Innovation Reading Club - Funky business nov2011 v1.0

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Presentation of Funky Business in the Innovation Reading Club in CITEXVI. Done by Angela Vazquez

Presentation of Funky Business in the Innovation Reading Club in CITEXVI. Done by Angela Vazquez

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  • 1. Angela Vazquez QuintianREADING CLUB - CITEXVI 8 NOVEMBER 2011
  • 2. THE BOOK“Manifesto of what our time requires from business firms and their leaders“ Key words:  Global Village  Talent  Competitive advantage  Tribalization CITEXVI - 8 NOVEMBER 2011
  • 3. THE AUTHORSDr. Kjell A. Nordström Dr. Jonas Ridderstrale• Consultant, writer and public speaker. • Business speaker, writer and thinker.• Focused on corporate strategy, • Specialized in international business, multinational corporations and global innovation, and product globalization. development efforts in multinationals• Responsible for the International • Visiting professor at Ashridge Business Business course at Stockholm School School (UK) and IE Business School of Economics. (Spain).The 2005 Thinkers 50 ranked Nordström and Ridderstråle at number nine internationally and put them on number one of Europe business gurus. CITEXVI - 8 NOVEMBER 2011
  • 4. OUTLINE FUNKY BUSINESS F  FUNKY TIMES  FUNKY S.A.  FORCES OF FUNK  YOU FUNKY  THE FUNKY VILLAGE  FEELING FUNKY CONCLUSION DISCUSSION PROPOSALS FOR NEXT R.C. CITEXVI - 8 NOVEMBER 2011
  • 5. FUNKY TIMES (I/II)In the past, a company had a great idea and exploited it for years beforecompetitors. Then, the original idea was repeated in another country formore years.PRESENT: making the difference gets harder Talent Highly qualified employees Globalization No borders Time Living in real time CITEXVI - 8 NOVEMBER 2011
  • 6. 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 CITEXVI - 8 NOVEMBER 2011
  • 7. FORCES OF FUNK (I/II)Socio-economic landscape is changing rapidly so it’s requiredto understand the main forces behind: INSTITUTIONSTECHNOLOGY DRIVE VALUES CHANGE CITEXVI - 8 NOVEMBER 2011
  • 8. FORCES OF FUNK (II/II)TECHNOLOGY IT get better and faster High connectivity Total Transparency POWERINSTITUTIONS 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. CITEXVI - 8 NOVEMBER 2011
  • 9. 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? CITEXVI - 8 NOVEMBER 2011
  • 10. 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! CITEXVI - 8 NOVEMBER 2011
  • 11. FUNKY S.A. (I/V) How the future firm will be and operate?“The future firm must thrive on its ability to be different and add value innew ways.”The company of tomorrow profits from the changing circumstances and theunpredictability of our times, FUNKY S.A. is: INNOVATIVE FOCUSED LEVERAGED HETERARCHICAL CITEXVI - 8 NOVEMBER 2011
  • 12. FUNKY S.A. (II/V)FUNKY S.A. FOCUSED:The future company won’t try to do everything for everybody; they try tomake meaning to concrete persons. MARKET NICHE FOCUSED PRECISE TRIBE BUSINESS ORIENTED CITEXVI - 8 NOVEMBER 2011
  • 13. FUNKY S.A. (III/V)FUNKY S.A. LEVERAGED (reinforcement):INTERNAL (responsibility of each employee) Knowledge exchange GAS LIQUID SOLID Transforming knowledge IDEAS EXPLANATION PROPOSALINDUSTRIAL Entering new industries based on identified customer’s attitudes. Example: merchandising for fans, in addition to music products.INTERNATIONAL Global thinking and action CITEXVI - 8 NOVEMBER 2011
  • 14. FUNKY S.A. (IV/V)FUNKY S.A. INNOVATIVE: Re-inventing strategy Fast actions Innovate with intelligence Combine homogeneity with heterogeneity Each company should find the special receipt Richard Branson - Owner CITEXVI - 8 NOVEMBER 2011
  • 15. 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 creativity o Flat: problems and process are solved faster o Temporal: based on projects and teamworks o Horizontal: any event implies several areas o Circular: 360⁰ perspective to enhance auto-organization o Open: partnering, networking o Measured: to identify achievements CITEXVI - 8 NOVEMBER 2011
  • 16. 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 CITEXVI - 8 NOVEMBER 2011
  • 17. YOU FUNKY (II/II)Successful FUNKSTER: • BEING UNIQUE • BEING A BRAND • BEING CONNECTEDManagement of Dreams  Power consists on providing interesting dreams to move the persons. CITEXVI - 8 NOVEMBER 2011
  • 18. FEELING FUNKYThe Holy Grail of Business Temporal monopoly (meaning market niche) How?  Making the difference: o Low cost o 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 CITEXVI - 8 NOVEMBER 2011
  • 19. FUNKY EXAMPLE GOOGLE FORMAL FRIDAY http://bcove.me/wvi5p2hr CITEXVI - 8 NOVEMBER 2011
  • 20. CONCLUSIONS 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 CITEXVI - 8 NOVEMBER 2011
  • 21. THANKS FOR YOUR ATTENTION CITEXVI - 8 NOVEMBER 2011
  • 22. PROPOSAL 1A book that challenges individuals, businesses and nations to create originals rather than cover versions. CITEXVI - 8 NOVEMBER 2011
  • 23. PROPOSAL 2 GUY KAWASAKI  Silicon Valley Venture Capitalist  Apple Fellow “Guide for anyone starting anything” CITEXVI - 8 NOVEMBER 2011
  • 24. PROPOSAL 3“The rol of storytelling in business sucess.” CITEXVI - 8 NOVEMBER 2011