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RETHINK Business by Peter Fisk

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Rethink business ... Peter Fisk helps you to rethink your vision and strategy, innovation and leadership in a fast changing world ... part of his Vision Management Program at IE Business School, also available in customised formats. Email peterfisk@peterfisk.com

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RETHINK Business by Peter Fisk

  1. Peter FiskFounder of GeniusWorks, author of “Gamechangers” Visiting Professor of Strategy, Innovation and Marketing, IE Business SchoolEmail: peterfisk@peterfisk.comTwitter: @geniusworks RETHINK BUSINESS
  2. RESET YOUR DIRECTIONREIMAGINE YOUR FUTUREREENERGISE YOUR BUSINESS
  3. REIMAGINE YOUR FUTURE
  4. Volatile Uncertain Complex Ambiguous +genius
  5. Vibrant Unreal Crazy Astounding
  6. Worldchangingdecade 2010 Pop 6.9Bn GDP $63T G7 2020 Pop 7.7Bn GDP $90T E7
  7. Globalisation Turbulent markets New economies New business models Biotech Internet of things Clean energy Nano tech Healthcare Resource shortages Transparency Travel Climate change Urbanisation Bio diversity Population growth Agelessness Creative class Digital natives Women Mobility Open education Cloud intelligence Entrepreneurship Sustainable living Culture fusion Localness Storytelling Wellbeing Happiness Caring Tribal Authenticity Collaboration Lifetime learning Empowerment Building blocks to the future
  8. Guiyang Circle Guiyang China 106.6°E, 26.6°N 4100km radius Most of the world lives here …
  9. East Small West Big +genius Profit Volume
  10. Imagination Capability +genius Collaborative Independent Disrupting Evolving
  11. Customer Pull Relevance Business Push Average +genius
  12. Every business must change
  13. Speedboats beat fast and focused supertankers
  14. Every minute
  15. The 99 cent business model Winning in a digital world …
  16. The $900 business model Digitally enabled real world
  17. We live in a time of ‘awesomeness’
  18. Think different
  19. EMOTIONALINTUITIVECONNECTEDRATIONALANALYTICALFOCUSED
  20. What’s your “tae Kuk”?
  21. LEFT BRAIN + RIGHT BRAIN
  22. Business narrow view Your narrow view Customer broader view You Customer Seeing things differently Thinking different things © Peter Fisk 2014 theGeniusWorks.com
  23. The customer’s world
  24. © GeniusWorks 2013 The customer agenda
  25. Gen X Gen Y Gen Z Born 1965-1980 50 million Born 1980-1995 75 million Born 1995-2010 100 million Influenced by fall of Berlin Wall, capitalism, Live Aid Open-minded, practical and pragmatic Self-reliant, reject the rules, what’s in it for me Career professionals, but also seek work-life “balance” Computer adopters, emailers, but like face to face Influenced by 9/11, reality TV, and social media Ethnically diverse, realistic and optimistic Self-inventive, rewrite the rules, make the most of life Seek freedom and flexibility, work “with” not for company Digital natives, big textersand social media users Influenced by economic and climate crisis, Arab spring Global minded, caring and opportunistic Collective, don’t know the rules, “in it” together Seek security and stability, multi-takers, project workers Digitally immersed, driven by mobile and crowd behaviour Changing attitudes © Peter Fisk 2014 theGeniusWorks.com
  26. Business narrow view Your narrow view Customer broader view You Customer Seeing things differently Thinking different things
  27. IT support is boring, isn’t it?
  28. For the customer, its an emergency
  29. Business narrow view Your narrow view Customer broader view You Customer Seeing things differently Thinking different things © Peter Fisk 2014 theGeniusWorks.com
  30. Time to think bigger
  31. Google <X> Moonshotfactory
  32. “Why focus on 10% … why not 10 x better?”
  33. RESET YOUR DIRECTIONREIMAGINE YOUR FUTURE
  34. Don’t just play the game … Change the game
  35. © Peter Fisk 2013 Gamechangers.pro
  36. © Peter Fisk 2014 Gamechangers.pro 16 ways to innovate your business Brand innovation Purpose innovation Strategy innovation Concept innovation Structural innovation Process innovation Resource innovation Financial innovation Market innovation Customer innovation Experience innovation Relational innovation Pricing innovation Channel innovation Service innovation Product innovation
  37. es 1.23 & Me 2.Aravind 3.Epocrates 4.Genentech 5.Intuitive Surgical 6.NarayanaH 7.Organova 8.PatientsLikeMe 9.Scanadu 10.Second Sight 1.Amazon 2.Aussie Farmers 3.Etsy 4.Fab 5.Greenbox 6.Le Pain Q 7.Positive Luxury 8.Trader Joe’s 9.ZaoZao 10. Zilok 1.Apple 2.Beauty’in 3.Godrej 4.Lego 5.Method 6.Natura 7.Nike+ 8.Oculus Rift 9.Pebble 10.Renova 1.Alibaba 2.ARM 3.BhartiAirtel 4.GiffGaff 5.Google X 6.Rackspace 7.Raspberry Pi 8.Samsung 9.TencentQQ 10.Xiaomi 1.Aeromobil 2.Air Asia 3.AirBNB 4.Emirates 5.Kulula 6.Moveo 7.Pipistrel 8.RedBus 9.Virgin Galactic 10.Zipcars 1.3DHubs 2.Corning 3.DP World 4.Dyson 5.Embraer 6.Local Motors 7.Space X 8.Syngenta 9.Tata 10.Tesla 1.Aeroshots 2.Gram-Danone 3.Graze 4.Isis Organic 5.Juan Valdez 6.LA Organic 7.Moa Beer 8.Nespresso 9.Yeni Reki 10.Zespri 1.Ashmei 2.Beats 3.Desigual 4.Gilan 5.Indetix 6.Patagonia 7.Rapha 8.Shang Xai 9.Threadless 10.Tom’s 1.Alior Sync 2.La Caixa 3.Fidor 4.First National 5.ItanUnibanco 6.Moven 7.M-Pesa 8.Square 9.Umpqau 10.Zidisha 1.Al Jazeera 2.Coursera 3.Future 4.Pixar 5.Pledge Music 6.Red Bull 7.Rovio 8.Spotify 9.Ushahida 10.Wordpress futureproduct futurefashion futurefood futurestore futurehealth futuretech futuremakers futurebank futuretravel N/S American brands European brands African/Arab brands Asian/Oceania brands futuremedia 1.Ashoka 2.AzuriTech 3.GraalBio 4.IBM 5.IDEO 6.Kickstarter 7.Li & Fung 8.Live Nation 9.Salesforce 10.Y Combinator 1.FC Barcelona 2.Bitcoin 3.Bhutan 4.The Elders 5.Lovemarks 6.Oregon Project 7.ParkRun 8.WWF 9.Zoe Suggs 10.You futureservice futurebrands The Global Gamechangers.pro © Peter Fisk 2014 peterfisk@peterfisk.com
  38. Los Altos, USA 05:30 23&Me DNA Profile $99 Anne Wojcicki
  39. Ferguson, Texas 07:30 Tesla 500km, zero carbon ElonMusk
  40. Ferguson, Texas 07:30
  41. Ferguson, Texas 07:30
  42. Ferguson, Texas 07:30
  43. Bogota, Colombia 07:30 Juan Valdez cafe Coffee Grower cafes Luis GenaroMunoz
  44. Bogota, Colombia 07:30
  45. Moon Bay, Barbados 08:30 AirBNB Collaborative consumption Brian cheskey
  46. New York, USA 08:30 Moven Making money simple Brett King
  47. Sao Paulo, Brazil 09:30 Beauty’in “Almetics” CristianaArcangeli
  48. Sao Paulo, Brazil 09:30
  49. Accra, Ghana 12:30 AzuriTech Pay as you go power Simon Garth
  50. Cambridge, UK 13:30 Raspberry Pi £20 circuit boards Eden Upton
  51. Paris, France 14:30 Aerolife Vapour food, zero cal Prof David Edwards
  52. Berlin, Germany 14:30 Zipcars Carshareper minute Antje danielson
  53. Beirut, Lebanon 15:30 MayrigRestaurants Armenian Culture AlineKamakian
  54. Mumbai, India 18:30 Redbus Online bus system PhanindraSama
  55. Shanghai, China 20:30 Alibabaecosystem Digital marketplace Jack Ma
  56. Kuala Lumpur, Malaysia 20:30 Air Asia New middle travel Tony Fernandez
  57. Change Why enabling Change the game … collaborative intelligent audacious networked
  58. audacious
  59. intelligent
  60. collaborative
  61. networked
  62. Change Why enabling
  63. Renova
  64. Aeromobil
  65. RESET YOUR DIRECTIONREIMAGINE YOUR FUTUREREENERGISE YOUR BUSINESS
  66. Are you ready to change your world? © Peter Fisk 2014 theGeniusWorks.com
  67. Inspire Focus Envision Innovate Deliver 5 practical approaches to make happen
  68. Create the future in your own vision, not in the shadow of others … guided by an inspiring purpose 1. Envision … Change your future Inspire Focus Envision Innovate Deliver
  69. Future Future-back vision Today © Peter Fisk 2014 theGeniusWorks.com
  70. Why would they recommend us to others? Comparative Inspiring purpose © Peter Fisk 2014 theGeniusWorks.com
  71. Strategy is about making choices … to deliver the best performance for today and tomorrow 2. Focus … Change your strategy Inspire Focus Envision Innovate Deliver
  72. Customers Countries Capabilities Categories market mapping © Peter Fisk 2014 theGeniusWorks.com
  73. Coca Cola
  74. Bulk water Retail water Juice drinks Ready-to-drink tea Sports drinks Juices and nectars Carbonated Soft-drinks Ready-to-drink coffee The Coca-Cola Company Other brands Bubble size reflects estimated global beverage profits Industry unit margins ($) 5 year average growth rate
  75. Juices and nectars Mineral water RTD coffee Purified water Fruit drinks RTD tea Sports drinks Energy drinks Bulk water Powders 1. Build capability and accelerate 2. Grow margins 3. Participate selectively 4. Approach differently 5. De-emphasise Market attractiveness Strategic fit
  76. Secure competitive advantage in chosen markets Create an approach to do this profitably and in a sustainable way. Focus resources on the most attractive markets. Business strategy is about making choices Where should I focus? What makes me different? How will we win? strategic choices © Peter Fisk 2014 theGeniusWorks.com
  77. Innovate the whole business, not products … from business model to customer experience 3. Innovate … Change your business Inspire Focus Envision Innovate Deliver
  78. Banks Example: Long Queues Silent Cashiers Bars Finance Complicated Transactions Boring © GeniusWorks 2014. All rights reserved. creative fusions
  79. Banks Example: Long Queues Silent Cashiers Bars Finance Complicated Transactions Boring Take a seat Funky music Great service Openness About lifestyle Made easy Community build Fun © GeniusWorks 2014. All rights reserved. creative fusions
  80. Banks Example: CaffeLatte Funky Concierge Sofas Life Colourful Community Fun Long Queues Silent Cashiers Bars Finance Complicated Transactions Boring Take a seat Funky music Great service Openness About lifestyle Made easy Community build Fun © GeniusWorks 2014. All rights reserved. creative fusions
  81. Business model Finance Networking 2. Networkingenterprise’s structure/ value chain 1. Business model how the enterprise makes money Channel Delivery Brand Customer experience 10. Customer experience how you create an overall experience for customers 9. Brandhow you express your offering’s benefit to customers Core process Process Enabling process 3. Enabling processassembled capabilities 4. Core processproprietary processes that add value 6. Product systemextended system that surrounds an offering Product performance Offering Product system Service 7. Servicehow you service your customers 5. Product performancebasic features, performance and functionality 8. Channelhow you connect your offerings to your customers Business innovation
  82. Volume of innovation effortsLast 10 years Business model Finance Networking Channel Delivery Brand Customer experience Core process Process Enabling process Product performance Offering Product system Service Business innovation
  83. Business model Finance Networking Channel Delivery Brand Customer experience Core process Process Enabling process Product performance Offering Product system Service Cumulative value creationLast 10 years Business innovation
  84. business model
  85. Make and distribute business model egCocaColaMicrosoft Spectrum retail business model egAmazon Marks & Spencer Make and sell direct business model egBMW, HSBC Niche retail business model egToysRUs, Wiggle License to make business model egARM, Ed Hardy Curated retail business model egFab, Positive Luxury Membership club business model egCostco, Quintessentially Crowdfunded ventures business model egKickstarter, Zidisha Opensourced community business model egRedHat, MySQL Subscription payment business model egFT.com, Graze Buyer and seller marketplace business model egEtsy, NYSE Micro payments business model egFlattr GrameenDanone Collaborative consumption business model egBuzzcar, Regus Regular Replacement business model egGillette, Nespresso Branded Consortia business model egCisco, Spar Advertising or Sponsorship business model egGoogle, Metro Newspapers Listed or Promoted business model egMonster Linkedin Network builders business model egHotmail, Twitter Demand then Made business model egZaoZao, Threadless Auction retail business model egeBay, Sotheby Knowledge and time business model egMcKinsey, Harvard Franchised retail business model egMcDonalds, Subway Certification and endorsement business model egISO, Verisign Remainder retail business model EgSaks, VentePrivee Multulevel marketing business model egTupperware, Natura Group buying business model egGroupon, Huddlebuy Reverse auction business model egPriceline Freemarkets Shared rental business model egZilok, Hilton Tradeable currency business model egBitcoin Air Miles Freemium pay within business model egAngry Bird, Coursera Transaction facilitator business model egPaypal, Visa Pay as you go business model egAzuriTech Techshop Dynamic pricing business model egExpedia, Uber Reputation builders business model egTripadvisor, PaywithaTweet Customer data business model egFacebook, 23andMe Non-profit business business model egOxfam Wikipedia Maker models Channel models Crowd models Payment models Exchange models Asset models 36 business models
  86. Aligning the business to engage employees and customers … in achieving the inspiring purpose 4. Deliver … Change your impact Inspire Focus Envision Innovate Deliver
  87. strategic horizons Value creation 12 months 24 months 36 months Horizon 1 Outputs Horizon 2 Outputs Horizon 3 Outputs Horizon 3 Developments Horizon 2 Developments Horizon 1 Developments © Peter Fisk 2014 theGeniusWorks.com
  88. Who? What? Why? How much? What not? The target customer (Who is the target segment) The customer context (What they want to achieve) The distinctive benefits (How you help them do it better) The relative price position (% more or less than alternatives) The customer trade offs (What they could get else where) + + - - Customer value proposition Value to customer = customer-centric propositions © Peter Fisk 2014 theGeniusWorks.com
  89. customer-centric propositions © Peter Fisk 2014 theGeniusWorks.com
  90. +genius
  91. +genius
  92. Leadership amplifies the potential of others … individuals and the business to achieve more 5. Inspire … Change your peopleInspire Focus Envision Innovate Deliver
  93. sustained value creation CompanyLocationSectorTSRMarket Value 1. http://i0.wp.com/www.biznews.com/wp-content/uploads/2014/01/2014-01- 14T093932Z_616010080_GM1EA1E1CXX01_RTRMADP_3_MARKETS-GLOBAL.jpgUSABiopharma166.3%$7.8bn 2. GungHoEntertainmentJapanGaming138.5%$8.3bn 3. Galaxy EntertainmentHong KongCasinos130.9%$37.9bn 4. Jazz PharmaceuticalsIrelandBiopharma130.9%$7.3bn 5. Avis BudgetUSATravel 125.1%$4.3bn 6. Great Wall MotorsChinaAuto109.0%$16.8bn 7. HexpolSwedenChemicals101.3%$2.6bn 8. Sirius XM RadioUSAMedia96.9%$21.4bn 9. Plastic OmniumFranceAuto parts95.6%$4.1bn 10. Brilliance China Hong KongAutomotive94.6%$8.2bn (Selected other companies) TencentChinaMedia58.7%$117.6bn AmazonUSARetail50.7%$182.5bn AppleUSATechnology46.7%$500.7bn VolkswagenGermanyAuto43.7%$130.8bn Sources: S&P, Thomson Reuters, Bloomberg, BCG TSR = 5 year total shareholder return (shares and dividends), 2009-2013 Market values as at 31 December 2013.
  94. © GeniusWorks 2014. All rights reserved. Actual profits of previous years Estimated profits of future years Adjusted profits of future years (discounted for uncertainty) Economic “value” is the sum of the likely future profits (more accurately, we consider the “economic” profit, which takes into the cost of capital) This year Future years Previous years sustained value creation © Peter Fisk 2014 theGeniusWorks.com
  95. NIKE
  96. Catalyst Control Coach Connector Communicator Command Hierarchical leaders worked in a commoditised production economy Collaborative Leaders succeed in an networked ideas economy 2C to 4C leadership © Peter Fisk 2014 theGeniusWorks.com © Peter Fisk 2014 theGeniusWorks.com
  97. Acting with speed and agility Connecting ideas and people Passion to make life better Having an audacious attitude Shaping your own vision Making sense of change Persisting to make it happen © Peter Fisk 2014 Gamechangers.pro
  98. Inspire Focus Envision Innovate Deliver
  99. Create the future in your own vision
  100. PETER FISK is a bestselling author, inspirational keynote speaker and expert consultant in helping leaders to develop innovative strategies for business and brands. He is Professorof Strategy, Innovation and Marketing at IE Business School, one of the world’s top ranked business schools, and leads his own company,GeniusWorks, a boutique consulting firm, helping clients around the world to develop more innovative business and brandstrategies. He features on the Thinkers 50 “Guru Radar” as one of the best new business thinkers. Having trained as anuclear physicist,Petermoved tomanaging brandslike Concorde at British Airways, helping Microsoft to adopt a value-based marketing model, and Virgin to launch into new markets. He has worked in every sector and region of the world. As CEO of the world's largest marketing organisation, the Chartered Institute of Marketing, he became a global authorityon what's best and next in business and markets. Finding his own space, he founded GeniusWorks, with offices in Londonand Istanbul. He now works with the leaders of businesses -as diverse as Aeroflot and Coca Cola, DSM and Mars, Philosophy and Red Bull, Sabre and Santander, Tata and Virgin, Visa and Vodafone -to think bigger and smarter, develop innovative strategies, bolderbrands, and accelerate growth. Peter’s best-selling book "Marketing Genius" explores the left and right-brain challenges of success, and is translated into 35 languages. It wasfollowed by five others –“Business Genius” on leadership andstrategy, “Customer Genius” on customers and experiences, “People Planet Profit” on sustainable innovation -and most recently "Creative Genius" defining what it takes to beLeonardo da Vinci in the 21 Century. His new book"Gamechangers ... Are you ready to change the world?" is published in late 2014, based on extensive research into the 120 companies who are shaking up markets, and making sense ofhow they innovate and win. It explores the challenges of new markets, changing customers, brand building,digital media, new business models, inspiring leadership and positiveimpact. Peter was described by Business Strategy Journal as "one of the best new business thinkers". He is thoughtful and practical, combining high-energy keynotes with high-impact workshops. Each one is uniquely designed for the specific audience, their issues and aspirations. Helping people to find their own space, to be leaders of change -to be bold, brave and brilliant. Find out more Email: peterfisk@peterfisk.com Phone: +44 7834483830 Twitter: @geniusworks Website: www.theGeniusWorks.com Next Book: www.Gamechangers.pro
  101. Gamechanging strategies Collaborative discovery Possibility focused Leadership teams 3 intensive days We develop theright approach for your business, working collaborativelyto achieve your objectives better, faster. We combine a wide range of processes and tools, insightsand ideas, people and partners Innovative solutions Deep insights, big ideas Customer experiences High energy workshops 8-12 day projects Brand blueprinting Portfolio and architecture Essence and propositions Experience delivery 15-75 day projects Engaging your people in a future vision … developing a new business strategy … driving creativity and innovation … developing a new brand … solving a complex problem fast … building your team ACCELERATING GROWTH …strategy, brand and innovation consulting peterfisk@peterfisk.com www.theGeniusWorks.com
  102. DEVELOPING PEOPLE …seeing things differently, thinking different things +genius peterfisk@peterfisk.com www.theGeniusWorks.com
  103. Email: peterfisk@peterfisk.com Website: www.theGeniusWorks.com New book: www.Gamechangers.pro Twitter: @geniusworks

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