Placeholder Image

Subtitles section Play video

  • >> Experts say innovate or die. Three things your business needs

  • to do now to ensure future success. Next on "Modern Workplace."

  • >> Welcome to the live world premier of "Modern Workplace," the

  • show tailored for you, the business leader. Every month we take

  • you inside the minds of today's business and technology innovators.

  • We are your online source for ideas on the new ways to work.

  • I'm your host, Alex Bradley. And today's show is all about innovation.

  • Coming up, we will tell you about a new technology that is breaking

  • down language barriers, allowing you to conduct international

  • business in realtime in your own native language. And we reveal

  • a game changing technology that brings the power of predictive

  • analytics to enterprise business. Also, you will meet one of

  • the world's most prolific inventors of our time.

  • >> If the physics doesn't prohibit us from doing this really cool

  • thing, let's do it, even though there's no engineering roadmap.

  • Nobody ever used these physical principles to do it this way before.

  • That doesn't mean it can't be done.

  • >> Dean Kamen is known for his most famous invention the Segway.

  • And with 440 patents, you'll learn how he's turned his big ideas

  • into big business. And to kick off the show, today's hot topic

  • is innovation and business. We'll share three key strategies

  • every company needs to do now to guarantee future success.

  • For those of you who have already registered for this series,

  • please join the conversation. Send in your questions via the

  • chat window throughout the show. We are excited to welcome our

  • very first guest. She is the author of the "Wall Street Journal"

  • best seller "Think Like Zuck." She's a contributor to leading

  • edge print and online publications such as Forbes and Fast Company

  • and Ink and has led marketing innovation for Fortune 500 brands

  • Intel and Accenture. We're honored to welcome Ekaterina Walter

  • to "Modern Workplace." Welcome.

  • >> Thank you, Alex. Glad to be here.

  • >> You shared with me with a staggering statistic about the lifespan

  • of Fortune 500 company. What was that?

  • >> Yeah. So the average live span of Fortune 500 company used

  • to be about 70 years. Now it is about 15, and it is declining.

  • >> 70 to 15.

  • >> Oh, it is really amazing. Think about it, right? So we have

  • companies like Blockbuster, used to rent movies there all the time.

  • Now it is non existent. Companies like Palm. That used to be

  • the coolest device. Even that disappeared. But even RIM, Research

  • in Motion, Blackberry, right? Everybody was walking around, remember,

  • "Oh, what do you have on your Blackberry." It was equivalent

  • of iPhone. And because they failed to adapt, nobody is talking

  • about Blackberries anymore.

  • >> Now, speaking about failure to adapt and, you know, disruption,

  • one of the biggest trends that we see is company bringing innovation

  • labs or founding innovation labs. Why do you think we're seeing this?

  • >> Two reasons. I think it's just the sense of urgency, right?

  • The market is moving so fast. Innovation is moving fast.

  • People, especially millennials now, so younger generations, GenX

  • and Y and Z, they all demand speed so the amount of speed in

  • which you need to respond, no matter what function within your

  • business is critical. The other thing is who better knows your

  • business than you, so...

  • >> So having that little pool of talent that enables you to do that.

  • >> Absolutely. And where you can take your current business strategy

  • and extend from there.

  • >> Great. We'll we've got a quote here from the "Entrepreneur,"

  • and it says, "Given the pace of change that threatens established

  • businesses, having an internal incubator is like an insurance policy.

  • If the market moves, the companies are ready to change directions

  • or grow new business quickly." What's your reaction to that quote?

  • >> Cannot agree more. Though, I will say there is one caveat,

  • is and that's independence. So for the incubator to really truly

  • drive change internally, you have to give it independence and

  • you have to empower the decision making. So it

  • shouldn't be real easy for your executives to say, "Oh, you know what?

  • That's not working out. It is not in line with our business strategy,

  • let's scrap that."

  • >> Totally. Now, you mentioned speed. And that's really interesting

  • because we are seeing companies put products and features out

  • there much more rapidly maybe or arguably before they would be

  • viewed as finished. What are your thoughts on that?

  • >> Well, you know, in the "now" economy that we live in, in sort

  • of the digital age, there is nothing as far from the truth as "finished."

  • So I love Facebook mantras. They have two. One is: Stay calm

  • and keep shipping. And the other one is: Done is better than perfect.

  • And they ship code every single Tuesday. So that sort of productivity,

  • it is like being in state of constant beta. You are never really

  • done or perfect. You need to continue to reiterate and ask for feedback.

  • >> Taking that feedback and iterating really quickly.

  • >> Absolutely, absolutely.

  • >> Now, in order to be successful, you have written about breaking

  • down silos and created a connected company. What do you mean

  • by that?

  • >> It is understanding that innovation doesn't just happen in

  • an incubator or in, you know, marketing or in product development.

  • It happens across the company. So it's critical to break the

  • silos and work together. One fantastic example of that is Dyson.

  • The amount of information that comes out of it is staggering.

  • And why? It is because Dyson created those open spaces where

  • engineers can collaborate with marketers, marketers can collaborate

  • with legal teams, and everybody in the company is sort of invested

  • in the process.

  • >> I love that Dyson example. That's a good example of how physical

  • space can make that change. How else would you advise companies

  • to create that connected company?

  • >> Empower. So so empower your people. You need to understand

  • that people equals culture equals successful company, right,

  • including successful leadership. So empowering your people to

  • not be afraid to fail, to try things out, to take risks, and

  • not to punish them if they do fail. That's the type of mentality

  • that we need to promote.

  • >> Give them that right to fail.

  • >> Yes. Absolutely, love that.

  • >> We have another quote here from Forbes this time. And it says:

  • "During a brainstorming session, explain to your team that you

  • want them to go all the way to the edge. Any idea may be brought

  • forth but only if it's the most extreme version of its spectrum."

  • "Extreme," that sounds a little bit scary. What's your reaction?

  • >> Well, you know what they say about invasion, Alex. If you

  • are not pissing somebody off, you are not doing it right.

  • >> Absolutely. I love it. Well, we've got a question that's come

  • into the chat window. And the question is asking you to give

  • us an example of innovation strategy from a real live company.

  • >> Oh. Okay. So my gosh, there's a couple of companies that do

  • real well innovation space. One of my favorite examples, though,

  • I will use is 3M. They have and they've established it a long

  • time ago, a program called 15%, which basically empowers their

  • employees 15% of the time to work on passion projects. So projects

  • and the biggest revenue driving products for them, like, for

  • example, Post It Notes, was created by an engineer at home just

  • because he was passionate about bringing it to life. So they

  • allow people to collaborate outside of their current projects

  • to sort of help drive innovation, passion internally, and then

  • that eventually contributes to the bottom line.

  • >> So it is not just employee morale. It can also help with the

  • bottom line.

  • >> Absolutely, absolutely.

  • >> Fantastic. Well, when we come back, Ekaterina shares how to

  • drive this culture change and sense of urgency without creating panic.

  • Plus we will also be joined by the vice president of innovation

  • of Deckers brands, a global leader in footwear and apparel.

  • Why he says companies need to reset their expectation around risk.

  • >> If this new approach can be brought to scale, it could be a

  • better way for the world to move forward.

  • >> A skier's jacket is very complex. There are a lot of different

  • steps that need to be done. The challenge we're facing is about

  • the communication. So as a team, as I said, we're quite big and

  • located everywhere.

  • >> What Lync does for us is allows us to get together virtually.

  • >> We have had conference calls where we go through the samples

  • over Lync. Have the sample here in Hong Kong.

  • I go through step by step with the team in Norway, and we can

  • improve the sample on a conference call instead of traveling

  • back and forth to Norway. Without Lync, this wouldn't have been possible.

  • >> We don't have any office phones anymore. All the communication

  • is via Lync.

  • >> And we do the meetings and the calls also not only with heli

  • (phonetic) people but also with external supplies. And actually

  • we are using the new Lync Scott collaboration feature now as well.

  • >> I was sitting in a hotel room in Vancouver and doing a presentation

  • for our retail sales team. And they were sitting at our headquarter

  • office in Oslo.

  • >> None of us has English as the mother tongue. So it can be

  • quite important to show what you are meaning on a garment.

  • Instead of trying to explain I want the zipper to be 45 degrees

  • cross over the collar, what do you mean by that, I can actually

  • just have the video conversation and showing "like this."

  • >> What we really need to do is deliver the best possible jacket

  • to the skier that's up on the mountain. There is thousands and

  • thousands of steps that have to happen all over the world.

  • And anything that we can do to make that process more efficient,

  • more fun and end up with a better product, that's going to make

  • our brand stronger, that's going to make our business stronger,

  • and it's going to make the skier up on the hill a whole lot happier.

>> Experts say innovate or die. Three things your business needs

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 US innovation company absolutely incubator workplace dyson

Modern Workplace: Innovate or Die (episode 1, chapter 1)

  • 438 37
    大佑 posted on 2016/01/27
Video vocabulary