sommers tlf innovation day
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Know What Changes, What Doesn’t, and What’s Next
@CECILYSOMMERS
Maldives Bioplotter
What Changes
What Doesn’t What’s Next
THE FOUR FORCESWhat Changes
GOVERNANCE
DEMOGRAPHICS
TECHNOLOGY
RESOURCES
THE FUTURE OF RETAIL BANKINGWhat Doesn’t Change
Life is commerce
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Three Themes:
1. Arrival of Big Data, and visualization of it
2. Systems that learn
3.More human, natural interfaces
New toolsWeb 1.0• around information access
and communication. Communication practices fit into two dominant paradigms.
• 1:1 and small group communications: email and IM.
• Public tools like virtual worlds, forums, and chatrooms.
Web 2.0• An information ecology
organized around friends• Friendship-driven public
spaces: “networked publics”
Industrial Revolution
(1771)
Mechanized Labor
Cotton Gin,
Steam and Railways
(1829)
Transportation
Ports, highways, telegraph, postal
service
Age of Steel, Electricity, Heavy
Engineering (1875)
Steel
Paper and packaging, Civil
Engineering
Age of Oil, Automobile, Mass
Production (1908)
Cheap fuels
Petrochemicals, combustion
engines, household electronics, refrigeration
Age of Information and
Telecommunications (1971)
Microprocessor
Computers, software, desktop
publishing, digital
communications, biotechnology, new materials
Energy intensity => Increased Productivity => Distributed Economies Based on the work of Carlota Perez
Author, Technological Revolutions and Financial Capital
“Finance is the driver. Decisions to invest are taken by entrepreneurs, often backed by financial agents. ”
- Carlota Perez
The Role of Banks: Enablers• Personal and business goals
– Guides, training, certification
• Wealth creation– Credit, investment
• Economic engines – Support new models of technical-socio-economic
progress
JP Morgan• 1878: J.P. Morgan funded Edison at the very
beginning of electricity.
• 1908: Rebuffed Henry Ford, “automobiles are rich men’s toys.”
ZONE OF DISCOVERYWhat’s Next
Our memories are the material from which we construct, simulate, elaborate, and predict future events in an ever-changing environment.
Bangkok, Thailnd
“Problems cannot be solved by the same level of thinking that created them.
- Albert Einstein
INSIGHTRequires novelty
5% Rule
Four Forces
Zone of Discovery
5% RULEWhat’s Next
“Everyday I look for a better way. ”
- Jack Welch
EducableScalableWidgetizable
1 Day = 24 min
5 Days = 2 hours
General MillsIdea Greenhouse
• + 5% in net sales for Snacks Division
• 10% market share in grain-cereal bar category
• Adoption of “Core Hours,” 9am-3pm (2011)
“It took the hierarchy out of innovation…lifted up very junior people as thought leaders…”
- Gayle Fuguitt, SVP, Global Consumer Insights
It “succeeded in reframing the thinking throughout the function. Innovation had become the norm. . . . Where we look for inspiration now is much, much broader than consumer segments, retail and food trends, or industry practices. We look to countries, cultures, disciplines, philosophies . . . it makes the insights stronger.”
- Kaia Kegley, Assistant Manager
“Freedom to experiment” ranked low (on Climate Survey). “Now,” he says, “it’s an expectation! We’ve become comfortable with trying things out—just get the idea out there; it doesn’t have to be perfect. Our job is to solve the problem, so experimentation is a valued part of that process.”
- Jon Overlie, Senior Manager
• Four Forces• L-R-L• 5% Rule
THANK YOU!cecilysommers.com