Category Archives: Innovation

Building an Innovation Ecosystem

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Engaging Stakeholders for Success

Engaging Stakeholders for Success: Engaging Stakeholders for Success

GUEST POST from Art Inteligencia

Innovation is the lifeblood of any thriving economy and organization. It is a catalyst for growth, competitiveness, and long-term sustainability. However, fostering a culture of innovation requires more than just a single organization’s efforts. It demands the creation of a collaborative ecosystem that engages diverse stakeholders. This thought leadership article explores the importance of building an innovation ecosystem and presents two case study examples to demonstrate how engaging stakeholders can lead to remarkable success.

Case Study 1: Silicon Valley’s Innovation Ecosystem

Silicon Valley, located in California, has long been synonymous with innovation and technological advancements. Its success can be attributed to the establishment of a robust innovation ecosystem that engages a wide range of stakeholders. Academic institutions like Stanford University and UC Berkeley provide a constant influx of fresh talent and cutting-edge research. Investors and venture capitalists fuel entrepreneurial ventures by providing funding and mentorship opportunities. Government support in terms of favorable policies, infrastructure development, and grants has also played a crucial role. Furthermore, industry leaders like Google, Apple, and Facebook have fostered an environment of collaboration by establishing open innovation programs and incubators. The interconnectedness of these stakeholders has created a unique ecosystem that promotes innovation, propelling Silicon Valley to the forefront of the global tech landscape.

Key Takeaway: Successful innovation ecosystems require the active involvement of academia, investors, government, and industry leaders. A collaborative approach that connects these stakeholders enhances the exchange of knowledge, resources, and opportunities, catapulting the region’s innovation capabilities.

Case Study 2: Barcelona’s Smart City Initiative

Barcelona, the capital of Catalonia, Spain, has gained international recognition for its smart city initiatives. The city has embraced technology and innovation to enhance the quality of life for its residents. One of the key factors behind Barcelona’s success is its focus on engaging stakeholders in the public and private sectors. The local government partnered with technology companies, research institutes, and universities to develop innovative solutions for urban challenges. For instance, the implementation of smart mobility systems, such as electric buses and bike-sharing programs, was made possible through collaborations with technology companies like IBM and Cisco. Additionally, Barcelona created a dedicated Smart City Campus that serves as a hub for research, testing, and incubation of new urban technologies. By engaging a wide range of stakeholders, Barcelona has transformed itself into a leading smart city that offers improved sustainability, efficient services, and a higher quality of life for its citizens.

Key Takeaway: Engaging stakeholders from both public and private sectors is essential for cities to successfully implement and drive innovation initiatives. A collaborative ecosystem that fosters partnerships, co-creation, and knowledge exchange enables cities to leverage technology for sustainable urban development.

Conclusion

Building an innovation ecosystem that engages stakeholders is crucial for organizations and cities aiming to achieve long-term success. As demonstrated by the case studies of Silicon Valley and Barcelona, collaboration between academia, investors, government, and industry leaders is a potent driver of innovation. By creating an environment that nurtures collaboration, knowledge exchange, and resource sharing, organizations and cities can fuel their innovation capabilities and achieve remarkable outcomes. Embracing stakeholder engagement will not only foster innovation but also contribute to economic growth, societal well-being, and a sustainable future.

Bottom line: Futures research is not fortune telling. Futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futures research themselves.

Image credit: Pexels

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Design Thinking and Diversity & Inclusion

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Fostering Innovation through Different Perspectives

Design Thinking and Diversity & Inclusion

GUEST POST from Chateau G Pato

Design Thinking has emerged as a powerful methodology that enables organizations to tackle complex problems and create innovative solutions. At its core, Design Thinking encourages empathy, collaboration, and iteration. However, to fully reap the benefits of this approach, organizations must recognize the importance of Diversity & Inclusion (D&I) in the design process. By incorporating diverse perspectives, organizations can foster innovation and create solutions that better serve their customers and communities. In this article, we will explore how Design Thinking and D&I complement each other and present two case studies highlighting their impact on innovation.

Case Study 1: Procter & Gamble’s “Design for Women”

Procter & Gamble (P&G), a multinational consumer goods company, aimed to develop a razor specifically designed for women. To achieve this, they assembled a diverse team comprising individuals from various backgrounds, including women with different ethnicities, ages, and cultural experiences.

By incorporating D&I principles into the design process, the team empathized with the diverse needs and preferences of women worldwide. This approach led to the creation of the “Venus Embrace,” a razor that not only performed exceptionally well but also catered to the specific needs of women, such as comfort, ease of use, and aesthetics.

P&G’s commitment to D&I through Design Thinking not only resulted in a successful product but also reinforced their reputation as a brand that truly understands and values its target audience. This case study demonstrates how acknowledging and embracing diversity can lead to breakthrough innovations that resonate with customers on a deeper level.

Case Study 2: Airbnb and Inclusive Design

Airbnb, a leading online marketplace for accommodations, recognized early on that their success depended on creating an inclusive platform that catered to a wide range of travelers. To achieve this, they adopted Design Thinking principles and focused on incorporating D&I into their design process.

Airbnb initiated “The Airbnb Design Language System” project, which aimed to provide an accessible and inclusive user experience across their platform. They collaborated with individuals from diverse backgrounds, including people with disabilities, LGBTQ+ individuals, and different ethnicities. By involving these diverse stakeholders, Airbnb gained valuable insights into the specific challenges that certain groups faced when using their platform.

Through Design Thinking, Airbnb developed features such as improved filters for accessibility requirements, expanded language options, and inclusive profile settings. These enhancements not only made the platform more user-friendly but also created a strong sense of belonging for users from all backgrounds.

By incorporating D&I principles into their design process, Airbnb gained a competitive edge that enabled them to tap into previously underserved markets. This case study demonstrates how Design Thinking and embracing different perspectives can drive innovation while promoting social equality and inclusivity.

Conclusion

Design Thinking and Diversity & Inclusion are integral to fostering innovation in today’s rapidly changing world. The case studies of Procter & Gamble and Airbnb highlight the power of incorporating diverse perspectives into the design process. Incorporating D&I enables companies to empathize with their target audience, uncover unmet needs, and create innovative solutions that cater to a broader customer base. Embracing diversity not only leads to more successful products and services but also plays a crucial role in creating a more inclusive and equitable society. As organizations strive to stay competitive and meet the evolving needs of their customers, Design Thinking and D&I will continue to be essential drivers of innovation and growth.

Bottom line: Futurology is not fortune telling. Futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futurology themselves.

Image credit: misterinnovation.com

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The Future of Human-Centered Design

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Emerging Trends and Technologies

The Future of Human-Centered Design
GUEST POST from Chateau G Pato

Human-centered design has become a driving force in the technological advancements and innovation of products and services. By focusing on the needs, desires, and behaviors of users, this approach has created a significant impact on improving user experience and satisfaction. As we look towards the future, several emerging trends and technologies show great potential in shaping the future of human-centered design. In this article, we will explore these trends and technologies and present two case study examples highlighting their impact.

1. Artificial Intelligence (AI) and Personalization:

Artificial intelligence has rapidly evolved in recent years, enabling machines to analyze vast amounts of data and make informed decisions. This technological advancement has opened up exciting possibilities for personalization in human-centered design. By understanding user preferences, habits, and behavior patterns, AI can tailor experiences and interfaces to meet individual needs.

Case Study 1: Netflix

Netflix, a leading online streaming platform, has leveraged AI to revolutionize the way content is recommended to its users. By analyzing viewing habits, search history, and other data, Netflix uses various algorithms to suggest personalized content recommendations to each user. This approach not only enhances the user experience but also drives user engagement and satisfaction. Through AI-powered personalization, Netflix has strengthened its position as a leader in the streaming industry.

2. Internet of Things (IoT) and User-Focused Automation:

The Internet of Things has created a connected ecosystem of smart devices, providing valuable data for human-centered design. Combining IoT with user-focused automation can optimize user experiences by seamlessly integrating devices and technologies into everyday activities.

Case Study 2: Philips Hue Lighting System

Philips Hue, a smart lighting system, leverages IoT to enhance user experiences within their homes. This system enables users to control the lighting settings through a smartphone app or voice commands. By connecting with other smart devices, such as motion sensors, the system can automate lighting based on user presence and preferences. This user-focused automation fosters a seamless and personalized experience by adapting to user needs and creating the desired ambiance.

Conclusion

The future of human-centered design is promising, with emerging trends and technologies pushing the boundaries of innovation. Artificial intelligence and personalization offer opportunities for tailoring experiences and interfaces to individual needs, as exemplified by Netflix. The Internet of Things and user-focused automation, as seen in the Philips Hue lighting system, enhance user experiences by seamlessly integrating smart devices into daily activities. As these trends and technologies continue to evolve, human-centered design will further improve user satisfaction and drive innovation in countless domains. Embracing these emerging trends is crucial for organizations aspiring to lead in a digitally transformative world.

Bottom line: Futurology is not fortune telling. Futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futurology themselves.

Image credit: Pixabay

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The Power of Big Data

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Driving Innovation and Insights in the Digital Age

The Power of Big Data

GUEST POST from Art Inteligencia

In today’s digital age, the massive amounts of data generated every second have unparalleled potential to drive innovation and provide invaluable insights across various industries. With the advent of big data analytics, organizations can now harness this enormous volume of information to unlock new opportunities, improve decision-making processes, and foster growth. In this article, we will explore the transformative power of big data through two case studies, showcasing how businesses have leveraged it to drive innovation and gain unparalleled insights.

Case Study 1: Amazon’s Personalized Recommendations

Amazon, the world’s largest online retailer, has revolutionized the way we browse and shop by effectively utilizing big data analytics. By leveraging extensive customer data, including browsing history, purchase behavior, and product ratings, Amazon has developed an incredibly effective recommendation system that personalizes each user’s shopping experience.

Through the power of big data, Amazon’s algorithms analyze millions of data points to make predictions about a customer’s potential interests. These recommendations have significantly increased customer engagement, driving sales and loyalty. In fact, it’s estimated that approximately 35% of Amazon’s revenue comes directly from these personalized recommendations.

By leveraging big data insights, Amazon understands customer behavior patterns, which allows them to optimize their supply chain management, inventory, and product placement. This invaluable knowledge enables Amazon to forecast demand accurately, reduce costs, and optimize their operations, contributing to its position as an industry leader.

Case Study 2: Google’s Self-Driving Cars

The development of self-driving cars by Google’s parent company, Alphabet, illustrates how big data is transforming the automotive industry. Google’s autonomous vehicles rely on a multitude of sensors, including cameras, radar, and LIDAR, to collect and process vast amounts of real-time data about the vehicle’s surroundings.

Big data analytics enables these vehicles to react dynamically to changing road conditions, avoiding accidents, and providing a safe driving experience. Through machine learning algorithms, these cars continuously analyze the collected data to improve their decision-making capabilities over time.

Moreover, the data collected by these self-driving cars provides invaluable insights into traffic patterns, road conditions, and potential hazards. This knowledge can be utilized to optimize urban planning, reduce congestion, and improve infrastructure. By leveraging big data, Google has not only created a groundbreaking technology but has also paved the way for a smarter and safer future of transportation.

Conclusion

These case studies clearly demonstrate the immense power of big data in driving innovation and generating invaluable insights. From revolutionizing customer experiences to transforming entire industries, big data analytics has become an integral part of businesses across the globe. Embracing and effectively leveraging the potential of big data will not only enhance decision-making processes but also foster growth and lead to a more efficient and prosperous future in the digital age.

Image credit: Pixabay

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The Benefits and Challenges of Open Innovation

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The Benefits and Challenges of Open Innovation

GUEST POST from Chateau G Pato

Innovation has always been the lifeblood of successful organizations. It fuels growth, promotes competitiveness, and drives industry disruption. Traditionally, innovation was conducted within the boundaries of individual organizations, with internal R&D teams tirelessly working behind closed doors to develop new products or services. However, the rise of open innovation has revolutionized this approach, allowing companies to tap into external sources of knowledge, ideas, and expertise. By embracing collaboration with external partners – such as customers, suppliers, startups, and even competitors – organizations can magnify the potential for groundbreaking innovations. Nonetheless, this new paradigm comes with its own set of challenges. In this article, we will explore the benefits and challenges of open innovation through two illustrative case studies.

Case Study 1: Procter & Gamble’s Connect + Develop Program

Procter & Gamble (P&G) is renowned for its strategic implementation of open innovation. In 2000, the company realized that its internal R&D efforts were not generating sufficient breakthrough innovations. Instead of solely relying on its own resources, P&G decided to embrace external collaboration. Through its Connect + Develop program, P&G reached out to external partners including universities, entrepreneurs, and small to medium-sized companies. P&G provided them with a platform to submit innovative ideas and solutions. By doing so, P&G successfully tapped into a vast network of external expertise, expanding its innovation ecosystem. This ended up playing a vital role in the development and launch of successful products like Swiffer and Olay Regenerist.

The benefits of P&G’s open innovation approach were manifold. First, it significantly reduced the time and cost associated with the development of new products. Second, it allowed P&G to access a wider range of expertise and knowledge, effectively leveraging external perspectives that may not have been present within the organization. Third, it helped foster a culture of innovation both internally and externally, as P&G became known for its willingness to approach innovation with an open mindset.

However, open innovation also posed several challenges for P&G. One of the biggest was the need to manage intellectual property. When collaborating with external partners, P&G had to strike a balance between sharing enough information to enable collaboration while protecting its valuable proprietary knowledge. Establishing trust with external partners was also crucial, as it required a level of transparency and mutual understanding to forge successful collaborations.

Case Study 2: LEGO’s LEGO Ideas Platform

LEGO, the iconic Danish toy company, successfully harnessed open innovation through its LEGO Ideas platform. Launched in 2008 as LEGO Cuusoo, the platform allows LEGO fans and enthusiasts to submit their own designs for potential LEGO sets. Once submitted, the designs are available for public voting. If a design receives 10,000 votes, it goes through an official review process by LEGO’s design team, and if selected, the design becomes an official LEGO set sold worldwide. This open innovation approach not only engages LEGO’s passionate fan base but also acts as a novel source of innovative product ideas.

The benefits of LEGO’s open innovation approach with LEGO Ideas are evident. It provides a direct connection with customers and empowers them to contribute to product development. This not only improves customer satisfaction but also increases brand loyalty. Moreover, the platform acts as a crowdsourcing tool, amplifying the diversity of ideas and creativity beyond what LEGO’s internal teams could generate alone. Furthermore, the LEGO Ideas platform enables LEGO to gain insights into emerging trends and customer preferences.

Despite its success, LEGO faced challenges in managing the volume of submissions and ensuring the profitability of the resulting sets. Additionally, balancing customer desires, brand consistency, and manufacturing feasibility required thoughtful curation and selection processes to determine which ideas would be pursued.

Conclusion

Open innovation offers numerous advantages to organizations seeking to enhance their innovation capabilities. These benefits can range from better utilization of external expertise and reduced time-to-market to increased customer engagement and differentiation. However, companies embarking on open innovation journeys must navigate potential challenges around the protection of intellectual property, establishing trust with external partners, managing a large volume of submissions, and curating the best ideas. Overall, as exemplified by Procter & Gamble and LEGO, organizations that embrace open innovation strategically and overcome these challenges can unlock tremendous potential and gain a competitive edge in today’s rapidly evolving business landscape.

Bottom line: Futurology is not fortune telling. Futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futurology themselves.

Image credit: misterinnovation.com

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What is an Innovation Ecosystem?

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What is an Innovation Ecosystem?

GUEST POST from Art Inteligencia

Innovation ecosystems are networks of people, companies, and organizations that are dedicated to fostering innovation. They are complex systems that require collaboration, communication, and investment from a variety of actors to create an environment conducive to innovation.

Innovation ecosystems exist in many different forms. They can be global, regional, or local in scope. They can be physical or virtual. They can involve universities, research centers, venture capitalists, entrepreneurs, incubators, accelerators, and other stakeholders.

Innovation ecosystems are designed to foster collaboration and communication among stakeholders and to ensure that ideas, resources, and capital flow freely. They provide a platform for stakeholders to share knowledge and insights, exchange ideas, and develop innovative solutions. They also provide access to resources, mentoring, and funding to help entrepreneurs and companies launch and scale their ideas.

Innovation ecosystems play a vital role in creating a fertile environment for innovation. By connecting people, resources, and capital, they can help companies, entrepreneurs, and startups launch and scale their ideas. They also create an environment of collaboration and creativity, which can lead to the development of new products and services.

Innovation ecosystems are dynamic and constantly evolving. They require ongoing investment and support from all stakeholders. Governments, universities, research centers, and other public and private entities can all play a role in creating and sustaining innovation ecosystems.

Innovation ecosystems are essential for sustaining innovation, enabling companies to realize their potential, and driving economic growth. By providing the platform for collaboration, communication, and investment, they can help create an environment conducive to innovation and create a future full of potential.

Image credit: Pixabay

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Voting Closed – Top 40 Innovation Bloggers of 2020

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Vote for Top 40 Innovation BloggersFor more than a decade I’ve devoted myself to making innovation insights accessible for the greater good, because I truly believe that the better our organizations get at delivering value to their stakeholders the less waste of natural resources and human resources there will be.

As a result I am eternally grateful to all of you out there who take the time to create and share great innovation articles, presentations, white papers, and videos and to make a list of the Top 40 Innovation Bloggers available each year.

My lists from the eight previous years have been tremendously popular:

Top 40 Innovation Bloggers of 2012
Top 40 Innovation Bloggers of 2013
Top 40 Innovation Bloggers of 2014
Top 40 Innovation Bloggers of 2015
Top 40 Innovation Bloggers of 2016
Top 40 Innovation Bloggers of 2017
Top 40 Innovation Bloggers of 2018
Top 40 Innovation Bloggers of 2019

Business Strategy Innovation is now looking for the Top 40 Innovation Bloggers of 2020.

Do you, or does someone you know, write articles about innovation?

Or do you just have someone that you like to read that writes about innovation, or some of the important adjacencies – trends, consumer psychology, change, leadership, strategy, marketing, management, collaboration, or social media (as they relate to innovation)?

Well, Business Strategy Innovation is looking to recognize the Top 40 Innovation Bloggers and you helped us find them with your nominations. Now it is time to vote, and help us narrow things down to a list of the Top 40 Innovation Bloggers of 2020.

Build a Common Language of Innovation on your team

The deadline for submitting votes is January 7, 2021 at midnight GMT.

The ranking will be done by me with influence from votes and nominations. The quality and quantity of contributions by an author will be a BIG contributing factor (through the end of the voting period).

You can vote in any of these three ways (and each earns points for them, so please feel free to vote all three ways):

  1. Sending us the name of the blogger by @reply on twitter to @innovate
  2. Adding the name of the blogger as a comment to this article’s posting on Facebook
  3. Adding the name of the blogger as a comment to this article’s posting on our Linkedin Page (Be sure and follow us)

The official Top 40 Innovation Bloggers of 2020 and the contest winners will then be announced here in early January 2021.

Here is who received nominations (in alphabetical order):

Adi Gaskell – @adigaskell
Alex Goryachev
Andy Heikkila – @AndyO_TheHammer
Arlen Meyers
Braden Kelley – @innovate
Chad McAllister – @ChadMcAllister
Chris Beswick
Dan Blacharski – @Dan_Blacharski
Daniel Burrus – @DanielBurrus
Daniel Lock
Dave Wendland
David Burkus
Douglas Ferguson
Drew Boyd – @DrewBoyd
Frank Mattes – @FrankMattes
Gregg Fraley – @greggfraley
Greg Satell – @Digitaltonto
Hugo de Sousa
Ian Ure
Janet Sernack – @JanetSernack
Jay Boolkin
Jeffrey Baumgartner – @creativejeffrey
Jeff Freedman – @SmallArmyAgency
Jeffrey Phillips – @ovoinnovation
Jorge Barba – @JorgeBarba
Julian Birkinshaw – @JBirkinshaw
Julie Anixter – @julieanixter
Kate Hammer – @Kate_Hammer
Kevin McFarthing – @InnovationFixer
Kevin Namaky – @knamaky
Kevin Popovic
Lou Killeffer – @LKilleffer
Mari Anixter- @MariAnixter
Maria Paula Oliveira – @mpaulaoliveira
Marty Zwilling – @StartupPro
Matthew E May – @MatthewEMay
Michael Graber – @SouthernGrowth
Mike Brown – @Brainzooming
Mike Shipulski – @MikeShipulski
Mukesh Gupta
Nick Partridge – @KnewNewNeu
Nicolas Bry – @NicoBry
Pamela Soin
Paul Hobcraft – @Paul4innovating
Paul Sloane – @paulsloane
Pete Foley – @foley_pete
Ralph Christian Ohr – @ralph_ohr
Richard Haasnoot – @Innovate2Grow
Robert B Tucker – @RobertBTucker
Rowan Gibson – @RowanGibson
Saul Kaplan – @skap5
Scott Anthony – @ScottDAnthony
Scott Bowden – @scottbowden51
Shelly Greenway – @ChiefDistiller
Soren Kaplan – @SorenKaplan
Stefan Lindegaard – @Lindegaard
Stephen Shapiro – @stephenshapiro
Steven Forth – @StevenForth
Tamara Kleinberg – @LaunchStreet
Tim Stroh
Tom Koulopoulos – @TKspeaks
Yoram Solomon – @yoram

We’re curious to see who you think is worth reading!


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Nominations Closed for the Top 40 Innovation Bloggers of 2020

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Nominations Open for the Top 40 Innovation Bloggers of 2020Business Strategy Innovation loves making innovation insights accessible for the greater good, because we truly believe that the better our organizations get at delivering value to their stakeholders the less waste of natural resources and human resources there will be.

As a result we are eternally grateful to all of you out there who take the time to create and share great innovation articles, presentations, white papers, and videos with Braden Kelley and the Business Strategy Innovation team. As a small thank you to those of you who follow along, we like to make a list of the Top 40 Innovation Bloggers available each year!

Our lists from the ten previous years have been tremendously popular, including:

Top 40 Innovation Bloggers of 2012
Top 40 Innovation Bloggers of 2013
Top 40 Innovation Bloggers of 2014
Top 40 Innovation Bloggers of 2015
Top 40 Innovation Bloggers of 2016
Top 40 Innovation Bloggers of 2017
Top 40 Innovation Bloggers of 2018
Top 40 Innovation Bloggers of 2019

Do you just have someone that you like to read that writes about innovation, or some of the important adjacencies – trends, consumer psychology, change, leadership, strategy, behavioral economics, collaboration, or design thinking?

Business Strategy Innovation is now looking for the Top 40 Innovation Bloggers of 2020.

The deadline for submitting nominations is December 31, 2020 at midnight GMT.

You can submit a nomination either of these two ways:

  1. Sending us the name of the blogger and the url of their blog by @reply on twitter to @innovate
  2. Sending the name of the blogger and the url of their blog and your e-mail address using our contact form

So, think about who you like to read and let us know by midnight GMT on December 31, 2020.

We will then compile a voting list of all the nominations, and publish it on January 1, 2021.

Voting will then be open from January 1-7, 2021 via comments and twitter @replies to @innovate.

The ranking will be done by me with influence from votes and nominations. The quality and quantity of contributions by an author will be a contributing factor.

The official Top 40 Innovation Bloggers of 2020 will then be announced on here in early January 2021.

We’re curious to see who you think is worth reading!


Accelerate your change and transformation success

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FREE Download – 500 Posters with Quotes on Innovation, Change, Transformation, Design and Creativity

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Announcing 500 Downloadable Posters with Quotes on Innovation, Change, Transformation, and Design

I am honored and humbled that people have taken to quoting work from my first book Stoking Your Innovation Bonfire, my follow-up Charting Change, and my keynote speeches, so I decided to make some of the passages that have resonated with people on innovation, change, transformation, design thinking, and leadership available in a fun, visual, easily shareable format along with quotes from numerous other thought leaders.

I’ve been publishing them on Instagram, LinkedIn, Facebook, Twitter and MisterInnovation.com one at a time for individual download, but today I am excited to announce the immediate availability of ten (10) volumes of fifty (50) quote posters, for a total of 500 quote posters, for immediate free download.

Print them, share them on social media, or use them in your presentations, keynote speeches or workshops. Download any or all of the volumes of fifty (50) posters for FREE from my store:

You can add them all to your shopping cart at once and download them for FREE.

They are all Adobe PDF’s and the best way to add them to your presentation is to put the PDF into FULL SCREEN MODE, take a screenshot, paste it into your presentation, then crop it and adjust the size to your liking, and change the background color of the slide to a suitable color (if necessary).

Get them while they’re hot and I’ll keep publishing individual quotes and additional downloadable volumes in the days and months ahead.

Have a great innovation, design thinking, change, transformation, or design quote to share?

Send it to me

Keep innovating!


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A Revolutionary Way to Create Shared Value for Businesses, Customers, and Society

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Interview with Erich Joachimsthaler

Erich JoachimsthalerI had the opportunity recently to interview fellow author Erich Joachimsthaler, the Founder and CEO of Vivaldi, one of the largest independent global strategy and business transformation firms, to talk with him about his new book The Interaction Field: The Revolutionary New Way to Create Shared Value for Businesses, Customers, and Society, to explore the important role that connections play in both business and innovation.

1. What are the key elements of an interaction field?

Interaction field companies or interaction field business models are highly open architectures that facilitate interactions among multiple participants, and distinguish from other digital business models like platforms (Uber, OpenTable, etc.) or digital ecosystem (Airbnb or Apple, etc.) in four ways:

  1. They solve new problems and intractable challenges (framing)
  2. They are interactional not transactional. They create collaboration, engagement, and participation across the entire interaction field including the nucleus, ecosystem and market makers (designing)
  3. They are open, inclusive and comprehensive and deeply integrate in the lives of participants (building)
  4. They enable sharing of value creation (sharing)

2. Why are interaction fields important?

They are important because they drive innovation in entirely new ways, create real new value for consumers and everyone else, and they can create exponential growth because they leverage the hyperconnectivity of everything today: where everything connects and is available anytime and anywhere.

3. What is broken in the current way of creating shared value for businesses, customers, and society?

What’s broken is that we all believe in it, but we don’t do it. Not because for wanting but because nobody has given us a business model or a framework and process to actually build a company that delivers on stakeholder capitalism. That business model is the interaction field model.

4. Has the importance of velocity of businesses changed? And if so, how?

We live in an age of accelerations. This isn’t a new thesis and wonderfully was explored by Thomas L. Friedman in his book: Thank You For Being Late. He believes that computing power has created the conditions for this change. How has the velocity changed? Three ways:

In the 1990s, when information connected to information over a website, called the internet. Two technologies emerged, ecommerce and search which created two of the most valuable companies today, namely Amazon and Google.

The next phase happened around 2007 and 2009 when people connected to people. Social media or networks became the technology and the smartphone enabled explosive connectivity. This created Facebook and Apple and a host of other companies.

We are now on the verge of the third phase where everything connects, people, information, companies, things, machines, devices and other things, anything, anywhere and anytime. Like in the previous phases, a new set of technologies from AI to quantum computing, converge and mature at the same time which will enable untold and unimaginable value creation, innovation and growth.

This changes everything. Traditional boundaries between industries and markets vanish, or at least blur. The notion of geography in terms of distance is changing, we truly live in a borderless world. Traditional value creation of companies through innovation will change.

The Interaction Field Book5. What is the difference between a platform-driven business model and an interaction field-driven business model?

Platform business models are transitional. They solve simple problems. Uber is an example that matches riders with drivers, OpenTable that matches empty restaurant seats with guests. They focus primarily on transactions, and scale based on the frequency of interaction, often a simple core interaction between two or more participants. OpenTable allows restaurants to list open tables, and guests provide feedback in the form of votes, ratings. Platforms are a good business model if you want to build OpenTable for X, the Airbnb for Y or the Uber or Lyft for Z. Go and organize a design thinking workshop and you pretty much can write a draft business model.

Platforms also often are merely self-serving. They create wealth for the orchestrator or shareholders. Look at Uber, are drivers really better off driving for Uber? Are gig economy workers really better off? Look at Amazon, who really benefits, anyone knows who is the richest man in the world? Who made in the pandemic $13.5 billion in one day? Look at Apple, who faces massive lawsuits from developers.

Continue reading the article on InnovationManagement.se


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