We have an innovation problem; contributing to stagnating growth (the “tepid twenties” as the IMF have called it).
We’re redefining VALUE as a metric of making PROGRESS (to a more desirable state) to find the fix
- Our traditional value model (value-in-exchange) has been wildly successful.
- But it has inbuilt innovation and growth blind spots
- before, after, and across a critical moment of exchange
- And a poor, hard to leverage, definition of value
- Progress – moving over time to a more desirable state – is our new focus.
- It is simpler to define and capture – comprising functional, non-functional and contextual elements – and to take action on.
- Progress propositions – supplementary bundles of resource – aim to address any lack of resource (the fundamental, of six, progress hurdles) limiting progress.
- Value now
- incrementally emerges as progress is made – value-through-progress
- needs to be recognised – akin to revenue recognition – for it to be meaningful
Leading us to a more ACTIONABLE definition of INNOVATION- based on
improving progress
innovation: creating and executing new – to the individual, firm, market, industry or world – progress proposition(s) that offer some combination of:
- improving how to make today’s potential progress
- increasing progress that can be made (getting seeker’s closer to their individual progress sought)
- reducing one or more of the six progress hurdles*
- persuading value to be recognised quicker
whilst maintaining, or improving, the survivability of the innovator.
* lack of resource, adoptability, resistance, lack of confidence, misalignment on continuum, equitable exchange
Finding we can offer the new notion of value called for to transition to the CIRCULAR ECONOMY
one of the biggest challenges…to transition from linear to circular is that it requires…revisiting the very notion of value creation
Ellen MacArthur Foundation (2023) “From ambition to action: an adaptive strategy for circular design”
- Traditional Value-in-exchange thinking (embed⇒exchange⇒destroy) encourages the linear economy of take⇒make⇒waste
- Value-through-progress thinking frees us from the distracting focus on a moment of exchange
- Firing up the circular economy…if that is the progress being sought
Revealing actionable definitions, architectures and tools FIXING INNOVATION AND FIRING UP GROWTH
Explore more
Strategic layer
Operational layer
Decision layer
Foundation layer
selected cases and examples
[under development – anything below is likely to be a placeholder / work in progress at the moment…]
key concepts
- Everyone is trying to progress – move to a more desirable state – with all aspects of their life
- Value emerges from progressing; with maximum value upon reaching progress sought
- To be meaningful, progress seekers need to recognise emerged value; that may occur disjointly to it emerging
- Often we lack the resources – eg skills, knowledge, tools, strength… – to attempt progress on our own (a progress hurdle)
- Progress propositions are supplementary resources* offered by progress helpers aiming to reduce a seeker’s lack of resource; their progress offered needs to be a sufficient match to a seeker’s progress sought
- Attempting progress with a proposition is a joint endeavour; emerging value is now co-created
- Propositions fall on a continuum between enabling and relieving (determined by who performs the majority of the progress-making activities)
- But propositions introduce five additional progress hurdles** that need minimising
- Innovation is all about enabling better progress to be made (allowing seekers to recognise more value)
- For a progress helper, the role of the progress owner is critical (accountable for marketing, execution, innovation)
* proposed series of progress-making activities plus proposition specific resource mix (eg employees, systems, data, goods, physical resources, locations)
** adoptability, resistance, lack of confidence, misalignment on continuum, equitable exchange