1 I ti Y Lif Innovating Your Life Applying the art & science of innovation to living a more inspiring, fulfilling and meaningful life Prof. Dr. Robert C. Wolcott Page 1 All Rights Reserved, Robert C. Wolcott Prof. Dr. Robert C. Wolcott Founder & Executive Director Kellogg Innovation Network The Business School of the 21 st Century: www.kinglobal.org Page 2 All Rights Reserved, Robert C. Wolcott
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Innovating yourlife prof. Robert C.Wolcott Oslo Innovation Week 2010-10-21
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I ti Y LifInnovating Your LifeApplying the art & science of innovation to living a more inspiring, fulfilling and meaningful life
Prof. Dr. Robert C. Wolcott
Page 1All Rights Reserved, Robert C. Wolcott
Prof. Dr. Robert C. WolcottFounder & Executive DirectorKellogg Innovation Network
The Business School of the 21st Century: www.kinglobal.org
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A quick plug for my new book…
(… don’t wait for the i )movie)
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Innovation Radar, v2.0
S l ti
PlatformEcosystem
Offering (What)
SolutionChannel
Customers(WHO)
CustomerNeeds(Who)
SupplyChain
(Where)
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Value Capture
CustomerExperience
Management
Process(How)
Communication
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Offering
Bridge between Strategy & Innovation
Customer
Solution
PlatformEcosystem
Supply Chain
Management
Offering
Channel
Customer Need
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Value Capture
ExperienceManagement
ProcessCommunication
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What did we learn at business school?
Observation:The Fad Cycle
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Premise:Apply the insights to living your life.
(Well, some of them.)
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Tension in business and life:the Present & the Future
Acting before the crisis
Fundamental Tension:Fortification vs. Exploration
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Acting before the crisis:
The Success Trap
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IBM’s near death experience
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1984 1992
Fortification versus ExplorationTension Exists Between Defending the Existing and Dominant Positions……and Creating New Growth Through New Directions
Fortification
• The Near Future of the Current Business
• Extending the Current Set of Products and Technologies
Exploration
• The Future Business
• Technological Innovation and New Services, Beyond Sustaining
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Technologies• Designed to Preserve
Market Share and Sustain Profitability
• Designed to Create New Markets and Generate Surprising Growth and Profitability
Sources: James March, 1991; Dr. Michael Clem, J&J, 2005
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So, what should we do?What the field of innovation suggests for living our lives
1. Always keep the mission in mind.
2. Write down your questions… really. (Enhance serendipity.)
3. Speak multiple ‘languages’… live in multiple worlds.
4. Build non-obvious networks… before you need solutions.
5. Create option paths (dealing with uncertainty).
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6. Seek the wisdom in mistakes, and the unexpected.
7. Above all… Know Thyself.
1. Always keep the mission in mind.
1977Challenge: Overwhelming Soviet conventional forces advantage in Europe
Strategy: Leverage technology to offset the Soviet advantage
Three platforms:•Smart weapons•Smart sensors•Stealth
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Stealth
Direction: Get it done in four years.
William J. PerrySecretary of Defense, 1994 – 1997Undersecretary of Defense for Research & Engineering, 1977 - 1981
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A lesson from the armed forces
Mission FocusMission ClarityMission Clarity
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2. Write down your questions, really.
Alexander Fleming & Penicillin
Chance favors the prepared mind.Louis Pasteur
Mold & Ancient HistoryMold & Ancient History
WWI: Fleming witnesses horrific wars deaths from bacterial infections. He seeks solutions.
1920s: Gratia & Dath publish article regarding Penicillium’s inhibiting properties with regard to
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properties with regard to Staphylococcus aureus cultures
Late 1920s: “Discovers” penicillum.
1930s – 1940s: Chain, Florey & Heatley achieve mass production for the War Effort
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What questions are you asking?What questions are you asking?
What questions are the people whom you love asking?
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Knowing the questions enhances positive serendipity. Otherwise, it’s all just luck.
Serendipity: An unsought, unintended or unexpected discovery or occurrence, made by accident and sagacity.
3. Live in multiple worlds.
People who live in the intersection of social worlds… are at higher risk of having good ideas.
Ronald Burt, SociologistUniversity of Chicago
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4. Build non-obvious networks… …before you need solutions.
Pleasant Nordic Countries
Nordic Council of Ministers
Build your own…•Objectives
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Novosibirsk, Siberia
A bunch of scientists in Siberia… literally!
j•Knowledge domains•Diversity•Absorptive Capacity
If you always look in the same places,you’ll likely find the same answers.
5. Create option paths.An Axiom: No Uncertainty = No Innovation
We diversify our investments. Why not our lives?
Business Risk
Uncertainty SpendRate
Business Risk
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Don’t manage the rate of failure,manage the cost of failure.
OptionManagement
CoreBusiness
Launch
Source: Ian McMillan & Rita Gunter McGrath
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6. Seek wisdom in mistakes… and the unexpected.
What is the first thing people typically do when they make a mistake or things don’t go as expected?mistake, or things don t go as expected?
The world’s most famous failed experiment (1887)Seeking the “Luminiferous Ether”.
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Albert Michelson & Edward Morley
If things don’t go as expected, perhaps there is a problemwith your view of the universe.
Thoughts from the Patent Office…The experiment didn’t fail. The theory did.
7 Above all Know Thyself7. Above all… Know Thyself
Vision or Realization?
Strategy or Execution?
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Tigger or Eyore?
Early Stage or Established Player?
Outcome or Process Motivated?
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The List, redux
1. Always keep the mission in mind.
2. Write down your questions… really. (Enhance serendipity.)
3. Speak multiple ‘languages’… live in multiple worlds.
4. Build non-obvious networks… before you need solutions.
5. Create option paths (dealing with uncertainty).
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6. Seek the wisdom in mistakes, and the unexpected.
7. Above all… Know Thyself.
Prepare your MindPrepare your Mind
Of what are you aware?
What are the problems you are trying to solve?
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p y y g(Carry the important ones around with you all the time.)
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Diversify & PrototypeDiversify & Prototype
Change your Context.
Create options in your life.
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FORGET about sunk costs.
Ul i lUltimately,
Find True Meaning.
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O C Obj iOur Common Objective
To expand prosperity for the global community while sustaining the planet.
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community while sustaining the planet.
(Proving Malthus wrong, again.)
You have a true mission
Malthus & the end of the world…
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My thanks, and a wish.
Many thanks for your time today.Particular thanks to the Oslo Innovation Week Team, Movation
and the Nordic Innovation Centre. I truly value the time I spend with all of you exploring innovation in the Nordic Region.
All blessings for your cumulative quests.
What YOU do will define a large part of our World in
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What YOU do will define a large part of our World in the coming Century.