Fronteer Strategy - Vlerick Co-creation & Open Business Models

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Presentation by Martijn Pater about Co-creation and Open Business Models during the Vlerick Innovation Day

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<p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Fronteer StrategyCo-creation &amp; Open Business Models- 2nd Vlerick Innovation Day </p> <p>Brussels, October 11, 2011</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 2</p> <p>Crowdsourcing</p> <p>Co-CreationCommunitiesExpert Board</p> <p>Open Innovation</p> <p>User Generated Content</p> <p>Social Media2.0</p> <p>Collaboration</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 3</p> <p>Team sessionsHiring an agency</p> <p>Expert panels Brainstorm </p> <p>sessionsResearch</p> <p>Social media</p> <p>How does it relate to?</p> <p>Co-Creation</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Question to you:</p> <p>What is Co-creation?</p> <p>4</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>ABOUT US</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 6</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>We help brands to grow</p> <p>7</p> <p>8</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 9</p> <p>STRATEGY</p> <p>Our services</p> <p>INNOVATION</p> <p>CO-CREATION</p> <p>VALIDATION</p> <p>BUSINESS MODELING</p> <p>IMPACT</p> <p>BRAND DEVELOPMENT</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>CO-CREATION</p> <p>Unpredictability</p> <p>11 Source: Banny Bannerjee, Stanford University</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 12</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 13</p> <p>14</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>You cannot solve a problem </p> <p>with the same thinking that </p> <p>created it.</p> <p>Albert Einstein</p> <p>15</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>No matter who you are, most of the smartest people work for someone else.</p> <p>Bill Joy, Founder Sun Microsystems</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Co-creation unlocks the collective creativity of </p> <p>people to create deeply relevant solutions.</p> <p>16</p> <p>17</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Co-creation is the chance for others to complete </p> <p>the work that you started, going well beyond what you </p> <p>envisioned or intended.</p> <p>Henry Chesbrough, author of Open Services Innovation (2011)</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Co-creation is developing new products, concepts or services </p> <p>together with customers, partners and other expert stakeholders.</p> <p>18</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 19</p> <p>Why Co-Creation?</p> <p>1. Real involvement of the outside world</p> <p>2. Fresh new perspectives, ideas &amp; energy</p> <p>3. Innovative, compelling &amp; round concepts</p> <p>4. Point of No Return</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>4 TYPES OF CO-CREATION</p> <p>4 Types of Co-creation</p> <p>21</p> <p>Anyone can join</p> <p>Selection process</p> <p>Initiator Initiator + Contributors</p> <p>Club of Experts</p> <p>Community of Kindred Spirits</p> <p>Coalition of Parties</p> <p>Ownership</p> <p>Open-ness</p> <p>Crowd of people</p> <p>Crowd of People</p> <p>222</p> <p>Anyone can join</p> <p>Selection process</p> <p>Initiator Initiator + Contributors</p> <p>Ownership</p> <p>Open-ness</p> <p>4 Types: Crowd of People</p> <p>Crowd of People</p> <p>For any given challenge, there might be a person out there with a brilliant idea Community, PR, Crowdsourcing</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>200-500 USD</p> <p>99Designs</p> <p>What does the co-creator get out of it?</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>2500 USD</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>1% of revenues</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 26</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>25.000 and 1% of revenues</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>40% of revenues</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 28</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>A GRI (Glucose Responsive Insulin) for Better Treatment of Type 1 Diabetes</p> <p>100.000 USD</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 29</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>1M USD</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 30</p> <p>100M USDFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>- 250 USD</p> <p>322</p> <p>Anyone can join</p> <p>Selection process</p> <p>Initiator Initiator + Contributors</p> <p>Ownership</p> <p>Open-ness</p> <p>4 Types: Community of Kindred Spirits</p> <p>Community of Kindred Spirits</p> <p>Groups with similar interests &amp; goals developing something for the greater good Social, Open Innovation</p> <p>33</p> <p>Glory</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 34</p> <p>Your own products made</p> <p>35</p> <p>A new interior</p> <p>36</p> <p>A better world</p> <p>37</p> <p>A better classroomFRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>38</p> <p>A unique chance</p> <p>392</p> <p>Anyone can join</p> <p>Selection process</p> <p>Initiator Initiator + Contributors</p> <p>Ownership</p> <p>Open-ness</p> <p>4 Types: Coalition of Parties</p> <p>Coalition of Parties</p> <p>In certain complex situations you need to team up to share ideas and investments R&amp;D, Relations</p> <p>40</p> <p>New opportunities</p> <p>41</p> <p>New value</p> <p>422</p> <p>Anyone can join</p> <p>Selection process</p> <p>Initiator Initiator + Contributors</p> <p>Ownership</p> <p>Open-ness</p> <p>4 Types: Club of Experts</p> <p>Club of Experts</p> <p>Specific, time-pressured challenges that demand expertise &amp; breakthrough ideas Visionary, Team</p> <p>43</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>44</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 45</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 46</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 47</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>WHY?</p> <p>Fun, Fullfillment, Fame, Fortune</p> <p>Co-creation services</p> <p>Crowd of people</p> <p>ROOFTOPExpert co-creation5 + 10 people1 challenge, 1 day</p> <p>CLUBHOUSEStrategic alliances2+ parties1 challenge, x wks</p> <p>CAMPSITECrowdsourcing500+ people1 challenge, 9 wks</p> <p>CAMPERInnovation camp10-15 people5 days-off</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>KICKSTARTER.COM</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>What can we get funded?</p> <p>50</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 51</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Some recent numbers:</p> <p>52</p> <p>Source: Wired.com</p> <p>80 Projects launched daily</p> <p>5% goes to Kickstarter.com 10% of projects are gadgets</p> <p>+/- 40% gets funded400K pledgers14K projects</p> <p>1M USD pledged weekly</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>How does it work?</p> <p>53</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 54</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 55</p> <p>Upload project</p> <p>Video, blog, social media</p> <p>Pledge levels</p> <p>Backers% FundedDays leftProduction..</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 56</p> <p>What could be improved?</p> <p>1. More structure</p> <p>2. Co-creation</p> <p>3. Hick-ups</p> <p>What is really good?</p> <p>1. Easy &amp; Open</p> <p>2. Trust</p> <p>3. Promotion</p> <p>Source: Yobble</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 57</p> <p>A iPod Nano watch got...</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>As a result:</p> <p>6 People hired to answer...40.000 e-mails</p> <p>Prooduction time shortenedto 30 days</p> <p>Very close connection to customers</p> <p>58</p> <p>Source: Wired.comSource: Wired.com</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Peoples use of the service is never what the creators </p> <p>intended.</p> <p>- Investor in Kickstarter</p> <p>59</p> <p>Source: Wired.com</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>THE FUTURE?</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>How will we fix a broken stroller?</p> <p>61</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT. 62</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Thanks</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>Whitepapers: fronteerstrategy.com</p> <p>FRONTEERSTRATEGYINNOVATION.CO-CREATION.BRAND DEVELOPMENT.</p> <p>info@fronteerstrategy.com</p>

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