» To fix the innovation and growth problem…
» Stop asking “how do I add value?”
»Start asking: “how do I enable better progress?”
Beyond Value Podcast:
The Progress Economy
Content is being rewritten, simplified, and focused on core concepts rather than detailed exposition
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» the concepts
The Progress Economy is a complete causal model of how progress improves well-being, revealing many points to innovate, creating growth.
progress » progress attempts » progress hurdles » progress propositions » progress economy
» 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 examples
Practical applications
Developments in modern business gain critical insights when viewed through the progress economy lens, including:
» Leveraging AI
» The shift to the service economy
» Performance based contracting
» Smart glasses
» Supermarket self-checkout
Explaining KEY business theories
Important business theories are readily explained, and given new insights, by viewing them through the progress economy lens, including:
» 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).