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Foreword

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When many of today's leaders joined the workforce, “innovation” was synonymous with research and development or process efficiencies – the hallmarks of traditional competitive advantage. Little did any of us know then, that in our lifetimes an entire occupational discipline would emerge to keep companies “innovative” or continuously inventive. Or that titles like “director of innovation” and “chief innovation officer” or even “chief imagination officer” would decorate corporate organization charts.

But it did. And for good reason. The relatively short span of time in which we've seen some of the titans of industry displaced by “innovative” start-ups put the entire business world on notice. And the message is clear: merely maintaining your position is no longer sufficient. New growth, the kind associated with genuine innovation, that will bring value to your customers, your business, and even the world around you is the only way to ensure survival.

This urgency is not only felt by those with the word “innovation” etched into their job titles, but from the top of the company to the bottom, we are now all corporate innovators. With all these people focused on the problem, we should have it solved, right? Well.. , no.

The problem is, finding and capitalizing on new growth opportunities is hard – especially for established organizations that are often hampered by outdated mindsets, legacy business models, or large-scale bureaucracies. Core competencies can morph into corporate rigidities if we're not strategically alert and careful. Under these types of circumstances, the ability to “think outside the box” and create new growth initiatives is difficult. But with increased urgency comes the need to find a new path to growth – one that isn't rocket science. What we need is a road map to help discover, catalyze, and curate opportunities to deliver real growth. That's what this book helps us do.

Marc, Parker, and Matt have authored a rich, compelling journey for anyone pursuing new growth. In the process of introducing new ways of thinking about growth strategy and strategic innovation such as noncustomers, essential customer needs, and the building blocks of business and revenue models, they also introduce us to new ways of working. Throughout the book visual thinking methodologies and other business design thinking principles improve how you approach crafting and executing the strategy to build your new growth business. And these are supported by visualizations, tools, and templates that help you apply the approach to your own needs.

Additionally, they comfortably switch from well-known examples that illustrate concepts to fresh, unpublished case studies that serve to inspire the reader. In the end, they have created a provocative playbook grounded in rigorous academic research combined with practical, immersive experience.

While “innovation” isn't new, The Art of Opportunity makes it much more accessible to everyone. And that's something every corporate entrepreneur searching for new growth urgently needs.

– Deryck J van Rensburg, President, Coca-Cola Global Ventures

The Art of Opportunity

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