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INNOVATINGIN THESOCIALECONOMYHow social toolsare transformingbusiness & education          Prof. Nick Wreden, MA, MS
Because its purpose is tocreate a customer, anybusiness has two – andonly these two – basicfunctions: marketing &innovatio...
• Innovation is vital for Malaysia to compete  globally & achieve Vision 2020 goals• Malaysia is lagging behind  • Analysi...
96%!
TO           2020…&D           BEYOND!AY    HOW?    019-243-5856
019-243-5856
•   What is the Social Economy?•   Innovation models & tools•   How to innovate•   Education in the Social Economy   019-2...
CONSUMER CHANGES019-243-5856
BRANDING CHANGES                                               Something  Something you          Something you         you...
TECHNOLOGY CHANGES                     BIG DATA KNOWLEDGE-SHARING              COLLABORATION     METRICS                  ...
SOCIALCHANGES          019-243-5856
STATS & FACTS• 845 million active users                                                    POPULATION          57% female...
019-243-5856
SOCIALMEDIA FORBUSINESSSEMINARAVAILABLE!!Burson-Marsteller AsiaPacific, 8/2011                  019-243-5856
BUSINESS CHANGES  MASS    CUSTOMER     SOCIALECONOMY   ECONOMY     ECONOMY                     SOCIETY
WHAT IS                                 $THE SOCIALECONOMY?“Incorporating consumer, business & technologicalchanges, the S...
INNOVATIONMODELS &TOOLS             019-243-5856
INNOVATION MODELS BUSINESS          PRODUCT           CUSTOMER                                     SERVICE  PROFIT        ...
PROFIT       NETWORK        SUPPLY CHAIN       PROCESSAPPS         APPLE            WAL-              ZARA(Freemium)   STO...
CUSTOMER           019-243-5856
HOW TOSEEAROUNDCORNERS(HOW TOINNOVATE)
HOW TO INNOVATE                  019-243-5856
BUILDING 20 -MIT
BELL LABSHolmdel, NJ
PIXAR HQDesigned by Steve Jobs “forrandom encounters”
“Steve put the mailboxes, the meetings rooms, thecafeteria, &, most insidiously and brilliantly, the bathrooms inthe cente...
DON’T GET STUCKIN THE KNOWN
“It’s not whatwe don’t knowthat hurts, it’swhat we knowthat ain’t so.”        -- Will Rogers          US humorist
“Decades of research have  If it’s not important   consistently shown that  to your customers,      brainstorming groups t...
019-243-5856
019-243-5856
Young executive: “I suppose after that set of mistakesyou will want to fire me.”Tom Watson, Sr.: “Not at all, young man, w...
• Reward “heroic  failures”• Include innovation  in performance  reviews• Give people time  (& even budget) to  think & ex...
EDUCATION            019-243-5856
019-243-5856
STUDENTS TODAY•   Media-savvy•   Easily distracted•   Bored with TV•   Mobile = life•   Visual > print•   Impatient•   Loo...
MASS ECONOMY           SOCIAL ECONOMY               Teacher-driven        Self-directed processLearning               tran...
• Increases role of  social networks  in learning• Facilitates peer-  to-peer learning• Facilitates rise of  amateur exper...
019-243-5856
“If you want to teach people anew way of thinking, dontbother trying to teach them.Instead, give them a tool, theuse of wh...
019-243-5856
019-243-5856
019-243-5856
019-243-5856
FLIPPED CLASSROOMTRADITIONAL      FLIPPED                           019-243-5856
“FLIPPED” ADVANTAGES• Students take responsibility for own learning• Students can go thru curriculum at their own  pace & ...
• Khan Academy: Mission: Provide  a free “world-class education to  anyone anywhere.”• Course Hero: Videos & articles,  qu...
RULES FORINNOVATIONDOMINATION
KNOWWHY ISBETTERTHANKNOWWHATKnowledge ≠ Power
BE FIERCE
NEW.
SHAMELESSSELF-PROMOTION
BUSINESS TODAY     Social              Marketing     Media
BUSINESS TOMORROW                  Leadership            R&D                               Internal                       ...
SOCIAL BUSINESS RISES           IBM: Strategic initiative           MIT & Deloitte: SB           “Innovation Hub”         ...
WEB: socialbusinessasia.comTWITTER: @socialbizasia
THANK YOU!Email: nickwreden@gmail.comPresentation copy: mayamin@ic.utm.myPERSONAL USE ONLY! PLEASE DO NOT POST ONSOCIAL NE...
EVALUATION1. If I had given thistalk, I would have …….2. If I had given thistalk, I would NOT have……3. (OPTIONAL) To beinn...
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
Innovation in the Social Economy
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Innovation in the Social Economy

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This was a 90 minute talk on the principles of innovation in the Social Economy, best symbolized by the 1.2 billion people connected worldwide. It looks at how to see around corners, looks at innovation hotspots like the renowned Building 20 at MIT and talks about ways to encourage innovation. It also briefly covered current innovative trends in education, including the "flipped classroom." There's also a plug for the Institute of Social Business Innovation, which is researching best practices for businesses in the Social Economy. Let me know your feedback at wredensignup(a)gmail.com

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  • If we owned the exclusive rights to the term “innovation,” we’d be billionaires. Every company, big and small, seems desperate to unlock the secrets to innovating, particularly at an affordable cost.
  • 96% of all new products fail, if you define failure as returning cost of failure. If you want to teach people a new way of thinking, “Buckminister Fuller
  • RESET KNOWLEDGE AND THINKING
  • Session 2: Facebook: The 800-pound gorilla of social mediaWeb site vs. Facebook: Pros & consThe basics: Getting startedPages vs. groups vs. branded pagesTimeline, tags & privacyTabs & applicationsBuilding & sustaining community Converting “likes” into actionCase studyHow to deal with, “my employees are spending more time on Facebook than they are working.”
  • Profit = skype
  • TYPES OF COLLABORATIONDirected Complementary (eg, architect & interior designer)Serendipitious (“random encounters”)
  • DESSIGNED IN AFTERNOONRATS!!RadarFirst air-to-air missileBottom penetrating sonarLaser stablilization systemChomskyan linguisticsBose
  • TOY STORYCARSFINDING NEMOTHE INCREDIBLESTATATOUILLEUP
  • Tom Watson Sr: You can be discouraged byfailure or you can learn from it. So go ahead and make mistakes. Make all you can. Because, remember that's where you'll find success. On the far side.
  • Informative tutorials, like how to dissect a frog. Plus, access to world’s best thinkers.
  • Transcript of "Innovation in the Social Economy"

    1. 1. INNOVATINGIN THESOCIALECONOMYHow social toolsare transformingbusiness & education Prof. Nick Wreden, MA, MS
    2. 2. Because its purpose is tocreate a customer, anybusiness has two – andonly these two – basicfunctions: marketing &innovation. The Practice of Management Peter Drucker
    3. 3. • Innovation is vital for Malaysia to compete globally & achieve Vision 2020 goals• Malaysia is lagging behind • Analysis paralysis • “Too many cooks in the kitchen” • Lack of measurement, follow-through & accountability 019-243-5856
    4. 4. 96%!
    5. 5. TO 2020…&D BEYOND!AY HOW? 019-243-5856
    6. 6. 019-243-5856
    7. 7. • What is the Social Economy?• Innovation models & tools• How to innovate• Education in the Social Economy 019-243-5856
    8. 8. CONSUMER CHANGES019-243-5856
    9. 9. BRANDING CHANGES Something Something you Something you you want buy trust Something you prefer Something you Something you019-243-5856 love experience
    10. 10. TECHNOLOGY CHANGES BIG DATA KNOWLEDGE-SHARING COLLABORATION METRICS ENGAGEMENTCOMMUNITY APPSMANAGEMEN T PERSON- ALIZATION REAL-TIME ACCESS GAMIFICATION MOBILE S-COMMERCE GEOLOCATION PAYMENTS
    11. 11. SOCIALCHANGES 019-243-5856
    12. 12. STATS & FACTS• 845 million active users POPULATION  57% female; 43% male REGION %AGE  80% outside US/Canada N. 50.3• Avg. user visits 40x/month America Australia 37.7• 1 out of every 5 page views Europe 27.5• 20-23 minutes spent per visit L. America 25.5• 1 in 7 minutes spent online are on Middle 8.4 Facebook East• 425 million mobile users Africa 3.6• 2.7 billion “likes” daily• Avrge: 130 friends; likes 80 pages 019-243-5856February 2012
    13. 13. 019-243-5856
    14. 14. SOCIALMEDIA FORBUSINESSSEMINARAVAILABLE!!Burson-Marsteller AsiaPacific, 8/2011 019-243-5856
    15. 15. BUSINESS CHANGES MASS CUSTOMER SOCIALECONOMY ECONOMY ECONOMY SOCIETY
    16. 16. WHAT IS $THE SOCIALECONOMY?“Incorporating consumer, business & technologicalchanges, the Social Economy represents globally inter-connected individuals & businesses leveraging socialcommunications & networking tools to achieve mutuallybeneficial goals in a real-time environment.” 019-243-5856
    17. 17. INNOVATIONMODELS &TOOLS 019-243-5856
    18. 18. INNOVATION MODELS BUSINESS PRODUCT CUSTOMER SERVICE PROFIT PERFORMANCE CHANNE NETWORK L PERSONALIZATION BRAND SUPPLY CHAIN CUSTOMER PROCESS ENGAGEMENTEFFICIENCY/$ DIFFERENTIATION EXPERIENCE 019-243-5856
    19. 19. PROFIT NETWORK SUPPLY CHAIN PROCESSAPPS APPLE WAL- ZARA(Freemium) STORE MART/TOY OTAPERFORMANCE PERSONALIZATIONFISKARS TESCO/AMAZON CUSTOMERSERVICE CHANNE BRAND ENGAGEMENT L LV COCA-COLAZAPPOS GROUPON 019-243-5856
    20. 20. CUSTOMER 019-243-5856
    21. 21. HOW TOSEEAROUNDCORNERS(HOW TOINNOVATE)
    22. 22. HOW TO INNOVATE 019-243-5856
    23. 23. BUILDING 20 -MIT
    24. 24. BELL LABSHolmdel, NJ
    25. 25. PIXAR HQDesigned by Steve Jobs “forrandom encounters”
    26. 26. “Steve put the mailboxes, the meetings rooms, thecafeteria, &, most insidiously and brilliantly, the bathrooms inthe center—which initially drove us crazy—so that you runinto everybody during the course of a day. [Jobs] realized thatwhen people run into each other, when they make eyecontact, things happen. So he made it impossible for you notto run into the rest of the company.” - Brad Bird Pixar designer, Academy Awarding winning director of The Incredibles & Ratatouille“There’s a temptation in our networked age tothink that ideas can be developed by email &iChat. That’s crazy. Creativity comes fromspontaneous meetings, from random discussions.You run into someone, you ask what they’redoing, you say ‘Wow,” & soon you’re cooking upall sorts of ideas.” - Steve Jobs
    27. 27. DON’T GET STUCKIN THE KNOWN
    28. 28. “It’s not whatwe don’t knowthat hurts, it’swhat we knowthat ain’t so.” -- Will Rogers US humorist
    29. 29. “Decades of research have If it’s not important consistently shown that to your customers, brainstorming groups think of far fewer ideas than the it’s not important same number of people to you! who work alone & later pool their ideas.” --Imagine: How019-243-5856 Creativity Works
    30. 30. 019-243-5856
    31. 31. 019-243-5856
    32. 32. Young executive: “I suppose after that set of mistakesyou will want to fire me.”Tom Watson, Sr.: “Not at all, young man, we have justspent a couple of million dollars educating you.”“Failure, and how companies deal with failure, is avery big part of innovation. Failures caused bysloppiness or laziness are bad. But if employees trysomething that was worth trying & fail, & if they areopen about it, & if they learn from that failure, that isa good thing.” - Judy Estrin Author, “Closing the Innovation Gap” & founder of 7 tech firms"The most successful people tend to be those withthe most failures.” - Dr. Dean Keith Simonton, Author of 500+ studies & 12 books on creativity & innovation 019-243-5856
    33. 33. • Reward “heroic failures”• Include innovation in performance reviews• Give people time (& even budget) to think & experiment• Make environment conducive to innovation 019-243-5856
    34. 34. EDUCATION 019-243-5856
    35. 35. 019-243-5856
    36. 36. STUDENTS TODAY• Media-savvy• Easily distracted• Bored with TV• Mobile = life• Visual > print• Impatient• Look to peers, not elders 019-243-5856
    37. 37. MASS ECONOMY SOCIAL ECONOMY Teacher-driven Self-directed processLearning transaction Stable structures Shifting.Knowledge that can be treated interdependent & independently interrelated disciplinesIntelligence Individual Group Passive recipients Active developers ofStudents of knowledge knowledge Select, deliver & Guide insight &Teachers test information knowledge developmentSchools Manage education Incubate learners 019-243-5856
    38. 38. • Increases role of social networks in learning• Facilitates peer- to-peer learning• Facilitates rise of amateur experts• Enables access to IQ of all types, anywhere• Elevates importance of DIY learning 019-243-5856
    39. 39. 019-243-5856
    40. 40. “If you want to teach people anew way of thinking, dontbother trying to teach them.Instead, give them a tool, theuse of which will lead to newways of thinking.- R. Buckminster Fuller
    41. 41. 019-243-5856
    42. 42. 019-243-5856
    43. 43. 019-243-5856
    44. 44. 019-243-5856
    45. 45. FLIPPED CLASSROOMTRADITIONAL FLIPPED 019-243-5856
    46. 46. “FLIPPED” ADVANTAGES• Students take responsibility for own learning• Students can go thru curriculum at their own pace & review as needed• Turns classroom from “stand-and-deliver” to a learning community • From passive listening to engagement• Students work with supervision in classroom, not alone by themselves at home• Parents can see & get involved in learning• Analytics 019-243-5856
    47. 47. • Khan Academy: Mission: Provide a free “world-class education to anyone anywhere.”• Course Hero: Videos & articles, quizzes, tests, final exam• Udemy: Allows anyone to build an online course. Goal is to enable anyone to teach & learn online• Minerva (starting 2014): Focused on skills, not knowledge. Skills include: critical thinking, use of data, understanding complex systems & leading through effective communication. Will use a flipped classroom• MIT: Seeks to make all course materials used in classes freely available on Web.• Stanford School of Engineering: Offering some of its most popular engineering classes free on Web.
    48. 48. RULES FORINNOVATIONDOMINATION
    49. 49. KNOWWHY ISBETTERTHANKNOWWHATKnowledge ≠ Power
    50. 50. BE FIERCE
    51. 51. NEW.
    52. 52. SHAMELESSSELF-PROMOTION
    53. 53. BUSINESS TODAY Social Marketing Media
    54. 54. BUSINESS TOMORROW Leadership R&D Internal collaborationStrategicplanning Social Business Marketing Innovation Production HR Supply chain Sales Customer service
    55. 55. SOCIAL BUSINESS RISES IBM: Strategic initiative MIT & Deloitte: SB “Innovation Hub” McKinsey & Co.: “Big Idea” Forrester: 61% annual growth rate to $6.4 billion market by 2016 California Institute of Social Business @ Calif. State University Fast Company: “Move Over Social Media; Here Comes Social Business”
    56. 56. WEB: socialbusinessasia.comTWITTER: @socialbizasia
    57. 57. THANK YOU!Email: nickwreden@gmail.comPresentation copy: mayamin@ic.utm.myPERSONAL USE ONLY! PLEASE DO NOT POST ONSOCIAL NETWORKS OR SLIDE-SHARING SITES.
    58. 58. EVALUATION1. If I had given thistalk, I would have …….2. If I had given thistalk, I would NOT have……3. (OPTIONAL) To beinnovative, Malaysiamust….
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