• Our traditional value model (value-in-exchange) has been wildly successful…
  • …but it has innovation and growth blind spots:
    • before, after, and across a point of exchange
    • a goods vs services mentality
  • …and a poor, hard to leverage, definition of value
  • Progress – moving over time to a more desirable state – is our new focus. It:
  • Value now:

where PROGRESS PROPOSITIONS are bundles of supplementary resoures, offering to reduce a lack of resource in making progress

  • Propositions sit on a continuum between:
    • enabling
    • relieving
  • …based on who performs the majority of progress-making activities
  • Progress is now a joint endeavour; value is co-created

* (lack of resource), adoptability, resistance, lack of confidence, misalignment on continuum, equitable exchange

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.

And the progress economy reveals a variety of levers making innovation more systematic, not least:

  • altering the resource mix
  • improving individual resources
  • moving along the continuum
  • responding more individualistic to progress
  • reducing progress hurdles
  • enhancing progress-making activities

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 (embedexchangedestroy) encourages the linear economy of takemakewaste
  • 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

Explore more

selected cases and examples