Fresh from my keynote in Orlando this week, I’ve come across a blog post from someone who attended, and saw my early-Monday keynote – “‘Breakthrough performers’ and ‘pervasive connectivity’: Notes from the CGT Business & Technology Leadership Conference.”
You can read the full post by Sean Rollings, Vice President, Product Marketing over at the E2open blog, or read an extract below.
In the room were senior executives from many of the largest consumer product and food companies in the world; indeed, I was dazzled from the presentation of a senior executive from PepsiCo who took to the stage right after me with his observations on what is happening in the consumer space.
The essence of my message in Orlando was modelled on the themes found in these two blog posts:
- “What do world class innovators do that others don’t do?”
- “Food industry trends 2011: Report from a keynote”
I can tell you that these two pages are among the top-10 most heavily trafficked on my Web site, and so obviously there are a lot of senior executives in the food and consumer products sector who realize that when it comes to innovation, one of their key goals must be, how do we speed things up to deal with the reality of fast-paced consumer, technological, market, product, and global change.
“Breakthrough performers” and “pervasive connectivity”: Notes from the CGT Business & Technology Leadership Conference
Sean Rollings, Vice President, Product Marketing, E2open
I made my way to the Sunshine State this week for the Consumer Goods Business & Technology Leadership Conference in Orlando. The turnout is impressive, with technology and supply chain professionals from all the major players in the CPG space (plus a number of up-and-comers). And while the keynote sessions and panel discussions cover a gamut of topics, everyone is really here for the same thing: learning and collaborating on the “what’s next” for technology and the consumer goods business.
Leading international author and “futurist,” Jim Carroll, delivered the keynote address, capturing the audience’s attention with some mind-blowing stats on the rapid pace of change and innovation in the technology space. According to Carroll, recent research indicates that 65 percent of current preschool students will work in a job that does not yet exist. Along the same lines, 50 percent of the information taught to first-year Science undergraduates will be obsolete by the time they graduate.
The business-related statistics were no less shocking. For example, roughly 60 percent of Apple’s revenue is currently generated by products that are less than four years old. The rate of innovation is accelerating, big time. And from Carroll’s perspective (and the evidence is convincing), the only way to stay competitive in today’s marketplace is to embrace the current onslaught of change and innovation—and run with it!
In keeping with this theme, Carroll shared a compelling piece of research from GE innovation consultants: Of those companies in existence during the economic recessions of the 70s, 80s, 90s, and our most recent “Great Recession”—on average—60 percent survived, 30 percent died, and 10 percent became breakthrough performers. How did this top-10 percent do it? According to Carroll, these companies succeeded because they invested in world-class innovation while everyone else was retrenching. For the “breakthrough performers” of our most recent recession, this innovation has been largely focused on pervasive connectivity—everyone connected to everyone, regardless of geographic location or technical sophistication.
The GE study that I refer is a theme that I use in many presentations — you can catch a glimpse of how I put the reality of innovating despite economic uncertainty in this video clip from a keynote in San Antonio, Texas, earlier this year.