China, Europe and the Netherlands: Opportunity Is Knocking at Our Doors
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- Bu səhifədəki naviqasiya:
- The role of government
- Peter Jungen
- The new viewpoint: Jobs-to-be-done-thinking
- Martin Pattera Innovation Excellence Starts with Different Thinking
- New business opportunities in financial services
- Escaping the commodity trap in a machinery industry company
- Martin Pattera
Apr. 2015 113 WWW.BOAOREVIEW.COM cians in Europe about the absolute leading role of the US economy in the ICT Industry of our time. Europe is lagging behind in ICT R&D spending in relation to the GDP, which is about more than twice higher in the U.S. Europe is losing economic growth as it has too little ICT investment. For the first time in his- tory, Western Europe is not part of the breakthrough technology of its time. This will have severe conse- quences. There is a positive relationship between venture capital, financing of innovation and economic growth. The world total of venture capital and business angel investment is about 70 billion US dollars, of which 55 billion is invested in the U.S., 5 billion in Europe and 10 to 12 billion in Asia, with the bulk in China. Innovation also explains the fact that, since the peak of the world economy before the 2008/2009 crisis, GDP growth is positive in the U.S., and in the U.K., up about 6.5 and 2 percent respectively. Japan and the Eu- rozone, however, are negative, down 1 and 2.5 percent respectively. The difference in innovation plays out in the difference of economic dynamism and therefore economic growth. The only way out of the crisis for Europe is through innovation—the driving force for economic dynamism in the last 250 years. We also have to un- derstand that growth does not come from the Labour Office or from legislation. The role of government For growth and wealth creation, governments need more entrepreneurs than the entrepreneurs need the government. Entrepreneurs now can choose between governments in the world. Governments don’t have that choice. The only way to increase the number of entrepre- neurs as the crucial link between invention and inno- vation is that politicians create a role model. We need entrepreneurial education as a key to the knowledge economics. Governments should create an entrepreneurship friendly environment by having the right institutions in place like the rule of law and property rights. Small government is important in terms of a low percentage of government spending of the GDP, free-markets, pro- tecting ownership, a favorable non-discriminatory tax- ation, education, financing of innovation, encouraging of start-ups and entrepreneurial role models. We need a law to protect start-ups, not against their competitors but against politicians and their bureau- cracy. If start-up entrepreneurs and small businesses were asked what is the most important decision the government can take, 90 percent plus would say: They should leave us alone! No one knows which start-ups are going to succeed or fail. Any strategy that leads you to believe that you can pick the winners is dubious. Governments often think that they have the ability to pick the winner, but empirical studies show that rather the losers pick the government! There is no role for the government as an entrepre- neur or as a venture capitalist, but rather it should be supporting invention through R&D spending. It should also strengthen education, in particular early childhood education, secondary schools and universities. Peter Jungen Chairman, Peter Jungen Holding GmbH P001-118-BAGC3-R5D1b2a1B3.indd 113 15-3-7 下午12:36 114 Apr. 2015 S uccess in innovation doesn’t come from under- standing the customer. It comes from a deep understanding of the job the customer is trying to get done. Jobs-to-be-done thinking identifies true customer needs which leads to the creation of break- through products. This thinking is integrated into a guided innovation process Outcome-Driven Innova- tion ® (ODI), which is predictable and measurable. Executives today face challenges to get out of com- modity traps and find new business opportunities. In- novation is the key, but the process must be seen from a different viewpoint. The new viewpoint: Jobs-to-be-done-thinking A team at Imperial College London was challenged to develop a new surgical tool to boost revenues and profitability of a medical device company. They devel- oped the iKnife, an intelligent knife that can sniff out tumors. They did not look at the product, but rather at the job the customer hired the product to get done. Us- ing jobs-to-be-done thinking, they asked themselves: “What job is the surgeon trying to get done when hir- ing surgical knives for cancer treatment?” Customers measure the value of a solution (the product) by how many outcomes it satisfies of the job they want to get done. An outcome is measured by the time it takes to get a job done, the likelihood of an error, and the amount of resources involved. When removing cancerous tissue, a surgeon’s outcome is to minimize the likelihood of leaving bits of the tumor in the patient, which can regrow afterwards. He also wants to minimize the time it takes to identify whether the cancerous tissue was fully removed. The developers of the iKnife focused on these out- comes. They modified a surgical knife that uses heat to cut through tissue so surgeons can now analyze the smoke given off when the hot blade burns through tissue. The smoke is sucked into a hi-tech “nose” called a mass spectrometer, which detects the subtle differences be- tween the smoke of cancerous and healthy tissues. This information is available to the surgeon within seconds. As a result, the iKnife helps surgeons get the job done a lot better than a common surgical knife. Dr. Zoltan Takats, who invented the system at Imperial, told BBC News: “The iKnife provides a result almost instantly, allowing surgeons to carry out proce- dures with a level of accuracy that hasn’t been possible before.” Jobs-to-be-done thinking identifies true customer needs to develop solutions and offerings like the iKnife that add value for the customer. Looking at the job- to-be-done can turn a commodity product into a great business opportunity. By Martin Pattera Innovation Excellence Starts with Different Thinking Business P001-118-BAGC3-R5D1b2a1B3.indd 114 15-3-7 下午12:36 Apr. 2015 115 WWW.BOAOREVIEW.COM New business opportunities in financial services Take an example of a financial services company, to see how job-to-be-done thinking guides an innovation process resulting in cutting of unnecessary costs and inefficiencies while delivering superior customer value at the same time. Traditional banks offer personal advisories that aim to support clients with all their financial tasks. In exchange for their services, they charge fees – monthly debit card fees, account maintenance fees, low balance fees, overdraft fees and so on. When Joshua Reich, Shamir Karkal and Alex Payne founded the banking service Simple, they looked at the whole banking process from a different viewpoint. They realized that customers do not want to do the job of making transactions, checking their bank account balance or finding out which is the right saving product for them. Instead, the job customers want to get done is to hire a financial service product to manage their finances. This viewpoint is what we call job-based thinking. With this conceptual model in mind, and pooling their experiences from technology industries, the founders created a banking service that focuses on helping customers manage their finances in a nev- er-before-reached grade of simplicity and comfort. Simple is not a bank. Instead, it cooperates with banks to handle all of the typical banking chores and focuses on building a better banking customer experience. It gives customers instant access to purchase data, both online and through apps, allows them to plan their budget, and set up and track their savings goals. Customers can automatically put a certain amount of funds towards their goals every month or analyze their spending and saving behavior through extensive re- ports. “The real hope with these features is that we could do something that people have been trying to do, but that’s been difficult to do,” said Joshua Reich, founder and Chief Executive of Simple, in an interview with VentureBeat. The customers agree. Just one year after its official launch, Simple announced that it is pro- cessing more than $1 billion in transactions per year. Clearly using this product is helping customers get their banking jobs done better. With its well-thought-out and appealing design, the service platform Simple can reduce customer service staff and save on costs like facilities and bank accounts. At the same time, it offers superior customer value by getting the customers’ job of “managing finances” done better and easier than other banking providers. Studies show that depending on the industry, up to 60% of people are willing to pay more for simpler experiences and interactions. For simpler experiences, people would pay up to 5.5% more in general insur- ance and up to 6% more in retail banking. Job-based thinking helps companies to identify true customer needs and develop concepts that clearly target these customer needs. This reduces additional costs and in- efficiencies in the product and in its usage. Looking at the jobs-to-be-done rather than simply lowering prices can turn one product into an entirely new market. Success in innovation comes from a deep understanding of the job the customer is trying to get done. If segments are built around customer needs rather than descriptive criteria, business development can focus on delivering real customer value and the price will no longer be the main purchasing criterion. P001-118-BAGC3-R5D1b2a1B3.indd 115 15-3-7 下午12:36 116 Apr. 2015 Escaping the commodity trap in a machinery industry company For many years, producers of machinery like wheel loaders or excavators used in the building and con- struction industry have been trying to optimize their products by listening to the voice of the customer. But still the price of the product is the main purchasing criteria, forcing the producers to lower the prices again and again to compete in their markets. Jobs-to-be- done thinking helps to escape the commodity trap. Traditionally, markets in the building and construc- tion industry are segmented by demographic criteria like company size, customer industry or application area. So did Liebherr, a producer for wheel loaders. It segments its product portfolio into four categories in line with the industry standard: building construction, underground construction, road building and land- scape construction. But after conducting a job-to-be-done market anal- ysis and asking more than 250 wheel loader drivers about the outcomes they want to reach when using a wheel loader, Liebherr realized that there were groups of customers with similar needs in every segment cate- gory. In other words, the existing descriptive segmen- tation criteria failed to unite customers with similar needs! As a consequence, Liebherr segmented the market around the identified over- and unsatisfied customer needs and identified four segments with totally differ- ent requirement profiles. The new segment structure was the starting point for several measures that had an immense effect on the company’s profitability and growth. First, Liebherr found out that the existing products already perfectly served the needs of one of the most relevant segments, but the company did not communi- cate this. As a consequence, Liebherr repositioned the existing wheel loaders and changed its communication message by emphasizing the outcomes that were found to be relevant for this segment. The results of the job-to-be-done market analysis also showed that the needs of two other segments could not be optimally met by the existing product portfolio. Consequently, Liebherr developed two completely new wheel loader models by using the results of the job-to- be-done market analysis as input for the technical spec- ification. The new wheel loaders had significant lower production cost, while at the same time offering better functionalities and higher security. They won several international innovation and design awards and their sales rates are 30% higher than the previous product line. Job-to-be-done thinking is the vehicle to identify the true customer needs. If segments are built around cus- tomer needs rather than descriptive criteria, business development can focus on delivering real customer val- ue and the price will no longer be the main purchasing criterion. This article is also the preface to the Rural Financial Development Report 2015, with the title provided by the editor. Martin Pattera Managing Partner of Strategyn iip Innovation in Progress GmbH, Austria; Founder of Austria’s PFI - Platform for Innovation Management; Guest Lector at the Vienna University of Technology and Vienna University of Economics and Business Administration Business 博鳌观察第十期英文.indd 97 2014.9.18 3:39:42 PM P001-118-BAGC3-R5D1b2a1B3.indd 116 15-3-7 下午12:36 博鳌观察第十期英文.indd 97 2014.9.18 3:39:42 PM BETTER POLICIES FOR BETTER LIVES www.oecd-ilibrary.org OECD’s global knowledge base 博鳌观察第十期英文.indd 98 2014.9.18 3:39:43 PM Document Outline
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