How to Build a Breakthrough Business Within an Existing Old One – From Idea to Execution.
Even world-class companies with successful business models eventually hit the ceiling on growth. That’s what makes emerging industries so attractive. These markets represent huge opportunities for capturing long-term growth and competitive advantage. But because they lack a proven formula for making a profit, they are risky and expensive – with dire consequences for failure.
The P4PE Institute believes that every organisations survival depends on strategic experiments that target such untested markets, but few firms understand how to implement them successfully. Too many managers think that a great idea is enough to get them from business plan to profitability, but somewhere in the middle of the innovation process, most organisations stumble. In the STRATEGIC INNOVATION MANATERCLASS (SIM) we reveal where firms go wrong on their journey from idea to execution – and outline exactly what it takes to build a breakthrough business while sustaining excellence in an existing one.
Based on an in-depth, multiyear research study of innovative initiatives at ten large corporations, the masterclass identifies three central prerequisites to strategic innovation:
Forgetting some key assumptions that made the current business successful
Borrowing assets from the established organisation to fuel the new one
Leaving how to succeed in an emerging and uncertain market
The Master Class will illustrate ten rules to help organisations meet these challenges. And show how firms must rewire their “organisation DNA” across four main areas – Staffing, Structure, System and Culture – in order for a promising new venture to succeed. They also spell out the critical role senior executives must play in managing the inevitable tensions that arise between today’s business and tomorrow’s.
Breakthrough growth opportunities can make or break companies and careers. The Strategic Innovation Masterclass (SIM) is every leaders’ guide to execution in unexplored territory.
Chapter One: Why Strategic Innovators Need A Different Approach to Execution
Chapter Two: Why Organizations, Like Elephants, Never Forget
Case: Corning Microarry Technologies
Chapter Three: Taming the Elephant
Chapter Four: Why Tensions Rise When NewCo Borrows from CoreCo
Case: New York Times Digital
Chapter Five: Turning Tension into a Productive Force
Chapter Six: Why Learning from Experience is an Unnatural Act
Chapter Seven: How Being Bold, Competitive, Or Demanding can Inhabit Learning
Case: Hasbro Interactive
Chapter Eight: How Being Reasonable, Inspiring, or Diligent can Inhabit Learning
Chapter Nine: Finding Gold with Theory-Focused Planning
Chapter Ten: The Ten Rules Explained
Case: Analog Devices
Chiefs and Executives responsible for strategic business direction. In particular, Senior Executives with these designations and responsibilities will find the master class very useful:
CXOs (CEO, CFO, COO, CMO etc)
Heads of HR, Strategy, Finance, Operations, Marketing, Services etc