The rise of platform business models and the shift to operating within new ecosystems of value rather than in linear value chains means that, for many organisations, their capability must evolve beyond designing and delivering a competitive customer experience, to designing and delivering a compelling experience for all ecosystem participants - consumers, producers and partners.
We're living in turbulent times. Prevailing business ideologies are being called into question; people are expecting more from organisations; and we're in the early stages of a fourth industrial revolution. Only organisations that develop a supportive culture and systemic approach to continuous innovation will survive.
Biotechnologies are set to transform not only healthcare but the value chains of companies in virtually every sector. They will determine what we eat, put on our skin, wear, how we build our physical infrastructure and power our every activity. Incumbents should brace for for the new generation of bio-native start-ups.
The great success of design thinking has been to instil, in corporate innovation teams and entrepreneurial start-ups alike, the need to consider the triumvirate of Desirability, Feasibility and Viability. But an additional focus on Equitability will be essential to succeeding in the operating environment of the future.
Much has been written about the need to review the capitalist models and the need to shift to ‘profit with purpose’ models that create ‘shared value’. Yet the rationale for creating shared value (CSV) is sometimes poorly understood, and it's important to distinguish it from corporate social responsibility (CSR).