Bojan Dimic’s Post

Stagnant growth? Time to unleash your “Imagination Machine”. Growth fuels long-term value. But this Harvard Business Review article positions that the old playbook for increasing sales is failing, due to increasing cost of goods, geopolitical and environmental tensions, shaky supply chains… It proposes that companies need to unleash their imagination to create new and innovative products and services by: 📌Embracing anomalies: New propositions should go through challenging go / no-go sessions. And more often than not will not pass. But be open to the learnings and surprises that result. Use them to spark new thoughts for next time 📌Treating assumptions as choices: Reimagine your potential market. Explore "what ifs" to break free from limitations. You will be facing disruptive competition from nontraditional players in your market. Why aren’t you also understanding where you could expand into and disrupt? 📌Colliding ideas with reality: Constantly engage with consumers during the development process. Be brave in pivoting based on credible feedback and learnings Don't settle for stagnation. Unleash your imagination and unlock exponential growth. https://lnkd.in/eBhtbBgq #imagination #innovation #growth #cognosis

Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value. W. Chan Kim

Transient Competitive Advantage VS Sustainable Competitive advantage. Historically, strategy and innovation have been thought of as two separate disciplines, in both research and practice. Strategy was all about finding a favorable position in a well-defined industry and then exploiting a long-term competitive advantage while innovation was about creating new businesses and was seen as something separate from the business’s core set of activities. Companies have always held on to the well-known strategy tools, from SWOT, Michael Porter's Five Forces, BCG Share Matrix and other Conventional Frameworks. However, to win in volatile and uncertain environments, executives need to learn how to exploit short-lived opportunities and innovate with speed and decisiveness. You need to think of customer “jobs to be done,” rather than rigid markets influenced by supply and demand, this way you can always optimize on every opportunity that the market presents, as opposed to being hell bent on squeezing as much as you can out of any existing competitive advantage. When competitive advantage doesn't last, or last for a much shorter time than they used to, the strategy playbooks need to change, moreover stability in any organization is not safe in a highly dynamic competitive environment.

"Companies are apt to forget their imaginative origins they become inwardly focused, prioritizing optimization of existing products and business models over the creation of new ones. This is accompanied by subdivision and specialization and the growth of complexity, which can impede the spread of new ideas. And financial success leads to complacency and risk aversion, with leaders becoming wary of challenging the mental models that underpinned their past success." Imagination and general creativity often gets underplayed in modern business. But at the end-of-day it's a skill; some people can be good at it, some people are bad at it, and just like any skill it can be learned and through regular exercise you can get better at it. Great article by Martin Reeves and Dr. Adam Job talking through a six-step cycle that is at the foundation of a corporate “imagination machine". Colliding ideas with reality is something I'm very passionate about. 💚 Harvard Business Review #mindsets #innovation #innovation https://lnkd.in/eYnYwpyw

🌟 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐒-𝐂𝐮𝐫𝐯𝐞 𝐟𝐫𝐨𝐦 "𝐔𝐧𝐝𝐢𝐬𝐫𝐮𝐩𝐭𝐚𝐛𝐥𝐞" 𝐛𝐲 𝐀𝐢𝐝𝐚𝐧 𝐌𝐜𝐂𝐮𝐥𝐥𝐞𝐧 📈 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐒-𝐂𝐮𝐫𝐯𝐞? A powerful model that illustrates the life cycle of technology, innovation, or business growth over time. 🔍 𝐊𝐞𝐲 𝐏𝐡𝐚𝐬𝐞𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒-𝐂𝐮𝐫𝐯𝐞: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧: Slow initial growth as early adopters test the waters. 𝐆𝐫𝐨𝐰𝐭𝐡: Rapid acceleration as the innovation gains acceptance. 𝐌𝐚𝐭𝐮𝐫𝐢𝐭𝐲: Slowing growth as market saturation approaches. 𝐃𝐞𝐜𝐥𝐢𝐧𝐞: Decrease as the technology becomes outdated or is replaced. 💡 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐄𝐚𝐫𝐥𝐲 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧: Embrace new technologies early for a competitive edge, despite higher risks. 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐔𝐩: Focus on expanding production, marketing, and distribution during the growth phase. 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐨𝐮𝐬 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Stay ahead by investing in R&D to prepare for the next wave of innovation. 🌐 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬: 𝐃𝐢𝐬𝐫𝐮𝐩𝐭𝐢𝐯𝐞 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: New technologies often disrupt existing markets, creating new opportunities. 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬: Knowing the position of a technology on the S-Curve helps in making informed investments. 𝐋𝐢𝐟𝐞𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Balance your portfolio by investing in both emerging and mature technologies. 📚 𝐄𝐱𝐚𝐦𝐩𝐥𝐞 𝐟𝐫𝐨𝐦 "𝐔𝐧𝐃𝐢𝐬𝐫𝐮𝐩𝐭𝐚𝐛𝐥𝐞": McCullen emphasizes the need for businesses to understand and navigate the S-Curve to remain resilient and adaptable in a rapidly changing world. 🚀 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲: The S-Curve is more than just a model; it's a strategic tool for anticipating market shifts and driving sustainable growth. #Productlifecycle #Scurve #Leadership #AidanMcCullen

🔄 From "Solutions Seeking Problems" to "Seeking Problems to Solve" 🔄 In the fast-paced world of business, it's all too easy to get caught up in the whirlwind of operations, often neglecting the evolving needs of our customers. We frequently find ourselves pushing the same value propositions repeatedly, even as the landscape around us changes. In today's complex and volatile environment, adaptability isn't just an asset; it's a necessity. ✨ Key Insight from "Managing Innovation" by Joe Tidd and John Bessant ✨ One transformative shift is moving from a mindset of "solutions seeking problems" to actively "seeking problems to solve." This change in perspective is crucial for fostering genuine innovation and staying relevant. As Edison famously said, “The real challenge in innovation is not innovating (having good ideas) but making good ideas work technically and commercially.” 💡 Innovation is Not Just Invention: Being a great inventor doesn't guarantee commercial success. No matter how brilliant an idea is, the world only bets on how effectively that idea is executed and brought to market. #Innovation #Leadership #CustomerCentric #BusinessStrategy #Adaptability #ManagingInnovation

As a thought leader in the industry, it's essential to stay curious, keep learning, and share valuable insights. Let's continue to drive innovation and inspire positive change. #ThoughtLeadership #Innovation #IndustryInsights

🌟 Instead of focusing on beating the competition, let's make the competition irrelevant. 🌟 🚀 I want to share a thought on a topic close to my heart, something I discuss almost every single day: Value and Innovation. But what if we approached this as Value Innovation? 🔑 The key? Value + Innovation = Value Innovation. I believe that Value Innovation is a crucial part of any effective strategy. - 💡 Value without Innovation: This often results in minor changes that fail to stand out in a crowded market. - 💡 Innovation without Clear Value: While groundbreaking, these ideas can miss the mark if customers aren’t ready to embrace them. Value innovation combines excellent customer value with fresh, innovative ideas. This approach not only meets existing market needs but also creates new possibilities. Of course, there is not such thing as a riskless strategy. #Strategy #Businessdevelopment #Innovation

What is one change or innovation you see within your industry shaping the future? We want to hear from you! Drop comments below ⬇️. Thank you! #leadershipdevelopmemt #leadingchange #ou #priceexecutiveacademy #innovation #executiveeducation

A lack of problems indicates a lack of innovation 💡and improvement🧰. In other words, if everything is running smoothly without any issues, it often means that there's no drive to seek out new ways to improve processes, products, or services. Problems, challenges, and obstacles are opportunities for growth and innovation. Embracing and addressing problems can lead to continuous improvement and excellence. 🚀 #ContinuousImprovement #LeanManufacturing #OperationalExcellence #ProcessImprovement #InnovationInManufacturing