Embrace ______________ to stay competitive

Presentation at Innovation Drift in Vilnius, Lithuania

Transcript

1. Embrace ________ to stay competitive MARCUS CASTENFORS @MCASTENFORS
2. SAPIENTRAZORFISH | @MCASTENFORS How long did it take Oculus Rift to receive a market valuation of $1 billion?
3. SAPIENTRAZORFISH | @MCASTENFORS Average company lifespan on S&P 500 index 1958: 61 years 2012: 18 years
4. SAPIENTRAZORFISH | @MCASTENFORS It’s harder than ever to stay competitive
5. SAPIENTRAZORFISH | @MCASTENFORS Strategic/disruptive IT (e.g. cybersecurity) Competition US compliance/regulatory Operational Financial Talent acquisition Reputational Product/service quality Foreign compliance/regulatory Supply chain International tax structuring Third party Social and environmental Fraud Which of the following risks pose the greatest oversight challenges to your board? Base: 795 Source: PwC 2016 Annual Corporate Directors Survey, October 2016 57% 51% 44% 39% 34% 34% 24% 20% 14% 13% 11% 9% 6% 6% 72%
6. SAPIENTRAZORFISH | @MCASTENFORS How engaged are you at work?
7. SAPIENTRAZORFISH | @MCASTENFORS Source: Gallup State of the Global Workplace report 63% 13% 24% Not engaged Engaged Actively disengaged
8. SAPIENTRAZORFISH | @MCASTENFORS We are unhappy, scared and slow
9. SAPIENTRAZORFISH | @MCASTENFORS What should we do?
10. SAPIENTRAZORFISH | @MCASTENFORS Empathy /ˈɛmpəθi/ the ability to understand and share the feelings of another.
11. SAPIENTRAZORFISH | @MCASTENFORS Empathy to understand your customers Empathy to successfully collaborate with your colleagues
12. SAPIENTRAZORFISH | @MCASTENFORS This will transform everything
13. SAPIENTRAZORFISH | @MCASTENFORS PRINCIPLES Define outcomes Connect around the end-to-end experience 1 2 Optimize for uncertainty 3
14. SAPIENTRAZORFISH | @MCASTENFORS Define outcomes 14 1
15. SAPIENTRAZORFISH | @MCASTENFORS “People don't want to buy a quarter-inch drill, they want a quarter-inch hole” B Y T H E O D O R E L E V I T T
16. SAPIENTRAZORFISH | @MCASTENFORS As customers we want outcomes As businesses we want outcomes
17. SAPIENTRAZORFISH | @MCASTENFORS “What gets measured gets done” B Y T O M P E T E R S
18. SAPIENTRAZORFISH | @MCASTENFORS Orders delivered, not shipped A M A Z O N
19. SAPIENTRAZORFISH | @MCASTENFORS Vast selection Low prices Fast delivery A M A Z O N
20. SAPIENTRAZORFISH | @MCASTENFORS "We always start with the customers and look at all the metrics that matter for the customer.” B Y D I E G O P I A C E N T I N I , S V P I N T E R N A T I O N A L R E T A I L A M A Z O N
21. SAPIENTRAZORFISH | @MCASTENFORS What outcomes do your customers want?
22. SAPIENTRAZORFISH | @MCASTENFORS
23. SAPIENTRAZORFISH | @MCASTENFORS Connect around the end-to-end experience 23 2
24. SAPIENTRAZORFISH | @MCASTENFORS An outcome is a journey
25. SAPIENTRAZORFISH | @MCASTENFORS What does a journey look like when you get a mortgage?
26. SAPIENTRAZORFISH | @MCASTENFORS Now, think about the different parts of an organization that would be involved in making that happen?
27. SAPIENTRAZORFISH | @MCASTENFORS Outcome Marketing IT Operations Customer service Clerk Visits the branch Goes to website Sets up an account Wants to borrow more F R O N T S T A G E B A C K S T A G E
28. SAPIENTRAZORFISH | @MCASTENFORS Service Design
29. SAPIENTRAZORFISH | @MCASTENFORS Product Owner Business Architect Ops CX design lead Compliance Branch Digital technologist Legal Telephony center = cross-functional team
30. SAPIENTRAZORFISH | @MCASTENFORS
31. SAPIENTRAZORFISH | @MCASTENFORS Optimize for uncertainty 31 3
32. SAPIENTRAZORFISH | @MCASTENFORS Telephone: 89 years to reach 150 million Android: 5 years to reach 1 billion A M O U N T O F U S E R S
33. SAPIENTRAZORFISH | @MCASTENFORS We still have the same organizational structure
34. SAPIENTRAZORFISH | @MCASTENFORS It’s time for a change
35. SAPIENTRAZORFISH | @MCASTENFORS Hierarchy Controlled Risk averse T R A D I T I O N A L Autonomous Focused on outcomes Risk taking N E W
36. SAPIENTRAZORFISH | @MCASTENFORS Optimize for certainty T R A D I T I O N A L Optimize for uncertainty N E W
37. SAPIENTRAZORFISH | @MCASTENFORS Make a decision Measure 15 weeks 5 days Make a decision Measure T R A D I T I O N A L N E W
38. SAPIENTRAZORFISH | @MCASTENFORS Agile Lean Startup Theory of Constraints
39. SAPIENTRAZORFISH | @MCASTENFORS
40. SAPIENTRAZORFISH | @MCASTENFORS Define outcomes Connect around the end-to-end experience 1 2 Optimize for uncertainty 3
41. SAPIENTRAZORFISH | @MCASTENFORS You will foster empathy and stay competitive
42. SAPIENTRAZORFISH | @MCASTENFORS Thank you @mcastenfors
43. SAPIENTRAZORFISH | @MCASTENFORS Credits Thanks a lot to Mike Arauz for the inspiration https://goo.gl/Ti6pSg