In the March/April 2024 issue of Car & Driver magazine, Jamie Kitman points out the gains and pains within the current four-wheel EV landscape. Kitman’s Upfront article, Alternating Current provides the painful reality of “piss poor planning” (my words, not his) within the hallowed walls of auto OEs, again. As history seems to always repeat itself, once again the lack of reality has bit auto manufacturers in the ass. When global governments started mandating zero-emissions by 2035, the OEs’ jealousy of Tesla gained unprecedented momentum.
There are two glaring weaknesses within design thinking, and especially IDEO’s Human Centered Design (HCD) – brainstorming and lack of a systematic methodology to evaluate and select ideas. Two ways to supercharge design thinking are with systematic ideation and systematic analysis and decision-making. Simple-to-learn and easy-to-use tools can transform design thinking output from the “so so” to the implementation of powerful solutions to the most difficult problems.
How many business leaders spend hours every week improving their skills and finding new ways to create value? How many would rather spend their time at the bar or on the golf course rather than studying foundational principles to bring their business to the next level? How many decisions are based on guesses, rather than data and talking to customers? How much of day-to-day operations have not changed in the past five years? How many managers just wing it?
These are just some of the foundational issues within organizations. And the modern MBA courses do not help. MBA courses emphasize on finances and archaic tools and techniques that most people never use. You rarely learn about Deming, Imai, Drucker, Ries and Trout, as well as creative and critical thinking in the halls of academia. The skills for the real world, are missing.
An IDEA FACTORY is a deliberate and systematic virtual and physical space which teaches people how to develop ideas and apply them for continuous improvement. An IDEA FACTORY can be for individuals, groups or teams, organizations, or communities. The goal is for people to learn how to develop and apply ideas to solve problems, take advantage of opportunities, create new products, services, or businesses, or improve processes. Now more than ever, IDEA FACTORIES are needed during such a massive time of change.
In good times you should never blindly follow the herd. But this is even more relevant during bad times. As Albert Einstein famously said, "the definition of insanity is doing the same thing over and over again and expecting a different result". To develop lasting competitive advantages and provide new, unexpected value for your customers, it is critical to think and act differently from your competitors. You have to reinvent the game.
I just finished reading two great books from Gifford Pinchot III, Intrepreneuring and Intrepeneuring in Action. These books discuss the need for entrepreneurship within large organizations, and why intrapreneurs are critical for an organization’s success. Pinochet coined the term “intrepreneur” to describe an “intracorporate entrepreneur”. What this role is, is an individual whom acts like an entrepreneur but within an organization.
We always hear the business press and academics talk about how unpredictable the future will be. How the rapid rate of change will affect all industries and businesses. However, the instability we are all experiencing right now is unprecedented for most of us. As I have written before, these times require all of us to rethink how we conduct business. Times like this requires us all to reevaluate how we conduct business and how to survive and prosper as things rapidly change. If you typically react to market changes, this is a great “kick-in-the-pants”moment to be proactive. Stay positive and realize the unlimited opportunities that now exist.
As the coronavirus expands across the globe creating panic and fear, it is critical to rethink how to meet these new challenges. As an increasing number of market segments contract, such as airlines, restaurants, sporting events, and entertainment, it is a great opportunity to quickly reinvent how to conduct business. At a time of great uncertainty and potential catastrophic business contraction, all businesses need to develop new, creative ways to engage with consumers.
