FLP Virtual Knowledge Series
– In recent times the traditional success formula of CPG and Retail companies has been challenged by smaller, often digital-led companies with highly innovative, consumer-centric business models.
– A recent survey of global industry CEOs revealed that innovation is a top-3 priority for almost all of them but BCGs 2021 Most Innovative Company report revealed that the majority of companies have average innovation ‘readiness’.
– Most of the innovation of recent years would be more characterized as ‘renovation’ (i.e. incremental) rather than breakthrough innovation.
– Sharing BCG perspectives on how companies should harness the power of imagination (‘the ability to create a mental model of something that does not exist yet’) to identify major new opportunities, rethink their businesses and discover new paths to breakthrough innovation and growth.
– In today’s business, the capacity to move beyond cookie-cutter models and copies of what others are doing is critical. Imagination is one of the least understood but most crucial ingredients of success. It is what makes the difference between an incremental change and the kinds of pivots and paradigm shifts that are essential to transformation
– What prevents companies from thinking in and creating ‘new boxes’
– A diagnosis: test how imaginative your company currently is
– How ‘deep tech’ will have a huge impact on innovation and every future business model
- – The path to imaginative innovation and growth: o The seduction: how to open yourself to surprises
The idea: how to imagine the future and generate big ideas
The collision: how to rethink your idea based on real-world feedback
The epidemic: how to spread an evolving idea to others
The new ordinary: how to turn your novel idea into an accepted reality
The encore: how to repeat the process and institutionalize imagination as a capability
- – The ‘so what’: what you can ‘take home’ and start actioning right away
- – Short presentations
– Imagination games: interactive idea-generation
– Team break-outs
– Discussion and debate
Martin Reeves, Managing Director & Senior Partner
Alan Iny, Managing Director & Partner