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Innovative & Transformational mindsets

The Governance Institute of Australia hosted an excellent event “Setting your mind set to innovation and transformative business for the new year” the speakers were Michael Roseman and Rebecca Stephens and they kindly shared their incredible expertise, I now share my notes from the event.

Traditionally organisations focus on fixing their processes – and looking for “what is broken?” we are encouraged now to think about “what is possible?”, change your mindset to be one of ‘opportunities’. Rather than being filled with busyness and focusing on fixing, think about the opportunities.

Organisations get disrupted when they run out of relevance and not because of poor processes and efficiencies, it is easier to cut costs than grow revenue.

It is a challenge because how do you create a future that doesn’t exist? Good questions to ask yourself are:

  • “What are the new ways to create value for my customer?”

  • “What are the new ways to capture value for my organisation?”

Risks are often seen as threats and rarely seen as opportunities but they are both. The future is an opportunity risk, but traditional mindsets focuses on threat risks

It used to be the guy in the garage building a start-up who scared the big organisations, however now organisations increasingly see that guy in the garage as an opportunity and want to know how they can partner with them. Technology allows us to enter the market faster, customers are 24/7 connected and customers want to co-design with us

We discussed the past present and future of Economies:

  • Economy of organisations

  • Economy of people

  • Economy of things

  • Economy of Information

Economy of organisations

People started working together, they focused on improving and enabling organisations. Corporations sold products and services to people and dictated how when and where people could obtain the products and services. People obeyed the rules of the organisation. In the last 10 years that has been disrupted, welcome the economy of people.