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Ben Gibson
The document discusses the impact of failure to innovate in business. It notes that executives want innovation but companies can become technologically stagnant over time. The business model and approach to innovation must change as the company lifecycle transforms. Truly innovative thinking requires going "out of the box" to understand customers' needs rather than make assumptions. Failure to innovate and adapt the business model can lead companies to become detached from reality and ultimately fail like Kodak. The key is to understand customers' pains rather than just focusing on potential gains from new products or features.
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Ben Gibson
- 1. Impact of FailureTo Innovate Ben Gibson Sr. Owner – Solution Architect SyrRoc Systems
- 2. Thank You! 5/22/2016 Confidential– Ben K. Gibson 2
- 3. • Executives andInvestors want innovation and spend money on it! • Workers have the will and the talent to innovate! • Today, we are as technologically poor as we will ever be! Stipulations! 5/22/2016 Confidential – Ben K. Gibson 3
- 4. • The companylifecycle transforms the business model. • Innovation as the business model transforms. • “Out of the Box” thinking. Let’s Discuss 5/22/2016 Confidential – Ben K. Gibson 4
- 5. Innovation 5/22/2016 Confidential –Ben K. Gibson 5 Problem Solution Pain Gain Needs Features Innovation changes our productivity. It may alter our behavior… But it doesn’t change people!
- 6. 1955 – Philadelphia 5/22/2016Confidential – Ben K. Gibson 6 Paleofuture.gizmodo.com
- 7. Not Always forthe Better
- 8. Personal Story Telling 5/22/2016Confidential – Ben K. Gibson 8 Caves Kodachrome Social Media
- 9. Innovation • Understanding • Technology •Thinking 5/22/2016 Confidential – Ben K. Gibson 9 Problem Solution Pain Gain Needs Features
- 10. Innovation Space The Market CustomerSegmentation Customer Experiences Product Features “Normal” Innovation (Feature Space) “Expanded” Innovation (Application, Experience Space) 10
- 11. The Company Lifecycle 5/22/2016Confidential – Ben K. Gibson 11 Engineering Entrepreneurs Marketing Finance Lawyers Revenue Time
- 12. Business Model (Using TheBusiness Model Canvas) 5/22/2016 Confidential – Ben K. Gibson 12
- 13. Entrepreneurs Engineers 5/22/2016 Confidential– Ben K. Gibson 13
- 14. The SWEET SPOT! 5/22/2016Confidential – Ben K. Gibson 14
- 15. • Brand Success •Business Success Self Deception Business Model Derailment 5/22/2016 Confidential – Ben K. Gibson 15 “Face reality as it is, not as it was or as you wish it to be.” –Jack Welch
- 16. • In theBox Thinking (Self Deception) – Defined by labels, concepts and assumptions. (Biases) – Assumptions Provide Justification for action. • Out of the Box Thinking – Defined by first hand knowledge and understanding. – Understanding Drives actions. Self Deception 5/22/2016 Confidential – Ben K. Gibson 16
- 17. Will Customers Buy? 5/22/2016Confidential – Ben K. Gibson 17 (+) (-) Customer Gain Customer Value (0) (+) Kodak Film 1880 - 2001 Kodak Film 2001 - 2015 Kodak EasyShare 2001 - 2008 Premium Pain
- 18. Business Model (Using TheBusiness Model Canvas) 5/22/2016 Confidential – Ben K. Gibson 18
- 19. Which Box areYou In? 5/22/2016 Confidential – Ben K. Gibson 19
- 20. “Leadership and Self Deception” -The Arbinger Institute “Business Model Generation” - Osterwalder & Pigneur Reading 5/22/2016 Confidential – Ben K. Gibson 20
- 21. • Don’t letwhat you want to happen get in the way of what is happening! (GET OUT OF YOUR BOX!) • Talk to People: Don’t ask if they like what you are doing, ask them about their pain! • Sometimes innovation is about understanding what is NOT changing. What Should You Do? 5/22/2016 Confidential – Ben K. Gibson 21
- 22. THANK YOU! (Questions?) 5/22/2016 Confidential– Ben K. Gibson 22