The Art of Opportunity: How to Build Growth and Ventures Through Strategic Innovation and Visual Thinking

The Art of Opportunity: How to Build Growth and Ventures Through......Page 1
 Contents......Page 11
 Foreword......Page 16
 Acknowledgments......Page 18
 Introduction......Page 21
 Reader’s Journey......Page 22
 1: Artful Innovation......Page 26
  Chapter 1......Page 29
   What is Strategic Innovation?......Page 30
    Traditional Strategic Management......Page 31
    Strategic Innovation......Page 32
     How to Play: Craft Your Strategy......Page 34
     How to Win: Create Value......Page 35
    The Five Principles of Business Design Thinking......Page 36
    Getting Started......Page 38
 2: Discover Your New Growth Opportunity......Page 40
  Chapter 2......Page 43
   Understand Your Customer and Noncustomer......Page 44
    Customer and Noncustomer......Page 46
     Understand Customer Needs, Expectations, and Choice......Page 50
     Identify Barriers to Consumption and Hurdles to Satisfaction......Page 55
     Inspiration: Cardinal Health......Page 58
     Inspiration: Klinik Hirslanden......Page 59
     Gather Information......Page 60
     Transform Findings into Insights......Page 61
     Inspiration: Ripple Effect Group......Page 62
     Activity: Persona Mapping......Page 64
     Activity: Create an Interview Guide......Page 66
     Activity: Customer Journey Mapping......Page 68
     Activity: Reveal Observation Headlines......Page 70
   Understand Your Firm......Page 72
    Resources and Capabilities......Page 74
     Inspiration: Caesars Palace......Page 76
     Resource Sparks: The Four Dimensions for Mapping and Assessing Resources......Page 78
    Methods to Understand Your Firm......Page 80
     Activity: Map Your Resources......Page 82
     Activity: Map Your Ecosystem......Page 84
   Frame Your Growth Initiative......Page 86
     Evolutionary Growth......Page 88
     Adjacent Growth......Page 89
     Breakthrough Growth......Page 90
     The Breakthrough Question......Page 91
    Decision Making......Page 92
    Kinds of Decision-Making Strategies......Page 93
    Decision-Making Process......Page 94
    Activity: Create Your Growth Initiative Brief......Page 96
    Activity: Explore Your Opportunity Insights......Page 98
    Activity: Select Your Opportunity......Page 100
   Visualize Your Opportunity......Page 102
    Employ Storytelling and Visual Frameworks......Page 104
     Activity: Visualize Your Opportunity......Page 108
 3: Craft Your Strategy......Page 110
  Chapter 3......Page 113
   The Elements of Your Strategy......Page 114
     Products......Page 116
     Customer Experiences......Page 117
     Inspiration: Hilti......Page 118
     Offering Sparks: 10 Ways to Design a New Offering......Page 120
     Activity: Offering Brainstorm......Page 132
     Activity: Design Your Offering......Page 134
    Shape Your Business Model......Page 137
     The Dynamic Perspective......Page 138
     Our Definition of a Business Model......Page 139
      Activities......Page 140
      Resources......Page 142
      Sequence......Page 143
      Roles......Page 144
     Business Model in Practice......Page 146
      Inspiration: Eden McCallum......Page 148
      Inspiration: Klinik Hirslanden......Page 150
     Business Model Sparks: 8 Ways to Design a New Business Model......Page 152
     Activity: Visualize Your Current Business Model......Page 162
     Activity: Design Your New Business Model......Page 164
     Activity: Flip Your Business Model Assumptions......Page 166
    Structure Your Revenue Model......Page 169
     Revenue Streams......Page 170
     Pricing Mechanisms......Page 172
     Payment Mechanisms......Page 174
     Inspiration: ProSiebenSat.1......Page 176
     Inspiration: Fahrenheit 212......Page 178
     Inspiration: 826 Valencia......Page 179
     Revenue Model Sparks to Consider......Page 180
     Activity: Revenue Model Card Sort......Page 182
   Set Your Strategy: Creating Value......Page 184
    Creating Value......Page 187
     Customer Value......Page 188
     Firm Value......Page 190
     Ecosystem Value......Page 192
     Inspiration Summary: Value Propositions by Company......Page 194
     Activity: Set Your Strategy......Page 196
   Visualize Your Strategy......Page 198
    Final Note on Crafting Your Strategy......Page 199
     Activity: Visualize Your Strategy......Page 200
 4: Launch Your New Growth Business......Page 204
  Chapter 4......Page 207
   The Three Phases of a New Growth Business......Page 208
    The Inception Phase: Validating Your Opportunity And Piloting Your Strategy......Page 211
     Three Steps for Validation and Piloting......Page 212
      Field Observations......Page 218
      Interviews......Page 219
      Additional Resources to Explore......Page 220
     Activity: What to Test......Page 222
     Activity: How to Test......Page 224
      Achieving Success......Page 226
      Gaining Insights......Page 227
    The Evolution Phase: Adapting Your Strategy......Page 228
     Inspiration: ProSiebenSat.1......Page 230
     Inspiration: Fahrenheit 212......Page 232
     Activity: Start, Stop, Change, Continue......Page 236
     Activity: Design Next Steps......Page 238
     Visualize Your Growth Plan......Page 240
     Activity: Visualize Your Growth Plan......Page 242
    The Diffusion Phase: Scaling Up Your Business......Page 244
     Operational Challenges......Page 246
      Build an Organizational Culture of Sharing, Listening, Collaboration, Experimentation, and Support......Page 248
      Create a Clear and Simple Way to Track and Measure Your Progress......Page 249
 5: Mastering the Art: Business Design Thinking......Page 250
  Chapter 5......Page 253
   What is Business Design Thinking?......Page 254
    Foundation of Business Design Thinking......Page 255
    Process and Methodology......Page 256
    1. Keep a Human-Centered Focus......Page 258
    2. Think Visually and Tell Stories......Page 260
    3. Work and Co-Create Collaboratively......Page 261
    4. Evolve through Active Iteration......Page 262
    5. Maintain a Holistic Perspective......Page 263
    Inspiration: Oracle......Page 264
    Inspiration: ExactTarget......Page 266
   A New Way of Working......Page 268
    Inspiration: Microsoft......Page 270
 Notes......Page 280
 About the Authors......Page 282
 Index......Page 285
 End User License Agreement......Page 291