Please enable JavaScript.
Coggle requires JavaScript to display documents.
Rethinking value in a changing landscape, Captura de pantalla (353),…
Rethinking value in a
changing landscape
Quotes
“True innovation has to be recognized by people as such.” -Stefano Marzano Chief Design Officer at Philip.
“How our approach to value creation and innovation can be reconsidered to effectively respond to a rapidly changing world.” - Gottfried Dutiné
The experience economy:
Emerged in the early 1980s to fill the void resulting from the loss of identity. Rise of lifestyle brands.
This economy fuelled by lifestyle brands, relied on media and brand management.
Today, the average person living in developed economies is subjected to more than 3000 promotional messages per day, leading to a complete cognitive overload.
Innovations need to be in sync with developments in what people value and aspire to achieve breakthrough growth.
Innovating how products and services help people to achieve their future goals and aspirations, in other words innovating meaning, is based on a deep understanding how value is changing for people and on how socio cultural paradigms are developing
Experience paradigm — business and brand implications
Key enablers required to perform in the experience economy:
1.Focus on marketing excellence.
2.Develop end-user empathy.
3.Beyond needs to inspiration.
4.Brand experience management.
Age of modernity/Industrial economy:
Not working to fulfill their destiny in their communities, but to earn monetary compensation for their labor.
The consumer economy started in the 1920s.Much of the environmental decline, loss of biodiversity and even climate change can be attributed to the last two hundred years of industrialization, urbanization and consumerism.
Urban lifestyle was accompanied with a loss of certainty and identity
Paradigms
Companies which can transform their business models, processes, talent base, capabilities and organizational culture to leverage emerging paradigms will create new landscapes for future growth and profitability.
It challenges companies to pursue strategic conversations and actions that will allow them to transform
Philips Design
One of the longest-established design organizations of its kind in the world
Embraces disciplines as diverse as psychology,
cultural sociology, anthropology and trend research
Create solutions that satisfy people’s needs, empower them and make them happier,
all of this without destroying the world in which we live.
Historical legacy of value creation:
Value creation was a social contribution for the benefit of all members of a tribe. Born into the role and identity that they would fulfill in the community.
The knowledge economy:
Access to the internet ramped up exponentially from around 250 million users in 1999 to 1.8 billion users today.
Ordinary people could create content in the form of blogs, photos and video, and create value that could compete with traditional business
The most successful knowledge economy businesses are the ones which were able to provide platforms that motivated mass participation.
Transformation paradigm — business and brand implications
There is an increasing awareness and interest amongst business, entrepreneurs and ordinary people to act on shared global issues such as pollution, malnutrition, environmental decline, climate change and aging society.
A number of companies (e.g. Danone) have started to experiment with new sustainable business models to effectively address specific socio-economic or socio-environmental issues.
Clear principles that can guide companies who wish to explore future growth opportunities:
1.Systems thinking – think global and act local.
2.Building trust, partnerships and value sharing networks.
3.Organizational enablers.
4.Value network branding.
Companies that are able to master and leverage new paradigms of economic value creation have more options to sustain future growth and profitability.
Industrial paradigm — business implications
Companies need to achieve competitive excellence in at least one business dimension in order to stay competitive.
1.Operational excellence.
2.Customer intimacy.
3.Product leadership.
Knowledge paradigm — business and brand implications
People are increasingly using social media and on-line business platforms to brand themselves. Some of the challenges can be in:
1.Branding
2.Segmentation
3.Innovation and new value creation.
4.Engagement.
5.Business models.
6.Organizational requirements.
The transformation economy:
Leading people to question the way in which we produce and consume and how we distribute wealth.
A substantial proportion of Generation Y are more interested in meaningful work than in the pursuit of wealth or material status.
The concept of quality of life is increasingly related to better living conditions, work-life balance, and personal fulfillment.
Two key economic paradigms for future growth are the knowledge paradigm and the transformation paradigm.
