Purpose The authors map out a work system that was key to Procter & Gamble transforming its innovation practices from a slow-paced, cautious incrementalism toward a leaner, more entrepreneurial model able to make bigger and riskier long-term bets. Design/methodology/approach Starting in 2016, P&G began “innovating how they innovated”, supported by a strong leadership commitment to working differently. Findings The newly envisioned future included P&G exploring many smaller scale innovations within and across business units, with quick learning, conducted in close collaboration with consumers and driven by their problems and needs. Practical/implications Kathy Fish began this initiative by studying what innovation practices had produced “irresistible superiority” in the past. Originality/value Describes how P&G, a leading, long-established company instituted a systematic program of changing the system through which the work of innovation gets done. This system has eight action levers that collectively shape a supportive and productive work environment. Taking these actions in a coherent, coordinated fashion at Procter & Gamble, changed the operating environment and the company’s innovators adapted their behavior to the new system.
{"title":"Innovating how innovation works at Procter & Gamble","authors":"G. Day, G. Shea","doi":"10.1108/sl-10-2021-0101","DOIUrl":"https://doi.org/10.1108/sl-10-2021-0101","url":null,"abstract":"Purpose\u0000The authors map out a work system that was key to Procter & Gamble transforming its innovation practices from a slow-paced, cautious incrementalism toward a leaner, more entrepreneurial model able to make bigger and riskier long-term bets.\u0000\u0000Design/methodology/approach\u0000Starting in 2016, P&G began “innovating how they innovated”, supported by a strong leadership commitment to working differently.\u0000\u0000Findings\u0000The newly envisioned future included P&G exploring many smaller scale innovations within and across business units, with quick learning, conducted in close collaboration with consumers and driven by their problems and needs.\u0000\u0000Practical/implications\u0000Kathy Fish began this initiative by studying what innovation practices had produced “irresistible superiority” in the past.\u0000\u0000Originality/value\u0000Describes how P&G, a leading, long-established company instituted a systematic program of changing the system through which the work of innovation gets done. This system has eight action levers that collectively shape a supportive and productive work environment. Taking these actions in a coherent, coordinated fashion at Procter & Gamble, changed the operating environment and the company’s innovators adapted their behavior to the new system.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42149577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose What is required to deliver innovation that meets evolving customer needs is a process of learning from the future. Design/methodology/approach The major financial gains in the digital economy usually flow from generating innovations that create entirely new markets by turning non-customers into customers. Findings Amazon has developed a highly productive value-creation approach called the PR/FAQ process. It starts by imagining the customer’s needs in the future and then describing in detail the offering that would meet those needs. Practical/implications To get more consistent success in generating market-creating innovations, explicit attention to non-users is needed. Originality/value Exponential advances in digital technologies, and the interactions between them, are expanding the possibilities for market-creating innovation.
{"title":"Generating market-creating innovation by working backwards from the future","authors":"S. Denning","doi":"10.1108/sl-10-2021-0094","DOIUrl":"https://doi.org/10.1108/sl-10-2021-0094","url":null,"abstract":"Purpose\u0000What is required to deliver innovation that meets evolving customer needs is a process of learning from the future.\u0000\u0000Design/methodology/approach\u0000The major financial gains in the digital economy usually flow from generating innovations that create entirely new markets by turning non-customers into customers.\u0000\u0000Findings\u0000Amazon has developed a highly productive value-creation approach called the PR/FAQ process. It starts by imagining the customer’s needs in the future and then describing in detail the offering that would meet those needs.\u0000\u0000Practical/implications\u0000To get more consistent success in generating market-creating innovations, explicit attention to non-users is needed.\u0000\u0000Originality/value\u0000Exponential advances in digital technologies, and the interactions between them, are expanding the possibilities for market-creating innovation.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41361319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jean-Stéphane Payraudeau, Anthony Marshall, Jacob Dencik, Steve Ballou
Purpose The Virtual Enterprise model expands potential for extreme digitalization, extended value chains and intelligent workflows, along with new partnership and ecosystem approaches. Design/methodology/approach Analysis of a new survey of more than 7000 C-suite executives conducted by the IBM Institute for Business Value (IBV) provides new and striking insights into what operational, organizational and cultural environments are most conducive to effective and enduring digital transformation. Findings The Virtual Enterprise re-imagines how and where work is done, re-evaluating the necessity for physical assets, infrastructure and talent. Practical/implications The single most important characteristic of the Virtual Enterprise is “openness”, which brings value at three levels: inside the enterprise, with partners outside the enterprise and with the wider ecosystem. Originality/value The research found that the high technology adopters who focus on “openness” and “ecosystems” enjoy a 40 percent revenue growth performance premium over their advanced competitors.
{"title":"The Virtual Enterprise: enterprise transformation enabled by strategic digital acceleration","authors":"Jean-Stéphane Payraudeau, Anthony Marshall, Jacob Dencik, Steve Ballou","doi":"10.1108/sl-10-2021-0099","DOIUrl":"https://doi.org/10.1108/sl-10-2021-0099","url":null,"abstract":"Purpose\u0000The Virtual Enterprise model expands potential for extreme digitalization, extended value chains and intelligent workflows, along with new partnership and ecosystem approaches.\u0000\u0000Design/methodology/approach\u0000Analysis of a new survey of more than 7000 C-suite executives conducted by the IBM Institute for Business Value (IBV) provides new and striking insights into what operational, organizational and cultural environments are most conducive to effective and enduring digital transformation.\u0000\u0000Findings\u0000The Virtual Enterprise re-imagines how and where work is done, re-evaluating the necessity for physical assets, infrastructure and talent.\u0000\u0000Practical/implications\u0000The single most important characteristic of the Virtual Enterprise is “openness”, which brings value at three levels: inside the enterprise, with partners outside the enterprise and with the wider ecosystem.\u0000\u0000Originality/value\u0000The research found that the high technology adopters who focus on “openness” and “ecosystems” enjoy a 40 percent revenue growth performance premium over their advanced competitors.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48892073","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The author addresses the looming question in the digital era: Can long-established firms adopt an existential mindset that enables them to survive and prosper? Design/methodology/approach Disruptors take advantage of significant changes in the traditional value drivers in an existing market. The success of long-established companies often inhibits innovation, and most mature organizations struggle to excel. Findings Greater reliance on controlled experiments can mitigate the failures of innovation based primarily on focus group research. Practical/implications Competitors can be transformed into collaborators in many parts of the value chain, and alliances are outperforming the more conventional business development approaches. Originality/value The author’s powerful message: Today’s leaders must adopt a new mindset in which bureaucracy is repudiated and responsiveness and adaptability are rewarded.
{"title":"The existential mindset for corporate survival and growth: innovation and resilience","authors":"R. Allio, R. Allio","doi":"10.1108/sl-08-2021-0080","DOIUrl":"https://doi.org/10.1108/sl-08-2021-0080","url":null,"abstract":"\u0000Purpose\u0000The author addresses the looming question in the digital era: Can long-established firms adopt an existential mindset that enables them to survive and prosper?\u0000\u0000\u0000Design/methodology/approach\u0000Disruptors take advantage of significant changes in the traditional value drivers in an existing market. The success of long-established companies often inhibits innovation, and most mature organizations struggle to excel.\u0000\u0000\u0000Findings\u0000Greater reliance on controlled experiments can mitigate the failures of innovation based primarily on focus group research.\u0000\u0000\u0000Practical/implications\u0000Competitors can be transformed into collaborators in many parts of the value chain, and alliances are outperforming the more conventional business development approaches.\u0000\u0000\u0000Originality/value\u0000The author’s powerful message: Today’s leaders must adopt a new mindset in which bureaucracy is repudiated and responsiveness and adaptability are rewarded.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48629681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The Fail-Safe Startup: Your Roadmap for Entrepreneurial Success, the new book by entrepreneurship researcher Tom Eisenmann, sets out to help improve the odds by looking more closely at the most prevalent causes of startup failure and how to avoid them. Design/methodology/approach Eisenmann research led him to identify six distinct patterns that explain a large proportion of startup failures, three relating to early stage failures and three to late stage. Findings Strong demand from early adopters may lead a founder to scale up prematurely. Practical/implications Entrepreneurs must research differences in the needs of likely early adopters and mainstream customers during the upfront customer discovery phase. Originality/value Entrepreneurs must research differences in the needs of likely early adopters and mainstream customers during the upfront customer discovery phase. 10; 10;The line between visionary entrepreneur and cult leader can become blurry, and a founder?s ?reality distortion field--useful for motivating others to help pursue the founder?s dream?can become a liability.
{"title":"Startups – Tom Eisenmann analyzes the most prevalent failure patterns and how to avoid them","authors":"B. Leavy","doi":"10.1108/sl-09-2021-0091","DOIUrl":"https://doi.org/10.1108/sl-09-2021-0091","url":null,"abstract":"\u0000Purpose\u0000The Fail-Safe Startup: Your Roadmap for Entrepreneurial Success, the new book by entrepreneurship researcher Tom Eisenmann, sets out to help improve the odds by looking more closely at the most prevalent causes of startup failure and how to avoid them.\u0000\u0000\u0000Design/methodology/approach\u0000Eisenmann research led him to identify six distinct patterns that explain a large proportion of startup failures, three relating to early stage failures and three to late stage.\u0000\u0000\u0000Findings\u0000Strong demand from early adopters may lead a founder to scale up prematurely.\u0000\u0000\u0000Practical/implications\u0000Entrepreneurs must research differences in the needs of likely early adopters and mainstream customers during the upfront customer discovery phase.\u0000\u0000\u0000Originality/value\u0000Entrepreneurs must research differences in the needs of likely early adopters and mainstream customers during the upfront customer discovery phase. 10; 10;The line between visionary entrepreneur and cult leader can become blurry, and a founder?s ?reality distortion field--useful for motivating others to help pursue the founder?s dream?can become a liability.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45169720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose To implement a customer-centric vision in the digital era requires leadership that champions principles, processes and practices that promote customer value and corporate agility. Design/methodology/approach In the digital age organization the CEO’s job description, and those of all the leadership team, will require radical redesign. Findings A successful digital-age CEO is an entrepreneur with a passion for creating new value for customers and a preoccupation with strategic agility and discerning new business opportunities. Practical/implications Perhaps the most critical feature of digital-era CEOs’ jobs is their focus on the continuous creation of new businesses. Originality/value A successful digital-age CEO is an entrepreneur with a passion for creating new value for customers and a preoccupation with strategic agility and discerning new business opportunities.
{"title":"The digital age is transforming job descriptions, especially for CEOs","authors":"S. Denning","doi":"10.1108/sl-09-2021-0090","DOIUrl":"https://doi.org/10.1108/sl-09-2021-0090","url":null,"abstract":"\u0000Purpose\u0000To implement a customer-centric vision in the digital era requires leadership that champions principles, processes and practices that promote customer value and corporate agility.\u0000\u0000\u0000Design/methodology/approach\u0000In the digital age organization the CEO’s job description, and those of all the leadership team, will require radical redesign.\u0000\u0000\u0000Findings\u0000A successful digital-age CEO is an entrepreneur with a passion for creating new value for customers and a preoccupation with strategic agility and discerning new business opportunities.\u0000\u0000\u0000Practical/implications\u0000Perhaps the most critical feature of digital-era CEOs’ jobs is their focus on the continuous creation of new businesses.\u0000\u0000\u0000Originality/value\u0000A successful digital-age CEO is an entrepreneur with a passion for creating new value for customers and a preoccupation with strategic agility and discerning new business opportunities.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42399473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose Given their immense value-creating potential, ecosystems?and whether to build, buy, or join one?have become a top agenda item in boardrooms around the world. Design/methodology/approach Haier, a highly successful Chinese multinational corporation has developed an effective set of practices for managing an emergent, ecosystem-based business model. Findings The Haier case illuminates the unique challenges of leading a sprawling, ecosystem-based enterprise that must continually evolve. Practical/implications Haier employees fall into three categories? platform owners, microenterprise owners and entrepreneurs. Originality/value As a strategic innovator, Haier grouped its independent microenterprises into “Ecosystem Micro-Communities” (ECMs) of loosely connected, multi-disciplinary capability clusters organized around end users.
{"title":"Haier: ecosystem leadership","authors":"Paul J. H. Schoemaker, Jeffrey S. Kuhn","doi":"10.1108/sl-09-2021-0087","DOIUrl":"https://doi.org/10.1108/sl-09-2021-0087","url":null,"abstract":"\u0000Purpose\u0000Given their immense value-creating potential, ecosystems?and whether to build, buy, or join one?have become a top agenda item in boardrooms around the world.\u0000\u0000\u0000Design/methodology/approach\u0000Haier, a highly successful Chinese multinational corporation has developed an effective set of practices for managing an emergent, ecosystem-based business model.\u0000\u0000\u0000Findings\u0000The Haier case illuminates the unique challenges of leading a sprawling, ecosystem-based enterprise that must continually evolve.\u0000\u0000\u0000Practical/implications\u0000Haier employees fall into three categories? platform owners, microenterprise owners and entrepreneurs.\u0000\u0000\u0000Originality/value\u0000As a strategic innovator, Haier grouped its independent microenterprises into “Ecosystem Micro-Communities” (ECMs) of loosely connected, multi-disciplinary capability clusters organized around end users.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45537730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
G. Pooya, Nathan Cheng, Anthony Marshall, Jacob Dencik, Namit Agrawal
Purpose Ecosystems’ digitally enabled networks that enhance corporate value propositions by linking corporate units, suppliers, distributors, partners, customers and other stakeholders -- have become the engine that drives performance and strategic impact across economies. Article examines which ecosystem strategies are appropriate for firms in various situations. Design/methodology/approach A new IBM Institute for Business Value (IBV) survey of 700 executives involved in decision-making about their organizations’ ecosystem growth and partnering reveals that the companies most focused on ecosystem engagement consistently generate higher growth and more business value. Findings Analysis of the executive responses identified four distinct strategic approaches for ecosystem activity – Accelerate, Expand, Ignite and Reposition. Practical/implications Success is likely only if firms pursue the right ecosystem strategy for their situation, with the right business partners, executed the right way. Originality/value Ecosystems can enhance the value of products or services through both competition and cooperation with partners and rivals. For enterprises battling dislocation and disruption, ecosystems promote agility and resilience and can identify new revenue opportunities. As such, ecosystems have been the essential vehicle for growth and expansion for many corporations.
{"title":"Business success in the platform economy depends on the right ecosystem strategy and execution","authors":"G. Pooya, Nathan Cheng, Anthony Marshall, Jacob Dencik, Namit Agrawal","doi":"10.1108/sl-07-2021-0076","DOIUrl":"https://doi.org/10.1108/sl-07-2021-0076","url":null,"abstract":"\u0000Purpose\u0000Ecosystems’ digitally enabled networks that enhance corporate value propositions by linking corporate units, suppliers, distributors, partners, customers and other stakeholders -- have become the engine that drives performance and strategic impact across economies. Article examines which ecosystem strategies are appropriate for firms in various situations.\u0000\u0000\u0000Design/methodology/approach\u0000A new IBM Institute for Business Value (IBV) survey of 700 executives involved in decision-making about their organizations’ ecosystem growth and partnering reveals that the companies most focused on ecosystem engagement consistently generate higher growth and more business value.\u0000\u0000\u0000Findings\u0000Analysis of the executive responses identified four distinct strategic approaches for ecosystem activity – Accelerate, Expand, Ignite and Reposition.\u0000\u0000\u0000Practical/implications\u0000Success is likely only if firms pursue the right ecosystem strategy for their situation, with the right business partners, executed the right way.\u0000\u0000\u0000Originality/value\u0000Ecosystems can enhance the value of products or services through both competition and cooperation with partners and rivals. For enterprises battling dislocation and disruption, ecosystems promote agility and resilience and can identify new revenue opportunities. As such, ecosystems have been the essential vehicle for growth and expansion for many corporations.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49087248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Designed to evolve: digital transformation the Infosys way","authors":"B. Leavy","doi":"10.1108/sl-05-2021-0051","DOIUrl":"https://doi.org/10.1108/sl-05-2021-0051","url":null,"abstract":"","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48631842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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