1. The document discusses applying principles of innovation to living a more inspiring life. It outlines seven principles for doing so, including keeping one's mission in mind, asking questions, building diverse networks, and creating options to deal with uncertainty.
2. Examples are given of how individuals and organizations have applied these principles, such as Alexander Fleming's discovery of penicillin stemming from his curiosity and preparedness.
3. The author urges readers to diversify their lives and networks in order to generate new ideas, as concentrating in the same areas will only produce the same results. Readers are encouraged to find true meaning and make positive impacts through applying innovation.
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Innovating yourlife prof. Robert C.Wolcott Oslo Innovation Week 2010-10-21
1. 1
I ti Y LifInnovating Your Life
Applying the art & science of innovation to living a
more inspiring, fulfilling and meaningful life
Prof. Dr. Robert C. Wolcott
Page 1All Rights Reserved, Robert C. Wolcott
Prof. Dr. Robert C. Wolcott
Founder & Executive Director
Kellogg Innovation Network
The Business School of the 21st Century:
www.kinglobal.org
Page 2All Rights Reserved, Robert C. Wolcott
2. 2
A quick plug for
my new bookā¦
(ā¦ donāt wait for the
i )movie)
Page 3All Rights Reserved, Robert C. Wolcott
Innovation Radar, v2.0
S l ti
PlatformEcosystem
Offering
(What)
Solution
Channel
Customers
(WHO)
Customer
Needs
(Who)
Supply
Chain
(Where)
Page 4All Rights Reserved, Robert C. Wolcott
Value Capture
Customer
Experience
Management
Process
(How)
Communication
3. 3
Offering
Bridge between Strategy & Innovation
Customer
Solution
PlatformEcosystem
Supply Chain
Management
Offering
Channel
Customer Need
Page 5All Rights Reserved, Robert C. Wolcott
Value Capture
ExperienceManagement
Process
Communication
5
What did we learn at business school?
Observation:
The Fad Cycle
Page 6All Rights Reserved, Robert C. Wolcott
Premise:
Apply the insights to living your life.
(Well, some of them.)
4. 4
Tension in business and life:
the Present & the Future
Acting before the crisis
Fundamental Tension:
Fortification vs. Exploration
Page 7All Rights Reserved, Robert C. Wolcott
Acting before the crisis:
The Success Trap
Page 8All Rights Reserved, Robert C. Wolcott
5. 5
IBMās near death experience
Page 9All Rights Reserved, Robert C. Wolcott
1984 1992
Fortification versus Exploration
Tension Exists Between Defending the Existing and Dominant Positionsā¦
ā¦and Creating New Growth Through New Directions
Fortification
ā¢ The Near Future of the
Current Business
ā¢ Extending the Current Set
of Products and
Technologies
Exploration
ā¢ The Future Business
ā¢ Technological Innovation
and New Services, Beyond
Sustaining
Page 10All Rights Reserved, Robert C. Wolcott
Technologies
ā¢ Designed to Preserve
Market Share and Sustain
Profitability
ā¢ Designed to Create New
Markets and Generate
Surprising Growth and
Profitability
Sources: James March, 1991; Dr. Michael Clem, J&J, 2005
6. 6
So, what should we do?
What the field of innovation suggests for living our lives
1. Always keep the mission in mind.
2. Write down your questionsā¦ really. (Enhance serendipity.)
3. Speak multiple ālanguagesāā¦ live in multiple worlds.
4. Build non-obvious networksā¦ before you need solutions.
5. Create option paths (dealing with uncertainty).
Page 11All Rights Reserved, Robert C. Wolcott
6. Seek the wisdom in mistakes, and the unexpected.
7. Above allā¦ Know Thyself.
1. Always keep the mission in mind.
1977
Challenge: Overwhelming Soviet conventional
forces advantage in Europe
Strategy: Leverage technology to offset the
Soviet advantage
Three platforms:
ā¢Smart weapons
ā¢Smart sensors
ā¢Stealth
Page 12All Rights Reserved, Robert C. Wolcott
Stealth
Direction: Get it done in four years.
William J. Perry
Secretary of Defense, 1994 ā 1997
Undersecretary of Defense for
Research & Engineering, 1977 - 1981
7. 7
A lesson from the armed forces
Mission Focus
Mission ClarityMission Clarity
Page 13All Rights Reserved, Robert C. Wolcott
2. Write down your questions, really.
Alexander Fleming & Penicillin
Chance favors the prepared mind.
ļLouis Pasteur
Mold & Ancient HistoryMold & Ancient History
WWI: Fleming witnesses horrific
wars deaths from bacterial
infections. He seeks solutions.
1920s: Gratia & Dath publish article
regarding Penicilliumās inhibiting
properties with regard to
Page 14All Rights Reserved, Robert C. Wolcott
properties with regard to
Staphylococcus aureus cultures
Late 1920s: āDiscoversā penicillum.
1930s ā 1940s: Chain, Florey &
Heatley achieve mass production for
the War Effort
8. 8
What questions are you asking?What questions are you asking?
What questions are the people whom
you love asking?
Page 15All Rights Reserved, Robert C. Wolcott
Knowing the questions enhances positive
serendipity. Otherwise, itās all just luck.
Serendipity: An unsought, unintended or unexpected discovery or
occurrence, made by accident and sagacity.
3. Live in multiple worlds.
People who live in the intersection of social worldsā¦
are at higher risk of having good ideas.
Ronald Burt, Sociologist
University of Chicago
Page 16All Rights Reserved, Robert C. Wolcott
9. 9
4. Build non-obvious networksā¦
ā¦before you need solutions.
Pleasant Nordic
Countries
Nordic Council
of Ministers
Build your ownā¦
ā¢Objectives
Page 17All Rights Reserved, Robert C. Wolcott
Novosibirsk,
Siberia
A bunch of scientists in
Siberiaā¦ literally!
j
ā¢Knowledge domains
ā¢Diversity
ā¢Absorptive Capacity
If you always look in the same places,
youāll likely find the same answers.
5. Create option paths.
An Axiom: No Uncertainty = No Innovation
We diversify our investments. Why not our lives?
Business Risk
Uncertainty Spend
Rate
Business Risk
Page 18All Rights Reserved, Robert C. Wolcott
Donāt manage the rate of failure,
manage the cost of failure.
Option
Management
Core
Business
Launch
Source: Ian McMillan & Rita Gunter McGrath
10. 10
6. Seek wisdom in mistakesā¦ and the
unexpected.
What is the first thing people typically do when they make a
mistake or things donāt go as expected?mistake, or things don t go as expected?
The worldās most famous failed experiment (1887)
Seeking the āLuminiferous Etherā.
Page 19All Rights Reserved, Robert C. Wolcott
Albert Michelson & Edward Morley
If things donāt go as expected, perhaps there is a problem
with your view of the universe.
Thoughts from the Patent Officeā¦
The experiment didnāt fail. The theory did.
7 Above all Know Thyself7. Above allā¦ Know Thyself
Vision or Realization?
Strategy or Execution?
Page 20All Rights Reserved, Robert C. Wolcott
Tigger or Eyore?
Early Stage or Established Player?
Outcome or Process Motivated?
11. 11
The List, redux
1. Always keep the mission in mind.
2. Write down your questionsā¦ really. (Enhance serendipity.)
3. Speak multiple ālanguagesāā¦ live in multiple worlds.
4. Build non-obvious networksā¦ before you need solutions.
5. Create option paths (dealing with uncertainty).
Page 21All Rights Reserved, Robert C. Wolcott
6. Seek the wisdom in mistakes, and the unexpected.
7. Above allā¦ Know Thyself.
Prepare your MindPrepare your Mind
Of what are you aware?
What are the problems you are trying to solve?
Page 22All Rights Reserved, Robert C. Wolcott
p y y g
(Carry the important ones around with you all the time.)
12. 12
Diversify & PrototypeDiversify & Prototype
Change your Context.
Create options in your life.
Page 23All Rights Reserved, Robert C. Wolcott
FORGET about sunk costs.
Ul i lUltimately,
Find True Meaning.
Page 24All Rights Reserved, Robert C. Wolcott
13. 13
O C Obj iOur Common Objective
To expand prosperity for the global
community while sustaining the planet.
Page 25All Rights Reserved, Robert C. Wolcott
community while sustaining the planet.
(Proving Malthus wrong, again.)
You have a true mission
Malthus & the end of the worldā¦
Page 26All Rights Reserved, Robert C. Wolcott
14. 14
My thanks, and a wish.
Many thanks for your time today.
Particular thanks to the Oslo Innovation Week Team, Movation
and the Nordic Innovation Centre. I truly value the time I spend
with all of you exploring innovation in the Nordic Region.
All blessings for your cumulative quests.
What YOU do will define a large part of our World in
Page 27All Rights Reserved, Robert C. Wolcott
What YOU do will define a large part of our World in
the coming Century.
Use your time well.
Many thanks, again.
Robert C. Wolcott
Kellogg School of Management
Page 28All Rights Reserved, Robert C. Wolcott
ellogg Sc ool o Ma age e t
r-wolcott@kellogg.northwestern.edu
mobile: 847.910.8934