1 Chapter 8 - International Strategy MGNT428 BUSINESS POLICY & STRATEGY Dr. Gar Wiggs, Instructor.
On Innovation and Failure: IITP Conference Oct 25 2013, Lance Wiggs
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Innovation and Failure Lance Wiggs Punakaiki Fund IITP Conference, 25 October, 2013
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Just as Punakaiki Fund was closing well short of the $5 million minimum, I gave a speech to close out the IITP annual conference. I was asked to talk about innovation and to be inspiring as the conference ended. This is the slide deck from that speech. A video of the speech is also available. http://vimeo.com/78002783
Transcript of On Innovation and Failure: IITP Conference Oct 25 2013, Lance Wiggs
Innovation and Failure
Lance Wiggs Punakaiki Fund
IITP Conference, 25 October, 2013
What is innovation?
Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.
!e Unexpected
!e Incongruity
Process Need
Industry Structure
Demographics
Perception, Meaning
New Knowledge
𝟕 Sources of Opportunity
!e Prize
120 companies
120 inspired entrepreneurs
An additional $40 billion/annum in exports (double our present exports)
"e great challenge
Why would such businesses want to stay
in New Zealand?
“A place where great talent wants to live”
$40 billion
$40 billion
$140 billion GDP
$12.5 billion Education spend (2013)
$58 billion Core Crown tax revenue, FY 2013
$14.5 billion Health spend (2013)
"e World
"e Country
End Users & Customers
Suppliers
Government
Staff
Investors
You
!e Path
INVESTORS COMPANIES CUSTOMERS END USERS
Have funds
Seek returns
Create products
Seek paying customers
Have money
Seek value for end users
Have unmet needs
Seek delight
TECHNOLOGY
INVESTORS COMPANIES CUSTOMERS END USERS
Have funds
Seek returns
Create products
Seek paying customers
Have money
Seek value for end users
Have unmet needs
Seek delight
© 2012 Emirates Team New Zealand
Learn Grow Expand Return
Eric Ries, !eLeanStartup.com
“Startups exist not to make stuff, make money, or serve customers. !ey exist to learn how to build a sustainable business.”
Question: When will we see in the annual report, bo#om line: profitability?
Do the basics
Us
Do I have any power?
lusakatimes.com
Lusakatimes.com
Is there a path ahead?
Memo to the Boss of Bosses
We need to change, and here is why, and what I suggest: 1. !e team is under-delivering versus goals 2. We have no goals to begin with 3. And the team itself is demotivated And I suggest: 1. We set goals for the team 2. We begin monthly/weekly reviews 3. We appoint a team leader. Me
Grow
Dear Boss of Bosses,
Goodbye.
Systematic innovation consists in the purposeful & organised search for changes and systematic analysis of opportunities such changes offer for economic or social innovation.
"e World
"e Country
End Users & Customers
Suppliers
Government
Staff
Investors
You
