Welcome Welcome back to innovation training Today we’ll quickly recap the learnings from the last program Then turn our attention to trends, market research and scenario planning
Recap Last session we examined a number of strategic impacts that innovation can have on a business We sought to create clarity about the alignment of innovation to strategy We defined a charter and a “going in” model for innovation We began to define some innovation goals and measurements
Discussion Any thoughts or comments on what we covered last time?
Pre-work Each of you were assigned the task of identifying a number of relevant trends – societal, demographic, technical or competitive trends – that could impact Pacific or your specific idea What keeps you up at night and why? What could disrupt your service or industry?
Goals for this section Our goal this section – Introduce the concept of trend spotting and synthesis – Develop a consistent use of scenario planning based on trends, competitive moves and internal capabilities – Review other tools to gather insights – Map your strategies and your competitors strategies
Key Points Most of us are simply too focused on the day to day, not paying attention to the future – This results in very incremental approaches and consistent surprises We have the tools and the data to project alternative futures – Developing the synthesis and understanding what to do next is what’s difficult We want to identify important and unmet or undiscovered needs
Trends Decreasing foreign enrollment Increase in the “digital divide” College tuition and fees, adjusted for inflation, rose 439 percent from 1982 to 2007, towering over increases in medical care, housing and food, according to the report. Median family income rose 147 percent during the same period, the report said.
Other disruptions What are some other disruptions or disrupters to the education and university community? – IU 3+1 http://connect.educause.edu/Library/EDUCAUSE+Review/ADisruptiveInnovationArri/40688?time=1232382323 The essentials of the IU 3+1 program are as follows: a student transfers 90 hours of credit from a community college, takes 30 credit hours via distance learning from IU, pays in-state tuition rates for the IU courses, and receives a Bachelor of General Studies degree from a highly respected university – series of articles recently in the New York Times about video games and computers in education. One about using video games to hook children into reading, “Using Video Games as Bait to Hook Readers,” created a stir.Using Video Games as Bait to Hook Readers
Other Significant Trends Greater percentage of the population attending college – What’s the value proposition of a college degree when “Everyone has one”? Overcrowding/difficulty accessing favored classes or professors Slow to adopt new technologies for educational purposes
Existing Models The university pedagogical methods haven’t changed in hundreds of years What aspects of your educational model are at risk? What are the factors that you “count on” as fixed that would be a significant disruption?
Attacking the model If you were an outsider seeking to attack the university educational model, how would you seek to disrupt it? – Online (Capella) – Lower cost (India provides low cost health care – why not educations?) – Different payment/return options (Invest in the student and their eventual success) – Different educational approaches/methods
Think like a disrupter Based on our capabilities and strategies, we need to think like a disrupter What services, products or business models can we create to disrupt our own markets or the markets and customer segments of competitors
Think like an explorer Think beyond the existing markets and strategies What new markets can we uncover or create – Adult education for those transitioning employment options – Continuing education for elderly – Integrated education – K through Bachelor’s
Remainder of the Day Examine trends – Where to find them – Why they matter – How to synthesize them and act on them Examine tools and methods to find new insights – Lead users, ethnography, Voice of Customer Discovering new opportunities – Strategy mapping, Blue Oceans Customer Experience Journey