The Innovation Problem
You’re not alone in thinking innovation investments are not moving the needle much. We have an innovation problem that’s impacting your organisation’s, and macroeconomic, growth…and it’s because we chase value. Beyond Value Podcast Episode: What we’re thinking McKinsey tell us only 6% of executives are happy with their innovation initiatives – think about that for a moment, 94% of executives are not happy! Yet 84%, according to the same research, see innovation as important to growth. More recent research tells the same story. And worryingly, the IMF cautions us that we are heading into the “tepid 20s” in terms of…
Phenomenological
It’s all the baggage and what you’re currently experience that you bring to decisions; you wonderfully complex human being WHAT WE’RE THINKING Phenomeno-what? I’m with you, what a mouthful! Yet we’ll use this word a lot in The Progress Economy, so let’s try and get some intuition about it. Think of it as the baggage you bring to a decision – all your lived experiences together with what you’re experiencing at that moment (your living experience). It’s why you might hate a particular proposition right now, but loved it yesterday; or why you’ll never engage it, ever, or…! Phenomenological is…
Service Exchange
We don’t exchange value, we exchange service – but this is often indirectly via service credits (of which cash is a successful implementation)
Progress as a verb and a state transition
Progress is a verb, a continuous journey between two progress states. It can equally be seen as a discrete series of state transitions.
What is value?
Value: difficult to define, agree upon, and measure; yet we all talk about maximising, embedding and adding it to products. But this traditional view of value – despite its past success – is increasingly hindering innovation and holding back growth. It’s time to re-imagine our view of value.
Service vs Services
We make a distinction between service (singular) and service (plural). Here’s why, and why it matters
Progress as a State
Progress is a state, comprising three equally important dimensions: functional, experiential, and contextual.
Value-in-Exchange
The value model that built industries and economies – embed, exchange, use-up. But is increasingly holding us back with its blind spots increasingly stalling your innovation and limiting your growth.
Progress as a noun
It is useful to name several specific states. Several act as waypoints – progress origin, sought and offered – whereas there indicate judgements – progress reached and progress potential.
Value-in-use
The value model underlying service-dominant logic, which sees value created as products are used and having only potential when not used. We see usage as improving well-being.
