Innovation Reading Club - Funky Business

READING CLUB -‐ CITEXVI

Angela Vazquez Quin;an

8 NOVEMBER 2011

CITEXVI -‐ 8 NOVEMBER 2011

THE BOOK

“Manifesto of what our 6me requires from business firms and their leaders“

Key words: ü  Global Village ü  Talent ü  Compe66ve advantage ü  Tribaliza6on


THE AUTHORS

Dr. Jonas Ridderstrale

•  Business speaker, writer and thinker.

•  Specialized in interna;onal business, global innova;on, and product development efforts in mul6na6onals

•  Visi6ng professor at Ashridge Business School (UK) and IE Business School (Spain).

Dr. Kjell A. Nordström

•  Consultant, writer and public speaker.

•  Focused on corporate strategy, mul;na;onal corpora;ons and globaliza;on.

•  Responsible for the Interna6onal Business course at Stockholm School of Economics.

The 2005 Thinkers 50 ranked Nordström and Ridderstråle at number nine interna;onally and put them on number one of Europe business gurus.


F

§  FUNKY S.A.

§  YOU FUNKY

§  FEELING FUNKY

OUTLINE q  FUNKY BUSINESS

§  FUNKY TIMES

§  FORCES OF FUNK

§  THE FUNKY VILLAGE

q  CONCLUSION

q  DISCUSSION

q  PROPOSALS FOR NEXT R.C.


FUNKY TIMES (I/II) In the past, a company had a great idea and exploited it for years before compe6tors. Then, the original idea was repeated in another country for more years.

PRESENT: making the difference gets harder

Ø  Talent Highly qualified employees

Ø  Globaliza6on No borders Ø  Time Living in real ;me


FUNKY TIMES (II/II) FUNKY FUTURE

Ø  Future is unknown, but who is going to create it? §  People able to develop change, evolve, innovate!

Ø  But in a society of high diversity, is innova6on enough? §  Change must be fast and unique to maintain compe66ve advantage

Ø  FUNKY BUSINESS should renew its organiza;on: §  Management §  Leadership


FORCES OF FUNK (I/II) Socio-‐economic landscape is changing rapidly so it’s required to understand the main forces behind:

TECHNOLOGY VALUES

INSTITUTIONS

DRIVE CHANGE


FORCES OF FUNK (II/II) TECHNOLOGY q  IT get beaer and faster

INSTITUTIONS q  The evolu6on in ins6tu6ons is slow but has great impact on our world. q  Capitalism, na6ons, companies, family concept are being renewed.

VALUES q  In the past, the values where local, currently are global q  But s6ll move the individual, the society, the corpora;ons.

High connec6vity Total Transparency POWER


FUNKY VILLAGE (I/II) Who can define the world today? ü  Deregulated global economy ü  Surplus of everything ü  Fusion (ideologies, food, product/services…) ü  Customiza;on: the customer as a co-‐designer/producer ü  Tribaliza;on: new tribes based on a`tudes, experiences or knowledge ü  Personaliza;on: everybody can be absolutely unique

CONFUSION How to compete in this world?


FUNKY VILLAGE (II/II) Anybody knows Wally Masur?

§  He’d been among the 50 best tennis players.

§  He never signed a publicity contract.

§  What about Sampras, Agassi or Nadal?

§  Being the best is an ADDED VALUE

FIRMS WANT THE BEST ONES!


Ø  How the future firm will be and operate? “The future firm must thrive on its ability to be different and add value in new ways.”

The company of tomorrow profits from the changing circumstances and the unpredictability of our 6mes, FUNKY S.A. is:

LEVERAGED

FUNKY S.A. (I/V)

FOCUSED

HETERARCHICAL

INNOVATIVE


FUNKY S.A. (II/V) FUNKY S.A. FOCUSED: The future company won’t try to do everything for everybody; they try to make meaning to concrete persons.

MARKET NICHE

TRIBE ORIENTED

PRECISE BUSINESS

FOCUSED


FUNKY S.A. (III/V) FUNKY S.A. LEVERAGED (reinforcement):

INTERNAL (responsibility of each employee)

ü  Knowledge exchange ü  Transforming knowledge

INDUSTRIAL ü  Entering new industries based on iden;fied customer’s agtudes. ü  Example: merchandising for fans, in addi6on to music products.

INTERNATIONAL ü  Global thinking and ac;on

GAS LIQUID SOLID

IDEAS EXPLANATION PROPOSAL


FUNKY S.A. INNOVATIVE: §  Re-‐inven6ng strategy

§  Fast ac6ons

§  Innovate with intelligence

§  Combine homogeneity with heterogeneity

FUNKY S.A. (IV/V)

Richard Branson -‐ Owner Each company should find the special receipt


FUNKY S.A. (V/V) FUNKY S.A. HETERARCHICAL: §  Hierarchies of different classes.

§  Spagueg structure: apparently is chao6c but each employee correspond to a set of resources.

§  Features of the Funky structure:

o  Smaller: more crea6vity o  Flat: problems and process are solved faster o  Temporal: based on projects and teamworks o  Horizontal: any event implies several areas o  Circular: 360⁰ perspec6ve to enhance auto-‐organiza6on o  Open: partnering, networking o Measured: to iden6fy achievements


YOU FUNKY (I/II) How to organize a funky company? §  Forces: dynamism, risk and constant value crea6on

§  Leaders §  First step: ge`ng the right workers §  Must lead employees to crea6vity

§  Workers demand: §  Orienta6on §  Tolerance §  Interest §  Ajen6on


YOU FUNKY (II/II) Successful FUNKSTER:

•  BEING UNIQUE

•  BEING A BRAND

•  BEING CONNECTED

Management of Dreams §  Power consists on providing interes6ng dreams to move the persons.


FEELING FUNKY The Holy Grail of Business q  Temporal monopoly (meaning market niche) q  How?

§  Making the difference: o  Low cost o Added value

§  Exclusivity: an idea, marke6ng strategy, packaging, culture… §  Based on Emo;onal Competence (emo6ons and imagina6on) to

understand the customer and coworkers.

q  Infinite Innova6on q  Emo;onal Company


FUNKY EXAMPLE GOOGLE FORMAL FRIDAY

hjp://bcove.me/wvi5p2hr


ü  Importance of teamwork: ü  Innova;on starts with each worker ü  Leaders must propi;ate crea;vity ü  Funky structure: flat and circular

ü  Defining core values is a step to mo6vate and

encourage employees TRIBALIZATION

ü  Thinking global is the key, ideas have no limits

CONCLUSIONS


THANKS FOR YOUR ATTENTION


PROPOSAL 1

A book that challenges individuals, businesses and na6ons to create originals rather than cover versions.


PROPOSAL 2

GUY KAWASAKI

§  Silicon Valley Venture Capitalist §  Apple Fellow

“Guide for anyone star6ng anything”


PROPOSAL 3 “The rol of storytelling in business sucess.”

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