RETHINK Business by Peter Fisk
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Peter Fisk Founder of GeniusWorks, a uthor of “ Gamechangers ” Visiting Professor of Strategy, Innovation and Marketing, IE Business School Email: [email protected] Twitter: @ geniusworks RETHINK BUSINESS
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Transcript of RETHINK Business by Peter Fisk
Peter Fisk
Founder of GeniusWorks, author of “Gamechangers”
Visiting Professor of Strategy, Innovation and Marketing, IE Business School
Email: [email protected] Twitter: @geniusworks
RETHINKBUSINESS
RESET YOUR DIRECTION
REIMAGINE YOUR FUTURE
REENERGISE YOUR BUSINESS
REIMAGINE YOUR FUTURE
Volatile
Uncertain
Complex
Ambiguous
+genius
Vibrant
Unreal
Crazy
Astounding
Worldchanging decade
2010
Pop 6.9Bn
GDP $63T
G7
2020
Pop 7.7Bn
GDP $90T
E7
Globalisation
Turbulent markets
New economies
New business models
Biotech
Internet of things
Clean energy
Nano tech
Healthcare
Resource shortages
Transparency
Travel
Climate change
Urbanisation
Bio diversity
Population growth
Agelessness
Creative class
Digital natives
Women
Mobility
Open education
Cloud intelligence
Entrepreneurship
Sustainable living
Culture fusion
Localness
Storytelling
Wellbeing
Happiness
Caring
Tribal
Authenticity
Collaboration
Lifetime learning
Empowerment
Building blocks to the future
Guiyang Circle
Guiyang
China106.6° E, 26.6° N
4100km radius
Most of the worldlives here …
East
Small
West
Big
+genius
ProfitVolume
ImaginationCapability
+genius
CollaborativeIndependent
DisruptingEvolving
Customer
Pull
Relevance
Business
Push
Average
+genius
Every business must change
Speedboats beat
fast and focused
supertankers
Every minute
The 99 cent business model
Winning in a digital world …
The $900 business model
Digitally enabled real world
We live in a time of
‘awesomeness’
Think different
EMOTIONAL
INTUITIVE
CONNECTED
RATIONAL
ANALYTICAL
FOCUSED
What’s your “tae Kuk”?
LEFT BRAIN + RIGHT BRAIN
Business
narrow
view
Your
narrow
view
Customer
broader
view
You Customer
Seeing things differently
Thinking different things
© Peter Fisk 2014
theGeniusWorks.com
The customer’s world
© GeniusWorks 2013
The customer agenda
Gen
XGen
YGen
Z
Born
1965-1980
50 million
Born
1980-1995
75 million
Born
1995-2010
100 million
Influenced by fall of Berlin
Wall, capitalism, Live Aid
Open-minded, practical and
pragmatic
Self-reliant, reject the rules,
what’s in it for me
Career professionals, but also
seek work-life “balance”
Computer adopters, emailers,
but like face to face
Influenced by 9/11, reality TV,
and social media
Ethnically diverse, realistic
and optimistic
Self-inventive, rewrite the
rules, make the most of life
Seek freedom and flexibility,
work “with” not for company
Digital natives, big texters and
social media users
Influenced by economic and
climate crisis, Arab spring
Global minded, caring and
opportunistic
Collective, don’t know the
rules, “in it” together
Seek security and stability,
multi-takers, project workers
Digitally immersed, driven by
mobile and crowd behaviour
Changing attitudes
© Peter Fisk 2014
theGeniusWorks.com
Business
narrow
view
Your
narrow
view
Customer
broader
view
You Customer
Seeing things differently
Thinking different things
IT support is boring, isn’t it?
For the customer, its an emergency
Business
narrow
view
Your
narrow
view
Customer
broader
view
You Customer
Seeing things differently
Thinking different things
© Peter Fisk 2014
theGeniusWorks.com
Time to think bigger
Google <X> Moonshot factory
“Why focus on 10%
… why not 10 x better?”
RESET YOUR DIRECTION
REIMAGINE YOUR FUTURE
Don’t just play the game …
Change the game
© Peter Fisk 2013
Gamechangers.pro
© Peter Fisk 2014
Gamechangers.pro
16 ways to innovate your business
Brand
innovation
Purpose
innovation
Strategy
innovation
Concept
innovation
Structural
innovation
Process
innovation
Resource
innovation
Financial
innovation
Market
innovation
Customer
innovation
Experience
innovation
Relational
innovation
Pricing
innovation
Channel
innovation
Service
innovation
Product
innovation
es
1. 23 & Me
2. Aravind
3. Epocrates
4. Genentech
5. Intuitive Surgical
6. Narayana H
7. Organova
8. PatientsLikeMe
9. Scanadu
10. Second Sight
1. Amazon
2. Aussie Farmers
3. Etsy
4. Fab
5. Greenbox
6. Le Pain Q
7. Positive Luxury
8. Trader Joe’s
9. ZaoZao
10. Zilok
1. Apple
2. Beauty’in
3. Godrej
4. Lego
5. Method
6. Natura
7. Nike+
8. Oculus Rift
9. Pebble
10. Renova
1. Alibaba
2. ARM
3. Bharti Airtel
4. Giff Gaff
5. Google X
6. Rackspace
7. Raspberry Pi
8. Samsung
9. Tencent QQ
10. Xiaomi
1. Aeromobil
2. Air Asia
3. AirBNB
4. Emirates
5. Kulula
6. Moveo
7. Pipistrel
8. RedBus
9. Virgin Galactic
10. Zipcars
1. 3DHubs
2. Corning
3. DP World
4. Dyson
5. Embraer
6. Local Motors
7. Space X
8. Syngenta
9. Tata
10. Tesla
1. Aeroshots
2. Gram-Danone
3. Graze
4. Isis Organic
5. Juan Valdez
6. LA Organic
7. Moa Beer
8. Nespresso
9. Yeni Reki
10. Zespri
1. Ashmei
2. Beats
3. Desigual
4. Gilan
5. Indetix
6. Patagonia
7. Rapha
8. Shang Xai
9. Threadless
10. Tom’s
1. Alior Sync
2. La Caixa
3. Fidor
4. First National
5. Itan Unibanco
6. Moven
7. M-Pesa
8. Square
9. Umpqau
10. Zidisha
1. Al Jazeera
2. Coursera
3. Future
4. Pixar
5. Pledge Music
6. Red Bull
7. Rovio
8. Spotify
9. Ushahida
10. Wordpress
futureproduct futurefashion futurefoodfuturestore
futurehealth futuretech futuremakersfuturebank
futuretravel
N/S American brands European brands African/Arab brands Asian/Oceania brands
futuremedia
1. Ashoka
2. AzuriTech
3. Graal Bio
4. IBM
5. IDEO
6. Kickstarter
7. Li & Fung
8. Live Nation
9. Salesforce
10. Y Combinator
1. FC Barcelona
2. Bitcoin
3. Bhutan
4. The Elders
5. Lovemarks
6. Oregon Project
7. ParkRun
8. WWF
9. Zoe Suggs
10. You
futureservice futurebrands
The Global Gamechangers.pro
© Peter Fisk 2014
Los Altos, USA05:30
23&Me
DNA Profile $99
Anne Wojcicki
Ferguson, Texas07:30
Tesla
500km, zero carbon
Elon Musk
Ferguson, Texas07:30
Ferguson, Texas07:30
Ferguson, Texas07:30
Bogota, Colombia07:30
Juan Valdez cafe
Coffee Grower cafes
Luis Genaro Munoz
Bogota, Colombia07:30
Moon Bay, Barbados08:30
AirBNB
Collaborative consumption
Brian cheskey
New York, USA08:30
Moven
Making money simple
Brett King
Sao Paulo, Brazil09:30
Beauty’in
“Almetics”
Cristiana Arcangeli
Sao Paulo, Brazil09:30
Accra, Ghana12:30
Azuri Tech
Pay as you go power
Simon Garth
Cambridge, UK13:30
Raspberry Pi
£20 circuit boards
Eden Upton
Paris, France14:30
Aerolife
Vapour food, zero cal
Prof David Edwards
Berlin, Germany14:30
Zipcars
Carshare per minute
Antje danielson
Beirut, Lebanon15:30
Mayrig Restaurants
Armenian Culture
Aline Kamakian
Mumbai, India18:30
Redbus
Online bus system
Phanindra Sama
Shanghai, China20:30
Alibaba ecosystem
Digital marketplace
Jack Ma
Kuala Lumpur, Malaysia20:30
Air Asia
New middle travel
Tony Fernandez
Change
Whyenabling
Change the game …
collaborative
intelligent
audacious
networked
audacious
intelligent
collaborative
networked
Change
Whyenabling
Renova
Aeromobil
RESET YOUR DIRECTION
REIMAGINE YOUR FUTURE
REENERGISE YOUR BUSINESS
Are you ready to change your world?
© Peter Fisk 2014
theGeniusWorks.com
Inspire
Focus
Envision
Innovate
Deliver
5 practical approaches to make happen
Create the future in your
own vision, not in the
shadow of others … guided
by an inspiring purpose
1. Envision … Change your future
Inspire
Focus
Envision
Innovate
Deliver
Future
Future-back vision
Today
© Peter Fisk 2014
theGeniusWorks.com
Why would they
recommend us
to others?
Co
mp
ara
tive
Inspiring purpose
© Peter Fisk 2014
theGeniusWorks.com
Strategy is about making
choices … to deliver the
best performance for
today and tomorrow
2. Focus … Change your strategy
Inspire
Focus
Envision
Innovate
Deliver
Customers
Countries
Capabilities
Categories
market mapping
© Peter Fisk 2014
theGeniusWorks.com
Coca Cola
Bulk water
Retail water
Juice drinksReady-to-drink
tea
Sports drinks
Juices and nectars
Carbonated
Soft-drinks
Ready-to-drink
coffee
The Coca-Cola Company
Other brands
Bubble size reflects estimated
global beverage profits
Industry unit margins ($)
5 y
ea
r a
ve
rag
e g
row
th r
ate
Juices and
nectars
Mineral
water
RTD
coffee
Purified
water
Fruit
drinks
RTD
tea
Sports
drinks
Energy
drinks
Bulk water Powders
1. Build capability
and accelerate
2. Grow margins
3. Participate selectively
4. Approach differently
5. De-emphasise
Market attractiveness
Str
ate
gic
fit
Secure competitive
advantage
in chosen markets
Create an approach
to do this profitably
and in a sustainable way.
Focus resources
on the most
attractive markets.
Business strategy is about making choices
Where
should I
focus?
What
makes me
different?
How
will we
win?
strategic choices
© Peter Fisk 2014
theGeniusWorks.com
Innovate the whole
business, not products …
from business model to
customer experience
3. Innovate … Change your business
Inspire
Focus
Envision
Innovate
Deliver
Banks
Example:
Long Queues
Silent
Cashiers
Bars
Finance
Complicated
Transactions
Boring
© GeniusWorks 2014. All rights reserved.
creative fusions
Banks
Example:
Long Queues
Silent
Cashiers
Bars
Finance
Complicated
Transactions
Boring
Take a seat
Funky music
Great service
Openness
About lifestyle
Made easy
Community build
Fun
© GeniusWorks 2014. All rights reserved.
creative fusions
Banks
Example:
Caffe Latte
Funky
Concierge
Sofas
Life
Colourful
Community
Fun
Long Queues
Silent
Cashiers
Bars
Finance
Complicated
Transactions
Boring
Take a seat
Funky music
Great service
Openness
About lifestyle
Made easy
Community build
Fun
© GeniusWorks 2014. All rights reserved.
creative fusions
Business model
Finance
Networking
2. Networkingenterprise’s structure/value chain
1. Business modelhow the enterprise makes money
Channel
Delivery
Brand Customer experience
10. Customer experience how
you create an overall
experience for customers
9. Brandhow you express your offering’s benefit to customers
Core process
Process
Enabling process
3. Enabling processassembled capabilities
4. Core processproprietary processes that add value
6. Product systemextended system that surrounds an offering
Product performance
Offering
Product system
Service
7. Servicehow you service your customers
5. Product performancebasic features, performance and functionality
8. Channelhow you connect your offerings to your customers
Business innovation
Volume of innovation effortsLast 10 years
Business model
Finance
Networking Channel
Delivery
Brand Customer experience
Core process
Process
Enabling process
Product performance
Offering
Product system
Service
Business innovation
Business model
Finance
Networking Channel
Delivery
Brand Customer experience
Core process
Process
Enabling process
Product performance
Offering
Product system
Service
Cumulative value creationLast 10 years
Business innovation
business model
Make and
distribute
business model
eg CocaCola
Microsoft
Spectrum
retail
business model
eg Amazon
Marks & Spencer
Make and
sell direct
business model
eg BMW,
HSBC
Niche
retail
business model
eg ToysRUs,
Wiggle
License to
make
business model
eg ARM,
Ed Hardy
Curated
retail
business model
eg Fab,
Positive Luxury
Membership
club
business model
eg Costco,
Quintessentially
Crowdfunded
ventures
business model
eg Kickstarter,
Zidisha
Opensourced
community
business model
eg RedHat,
MySQL
Subscription
payment
business model
eg FT.com,
Graze
Buyer and seller
marketplace
business model
eg Etsy,
NYSE
Micro
payments
business model
eg Flattr
Grameen Danone
Collaborative
consumption
business model
eg Buzzcar,
Regus
Regular
Replacement
business model
eg Gillette,
Nespresso
Branded
Consortia
business model
eg Cisco,
Spar
Advertising or
Sponsorship
business model
eg Google,
Metro Newspapers
Listed or
Promoted
business model
eg Monster
Network
builders
business model
eg Hotmail,
Demand
then Made
business model
eg ZaoZao,
Threadless
Auction
retail
business model
eg eBay,
Sotheby
Knowledge
and time
business model
eg McKinsey,
Harvard
Franchised
retail
business model
eg McDonalds,
Subway
Certification and
endorsement
business model
eg ISO,
Verisign
Remainder
retail
business model
Eg Saks,
Vente Privee
Multulevel
marketing
business model
eg Tupperware,
Natura
Group
buying
business model
eg Groupon,
Huddlebuy
Reverse
auction
business model
eg Priceline
Freemarkets
Shared
rental
business model
eg Zilok,
Hilton
Tradeable
currency
business model
eg Bitcoin
Air Miles
Freemium
pay within
business model
eg Angry Bird,
Coursera
Transaction
facilitator
business model
eg Paypal,
Visa
Pay as
you go
business model
eg AzuriTech
Techshop
Dynamic
pricing
business model
eg Expedia,
Uber
Reputation
builders
business model
eg Tripadvisor,
PaywithaTweet
Customer
data
business model
eg Facebook,
23andMe
Non-profit
business
business model
eg Oxfam
Wikipedia
Maker models Channel models Crowd models Payment models Exchange models Asset models
36 business models
Aligning the business to
engage employees and
customers … in achieving
the inspiring purpose
4. Deliver … Change your impact
Inspire
Focus
Envision
Innovate
Deliver
strategic horizons
Value
creation
12 months 24 months 36 months
Horizon 1
Outputs
Horizon 2
Outputs
Horizon 3
Outputs
Horizon 3
Developments
Horizon 2
Developments
Horizon 1
Developments
© Peter Fisk 2014
theGeniusWorks.com
Who?
What?
Why?
How much?
What not?
The target customer
(Who is the target segment)
The customer context
(What they want to achieve)
The distinctive benefits
(How you help them do it better)
The relative price position
(% more or less than
alternatives)
The customer trade offs
(What they could get else where)
+
+
-
-
Customer value proposition
Value to customer =
customer-centric propositions
© Peter Fisk 2014
theGeniusWorks.com
customer-centric propositions
© Peter Fisk 2014
theGeniusWorks.com
+genius
+genius
Leadership amplifies the
potential of others …
individuals and the
business to achieve more
5. Inspire … Change your people
Inspire
Focus
Envision
Innovate
Deliver
sustained value creation
Company Location Sector TSR Market Value
1. http://i0.wp.com/www.biznews.com/wp-content/uploads/2014/01/2014-01-
14T093932Z_616010080_GM1EA1E1CXX01_RTRMADP_3_MARKETS-GLOBAL.jpg USA
Biopharma 166.3% $7.8bn
2. GungHo Entertainment Japan Gaming 138.5% $8.3bn
3. Galaxy Entertainment Hong Kong Casinos 130.9% $37.9bn
4. Jazz Pharmaceuticals Ireland Biopharma 130.9% $7.3bn
5. Avis Budget USA Travel 125.1% $4.3bn
6. Great Wall Motors China Auto 109.0% $16.8bn
7. Hexpol Sweden Chemicals 101.3% $2.6bn
8. Sirius XM Radio USA Media 96.9% $21.4bn
9. Plastic Omnium France Auto parts 95.6% $4.1bn
10. Brilliance China Hong Kong Automotive 94.6% $8.2bn
(Selected other companies)
Tencent China Media 58.7% $117.6bn
Amazon USA Retail 50.7% $182.5bn
Apple USA Technology 46.7% $500.7bn
Volkswagen Germany Auto 43.7% $130.8bn
Sources: S&P, Thomson Reuters, Bloomberg, BCG
TSR = 5 year total shareholder return (shares and dividends), 2009-2013
Market values as at 31 December 2013.
© GeniusWorks 2014. All rights reserved.
Actual profits of previous years
Estimated profits of future years
Adjusted profits of future years
(discounted for uncertainty)
Economic “value” is the sum
of the likely future profits
(more accurately, we consider
the “economic” profit, which
takes into the cost of capital)
This
year
Future
years
Previous
years
sustained value creation
© Peter Fisk 2014
theGeniusWorks.com
NIKE
Catalyst
Control
Coach
Connector Communicator
Command
Hierarchical leaders
worked in a commoditised
production economy
Collaborative
Leaders
succeed in an
networked
ideas economy
2C to 4C leadership
© Peter Fisk 2014
theGeniusWorks.com© Peter Fisk 2014
theGeniusWorks.com
Acting
with speed
and agility
Connecting
ideas and
people
Passion to
make life
better
Having an
audacious
attitude
Shaping
your own
vision
Making
sense of
change
Persisting
to make it
happen
© Peter Fisk 2014
Gamechangers.pro
Inspire
Focus
Envision
Innovate
Deliver
Create the future in
your own vision
PETER FISKis a bestselling author, inspirational keynote speaker and expert consultant in helping leaders
to develop innovative strategies for business and brands.
He is Professor of Strategy, Innovation and Marketing at IE Business School, one of the world’s
top ranked business schools, and leads his own company, GeniusWorks, a boutique
consulting firm, helping clients around the world to develop more innovative business and
brand strategies. He features on the Thinkers 50 “Guru Radar” as one of the best new
business thinkers.
Having trained as a nuclear physicist, Peter moved to managing brands like Concorde at
British Airways, helping Microsoft to adopt a value-based marketing model, and Virgin to
launch into new markets. He has worked in every sector and region of the world. As CEO of
the world's largest marketing organisation, the Chartered Institute of Marketing, he became a
global authority on what's best and next in business and markets.
Finding his own space, he founded GeniusWorks, with offices in London and Istanbul. He now
works with the leaders of businesses - as diverse as Aeroflot and Coca Cola, DSM and Mars,
Philosophy and Red Bull, Sabre and Santander, Tata and Virgin, Visa and Vodafone - to think
bigger and smarter, develop innovative strategies, bolder brands, and accelerate growth.
Peter’s best-selling book "Marketing Genius" explores the left and right-brain challenges of
success, and is translated into 35 languages. It was followed by five others – “Business
Genius” on leadership and strategy, “Customer Genius” on customers and experiences,
“People Planet Profit” on sustainable innovation - and most recently "Creative Genius"
defining what it takes to be Leonardo da Vinci in the 21 Century.
His new book "Gamechangers ... Are you ready to change the world?" is published in late
2014, based on extensive research into the 120 companies who are shaking up markets, and
making sense of how they innovate and win. It explores the challenges of new markets,
changing customers, brand building, digital media, new business models, inspiring
leadership and positive impact.
Peter was described by Business Strategy Journal as "one of the best new business
thinkers". He is thoughtful and practical, combining high-energy keynotes with high-impact
workshops. Each one is uniquely designed for the specific audience, their issues and
aspirations. Helping people to find their own space, to be leaders of change - to be bold,
brave and brilliant.
Find out more
Email: [email protected]
Phone: +44 7834483830
Twitter: @geniusworks
Website: www.theGeniusWorks.com
Next Book: www.Gamechangers.pro
Gamechanging strategies
Collaborative discovery
Possibility focused
Leadership teams
3 intensive days
We develop the right approach for your business, working
collaboratively to achieve your objectives better, faster.
We combine a wide range of processes and tools,
insights and ideas, people and partners
Innovative solutions
Deep insights, big ideas
Customer experiences
High energy workshops
8-12 day projects
Brand blueprinting
Portfolio and architecture
Essence and propositions
Experience delivery
15-75 day projects
Engaging your people in a future vision … developing a new
business strategy … driving creativity and innovation
… developing a new brand … solving a complex
problem fast … building your team
ACCELERATING GROWTH … strategy, brand and innovation consulting
www.theGeniusWorks.com
DEVELOPING PEOPLE … seeing things differently, thinking different things
www.theGeniusWorks.com
Email: [email protected]
Website: www.theGeniusWorks.com
New book: www.Gamechangers.pro
Twitter: @geniusworks
