+ Event synopsis - Kellogg Innovation Network

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Managing Through Uncertainty. Mastering New Realities. Kellogg Innovation Network (KIN) Dialogue November 9-10, 2009 “Many great companies have been started in downturns—IBM for instance. If my hair is on fire, and you can put it out, I’ll pay you for it.” — Matt McCall, Managing Director, New World Ventures “If you walk into a bar and shoot two guys on either side of a guy, he’s not just going to sit there. Iran will get a bomb.” — Dr. Tom Barnett, Geopolitical Consultant to the Pentagon & White House and New York Times Bestselling Author “A crisis a terrible thing to waste. How do we take advantage of this event in a nonjudgmental fashion; that is, not labeling it positive or negative but rather an opportunity?” — Denis Browne, Senior Vice President, Business Objects, SAP “Engineering is the ‘art of the possible’ and marketing is the ‘art of the valuable.” — Robert C. Wolcott, Co-founder of the Kellogg Innovation Network Summary prepared by: Stephanie Wolcott Content Director, KIN Global Contributions by: Paul Epner Principal, Paul Epner LLC Michael J. Lippitz, Ph.D. KIN Research Fellow Kellogg School of Management, Northwestern University Page 2 of 10
Managing Through Uncertainty. Mastering New Realities. Kellogg Innovation Network (KIN) Dialogue November 9-10, 2009 EXECUTIVE SUMMARY Framing the Conversation “How do you create strategy in an increasingly uncertain world?” This was the focus of the KIN Fall Dialogue 2009—a tour-de-force of macro-trends and future visions of global affairs, as well as down-to-earth insights on personal productivity. We went deep into experiences with leadership during transformational change and received some strong medicine for corporate turnarounds. KEY DIALOGUE INSIGHTS • We are no longer dealing with just predictable cycles but also ‘black swans,’ that is, dramatic and rapid shifts in the global environment. • Increased complexity and speed of change has created unprecedented ambiguity. • In our unpredictable world, it is important to have an Early Warning System to identify risks and opportunities. • Scenarios are an important tool to plan for an unpredictable future. • Don’t manage the rate of failure, manage the cost of failure. • If given a choice between an innovative product or innovative business model, choose the business model. • The KIN is one opportunity to do things outside your normal routine to create unexpected insight. KEY QUESTIONS • How can companies develop sound strategy in an unpredictable world? What structures are needed? • What role can business, your business, play in building true prosperity around the world? • What does the global gap (arc of instability) mean for your company? • There is a massive opportunity to engage the 2 billion people, truly poor people, at “the base of the pyramid” in the formal economy, as both consumers and producers. Can your company develop relevant products and services in healthcare, housing, water, nutrition and energy for this massive market? THEMES • Increased, atomized, and hard-to-predict competition. • Emergence of the BRIC countries, especially an avid, aspiring middle class. • Innovation driven by growing scarcity of resources. • Globalization and localization at the same time. • Greater levels of customization required for increasingly fragmented customer groups. Kellogg School of Management, Northwestern University Page 3 of 10
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