It was a pleasure to have James Mabbott from KPMG Innovate present at our most recent Transformation and Change Management Breakfast on the topic of Innovation and Commercial Return. James was accompanied by a Graphic Illustrator, Phillip Marsden, who fascinated us all by capturing the key themes of the presentation, as shown above.
Relevant points included:
- Recent years have been characterized by unprecedented change – industry shocks, business model disruptions, pivotal economic and geopolitical moments, and changing consumer behaviour.
- A collision of 3 disruptive and industry-defining revolutions is underway – “A Perfect Storm”:
- Geographic/geopolitical – the US, Brexit
- Demographic/changing behaviours – the rise of the millennial
- Technological – pervasive impact of technology and game-changing automation developments
- Nearly every business is pursuing innovation at some level – we are in an environment where it’s imperative to “innovate or perish” and that can overshadow the real reason for innovating in the first place.
- There needs to be a sense of urgency in preparing and transforming – organisations should be looking at “where do you want to play and how do you want to win” when trying to innovate.
- Innovation needs to be aligned with strategy and organisations need to ensure they have:
o The infrastructure in place
o An obligation for leaders to provide purpose and direction
o Measurements for success.
- Culture is a key enabler of innovation and 3 key elements are required to excel:
James concluded a compelling presentation with a final quote:
“Courage without caution is recklessness. Caution without courage is cowardice”
We would like to thank James and Phillip for a thought-provoking visual presentation on a very pertinent topic which is affecting all facets of our modern workplace.
If you would like to find out more about our future Transformation and Change Management Breakfast forums visit our [axr] Business Transformation webpage.