have an internet connection. The interview talks will be available online to watch at your own convenience – there’s no strict schedule to follow.

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Building upon the four essential pillars for innovation

It is always welcome to read a thoughtful article that reminds me, no, it actually inspires me, by reinforcing my own belief that innovation is progressing, even if this is sometimes frustratingly slow. The innovation architecture is progressively being recognized and put into place, it’s forming the building blocks of the innovation platform we need to build upon, ones for more radical innovation outcomes.

So the article “Want to Win at Business Model Innovation? Put these Four Pillars in Place” was written by Rick Waldron, ex Nike, and Intel.

He grabbed my attention with this comment early on in the article:

“ Little attention has been paid to the architecture required to stand up a sustainable, impactful new business innovation capability. Those of us battling it out in the trenches are left to learn the hard way”

I so very much relate to this central recognition that most organizations lack a solid, well thought through innovation architecture, it is one of the real reasons innovation is constantly under-delivering.

Rick points out:“Corporate innovation efforts by and large continue to fall far short of moving the needle in any significant, sustained way or of delivering on the promise of future-proofing companies against ever-increasing disruptive forces.

While a growing number of companies have begun to find some success in implementing design-centered thinking, lean innovation techniques, jobs-to-be-done analysis, and empowering employees to solve customer and internal process problems, much of the focus has been on supporting current business models – i.e., on incremental rather than game-changing innovation. But this work is merely the table stakes for staying in the current game”

The view offered in this article suggests four pillars to be put into place: 1) A Committed and Engaged Leadership, 2) A Comprehensive Innovation Strategy, 3) A Sustained Mindset Shift and 4) A Comprehensive Tool Kit.

Rick’s article just gave me the chance to go back and review my thoughts and relate his excellent suggestions and thinking into some of the work I have written about in this area. So I wanted to link them up a little more in my mind on some diverse and previous thoughts that I have written about and hopefully link them far more into yours and this article of Rick’s. Continue reading

Innovation System Thinking on a Sunday! What, no roast or glass of wine? Later.

We all spend our Sundays in different ways. Some spend it recovering from the Saturday night, other spend large chunks of the day traveling to meet up with friends or family. Others go off to the gym, jog, take a run, or simply enjoy a day of pursuing something differently from their working week. We do different things. Mine is usually a mix of exploring and researching around innovation in the morning, a couple of hours at the gym, a walk to finish off and then a mixture of enjoying a nice home-cooked meal and a relaxing evening.

That part of the day spent on innovation, researching and reading, tends to partly stimulate my week ahead in different ways, as I try to reinforce what I’ve learned by applying this to the work gathered around me at that point in time. I am looking to see how it does help shape and influence it, it ‘fuels’ the coming-in week in some part. Of course, this greatly depends on what I am working on, for others and, for myself. Some weeks I just don’t find the opportunity to apply it, so that “Sunday thinking” sits there for another day or week, or even months before I revisit it or connect it back up. Continue reading

Moving to a Digital World totally across your Business is highly challenging

Transformation is very hard at the best of times for all of us to undertake. Digital transformation forces us to work with mostly emerging, constantly evolving technologies, and then apply these in an integrated way into an existing business. This stretches our abilities significantly, as we may remain unclear of the finished design for quite some time.

We have to evolve it, as we go. With anything that is evolving in front of our eyes, we will need to recognize some of the decisions we will make will turn out to be wrong but made as a good judgement at the time, on ’emerging’ evidence, not proven. Achieving a digital transformation is becoming really essential for innovation, helping to enable your ability to deliver sustained growth through making all the ‘connections’ come together in different ways, than ever before; in evaluations, analysis, in collaborations and in the process from discovery to eventual commercialization.

Digital transformation executed well is a really big undertaking. It goes way beyond making a series of incremental improvements to become cloud-ready as are supposed to build in and reflect social, mobile and digital technologies in the solution set. We need to fundamentally transform our processes by opening up and engaging with customers in dramatically different ways, in real-time, in constant exchanges and connected ways. Everything needs to be tracked and traced. Continue reading

Putting some dynamic tension back into the innovation system

I have been having some writers block recently and I was not sure how to unlock some random thoughts I was having in the past weeks, then in a great conversation I had today, with a fellow innovation colleague, it started to “reveal itself” in where I needed to go to give a new sense of repurpose.

A collaboration is being mooted between us but until there is a point of common understanding much stays under partial wraps until we both get to a more comfortable point, where we feel it can go for us but it certainly triggered this post as a starter.

The thinking hinges around the state of innovation today, how it is fragmenting in  a myraid of parts, all seemingly contributing; yet it seems learning has been replaced by personalized experience and the chase for individual knowledge. Mostly this does not get embedded back in the company, the ones who are paying for this exposure.

I was wondering if there was a decent ‘return on investment’ being made by the company or was it just being front-loaded on the individual, so they gain and then can take that understanding elsewhere, or simply set up their own shop of ‘innovation expertise’. The ROI and the Return on Learning seemed to be mostly heading out of the door, leaving the organization that made the investment, devoid of a return.

My feeling is this should change and we firstly establish a “System of Record” for innovation that brings the individual learning into a collective one, a “system of collective engagement” that enables all within the system to gain from and design innovation solutions, from a more ‘whole’ system thinking perspective, that gives innovation sustaining power connecting the individual to the organizations needs. Continue reading