Business Innovation: Making strategy and innovation happen

May 26, 2016 at IBC Innovation Factory, Kolding, Denmark

The Executive Leadership Programme is the essence of latest knowledge from IE Business School, which is consistemtly ranked among the top 5 European Business School according to Financial Times.

Our strategic challenges cannot be solved solely by traditional thinking and classic business models. We need new thinking and new ways of doing thinks – to be more innovative also in our business models. The rapid development makes it impossible to plan strategies that can run for many years into the future.

Our strategic thinking needs new inspiration. This inspiration could be found in fields like anthropology, where the crux is to understand customers and phenomenon in a broader sense is that one based on technology alone. Design is not only product design but also design of business models and the two combined. Just think of IDEO’s and Apple’s revolutionary strategies. This is the next wave of methods and tools to create winning strategies.

The ELP is about creating and delivering a more innovative and successful future for your business, and your role as a leader in making this happen.

We started by seeing the world differently, using Design Thinking. We then explored new strategies for our businesses through Gamechangers and New Business Models. The final module is about strategic execution, focused on what it takes to engage your business in your big idea, deliver it effectively, and your leadership role in executing that successfully.

However turning a great idea into successful results is never easy. The Economist says that 57% of companies fail to implement their strategies. Harvard found that companies typically only deliver 63% of their promised impact. And AMA found that only 3% of leaders think their corganisations are good at execution. Yet market leaders are 35% more likely to prioritise strategy execution over formulation. Both matter, but doing it matters most.

Agenda

This module follows on from the previous workshops on design thinking, exploring future strategies, and developing new business models. It focuses on the practical approach to implementing the best new ideas in your business, whether you are a corporate or small business:

Agenda Day 1

0900 – 1030: Playing to Win

Defining your future strategy
Defining your customer proposition
Defining your business model
Lafley’s 5 Steps

1100 – 1230: Aligning for Action

Defining the execution model
Structure and processes, capabilities and partners
Resources and rewards, people and culture
Galbraith’s 5 Stars

1330 – 1500: Horizon Planning

Future-back planning
Prioritising outcomes over three defined horizons
Actions required to deliver outcomes
Aligning deliverables and accelerating actions

1530 – 1700: Engaging Stakeholders

Making the case for action
Telling the story, pyramid thinking
Performance scorecards, goals and metrics
Mobilising yourself, your team, and your organisation

Agenda Day 2

0900 – 1030: Horizon 1, Launch and Lean

Launching your new strategy
Adopting “lean” ways of working
Fast action and quick wins
Action Plan: What will you do?

1100 – 1230: Horizon 2, Agile and Accelerate

Building momentum in the market
Learning to “pivot” when necessary
Accelerating action and delivering results
Action Plan: What will you do?

1330 – 1500: Horizon 3, Extend and Exponential

Making the shift to the new world
Sustaining momentum, innovation and growth
Creating exponential business performance
Action Plan: What will you do?

1530 – 1700: Leading to change your world

Leadership in today’s fast-changing world
Changing yourself, changing your business
Leading that drives innovation and practical action
Being bold, brave and brilliant

Lego CEO Jorgen Vig Knudstorp on leadership and strategy:

P&G former CEO AG Lafley on strategies for growth:

Starbucks CEO Howard Shultz on brands and innovation:

Tesla CEO Elon Musk on futures and being audacious:

Preparation

To get the most out of the two days, you will need to do some preparation:

Task 1: Test and improve your big idea

In the previous module you started to develop your big idea. You now have a chance to test it with customers and colleagues, and improve it …

Growth Opportunity … What is you big opportunity for growth? Does this fit with your business? What is the size of the opportunity?
Value Proposition … Who are the target customers? What are their real pains and gains, and what will you enable them to do better?
Business Model … How will you make this happen, the products and services to deliver, the channels and pricing, and resources?

Please bring an improved version of your business model to Kolding (the one page template is attached).

If you’d like to send it to me your one page business model in advance, for comment, email it to me at peterfisk@peterfisk.com

Task 2: Inspiration from the best leaders

Articules on strategy and exection (attached PDFs):
- A Playbook for Strategy, by P&G’s AG Lafley
- Cracking the Code, research by EIU
Videos on inspired leadership (linked below):
- Elon Musk … https://youtu.be/QGbGpC7o_Zo
- Jeff Bezos … https://youtu.be/ewM562NZPug

If you can arrive with your clearly defined concept, ready to implement, then we can have a much more effective workshop.

Additional resources

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