Embracing Ecosystems: Issue #7
Michael Sinz
Director Strategic Business @ Endress+Hauser | MBA, Strategic Account Management
Author: Stefan Raabe
The question is not whether we are able to change but whether we are changing fast enough.
– Angela Merkel
This quote caught my eye in a book that inspired me. It also discusses the five emerging forces, including the changing nature of the world. Scott Sorokin in CIO Magazine noted that human knowledge, which doubled every century until 1900, now doubles every twelve hours. This knowledge explosion, combined with global disruptions like pandemics, technological advances, and climate change, has led to significant societal shifts and upheavals in industries. No individual or organization can "know it all," but the ability to "learn it all" is essential for survival and growth.
Peter Drucker’s quote, “if you want something new, you have to stop doing something old,” can be understood in the context of competition. Traditionally, competition meant striving to be the best by outperforming others. However, the original Latin meaning of "compete" is "to strive together." Pete Carroll, former coach of the Seattle Seahawks, sees competition as a quest for personal excellence—being the best you can be.
In our complex world, collaboration is crucial. Organizations are recognizing that value creation happens in collaborative ecosystems, where stakeholders with common goals work together. IMD Lausanne , a leading business school, explores these ecosystems. Dr. Louise Muhdi , IMD Affiliate Professor, emphasizes the need for organizations to champion collaboration. She advocates for a shift from closed innovation to embracing diverse perspectives and value co-creation.
Co-creation, both digital and non-digital, offers innovative solutions, challenges assumptions, and fosters a "learn it all" mindset, accelerating innovation and cultural shifts within organizations.?
Co-Creation
How can organizations implement successful co-creation?
Implementing successful co-creation in organizations involves a series of steps that foster collaboration, innovation, and openness. Here are some key steps:
1. Cultivate a Co-Creation Mindset: It’s essential to foster a culture that encourages collaboration, innovation, and openness. CEOs must embrace the principles of co-creation and create an environment where employees, partners, and customers feel valued and heard.
2. Identify Opportunities for Co-Creation: Identify areas within your organization where co-creation can make the most significant impact. This might include product development, marketing campaigns, or even operational improvements.
3. Assemble the Right Team: The team should consist of individuals who are open to new ideas, willing to collaborate, and have diverse skills and perspectives.
4. Define the Goals and Scope: Clearly define what you hope to achieve through co-creation. This includes setting clear objectives, defining the scope of the project, and establishing key performance indicators.
5. Co-Create Solutions: Engage with employees, partners, and customers to gather insights and identify pressing challenges that can be addressed through co-creation.
6. Implement and Iterate: Once a solution has been co-created, it’s time to implement it. Remember, co-creation is an iterative process. Be open to feedback and willing to make changes as necessary.
7. Measure and Celebrate Success: Finally, measure the success of your co-creation efforts. This could involve tracking key performance indicators, assessing the quality of the co-created solutions, and celebrating successes.
How can organizations overcome barriers to co-creation?
Overcoming barriers to co-creation is a critical step for organizations aiming to foster innovation and collaboration. Here are some selected strategies that can help:
1. Understanding the Dynamics of Co-Creation: It’s important to understand the dynamics of co-creation within and between various actors, such as academia, government, industry, and societal partners. This understanding can help in addressing challenges and leveraging the strengths of each actor.
2. Breaking Down Barriers to Co-Production: Organizations need to identify what is holding back co-production and find solutions to break down these barriers. This could involve changing organizational structures, processes, or culture to facilitate co-creation.
3. Promoting Open Innovation: Embracing open innovation can help organizations overcome obstacles to co-creation. This involves sharing knowledge and ideas freely and collaborating with external partners.
How can organizations measure the impact of co-creation?
Measuring the impact of co-creation can be challenging but is essential for understanding the value generated by this collaborative process. Here are some methods that can be used to measure the impact of co-creation:
1. Performance Indicators: Identify relevant Objectives and Key Results (OKRs) for the co-creation objective, such as increased sales, improved customer satisfaction, cost reduction, or increased innovation.
2. Tangible Results: Look at the tangible outcomes of the co-creation process. This could be a new product, service, or solution that has been developed as a result of co-creation.
3. Engagement and Collaboration: Measure the level of engagement and collaboration among the participants in the co-creation process. High levels of engagement and collaboration can indicate a successful co-creation process.
4. Organizational Impact: Evaluate the impact of co-creation on the organization. This could include changes in organizational culture, processes, or structures as a result of co-creation.
5. Comparison with Goals and Expectations: Compare the outcomes of the co-creation process with the initial goals and expectations. This can provide insights into the effectiveness of the co-creation process.
Remember, co-creation is a journey, not a destination. It requires continuous learning, adaptation, and commitment from all parties. By overcoming barriers, organizations can unlock the full potential of co-creation and drive meaningful change.
In customer-supplier relationships, co-creation enhances products and services, improves customer satisfaction, and strengthens relationships. Customers provide valuable insights, and suppliers can tailor their offerings to meet customer needs better.
In conclusion, collaborative ecosystems and co-creation are essential for solving complex challenges and unlocking new opportunities for innovation and growth. In my next newsletter, I will explore how this relates to your work and Endress+Hauser Group and its impact on the Life Sciences Industry. Stay tuned!
"The best way to predict your future is to create it."
– Peter Drucker
Why don’t we take his quote literally, and do it together?
I thank these sources for inspiring me:
Sources (i.e., Books) used in Newsletter:
1.????? Trust and Inspire – Stephen M.R. Covey
2.????? GRIT - Why passion and resilience are the secrets to success – Angela Duckworth
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Your Action Plan:
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Better Change Coach | Master of Management Development (MMD)
4 个月I agree that co-creation should not be done for the sake of co-creation, but for what it provides: Better outcomes due to the different perspectives and the collective knowledge of the group. As co-creation might feel like a slow process, an essential leadership skill becomes the right balance between patience and pacing people. A skill that calls for a high degree of emotional intelligence. Once you master this, co-creation will accelerate the implementation as the individuals in the group are more likely to support and promote the change. This is due to them feeling involved in the decision making and the result having their fingerprint.
Senior International Strategic Account Manager at Endress+Hauser Group
4 个月Great piece! I believe that trying to find shared motivation and shared rewards is an integral part of the process, especially early!
CEO-Founder of INEXHAUSTIVE (r) - Knowledge Management - Is it a Myth or a reality ? I deliver Knowledge Management strategies or help you to develop KM enablers. A KM program leads to a profitable Return on Investment.
4 个月Fully in line with a global KM strategy !!!
Co-Founder
4 个月Stefan Raabe ???? Collaboration and co-creation makes a lot of sense when viewed from the perspective of “infinite games” (Prof James P. Carse) where the purpose is to perpetuate the play over infinite time horizons (across generations) by learning and growing to become better than themselves. This is in contrast to those with a “finite game” mindset where the purpose is to win by beating the competition and survival is the primary goal. They are obsessed with eternal life (which is degenerative and futile) instead of eternal birth (which is generative and sustainable).
Super! And co-creation should also be used for strategizing!