The agency invited Jim to speak to a group of senior leaders to speak on the issue of what leaders do to innovate during times of significant transition, and the transition of innovation throughout the world.
Keynote Case Study: BASF — A 150-Year Company Was Preparing for What Came Next
A 150th anniversary naturally invites an organization to look backward.
BASF used the moment to look forward.
During its anniversary year, I addressed international petrochemical executives on the transformative trends defining the future of the industry.
The company theme asked a powerful question:
How can you make tomorrow better than today?
That question went directly to the heart of the keynote.
Petrochemicals sit inside an enormous number of industries.
Automotive.
Construction.
Consumer products.
Packaging.
Energy.
Agriculture.
Advanced manufacturing.
When those industries change, the materials and chemical industries supplying them have to change too.
That meant the future of petrochemicals could not be understood only by watching petrochemicals.
It required looking outward.
At new manufacturing technologies.
New materials.
Changing consumer expectations.
New energy systems.
New forms of mobility.
And the accelerating pace of product innovation.
Six themes framed the discussion:
- Materials Innovation. New materials were creating new product and manufacturing possibilities.
- Manufacturing Acceleration. Faster product cycles were placing more pressure on suppliers to innovate quickly.
- Changing End Markets. Automotive, construction, consumer and energy markets were all undergoing significant change.
- Technology Convergence. Scientific and digital advances were increasingly interacting with traditional industrial processes.
- Global Competitive Speed. Competitive advantage was shifting toward organizations able to respond faster to changing markets.
- Continuous Reinvention. Longevity depended on repeatedly adapting a strong industrial foundation to a new future.
The anniversary context made the message especially relevant.
A company does not survive for 150 years by refusing to change.
It survives because generation after generation finds a way to align its capabilities with new markets, new science and new customer needs.
The challenge is to make that adaptability deliberate rather than accidental.
BASF’s history was an asset.
But the future would still have to be earned.
The organizations that last are not those that protect the past. They are those that continually use the past as a platform for the next reinvention.
Keynote Case Study: McKesson — The Healthcare Supply Chain Was Becoming Digital
The healthcare system is not only about medicine.
It is also about the complex infrastructure that moves products, information and services to the people who need them.
That was the context for my work with McKesson.
The engagement focused on the future of digital health and the transformation of the healthcare supply chain.
McKesson sat at the intersection of several fast-moving trends.
Medical science was accelerating.
Patients were becoming more digitally connected.
Pharmacy was changing.
Healthcare information was becoming more real-time.
And distribution systems were being forced to operate with greater visibility, speed and precision.
Six themes framed the discussion:
- Digital Health. Connected technologies were moving more health information into digital workflows.
- Healthcare Distribution. Supply-chain systems were becoming more data-driven and responsive.
- Connected Patients. Consumers were gaining access to more health information and digital tools.
- Pharmacy Transformation. Pharmacy was increasingly becoming part of a wider connected-care ecosystem.
- Real-Time Information. Faster information flows were changing how healthcare organizations coordinate supply and demand.
- Repeat Reinvention. McKesson’s repeated engagement reflected the need to continuously reassess a sector changing on multiple fronts.
The important shift was that supply chains were becoming information systems.
Physical distribution remained essential.
But increasingly, competitive performance depended on the quality and speed of the data surrounding it.
What is needed?
Where?
When?
How quickly?
And with what level of confidence?
Healthcare distribution was becoming increasingly digital because healthcare itself was becoming increasingly digital.
The organizations that understood both the physical and information flow of healthcare would be best positioned for what came next.
We're slow, we're doomed, but we aren't going to do anything about it!
It’s an interesting time for many organizations. There is a wave of business model disruption, new competition, fast paced change, a massive transition in skills and knowledge — not to mention the impact of a massive wave of technology.
That’s often the context for the keynotes that I do; many times over the last 15 years, I’ve been invited in to challenge a global leadership team to how to deal with a fast paced future. Innovation is a key theme, and my job is the wake people up to the trends that will change their industry, careers, and opportunities.
I’ll always work several text message polls into my talks (through PollEverywhere.com) to gauge the mindset of those in the room.
And in the last 18 months, I’ve woven into most of my talks, three key questions:
- do you believe you are capable of dealing with a fast future?
- do you think your business model will survive the next ten years?
- are you prepared to innovate now, to deal with this reality?
I’ve come to this conclusion. Every single audience group has answered “No.” “No”. “No.”
In other words: we’re not ready for a lot of change; we know this change will likely have a devastating impact; but we’re just going to wait a while before we do anything about it!
The thinking, to me, is truly mind-boggling.
Case in point: here’s a recent poll with one recent global leadership meeting that I was asked to open.
The first question: are you ready to deal with a fast future?
Well, not really
Next question: do you think your business model will survive?
Definitely not.
Last question: What are you going to do about it?
Um, we will just wait it out.
I’ve tried this scenario with multiple groups through the last 18 months, and there is a deadly commonality to it.
It’s kind of scary, because it implies to me that a lot of organizations, associations, professions and industries are sleep walking into the future.
We live in fascinating times!
Consumer Goods & Technology Magazine: 2015 Innovation Outlook
I’m thrilled that I’ve again been cover in CG&T Magazine’s annual outlook
. This marks 4 years in a row!
This year my comments are short and sweet – I continue to believe that accelerating change with retail models, products, technology, mobile and just about everything else makes it difficult for organizations to ensure that their capabilities are aligned to their strategies.
Here’s what I wroe for this years piece:
Going into 2015 and beyond, the biggest issue for CG executives will be to think about how they have big holes that they need to fix — and fast.
The challenge is that with this tsunami of change, many companies still aren’t capable of coping, and so many mismatches become painfully clear:
- Strategy mismatch: Are you still trying to solve the social media challenges from 2013, while in 2015 it has shifted to mobile?
- Skills mismatch: What’s your bench strength with all the new technologies flooding the space?
- Cultural mismatch: Are you equipped for speed? Everyone is talking about being agile and lean — but do you find that even with those strategies you are still falling behind?
- Worse yet, your technology mismatch is probably becoming bigger than ever. How are you going to fix these holes?
Here are some key secrets of success in an era of high-velocity change: an accelerated innovation cycle, fuelled by the rapid ingestion of new technologies/methodologies. Work on your internal pipelines to gain a faster time to market, and know how to rapidly re-focus resources for opportunity or threat. All that needs to be done in a time in which volatility is the new normal. A pretty tall order, but it will help you close the mismatches that likely exist.
Article: 5 Things World Class Innovators Do that Others Do Not
I just found this article, which ran on the ERA blog after my keynote on the future of real estate, for their 2013 conference. It’s a good read!
——
5 Things World Class Innovators Do that Others Do Not,
by Tara Reid, from Owning the Fence, ERA Real Estate Blog
Consider this: 65 percent of current preschoolers, kindergartners and first graders will work in a career that does not yet exist. And, if you are working on a degree based on science right now, it is estimated that half of what you learn in your first year will be obsolete by the time you graduate.
That is how fast things are changing in this world and according to Innovation and Trends Expert Jim Carroll; the future belongs to those who are fast. In fact perhaps media mogul Rupert Murdoch puts it best: “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”
During the ERA 2013 International Business Conference Think Tank, Carroll explained that to keep up, you have to get ahead the way that today’s best thinkers and changers do. Here are 5 things world class innovators do that set them apart from the rest.
- Think big and bold. You can view a future trend as a threat or an opportunity. Take it as an opportunity, embrace it as change for the better and prepare to make the trend work for you by thinking beyond the now. How can you make the trend bigger and better? And, how can you help others navigate change? For example, in real estate, keep in mind, according to Carroll, people want a qualified advisor to help them get through the biggest investment of their lifetime. Figure out how to exceed their expectations and you have carved out your niche.
- Check your speed. You have to move quickly to stay in the game. World class innovators constantly up their speed while checking their quality. For example, it took Apple two years to sell two million iPhones; it took them two months to sell two million iPads. It then took them one month to sell one million iPhone 4’s but only one day to sell one million of the upgraded iPhone 4S model. They get faster while they get better.
- Reframe the concept of change. Innovation is about much more than just new products. What is innovation? It is running your business better, growing your business and transforming your business. If you want to be innovative think about how you can use technology to address those three actions.
- Ride generational acceleration. According to Carroll, the next generation thrives on moving things forward. Follow their lead and adapt to new ways of thinking and acting. Half of today’s global population is under the age of 25. Your role is to understand their ideas so that you can manage their capabilities.
- Challenge organizational sclerosis. Ever hear or say the words, “It won’t work,” or “I don’t think I can,” or “It’s too risky?” Such phrases are symptoms of organizational sclerosis, the fear of change. It is important to think big, be fast and transform how you do business so that you do not end up in an innovation rut. When change gets scary, keep this in mind: “Some people see a trend and see a threat. Innovators see the same trend, and see an opportunity.”
With these five actions in mind, turn your next “oh no!” moment into an “a ha!” moment. Take that threat and turn it into an opportunity to grow. The world is not going to stop changing and trends will pop up even more quickly so grab on, hold on tight, and go for it!
GET IN TOUCH
Jim's Facebook page
You'll find Jim's latest videos on Youtube
Mastodon. What's on Jim's mind? Check his feed!
LinkedIn - reach out to Jim for a professional connection!
Flickr! Get inspired! A massive archive of all of Jim's daily inspirational quotes!
Instagram - the home for Jim's motivational mind!