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InnoVits - Aiesec 29 ottobre 2014

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InnoVits - Aiesec 29 ottobre 2014

  1. 1. Startups and large companies. What large companies can learn from the working culture and methods of startups and why you need to navigate through the two realities along your career 29 ottobre 2014 Roberto Sapio Stefano Mizio
  2. 2. Future Work Skills 2020 2
  3. 3. Understading of both cultures Large companies and Startups Different Janus two-faced Perspectives
  4. 4. I started my career as a startupper… Startupper MBA Innovits Country Sales manager in a large company Roberto
  5. 5. I started my career in a fast growing company Vodafone Omnitel… MBA Silicon Valley Startup Innovits Stefano …long time ago Senior Consulting
  6. 6. VUCA
  7. 7. Business Models have always lasted a long time P. Hobcraft
  8. 8. Startup Definition Steve Blank
  9. 9. What does a business model mean?
  10. 10. Here ... • “A business model is simply the ‘way of doing business’ that a firm has chosen: (Davenport, T. H., M. Leibold and S. Voelpel (2006). Strategic Management in the Innovation Economy. Publicis Wiley.) • “The business model is a company’s answer to the question of how to make money in its chosen business. It describes, “…as a system, how the pieces of a business fit together” (Magretta, J. (2002). "Why Business Models Matter." Harvard Business Review 80(5) May: 86-92.) • A business Model is the the story of how value is created, delivered, and captured.
  11. 11. Can you describe your Business Model? Maybe not…because it has been in place since the business was started… It is taken for granted! Stability
  12. 12. Are you aware of it? “In the twenty-first century business leaders are unlikely to manage a single business model for an entire career”. S.. Kaplan "Business models are not meant to be static. In the world we live in today, you have to adapt and change. One of my fears is being this big, slow, constipated, bureaucratic company that's happy with its success. That will wind up being your death in the end." Nike CEO
  13. 13. Blockbuster Blockbuster was netflixed!
  14. 14. Netflix, netflixed Verb: cause disruption or turmoil to an existing business model 2.To destroy a previously successful business model 3.To displace the way value is currently created, delivered, and captured 4.To be disrupeted, destroyed, or displaced by new business model. S. Kaplan
  15. 15. David versus Goliath Senior management were so busy pedaling the bicycle of their current business model they didn’t think about and experiment with potential new ones.
  16. 16. Do you agree? Too big to produce game-changing inventions? innovate?
  17. 17. Uncertainty Ratio = Assumptions/Facts Entrepreneurial management could be more important than traditional management…
  18. 18. What if your best friend has a great idea… Instead of purchasing designer dresses, women might prefer the option of renting designer dresses online for special occasion. What would you advise?? “Write a Business Plan” Customer need Product&Service Size of the market Revenue&Profit based on projections of: pricing Example by Nathan Flurr costs Unit volume growth Anything else?
  19. 19. Or … You can suggest to set up an experiment to answer some “Key questions” Will middle – to – upper class young women rent a designer if it is available at one-tenth the retail price?? Will women who rent dresses return them in good condition?? Or…Would women rent dresses they couldn’t try on?? Example by Nathan Flurr
  20. 20. So … •You can borrow or bought 100 dresses from designers; • rent a location; advertise around your campus and invite young women and test your Hypothesis This is exactly what happend The experiment answerd the first two questions This experiment resolved some of uncertainty reflected in the two questions it was designed to answer. Example by Nathan Flurr
  21. 21. “its inventory dressed 85 percent of the ladies who attended President Obama’s second inauguration” Example by Nathan Flurr
  22. 22. Performance Engine Traditional management theory certain type of problem: attempting to optimize under conditions of relative certainty
  23. 23. Houston we have a problem New business ideas –outside and inside organizations – are characterized by a different type of conditions: uncertainty
  24. 24. The right style of management How can we lower costs by 5%? Will people buy products over the internet? (Amazon) by Nathan Flurr
  25. 25. A riddle Alfred Sloan General Motors Billy Durant Founder of General Motors
  26. 26. The best you can do is guess and you may be wrong… Guess Guess Untested hypotheses Guess Guess Guess Guess Guess Chief Experimenter vs Chief Decision Maker Guess Guess Business Model Canvas by A. Osterlwalder
  27. 27. How and Where decisions are made “…you know how big companies make decisions: they tend to rely on politics, Powerpoint and persuasion.” Tim Cook - Intuit
  28. 28. Let’s consider this case You have to choose between two investement proposals: • a team of young entrepreneurs hoping to bring word-of-mouth marketing to China (team A) • Seasoned team inside large company looking to tap into a growing segment adjacent to its current business (team B). Team A • They forged their idea in the “white hot heat” of the market. • Many assumptions that remained were grounded in the Real World of Experience. Team B • They forged their idea in the lights of the conference room. • The plan was based on assumptions the team didn’t even realized it was making. By A. Scott D. Anthony
  29. 29. Team A got founded Why? By A. Scott D. Anthony
  30. 30. Team A fits the right “process to make decisions” Team A Team B • They had spent significant time in the market pitching their idea to potencial corporate customers. • They simply hadn’t done the fieldwork. •The proposal underestimated how unique the value proposition was compared with offerings from competitors/startups. The Ratio of the time spent preparing for and attending internal meeting to the time spent in the market < 1:3 Experiments By A. Scott D. Anthony
  31. 31. A new strategy for entrepreneurship in the 21st corporation • forming “leap of faith” assumptions; • rapid testing those assumptions through experiments; • letting the data make the decisions. What’s the fastest way to get an experiment to test that idea? Vs. traditional approach (build and deliver) Steve Blank
  32. 32. Startup and established company “In God we trust, all others bring data.” - W. Edwards Deming Ongoing operation (90% data, 10% unknowns): central focus is to execute the plan. Innovation initiative (10% data, 90% unknown): the plan is a hypothesis. There is comfort in Data ☺
  33. 33. Leaps of faith assumptions The Value Hypothesis The Growth Hypothesis The Minimum Viable Product Eric Ries
  34. 34. We have a set of management practices and theory
  35. 35. Customer Development Model or How we search for the business Model Search Execution Pivot Learning and Discovering Design experiments, start listening • there are no fact inside your building • testing your hypotheses outside the building • no business plan survives first contact with customer Steve Blank
  36. 36. Core Principles: scientific method By S. Blank
  37. 37. The two worlds are coming together
  38. 38. Implications for Big Companies…
  39. 39. 21st organizations
  40. 40. Established Companies hard-to-replicate advantages over start-ups Entrepreneurial approach/method Experimentation/ get out of the building : diagnostic camps to identify potential patients or engaging in customer discovery Business Model Validation Open minded Observation Humility Unique capabilities Partner relationships Strong Brand Reputation: local doctors/ Regulatory approval/… “Last mile” distribution channels Process and internal resources: design, staffing and execute pilots and expanding programs Recombining existing capabilities
  41. 41. Break all the rules? You are the Innovation leader and just joined the company. You live the “ startup garage” culture The CEO told you : “guy, we must innovate! What do you do?
  42. 42. Again, Break all the rules? Ok, Hero, What do you do? You can say: we , the innovators, are a blessed a superior lot They can say: you seem to think you are superior, you get all the glory,…
  43. 43. No custom organizational model in place Ongoing Operation Innovation Strategy Organizing & Planning Execution Committing to an Innovative Idea Making Innovation Happen V. Govindarajan – C. Trimble : The other side od Innovation Something missing Agile approach? What kind of relationships? Skills? Operating rythym? ? “Great idea! Go make it happen” Trap: using existing processes
  44. 44. Organizing an innovation initiative Company Performance Engine Shared Staff Dedicated Team Partenrship Intrapreneurship Startup – acqui-hiring V. Govindarajan – C. Trimble : The other side od Innovation
  45. 45. Intrapreneurship/Corporate Entrepreneuship Intrapreneurship can be defined as using entrepreneurial skills without taking on the risks or accountability associated with starting your own business. Instead, intrapreneurs are employees in larger organizations, who act as entrepreneurs while having the resources and capabilities of the larger firm to draw upon Corporate Entrepreneurship: is the process by which individuals inside organizations pursue opportunities without regard to the resources they currently control (Stevenson)
  46. 46. What are the challenges of partnership?? List Competition with Performance Engine leaders for scarse resources The divided attentions of the guys in the P. Engine you need Disharmony in the partnership Remember: one person against the system is an extraordinarily bad bet
  47. 47. Managing Diversity Dedicated Team (Startup) Performance Engine Conflicts must be anticipated, mitigated or neutralized
  48. 48. Summarizing… •Organizations need more “innovation” but don’t know how to do it. • Established companies are Performance Engine with an “ efficiency uber alles” culture. •A new set of methodologies are emerging from startups (lean startup, customer development, agile approach). • Reverse mentoring is taking place (millenials – digital native). • Large organizations need new perspective ( startup or intrapreneurship).
  49. 49. The linear career path is long gone Having experience within corporates and startups can give you different perspectives and methods to manage uncertainty and your personel career.
  50. 50. Bridge Building
  51. 51. Innovits is committed to bridge the gap! A BRIDGE BEETWEEN TWO CULTURES EXCHANGE COLLABORATION STARTUP MANAGEMENT InnoVits is a non-for-profit organization who is contributing to create an Entrepreneurial, Innovation-Based Economy fostering startup methodologies and contaminating traditional management practices and culture.
  52. 52. A new Breed of manager Organizations need a structure and a corresponding culture where accelerated change is the new normal. It requires an environment, a strategy in which experimentation and pioneering is the most common thing to do in order to be able to innovate.
  53. 53. This talk... Innovation begins with your look at the world By Frits Oukes Illustration from the film Bakara 1992 It’s a matter of perspective