innovation reading club - funky business nov2011 v1.0

READING CLUB - CITEXVI

Angela Vazquez Quintian

8 NOVEMBER 2011

CITEXVI - 8 NOVEMBER 2011

THE BOOK

“Manifesto of what our time requires from business firms and their leaders“

Key words: Global Village Talent Competitive advantage Tribalization


THE AUTHORS

Dr. Jonas Ridderstrale

• Business speaker, writer and thinker.

• Specialized in international business, global innovation, and product development efforts in multinationals

• Visiting professor at Ashridge Business School (UK) and IE Business School (Spain).

Dr. Kjell A. Nordström

• Consultant, writer and public speaker.

• Focused on corporate strategy, multinational corporations and globalization.

• Responsible for the International Business course at Stockholm School of Economics.

The 2005 Thinkers 50 ranked Nordström and Ridderstråle at number nine internationally and put them on number one of Europe business gurus.


F

FUNKY S.A.

YOU FUNKY

FEELING FUNKY

OUTLINE FUNKY BUSINESS

FUNKY TIMES

FORCES OF FUNK

THE FUNKY VILLAGE

CONCLUSION

DISCUSSION

PROPOSALS FOR NEXT R.C.


FUNKY TIMES (I/II)In the past, a company had a great idea and exploited it for years before competitors. Then, the original idea was repeated in another country for more years.

PRESENT: making the difference gets harder

Talent Highly qualified employees

Globalization No borders

Time Living in real time


FUNKY TIMES (II/II)FUNKY FUTURE Future is unknown, but who is going to create it?

People able to develop change, evolve, innovate!

But in a society of high diversity, is innovation enough? Change must be fast and unique to maintain competitive advantage

FUNKY BUSINESS should renew its organization: Management Leadership


FORCES OF FUNK (I/II)Socio-economic landscape is changing rapidly so it’s required to understand the main forces behind:

TECHNOLOGY VALUES

INSTITUTIONS

DRIVECHANGE


FORCES OF FUNK (II/II)TECHNOLOGY IT get better and faster

INSTITUTIONS The evolution in institutions is slow but has great impact on our world. Capitalism, nations, companies, family concept are being renewed.

VALUES In the past, the values where local, currently are global But still move the individual, the society, the corporations.

High connectivity Total Transparency POWER


FUNKY VILLAGE (I/II)Who can define the world today? Deregulated global economy Surplus of everything Fusion (ideologies, food, product/services…) Customization: the customer as a co-designer/producer Tribalization: new tribes based on attitudes, experiences or knowledge Personalization: everybody can be absolutely unique

CONFUSION

How to compete in this world?

ADDING

VALUE!


FUNKY VILLAGE (II/II)Anybody knows Wally Masur?

He’d been among the 50 best tennis players.

He never signed a publicity contract.

What about Sampras, Agassi or Nadal?

Being the best is an ADDED VALUE

FIRMS WANT THE BEST ONES!


How the future firm will be and operate?“The future firm must thrive on its ability to be different and add value in new ways.”

The company of tomorrow profits from the changing circumstances and the unpredictability of our times, FUNKY S.A. is:

LEVERAGED

FUNKY S.A. (I/V)

FOCUSED

HETERARCHICAL

INNOVATIVE


FUNKY S.A. (II/V)FUNKY S.A. FOCUSED:The future company won’t try to do everything for everybody; they try to make meaning to concrete persons.

MARKETNICHE

TRIBEORIENTED

PRECISEBUSINESS

FOCUSED


FUNKY S.A. (III/V)FUNKY S.A. LEVERAGED (reinforcement):

INTERNAL (responsibility of each employee) Knowledge exchange Transforming knowledge

INDUSTRIAL Entering new industries based on identified customer’s attitudes. Example: merchandising for fans, in addition to music products.

INTERNATIONAL Global thinking and action

GAS LIQUID SOLID

IDEAS EXPLANATION PROPOSAL


FUNKY S.A. INNOVATIVE: Re-inventing strategy

Fast actions

Innovate with intelligence

Combine homogeneity with heterogeneity

FUNKY S.A. (IV/V)

Richard Branson - Owner Each company should

find the special receipt


FUNKY S.A. (V/V)FUNKY S.A. HETERARCHICAL: Hierarchies of different classes.

Spaguetti structure: apparently is chaotic but each employee correspond to a set of resources.

Features of the Funky structure:o Smaller: more creativityo Flat: problems and process are solved fastero Temporal: based on projects and teamworkso Horizontal: any event implies several areas o Circular: 360⁰ perspective to enhance auto-organizationo Open: partnering, networkingo Measured: to identify achievements


YOU FUNKY (I/II)How to organize a funky company? Forces: dynamism, risk and constant value creation

Leaders First step: getting the right workers Must lead employees to creativity

Workers demand: Orientation Tolerance Interest Attention


YOU FUNKY (II/II)Successful FUNKSTER:

• BEING UNIQUE

• BEING A BRAND

• BEING CONNECTED

Management of Dreams Power consists on providing interesting dreams to move

the persons.


FEELING FUNKYThe Holy Grail of Business Temporal monopoly (meaning market niche) How?

Making the difference:o Low costo Added value

Exclusivity: an idea, marketing strategy, packaging, culture… Based on Emotional Competence (emotions and imagination) to

understand the customer and coworkers. Infinite Innovation Emotional Company


FUNKY EXAMPLEGOOGLE FORMAL FRIDAY

http://bcove.me/wvi5p2hr

http://bcove.me/wvi5p2hr


Importance of teamwork: Innovation starts with each worker Leaders must propitiate creativity Funky structure: flat and circular

Defining core values is a step to motivate and encourage employees TRIBALIZATION

Thinking global is the key, ideas have no limits

CONCLUSIONS


THANKS FOR YOUR ATTENTION


PROPOSAL 1

A book that challenges individuals, businesses and nations to create originals rather than cover versions.


PROPOSAL 2

GUY KAWASAKI

Silicon Valley Venture Capitalist

Apple Fellow

“Guide for anyone starting anything”


PROPOSAL 3“The rol of storytelling in business sucess.”

innovation reading club - funky business nov2011 v1.0

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