Have a Differentiated Market Transforming Strategy - video 3

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En provenance du cours de Technion - Israel Institute of Technology

Innovation Career Lessons from a Master

19 notes

Technion - Israel Institute of Technology

Innovation Career Lessons from a Master

19 notes

Cours 3 sur 4 dans Specialization Startup Entrepreneurship

This course, which is Part Three in the series of Startup Entrepreneurship specialization, offers Life Lessons from a Master Innovator, with proven achievements. During this course you will listen to conversations and interviews with Mr. David (Dadi) Perlmutter, who until recently was Executive VP of Intel corporate. Dadi will talk about 10 life lessons, based on his 34 years as a rebel innovator and entrepreneur. We will share with you the following lessons: Love and Knowledge are infinite: grow and share; Learn from Failures and Successes; Nothing Moves without a Vision; Have a Differentiated Market Transforming Strategy; Dare to Take Action; Fight Resistance; It is All About the Ecosystem; Build a Team; Keep it Simple and Work Hard. By the end of the course the learner will: * Know how to lead a process of innovation and implement ideas through all its phases from discovery to delivery in your own field of choice. * Know how to apply creativity to generate creative ideas in a wide range of strategic management issues. * Know how to solve problems in general, with a high degree of innovative creative thinking, to widen the range of possible choices * Identify new and unfamiliar challenges and needs, reflect on them from a creative point of view (zoom in), decide on the action they require (zoom out) and generate a novel and useful solution * Transform ideas into real value-creating products, services and processes. * Be able to analyze both success and failure and draw conclusions from both, for improving future innovative efforts. * Be able to identify and create key features of innovative products and services and in doing so, generate strategically differentiated innovations that are unique * Be able to present your ideas persuasively and overcome resistance. * Know how to simplify a complex product and make it user friendly. Course assignments will include participation in two discussion groups and four assignments. In each assignment you will be asked to deal with a question relating to an interview you have seen.

À partir de la leçon

Strategy, Action & Resistance

Many highly creative people never get beyond vaguely talking about their ideas. Don’t be like them, Perlmutter counsels. Take action to implement at least some of your ideas. The bigger your idea, the more resistance you will likely encounter. Perlmutter explains how he overcame such resistance, in order to help you do the same. At the end of this module you will be able to define key features of your product or service in order to differentiate it. You will also be able to focus on key ideas in order to fight resistance.

Have a Differentiated Market Transforming Strategy - video 16:49

Have a Differentiated Market Transforming Strategy - video 28:24

Have a Differentiated Market Transforming Strategy - video 37:31

Rencontrer les enseignants

Prof. (Emeritus) Shlomo Maital
Prof. Shlomo Maital Sr. Research Fellow, S. Neaman Institute, Technion
Industrial Engineering
Dadi Perlmutter

So the second part of a definition of this lesson is market transforming.

A really radical innovation changes a market.

I think I once wrote that a good manager creates a good new product and

a great manager greats a new industry.

And of course there are two types of innovation.

There's incremental innovation.

You do that all the time.

You improve an existing product.

That is radical innovation.

That is something completely new and, for example, the Walkman,

when [INAUDIBLE] at Sony tested the Walkman on people and

they put these weird things over their ears.

It failed.

Nobody knew what it was, nobody wanted it.

But he still had the courage to bring it to market, and of course,

it became a great product.

So, in implementing strategy, Buddy, there's a role here for leadership.

Let me go back to the Greek word for strategy.

Strategy come from a Greek word called [FOREIGN] which is the word for

a General, and in armies, Generals lead by giving commands, they give orders.

Doesn't quite work that way in business.

You have to get people to follow you rather than giving Orders.

How do you implement strategy by explaining, communicating,

motivating people, getting them together building the team choosing your team?

How do you do that?

How do you implement strategy?

>> End of day, a strategy is for me the prescription of what

are the critical thing that have to be accomplished to implement your vision.

Ideally it's not 500 things.

It have to be tend to a relatively small number.

Five, six, seven at last as it's impossible to do.

And people have to understand how the thing that you have chosen that

must be done, \because there are many thing you could do.

Support the vision that you have created, this is what I want to do.

You could the Walkman or the smartphone, Oor could be mobile computing.

What has to happen?

What are the five key things that if they don't happen,

nothing happens Verses the other 500 things that may happen but

it doesn't matter, and as I said it's an unlenaur approach.

You think about that again, and again and again, and

it continues where you never stop thinking about that, but the moment to define it.

And you have a good, what is the picture you can paint?

And what of the few things that have to be accomplished?

Then everything falls just right into it.

What things you have, what publishing you get,

what other things that have to be created in order to fulfill the vision.

Now you don't have to tell everyone every part of this strategy.

In many cases you would like to have your competition in the dark with respect to

what you're trying to do.

And in order to do that,

you tell everyone what they need to know, not necessarily everything.

You need to understand and

you need to have a full picture of what has eventually, have to be accomplished.

>> There's another key point here that I think you bring up and

that is, when you have these five key things that have to happen.

If you one of that doesn't happen the whole project fails.

That means that the people running this part of the project,

they have to tell you the truth.

Especially when they're falling behind or there's a problem or a mistake.

And that doesn't always happen because sometimes people are reluctant

to admit that they messed up.

So leading a project, building a strategy and

implementing it you have to really know what's going on.

And your people have to trust you and especially, you have to trust them.

>> We touched that when we talked about the analyzing failures and

successes, right?

And I mentioned at that time that if your strategy is to look for

people you want to punish, because they have not executed the walk, you fail.

And this is where the things come again

because people remember what you have done last time, and I think you manage one.

That iw what I like to call this strategy critical successfulness.

They are necessary but not sufficient if you look at the Vatican.

The whole five have to be necessary and sufficient.

But people have to understand that if that doesn't happen,

doesn't matter how the other things have been executed.

If what they are responsible for, and they need to know that the trust and

the openness is the critical thing and not only the truth, because all they want is

to, because they'll remember that you'll do this postmortem, or the brief

at the end of the game, and they'll be punished and they'll do the cover up.

So I think the whole process of creating a trust and working with people And

looking for problems and fixing them is part of the work.

An interesting story we used to have, when we developed.

Our review persons were not reviewing the whole thing.

The design manager was coming.

[INAUDIBLE] The top big issues.

The biggest top ten.

He didn't talk about successes.

He was a top ten.

The whole [INAUDIBLE] was about how we are fixing these problems.

I brought in my partner.

He was, at the time, sitting in Santa Clara.

And after the meeting, he came out.

He was completely in despair.

He said, after hearing that,

I don't believe that you will ever be able to finish this product.

Because all I heard about this top big problem said you are wrong.

This is exactly why I believe you will end it up because all we talk about is big

problems.

People know that it's good for them to present them, because this is how we fix

them early other than wait until they show off later on.

So I think you have to turn thing up side down,

you have to be also in the way you manage people.

And I think this approach, that it was okay to talk about our problems.

It was rewarded to talk about our problems, and

we'll celebrate the successes later on, but this is where we solve problems,

and this is what we are here together, not to feel good.

It is about feeling bad and fixing problems.

>> That is reminds me about the Ford motor company which was in trouble and

they brought in a new CEO.

I think he came from Poland, and he implemented a color coded So

we had regular conferences, divisions were coded.

And they color coded their problems, the big problems,

the crucial problems were color coded in red.

The whole organization was focused on can we help them solve this?

How do we deal with this?

And a different culture emerged.

The culture was not hiding the problems but let's put them on the surface and

then let's get all the brain power to work to see how we can solve them.

This I think is a crucial part of strategy implementing and

surfacing the problems talking about them and then deal with them and moving on.

Thaddy thank you very much.

>> Thank you.

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