» to fix the innovation and growth problem…
» …stop asking “how do I add value*?”
» …start asking: “how do I enable better progress?”
* progress improves well-being; value reveals itself as comparisons of progress
Beyond Value Podcast:
The Progress Economy
(NOTE: content is being rewritten, simplified, and focused on core concepts rather than detailed exposition
Bookmark and keep revisiting to see the changes!!)
» the concepts
Progress Economy thinking accelerates systematic innovation, leading to regaining successful growth. It proposes progress – moving over time to a more desired state – is the true unit of strategy.
For practitioners, it explains how a customer’s seek improvements in well-being, and turns that understanding into practical tools, frameworks, and innovation levers that can be applied immediately. Managers must look beneath value to the underlying phenomenon being assessed: progress itself.
For strategists, it operationalises service-dominant logic, reduces marketing myopia, removes goods vs service issues, and expands Jobs to Be Done theory. Most importantly, it demonstrates that progress is the phenomenon from which value emerges (through comparisons of progress state). Progress, therefore, is the more suitable unit of strategy.
Progress operationalises changes in well-being; value is the assessment of that change.
progress » progress attempts » progress hurdles » progress propositions » progress economy
(NOTE: the above content is currently being simplified to give key insights and points rather than academic narratives)
» The Problem
» Growth is stalling
» Innovation is failing
» everyone agrees that innovation drives growth
» you’re investing more in innovation than ever…yet you’re getting less growth
» your teams are out there selling…but you’re missing growth expectations
» you’re not alone…something is structurally wrong
» the very concept that has driven our previous explosive growth – chasing value – has structural limitations that are now holding us back
The world is facing a decade of stagnation — the “Tepid 20s”.
International Monetary Fund
Only 6% of executives are satisfied with their innovation initiatives
McKinsey
few suppliers…are able to answer…how you define and measure value?
Anderson and Narus
» The Shift
» From adding value
» To improving well-being
» …through enabling progress
…value really emerges for customers when goods and services do something for them
Grönroos, C.
Value creation is ultimately about improving the well-being of actors.
Vargo & Lusch
Progress: moving, over time, to a more desired state (operationalises improving well-being)
The Progress Economy
» embedding value is an incomplete map; to a destination we struggle to define, agree and measure.
» it’s time for an evolved approach: a shift to value-in-use thinking, where we don’t add value, we offer to improve well-being
» and we operationally do that by enabling better progress
» progress reveals a clear operating system of our world, an actionable definition of innovation, and a set of levers to systematically drive innovation and sales activities
» value? that is comparisons of well-being, made before, during, and after progress
» welcome to The Progress Economy
» the concepts
Here’s some of the tools that The Progress Economy reveals:
- Progress Diagram
- Three Dimensions of Progress State
- Progress Sought
- Progress Origin
- Progress Journey
- Progress Attempt
- Progress Reached
- Progress Anticipated
- Progress Decision Cycle
- Progress Proposition
- Progress Offered
- Assumed Progress Origin
- Proposed Progress-making Activities
- Resource Mix
- Proposition Continuum
- Resource Mix Visibiliy
- Progress Hurdles
- Capability – foundational hurdle
- Adoptability
- Resistance
- Confidence
- Continuum misalignment
- Inequitable Exchange
- Engagement Decision Cycle
- Emerging Well-being improvements
- Recognising Well-being improvements
- Four Innovation Actions
- Improving progress possible today
- Extending progress possible
- Reducing one or more progress hurdles
- Increasing well-being recognition frequency
- 24 Innovation Levers
- Group 1:
- Group 2:
- Group 3:
- Group 4:
» the cases
No model emerges in isolation. A new model needs to explain existing practicalities and theories, and add extra insights. Here we look at how The Progress Economy explains several practical applications and key business theories
Practical applications
» Leveraging AI
» The shift to the service economy
» Performance based contracting
» Quantum Computing
» Smart glasses
» Supermarket self-checkout
Explaining KEY business theories
» Paradox of value (aka diamond/water paradox)
» Jobs to be done (Christensen)
» Marketing myopia (Levitt)
» Innovate or Die (Drucker)
» Disruptive innovation (Christensen)
» Competitive strategy (Porter)
» Blue Ocean Strategy (Kim & Maugborne)
» Lean Startup (Ries)
(Dynamic Capabilities, Resource-Based View, Service-Dominant/Service Logics, theory of the firm, and value models are explored in the exposition of the progress economy).
(NOTE: content is currently being written for the book, informative extracts will appear here)