Two separate people at the Fortune Innovation Forum told me they loved the futurethink breakout session “Food for Thought Workshop.” If you’re curious, as I am, about what you might have missed, here is a recent webcast from futurethink CEO Lisa Bodell.
You’re welcome.
I went to the “Innovative Story Solutions” session yesterday afternoon at the Fortune Innovation Forum, put on by The Moth, a storytelling group from New York.
So what the hell do stories have to do with innovation and business? Well, a lot of corporate life is about selling your ideas–to colleagues, bosses, customers and partners. And a compelling, concise story will work better than a Powerpoint any day.
Here are the main aspects of storytelling discussed at the workshop:
The workshop was highly interactive. Groups of six had to select a story and nominate a storyteller, prepare for twenty minutes (twenty minutes!). The storyteller then stood in front of the room and told the story. Great job by the participants, and the brave storytellers as well.
innovation, sales, narrative, Fortune Innovation Forum, business
By the way, Sophie’s artwork is all over the Innovation Forum. It creates a very integrated, organic feel to the entire show.
Panelists were:
Chad Holliday, CEO of DuPont
William McDonough, architect specializing in sustainable design
On a 1-10 scale – the current state of sustainability in today’s business (1-completely constructive, 10-completely sustainable):
McDonough – 4, Holliday – 3
Holliday said that it’s criticial that business and government agree on the “rules of the road”–legislation–so American business’s creativity can respond.
Most pressing issues: Holliday: use of water, greenhouse effect.
DuPont has been working on biological research for 15 years, and now have learned how to use corn and other renewable materials to generate polymers, rather than using petrochemicals.
The rise of oil prices has been a catalyst for manufacturers’ adoption of these new materials. The marketing message is value to the consumer–the manufacturer uses the “green” to help market the product, though it can’t command a significant price premium.
Cellulosic ethanol is a strategic product, and they are working on a biofuels joint venture with BP.
McDonough worked on the new Ford Rouge plant. World’s largest green roof (10.5 acres)–vegetation and a dozen species of birds live there. The roof absorbs greenhouse gas, keeps temperature more stable, reduces the wind load on the building. Business case was as follows: Ford would have to pay $48MM to come into compliance with the Clean Water Act using traditional building methods. The sustainable technologies approach cost $13MM for roof, permeable parking lot, etc.
He also worked with Herman Miller to design a cradle-to-cradle chair. No petrochemicals, easily disassembled and remanufactured. A key value proposition is that Herman Miller will easily retain the customer, since they will come to collect the chair when you’re done with it.
(picture: Ford’s Rouge Plant)
Interesting observations from this afternoon’s CEO discussions at the Fortune Innovation Forum. Brian France of NASCAR and Brad Anderson of Best Buy spent time speaking of their company’s weaknesses and failures.
France said that NASCAR is weakest in how they are covered by the media. (”We are not the home team, and no one writes about us on Tuesdays or Wednesdays.”) But rather than complain about this or feel victimized, he used it as a rationale for investing in and improving NASCAR’s own new-media initiatives.
And here’s a good quotation from Brad Anderson. “I am 57 years old. I don’t have a clue of what most Best Buy shoppers are like. But our people at the stores do. If I can listen to the right people, this organization has a future. If not, I should be out of here.”
I’m a word person. I love what words can communicate. But in his session at the Fortune Innovation Forum today, Tom Wujec convinced me that expressing complex ideas visually is essential to communicating in today’s business environment.
Edward Tufte, in his books, did a great job in describing how to strong graphics can present very complex information very succinctly and effectively. Tom’s presentation built on those ideas by tying key types of communications to certain phases of the product development cycle.
His most impressive example was a map that was created and used by Fairchild Semiconductor to communicate their turnaround strategy. It enabled them to communicate and instill the same message across fifteen countries and ten languages.
Here at the Fortune Innovation Forum, David Kirkpatrick of Fortune Magazine is interviewing Bob Nardelli of Home Depot.
In the recent past they’ve focused on innovating in technology–self-checkout has reduced queue times 30% in Home Depot stores–and design–improving store layout, signage and lighting to allow people to find products faster.
Now, their biggest focus is innovating in merchandise – today they announced OrangeWorks, a partnership to accelerate designing new proprietary products for Home Depot stores.
Why isn’t being a better retailer enough? Because they want to be an attraction to the community. Distinctive merchandise will both draw in more shoppers and have them leave with more stuff.
They’re focused on growing markets such as outdoor living–more upscale grills, patio furniture, etc.–safety & security, and aging in place.
innovation, strategy, retail, Fortune Innovation Forum, business
[October 2007 - see an updated post on "The Future of Management" here.]
Gary’s topic is: What is the future of management? Have we reached the end of the road in management innovation?
Most sustainable, longest-lasting innovation
Management Innovation
Industry Architecture Innovation
Business Model Innovation
Product Innovation
Operational Innovation
Least sustainable, shortest-lasting innovation
Radical management innovations of the past:
Management innovation is radical when the reaction to the change is contrary–how can they do that? (e.g., Microsoft’s reaction to the open-source movement)
What’s next?
Areas to explore:
Gary’s hierarchy of human capabilities:
Good morning from the Fortune Innovation Forum. Pictured to the left is the Innovator’s Studio, one of the exhibits here at the conference. I’m sitting here on the right side of the Jazz At Lincoln Center auditorium, three rows back, near the only power strip I could find.
In front of me is Tom Wujec of Autodesk. He’s speaking later today, and will be visual blogging the conference. What is visual blogging? Stay tuned and I’ll get you the URL.
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