It’s A Great Time For Formulation
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Formulation technology is used across many sectors and adds significant value to industries. Factors like regulations, reduced returns on research and development, demands for speed to market and sustainable products are driving innovation in formulation. The Intelligent Formulation organization helps businesses innovate in formulation through services like networking, technology scouting, open innovation projects, and continuing professional development opportunities. The goal is to accelerate innovation, enable research and knowledge transfer across sectors, and help companies address future challenges and opportunities.
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Formulation: Skills and Training - an update
The document discusses the need for improved formulation skills and training. It notes that while formulation is important and adds value globally, current training is often ad hoc and does not cover industry-relevant topics. The organization aims to address this need through various short, medium, and long-term initiatives. These include formulation courses, webinars, partnering with universities on degrees and accreditation, and potentially creating a Formulation Academy to establish a coherent training framework. The goal is to increase formulation competence across industries.
10 skills to sharpen strategy formulation capability
1. What is Strategy?
What image your mind perceive when you first heard the word “Strategy”?
Most of us associated it with the planning or mind activity.
First Let us replace this perception without giving any definition or labelling to Strategy. – With definition we will impose self-limitation for its understanding.
Skill 1: Strategy = Planning + Execution + Alignment
You will be surprised that Planning is only 33 % part of the whole. 66 % is related with the action.
This will enhance your ability to perceive strategy as a = Planning + Execution + Alignment
2. Who is playing a strategist Role?
Your answer CEO, COO or Top Management?
Now in the emerging Big Data technology and digital economy where organizations are using the social technologies to collaborate and communicate.
Each person in the organization can contribute as a strategist. Not only as a member of execution and alignment team. There inputs can influence the Strategy
Formulation also. Strategist role from a CXO’s moving towards “Minds of Many”. However it is still drive by the top management of the organization.
This also give birth to new concept of Organization Strategic Space - More you are connected more your Organization Strategic Space is.
Skill 2: Strategist Role = Collective Role (Driving + Participants)
3. How Strategies are born in the Real World
In a real world strategies are always realized as a part of emerging strategies inputs. It is never a onetime affair that we will formulate and
Then use it as a map. More than 75 % of insights will come while you are executing the strategy. It needs lot of refinement as you proceed further.
Skill 3: Strategy = It is not a onetime affair – More than 2/3 will emerge while execution.
4. What is the Eco System of the Strategy?
Most of us have a tendency to perceive strategy with respect to our competitor.
Mckinsey 7 s Model is a great model that adds vital perspective for the Strategy Ecosystem.
Skill 4: Strategy ecosystem = Mckinsey 7 S Model = (3 Soft – 4 Hard)
5. What are the 9 Blocks of strategy?
Most of us unable to differentiate thinking patterns and tools required for different phases of strategy
Just to organize our thoughts and action What if – If we divide whole strategy into the 9 Blocks.
Remember Strategy has three phases = Formulation + Execution + Alignment
And three levels = Corporate +Business Unit + Functional
Skill 5: Always remember Strategy is having three levels and three phases. S= Total 9 Blocks
While playing a strategist role. It is great advantage if you can determine in which block and phase you are.
6. What are the Key elements for strategy Formulation?
Most of us have a very limited view about these elements.
Skill 6: Strategy Formulation Key Elements = Customer + Environment + Competitor + Pattern (CECP)
For Strategy Formulation there are 4 Key elements you are required to master them in order to craft
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The document discusses the need for improved formulation skills and training. It notes that while formulation is important and adds value globally, current training is often ad hoc and does not cover industry-relevant topics. The organization aims to address this need through various short, medium, and long-term initiatives. These include formulation courses, webinars, partnering with universities on degrees and accreditation, and potentially creating a Formulation Academy to establish a coherent training framework. The goal is to increase formulation competence across industries.
10 skills to sharpen strategy formulation capability
1. What is Strategy?
What image your mind perceive when you first heard the word “Strategy”?
Most of us associated it with the planning or mind activity.
First Let us replace this perception without giving any definition or labelling to Strategy. – With definition we will impose self-limitation for its understanding.
Skill 1: Strategy = Planning + Execution + Alignment
You will be surprised that Planning is only 33 % part of the whole. 66 % is related with the action.
This will enhance your ability to perceive strategy as a = Planning + Execution + Alignment
2. Who is playing a strategist Role?
Your answer CEO, COO or Top Management?
Now in the emerging Big Data technology and digital economy where organizations are using the social technologies to collaborate and communicate.
Each person in the organization can contribute as a strategist. Not only as a member of execution and alignment team. There inputs can influence the Strategy
Formulation also. Strategist role from a CXO’s moving towards “Minds of Many”. However it is still drive by the top management of the organization.
This also give birth to new concept of Organization Strategic Space - More you are connected more your Organization Strategic Space is.
Skill 2: Strategist Role = Collective Role (Driving + Participants)
3. How Strategies are born in the Real World
In a real world strategies are always realized as a part of emerging strategies inputs. It is never a onetime affair that we will formulate and
Then use it as a map. More than 75 % of insights will come while you are executing the strategy. It needs lot of refinement as you proceed further.
Skill 3: Strategy = It is not a onetime affair – More than 2/3 will emerge while execution.
4. What is the Eco System of the Strategy?
Most of us have a tendency to perceive strategy with respect to our competitor.
Mckinsey 7 s Model is a great model that adds vital perspective for the Strategy Ecosystem.
Skill 4: Strategy ecosystem = Mckinsey 7 S Model = (3 Soft – 4 Hard)
5. What are the 9 Blocks of strategy?
Most of us unable to differentiate thinking patterns and tools required for different phases of strategy
Just to organize our thoughts and action What if – If we divide whole strategy into the 9 Blocks.
Remember Strategy has three phases = Formulation + Execution + Alignment
And three levels = Corporate +Business Unit + Functional
Skill 5: Always remember Strategy is having three levels and three phases. S= Total 9 Blocks
While playing a strategist role. It is great advantage if you can determine in which block and phase you are.
6. What are the Key elements for strategy Formulation?
Most of us have a very limited view about these elements.
Skill 6: Strategy Formulation Key Elements = Customer + Environment + Competitor + Pattern (CECP)
For Strategy Formulation there are 4 Key elements you are required to master them in order to craft
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Tobias Golodnoff of the Danish Broadcasting Corporation presented on breaking the 300 euro barrier for film scanning costs. The corporation needed to digitize 17,500 hours of 16mm film, which was originally estimated to cost 8.5 million euros. Golodnoff developed a digital workflow to reduce costs, focusing first on 4,500 hours of newsreels. Through the new workflow, costs were reduced by 28% on average, coming in under 300 euros per hour. The workflow was then expanded using high-speed digitization to further reduce costs to an average of 68.75 euros per hour, bringing the total cost down to 2.6 million euros to digitize the entire film collection in under 3 years.
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- The number of jobs created at AI startups has grown significantly since 2014, with over 32,000 jobs created across Europe.
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- There were 585 AI funding rounds in Europe in 2017 totaling over $2.3 billion invested, smashing the previous record.
- The UK received the most funding rounds and dollars, while France and Germany also saw significant investments.
- The number of jobs created by European AI startups has grown dramatically, reaching over 32,000 jobs across the region since 2014.
- Sectors like health, security, and automotive received the most funding, as applications in these industries raise real concerns about privacy and safety.
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It’s A Great Time For Formulation
- 1. 1 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 It’s a Great Time for Formulation Jim Bullock – Intelligent Formulation Limited Paul / FreeDigitalPhotos.net
- 2. 2 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 Formulation Technology Crosses Sectors Salvatore Vuono / FreeDigitalPhotos.net Suat Eman / FreeDigitalPhotos.net Francesco Marino / FreeDigitalPhotos.net Carlos Porto / FreeDigitalPhotos.net
- 3. 3 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 Formulation Adds Value £7.8 Billion $78.9 Billion €39.8 Billion €13.6 Billion €17.5 Billion £28.4 Billion $50.0 Billion $44.3 Billion €31.2 Billion $61.9 Billion $11.0 Billion €13.9 Billion $12.2 Billion $18.8 Billion $32.8 Billion CHF107.6 Billion $40.4 Billion www.freephotosbank.com
- 4. 4 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 Formulation Value and Supply Chain renjith krishnan / FreeDigitalPhotos.net renjith krishnan / FreeDigitalPhotos.net Photo: Horia Varlan
- 5. 5 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 What is Driving Innovation in Formulation? Regulation – reducing ingredient choice Reduced returns for ingredient R&D Speed to market Sustainable ingredients and products Improved characterisation Novel technologies – including nano Information, knowledge, networking Skills Pixomar / FreeDigitalPhotos.net
- 6. 6 www.intelligentformulation.org info@intelligentformulation.org Tel: 01484 346 540 Where can Intelligent Formulation help? Network Membership Foresighting and Roadmap Influencing and Driving Public Funding Technology Watch and Scouting Signposting Open Innovation Collaborative Projects 30 Day Challenges Continuing Professional Development Formulation Innovation Network: Helping Businesses To Innovate Better in Formulation Providing business benefit: Companies guide our direction Accelerate innovation in formulation Help research / KT across sectors Address future challenges + opportunities Simplify/enable access to funding Broker collaborative partnerships for companies Provide networking and learning opportunities This Business Collaboration Network is funded by Yorkshire Forward as part of the Solutions for Business portfolio. jscreationzs / FreeDigitalPhotos.net