Americans spend almost $1 billion on petrol every 24 hours

Home > Archives

Strategy

Organizations are faced with significant challenges, particularly with the continued impact of globalization, heightened market competition, rapid business model change and the impact of new technologies. They must continually challenge themselves to keep up with rapid change in the business environment in which they operate -- Jim Carroll



A Memo to the CEO
November 1st, 2016

 

 

To:           CEO’s Worldwide

From:     Futurist Jim Carroll

Date:       November 1, 2016


 

I know things are extremely busy, particularly given the current climate of economic uncertainty. Yet, there is a key issue that you need to make sure is on your agenda.

Innovation.

The most important thing that you can do right now, as you work to navigate your way through the challenging economic shoals that surround you, is to make sure that you don’t kill it in its tracks. My observations are that you risk doing so. That’s worrisome.

Read more – click for a higher resolution — or access the PDF

 

memototheceo memototheceo-pg2

 

We have seen more change in the last 5 years than we have seen in the last 100 – and yet there is much more yet to come.

dsc_4714x560

2017 will prove to be a watershed year as trends continue to accelerate. Self-driving cars, the Internet of Things, business model disruption, hyper-competition and hyper-connectivity, collaborative innovation, scientific acceleration, exponential technology, rapid product innovation, faster market change, empowered consumers — are you ready and focused on the trends that will continue to provide opportunity and challenge going forward?

Every year, organizations kick off a new year by bringing me in for a senior executive leadership meeting or corporate offsite strategic planning session, to get a clear and concise overview of what comes next, and what they should do about it.

2017 is almost here — are you prepared, and ready to kick off the year with the powerful insight that you need to know to move forward?

I’ll take you on a tour of the trends which are reshaping our world in a great way. Big transformative trends involving a renaissance in manufacturing enabled by 3D printing, advanced robotics and massive digitization, self-driving cars and the impact of intelligent highway infrastructure, space tourism, asteroid mining, vertical farming, and other fascinating fast paced trends!. Opportunities for the transformation of entire industries such as healthcare, sports and transportation through unprecedented levels of hyper-connectivity. The acceleration of ideas with science that are allowing us to solve some of the biggest challenges of our time in the world of education, healthcare, the environment and education. A generation of millennials who know that it is a great time to think big ideas and do great things with their boundless enthusiasm and global awareness.

It’s time to turn your mind to the future once again, restore a sense of hope and optimism, and link yourself to the fast paced trends which energize your outlook on opportunity! After all, 2017 is almost here! My clients include Disney, the PGA of America, NASA, Johnson & Johnson, the Swiss Innovation Forum and more — join this elite company and re-energize your view into the future.

Interested? Call me!

The NEST Learning Thermostat is a great example of the type of typical business model disruption that we are going to witness in every industry through the next decade!

Give it a few years.

You won’t even recognize the industry you are operating in.

That’s because the rate of business model change is accelerating in every single industry. Here’s why:

  1. Right now, there are probably a bunch of really smart people figuring out to disrupt your business model
  2. If you aren’t busy thinking about to disrupt your business model, they most certainly will.
  3. They’ll probably do this sooner than you think they will.
  4. The result is that 10 years out (or less), your business model will look nothing like it does today.
  5. Those that do mess up your business model are quite likely to be younger than you; for many folks, age provides for complacency.
  6. The fundamental change to your business model driven by this younger generation will be the result of digital, smart, intelligent, location-oriented technology.
  7. They’ll use this technology in such a way they’ll come out of left field with a business model idea that you’ve never even thought of before.
  8. Their business model will carry an undeniable ‘coolness factor’ that you can’t simply match.
  9. Most likely, you’ll discount the importance of their innovation, until it is much too late.
  10. The result will be dramatic change :its likely that your current business model will not even survive: and your company might not as well!

Examples of this type of disruption are occurring all around us right now.

It’s going to happen to you too. So — what are you going to do about it?

 

Do you?

It can be difficult to try to be innovative in many organizations. Many people with an innovation-oriented mindset often find their enthusiasm destroyed when they approach senior management with an initiative. And when their effort is turned back, it can extremely frustrating!

hirepeopleyoudontlike

What happens is that a series of excuses are made as to why we don’t need to focus on the future right now:

  • we don’t understand it, so we don’t think we need to do it!
  • maybe we shouldn’t confront the tough issues right now
  • we are too busy fighting fires – there’s no time for anything else!
  • we don’t have the skill sets to deal with this!
  • we haven’t thought about this in our strategic planning process
  • we don’t have time to think about it…
  • we don’t have a budget f
  • what we’ve been doing all along is perfectly ok, isn’t it?
  • there’s so much going on, and we don’t know where it might fit in terms of priorities!
  • and the worst? it’s too far ahead of its time!

Of course, it’s easy to take this wall of negativity and step back from the project and curb your enthusiasm — and give up! Here’s a clip from my keynote in Zurich in which I talk about the challenges you might face.

But real innovators don’t give up! They work to address the organizational sclerosis that might be in place. What you should do  is confront these excuses head on: there are a variety of different reactions depending on the different excuses that are used:

  • if they don’t understand it, educate them! This might involve building a better business case for the initiative; bringing them up to date on the key business drviers and trends that require some bold steps and dramatic change.
  • help them that those who tackle the tough issues usually win. This is a good time to put into perspective the concept of accelerating change. You need to make sure that the leadership team understands that everything around us today is changing faster than ever before, and will continue to do so: business models, methods of customer interaction, new forms of competition. Business today is all about continually confronting a flood of tough issues; we should be bulking up our capabilities to deal with a world of incessant change.
  • if the organization is always in fire-fighting mode, change the agenda. Maybe they won’t be fighting as as many fires over the long term if they have a clear view of the future, and have a strategy that aligns to that future. So rather than asking, “whoah, where’d that come from,” they’re asking “ok, what comes next, and what do we need to do about it?
  • skill sets don’t give us the capability: That’s a weak excuse: if there are shortfalls in certain key skills to deal with current business realities, deal with it and fix it fast.
  • if it’s not part of the strategic planning process, make it part of it. Every organizations has multiple processes in which issues and activities rise to the top because they’ve been idenitified as fitting within the overall strategic plan. If yours isn’t part of the plan, work to get it there.
  • get people thinking about what comes next: Does the organization have a regular series of forward looking leadership meetings? Does it take the time to assess the trends which might impact it on a 1, 2, 5 and 10 year basis? Is it busy looking at we have really spent a lot of time thinking about what comes next
  • we don’t have a budget for that! Following the process of getting the initiative into the strategic plan will help to lead to the next step: getting the project properly approved and funded within the overall budget process for the organization.
  • make it clear that it isn’t ok to keep doing the same thing that has been done in the past. You’ve got to clearly articulate the new threats the organizations faces and the opportunities that it can pursue as a result of ongoing change.
  • there’s so much going on, and we don’t know where it might fit in terms of priorities! This is a tricky one, because in this type of situation, its pretty well certain that there is some weak management in place who doesn’t know how to set a clear action plan that the team must follow. Best bet is to address the other issues on the list, and work to put in place a clear business and strategic plan for your initiative, with sound business reasoning as to why it needs to be done.
  • it’s too far ahead of its time! Frame the future to the organization this way: do we want to always be fast followers, or do we truly want to be market leaders?

In Zurich,I noted on stage that “we develop corporate cultures that stifle — that kill our ability to try to do anything new…..” That’s what you’ve got to work to avoid — it’s not easy to do — but absolutely necessary!

Keynotes: A Note on Customization
September 15th, 2016

I’m about to head out the door to Amelia Island, Florida, where tomorrow morning I will do a talk for a small group of senior executives from the insurance industry — both property & casualty as well as life insurance companies.

I’m thinking its going to be a great talk — built around the theme, “10 Realities and Opportunities with Fintech Disruption.”

As with most talks, there’s been an extensive amount of research — conference calls with the client, not to forget 479 highly-specific articles on trends impacting the insurance industry.

fintech

What’s involved in building a great keynote? Detailed research, such as these articles on the future I’ve insurance that I’m reading through. If you want real insight on future trends and opportunities for innovation that are specific to your industry, give me a call.

On the flight down, I’ll fine tune my presentation, and wade through these articles once again.

I tweeted about this a week ago:

479 articles on the future of #fintech #insurance that I’m reading today – for my keynote in Florida next week for major insurance CEO’s/CxO’s. Some speakers offer pap. Others *customize*. ”Creating a great keynote” -> https://www.jimcarroll.com/keynotes-workshops/creating-a-great-keynote/

This type of research helps me build a keynote that has detailed, industry specific information, such as these nuggets:

  • 2/3 of insurance CEOs see tech as both opportunity & threat” -from a PWC study. (Of course, it makes me wonder — are the rest asleep?
  • nearly 70% of insurance CEOs see the speed of technological change as a threat to growth and more than 60% are concerned about shifts in consumer spending and behaviour

This ties in with other specific, detailed research I’ve undertaken, not to forget the fact that in the last few years, my keynotes have involved audiences that have included the CEO’s of most major North American and global insurance companies.

My keynote includes observations from a  session I did in Philadelphia that included a private one-on-one with the CEO’s of the top 10 P&C companies in North America. 10 years ago, I had the CIO’s for the top 15 P&C/life companies in for a private meeting that went on for two hours.

People book me because they want real insight .

And that’s the reputation I’ve built in the industry — specific, detailed, information and statistic rich presentations that don’t offer motivational pap — but real concrete guidance on strategies, opportunities, challenges and innovation.

If you want real insight on future trends and opportunities for innovation that are specific to your industry, give me a call.

We can talk about the specific ways in which I can help.

 

Here’s a keynote that will leave your audience members shaking in their boots at the same time they are ready to jump out of the gate and achieve great things!

Two powerful, inspirational keynotes back to back — my message around “The Future Belongs to Those Who Are Fast,” and that of Larisa Yurkiw, global ski racer, Olympian and World Cup Racer, on a “Daring Need for Speed

Every industry, business and profession now realizes that acting fast is one of the key metrics for success in the future. These two keynotes — at the start and conclusion of your event – provide the perfect bookends to what will be amazingly energized event!

To that end, you’ll want to understand Larisa’s story! Then, contact me for details on how to book us!


As an optimistic futurist, I’m always looking for the upside — I believe that the only way to move forward is to have an upbeat attitude on what you can do to shape the future in a positive way, rather than the easy way out of denigrating the potential of what comes next. It goes to one of my main points on stage: “Some people see a trend and see a threat. Real innovators see the same trend — and see an opportunity!”

wip-larisa-yurkiw-jan-22-2016-downhill-training-run

Larisa Yurkiw is one of the top 3 downhill ski racers in the world, an accomplished entrepreneur — and the first global athlete to combine these two skills in what has become known around the world as “Team Larisa.”

Which brings me to skiing!

At the age of  age of 39, some years ago, I somehow thought it could be an important cornerstone in my life and that of my family — that of becoming active, healthy and involved. If I was to live through my 40’s and beyond in good health — well, we should embrace winter!

So we took up skiing and my family became a family of skiers and snowboarders. I am so proud! (I could barely get down the baby hill the first few days – but in five short years, found myself skiing the Swiss Alps after I was the closing keynote speaker for the Swiss Innovation Forum.)

Little did I know that just about the same time, at my home ski club — a little bump of a hill in eastern North America known as Georgian Peaks — a young girl who was about 12 years old, was setting her own goals, determined to reach the podiums in her own life.

And did she ever succeed. Earlier this year, Larisa Yurkiw finished her career as one of the top-3 downhill racers in the world, racing with and sharing the podium with the likes of Lindsay Vonn, Julie Mancuso and others, on some of the most challenging courses in Switzerland, Italy and Austria, not to mention the Sochi Olympics. She challenged herself, dreamed big dreams, and established big goals — starting out a small little ski hill in Southern Ontario. During her racing career, she would hit speed of up to 140 miles per hour — and have to turn and balance on an instant.

Larisa

Looking for a unique keynote that focuses on the issue of growth, speed, and innovation? Larisa and I have talked about the idea of combining our story on stage into two powerful, back to back keynote presentations. My focus with organizations has always been that “the future belongs to those who are fast!” Larisa has demonstrated, through her racing career and her determination, that a “relentless focus on speed” is a powerful motivator for success! And on her own, she provides a powerful and compelling keynote: learn more at her site, www.larisaspeaks.com

Yet here’s the thing: Larisa’s story is not only personally motivating, but it also offers everyone fabulous unique business insight, and what happens when one if totally focused on a goal. For her, the racing career was a gruelling but ultimately rewarding trek. One that involved stunning disappointments, injuries and crashes that would  condemn most mere mortals to a life of stagnation — not to mention a national ski association that turned its back on her at a critical time.

With that, she persevered, and won on her own terms. Consider these simple facts, which Larisa now uses on stage in her own keynote presentations:

  • the average downhill racer hits forces of  3-5 G’s in a turn. Bode Miller  has been clocked at 12 G’s in a turn!! That’s more than the 3.5 G’s that astronauts experience in a rocket launch.
  • during her racing career, Larisa had 5 knee surgeries and 5000 hours of rehab — and yet still made it to the Sochi Olympics, and ranked in the top 3 in the world in subsequent World Cup racing season events
  • she raised $750,000 over the last 3 years in her ‘free time’ in order to ski for Canada – because the Canadian ski team felt like distributing the financial support elsewhere, and chose not to support her after a crash just before the 2010 Whistler Olympics. No funding? No problem. She set out to build her own racing team, and raised the funds through crowdfunding and constant, relentless and innovative approaches to potential sponsors

The rest of us would do very well to learn from her example, because it it a story of stunning courage, determination, focus, and passion!

In my own case, I’m honoured to have witnessed this singularly spectacular journey from the sidelines, and am in awe of the opportunity to call her a friend. These days, I’m providing her guidance as she takes on the new and challenging role of sharing her motivational story on stage. Learn more at her Web site, www.larisaspeaks.com

Which brings me to the movie Streiff: One Hell of a Ride.

If you want to discover a great movie, watch this one. It documents the gruelling training, preparation and mastery of the mind that is downhill skiing. If you crave for a movie with depth, this is the one that you want to watch. Do it now!

What struck me about the movie, when I watched it for the first time, was that the training for this most demanding of athletic competitions was beyond intense. The start of the movie focuses on 3 different downhill racing athletes and their approach to preparing for “one hell of a ride”.

To me, it seemed that each had an essentially different approach, that involved a focus on

  • agility: a racer that focused on a lot of exercise that involved the ability to quickly turn, change angles, and shift weight from one foot to another
  • balance : another racer seemed to build his training around the idea of balance and gymnastics
  • strength: one fellow training for the downhill is doing lunges UPHILL with heavy weights. Now that’s strong!

And while watching this, that jumped out to me as a powerful business mindset.

Given fast paced change with markets, customers, technology, business models and competitors, organizations today need to focus more on what they must do to respond. And that implies:

  • they need to have the agility to change quickly — before its too late
  • they must have the ability to balance their action against the reality of current demands — it’s a careful juggling act to keep one foot firmly focused on the future while the other provides a solid foundation for today
  • and they require a lot of core strength — whether it is skills and talent, determination to get ahead, or a leadership team that puts in place a solid foundation for growth

As you take your organization forward into the future, do you have the agility, balance and strength that is required? It’s a good question to ask.

Do you really want to challenge yourself in this regard? Larisa and I have talked about the idea that it would be great to combine our story on stage into two powerful, back to back keynote presentations. My focus with organizations has always been that “the future belongs to those who are fast!” Larisa has demonstrated, through her racing career and her determination, that a “relentless focus on speed” works out at the end of the day — in a pretty powerful way!

What do you need to be thinking about now when it comes to skills issues? Read my PDF  here or by clicking on the image.

21stcenturyskills

“Skills are Experiential. Skills are Generational. One of the most important assets that a company can invest in is “experiential capital”—that is, the cumulative knowledge the company has generated through innovation, risk, failure and success. Boost that skills capability and you’ve done something that flows onto the bottom line.”

 

The popular buzz is that manufacturing in North America is dead, dying, or in a continual state of decline. Politicians seem to want to wave a magic wand and ‘fix everything.’

That being said, the sector has already done a remarkable job in reinventing itself for a new world of digitization, changing business models, changes to process and optimization, competing in a post-flat world and other opportunities.

Here’s a clip from a recent manufacturing keynote I delivered in Chicago in which I look at some of these trends.

The International Manufacturing Technology Show is one of the largest manufacturing conferences in the world. I was invited to lead a panel discussion focused on how the industry has reinvented itself through innovation. It’s a quick, short clip that puts into perspective why manufacturing is leading the way in innovation.

I was recently interviewed by the UK based Automotive Megatrends magazine, for a special report for subscribers. It offers up my thoughts on the challenges and opportunities faced in the auto industry out to 2020.

AutomotiveWorld

Click the image for the PDF of the article…..

The full PDF version of the article can be found in the image here. The text follows below.


Jim Carroll on the automotive world of 2030

What’s coming in the next 15 years could be mind-boggling, says futurist Jim Carroll. As told to Martin Kahl

To paraphrase Bill Gates, most people tend to overestimate the rate of change that will occur on a two-year basis, and underestimate how much change will occur on a ten-year basis. Let’s put that in perspective: Think about the change that has occurred in the last ten years and then consider what might come in the next ten to 15 years: it could be mind boggling. Ten years ago, we only just had YouTube and FaceBook, but we didn’t have Twitter, and we didn’t have the iPhone.

One of the biggest trends that is unfolding, and one that will have a huge impact on transportation, is what I call hyper connectivity, or what people are referring to as the Internet of Things. Everything that is a part of our daily lives will be connected to the Internet – and that has massive implications.

As for how cars and trucks fit into this, there are two paths. One is full vehicle autonomy, the Google self-driving car trend. The other is the development of intelligent highway and intelligent road infrastructure that interacts with everything else via a variety of methodologies that will help the car to drive in a safe manner with a human inside. I don’t think it’s a discussion of whether we will all be either in autonomous cars or human-driven cars – I think there’s going to be a mixture of both.

But is the automotive industry doing enough to prepare for future drivers’ needs? I think the problems are several-fold. The famous image is that of a two-year-old child who walks up to a 50 inch LCD TV and starts pressing it, but she doesn’t get the level of interaction that she expects. Companies like Google and Apple, companies which operate at the speed of Silicon Valley, will increasingly impact the speed of change of vehicle technology, and I don’t think automotive companies are ready for that.

The car companies run the risk of falling behind unless they form very unique and innovative partnerships with some of those tech companies.

In 2003, I made up this little story that maybe Google could decide to become a car company. It wouldn’t actually build the car, simply have it contract manufactured. It wouldn’t have dealerships, the cars would be sold online and delivered to you by FedEx. The car would come in a box, and it would have party in the box too, so that you could celebrate with your neighbours. I was laughed at back then… But maybe that is the business model for the future.

Everybody wants to understand the future. Every organisation has people that plan for what comes next. I think the challenge for the automotive industry could be hubris, in terms of thinking the industry is too big for others to enter: “We’re the big car companies, we’re always going to be the big car companies. The competitors we have today will be the competitors we’ll have ten years from now.”

A car brought out in 2015 was probably modelled in 2009, tested in 2011, put into production in 2013, and sold in 2015. That car, by 2020, is going to look like it’s from the olden days. It’ll be like having an old-generation smartphone. That will have a huge impact on the resale value of that car. Because of how quickly technology becomes obsolete, automotive companies need to build in an increasing degree of modularity, so that the car can easily receive the latest technology updates.

I think that in 2030 we’re going to see a host of new business models. Rather than being based on runs of several hundred thousand vehicles that go into inventory, I see growth in business models that are based on build-to-demand. The sharing economy will shape business models in 2030. The automotive industry is already recognising, in some of its new initiatives, that an entire generation is rejecting the concept of buying a vehicle for a full time purpose.

In addition to the rise of hyperconnectivity and new business models, there are tremendous advances occurring with solar and alternative forms of power generation that will affect the automotive world of 2030. Innovative companies focus on innovation during periods of economic uncertainty so that they are well positioned to come out strong on the other side. It will be fascinating to see what emerges.