The recent tragic and historic outbreak of the Coronavirus once again reminds us all of the frailty of the human condition and the delicate balance of our new global business world. Just 20 years ago when the Avian Flu (H5N1) reached maximum impact in Asia, many people around the world could look at the map and think they were “safe” or it “can’t impact me” because there was limited access to China and other parts of the region. We all forget that full and direct access to the mainland via daily direct flights was only achieved with the last 10 years.
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The R&D professional who had just completed the R&D business simulation had a strange look on his face. When I asked if he was ok, he simply said, “If I knew then what I just learned, I would have saved the company hundreds of millions of dollars. Wow, I get it now.”
He was referring to an experience he just completed utilizing a customized business simulation workshop which was focused on teaching R&D professionals business acumen skills. In the simulation, small teams take over the role of Executive Vice President, R&D for a global consumer packaged goods company and have the opportunity to relaunch a cleaning product used on and inside home cleaning robots. Oh, and the year is 2030 so people don’t think the business simulation is unrealistic. Some of the decisions learners are required to make include the configuration of the cleaning fluids including their packaging, form, viscosity, fragrance, rust repellent levels, color, and much more. In the relaunch they must think about capital investments, market potential, and of course competitive analysis. There are different case studies within the business simulation that focus on different segments and challenges such as how to relaunch the brand for a completely online customer segment or for consumers who shop exclusively in big box stores like BigMart (the simulation world’s equivalent of Costco.)
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When asked for their top challenges in leading organizations, many executives and managers will share, “a lack of urgency and a lack of a culture that feels a sense of urgency” at the top of their lists.
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Leaders of innovative companies love to advocate theories and platitudes about how they are able to “Fail-Fast-Forward,” create cultures of continuous improvement, and disrupt markets seemingly with magic pixy dust. Business school case studies and examples of successful companies make it seem like it’s easy to succeed in business and the great lore of American ingenuity is that anyone can become a billionaire with a good idea, a garage in silicon valley, and a few investors looking for the next Google.
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I read with sadness the passing of Clayton Christensen who left us too early at the age of 67 years old. Christensen, who Forbes called one of the most influential business theorists of the past 50 years, was a best-selling author, Harvard Business School Professor, and avid business simulation creator. His book, “The Innovator’s Dilemma” was one of those rare works that changed the world of corporate strategic thinking forever by presenting a framework for how innovation takes place and why it is a common archetype for existing market leaders to fail at seizing the next wave of innovation in their markets.
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