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April 26, 2021

IT Infrastructure & Cloud Strategies Live - SPEAKER SPOTLIGHT: Play Bold – How to Win the Business Game

Courtesy of Innovation360 Group's Magnus Penker, below is a transcript of his speaking session on 'Play Bold – How to Win the Business Game' to Build a Thriving Enterprise that took place at IT Infrastructure & Cloud Strategies Live.

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Session Information:

Play Bold – How to Win the Business Game

In this session get insights on how to get back in and win the business game through Play Build. Listening to the award-winning author and thought leader Magnus Penker on how to remove blockers, activate amplifiers, and aligning for constantly riding and jumping the S-Curves.

Session Transcript:

I guess that we're having here for you speaking directly from Sweden, in Stockholm Sweden, as a matter of fact.

I'm thrilled to welcome my friend and book offer and Global Innovation leader, Magnus Banker. Magnus is an internationally renowned thought leader on innovation, digitization, and business transformation. He serves as the CEO of innovation for 60 and just last week check this out last week. His book, Bley Bold, was on The Wall Street Journal and USA Today, best selling list And we have him with us here today. I'm so excited about that.

He's a speaker in prestigious global forums and Advanced top ranked being international business and design schools and a variety of associations and some of the world's largest companies.

Mister Banker has published several International Books on innovation and he's also still running the podcast, play Bold where I have I have had the honor of being a guest in the past. So make sure you check it out. And Mark Magnus, what a pleasure to have you with here with us?

Thank you for sharing your expertise with nearly 2000 of our global leaders in our, in our community.

Oh, great to be here. Thank you, Jose. It's an honor.

So I'm live broadcasting from outside of Stockholm in Sweden.

I just relocated from New York spending a few years there.

So M, it's like almost like being at home.

I also guess we are quite many international people in the audience as well, so hello to everybody in all the time zones.

So today I'm going to speak about how to cope with really turbulent times, getting back into the saddle and make things happen. I call it play bold.

And the play bold idea, it's actually about culture, attitude, way of working capabilities.

A lot of things goes into that concept.

And my idea is to walk you through that today and provide you and equip you with what you need to get back in the saddle and creates a new fantastic future.

Anyone can learn to innovate. Anyone can train to win. Anyone can be bold anywhere in the world.

That is basically the concept.

And if you have a look at the book, Play bold, you will see very provocative titles.

Actually. In matter of fact, the whole play bold concept is provocative.

It's so provocative that Philip Kotler, that wrote the foreword.

He said, wow.

I, this is counter-intuitive.

I had to read the book.

So the idea is to base the book on the largest innovation management database in the world that we created.

With Innovation 360, we have more than 5000 profile companies, and we don't talk about an overall scraping from the Internet. We're talking about in depth data on how you organize culture, strategy, and so forth.

We used that together with peer reviewed thinking over the last hundred years, and we boiled it down to a few key insights. And I'm going to share those key, key insights with you today.

So, of course I can't cover cover everything, but I will do a few deep dives to bring you on a journey.

I've been fortune, the book, hit, number one on New Releases, the Sustainable Development, Comparative, Economics, and Econometrics.

already the first month.

And from there, it moved on and climbed on different various lists.

So, why am I doing this?

Why am I participating in this great conference?

The idea and the vision we have with Innovation 360 group, that I've founded now six years ago, is to contribute two that at least one of the UN 17 sustainability goals will be solved by 2030.

I am aware of, this is not the big thing in the U S, but I'm also seeing a great movement in the US. And North America.

We need to get their **** together, excuse difference. When can't just continue and kill our customers, and kill the markets in the .... We need to fix things. And the seventh in sustainability goals are now pretty well articulated.

There is an alternative set of goals of Singularity University. There was seven from the beginning. Now, eight, they are basically in the same direction. And most people, they do agree.

By 2030, we need to fix water. Poverty. we need to fix health. We need to fix a lot of things.

And, and to restore the planet to two.

Sure.

Basically, host more habitants, I think it would be pretty cool to have 20 billion customers. I would really like that.

So, the idea is basically would play bold, and the whole idea behind the Innovation 360, grow the pie, ****, Take the pine, Shrinking pie and killing your customers is a very bad alternative.

Screenshot - 2021-04-26T151002.577So, talking about that, I have a great friend from Hollywood. We work we did quite many products together. He told me on a flight to Malaysia ones that you know, Magnus.

The only two stories in the world. Typically Hollywood.

OK, Jack, tell me more.

He told me that, No, either, you go on a journey or a stranger comes to town, it's your decision, Idio looser.

Get the all you know things thrown at you, or you take control of your life.

It's actually a matter of.

What do you want to do with your life?

So, when the pandemic hits, I was living in New York.

I guess we have a good number of people from New York on this call.

and all salay. It was pretty bad back then.

And, I saw this tweet and I saved this tweet.

I think it's a great tweet actually took the secret of remorse.

The first blood gathering organization in the US collect plasma from ... to use as a possible treatment for the disease.

It did work, by the way.

It's not super scalable, but it did work.

And where did they learn this?

Actually, from the Spanish flu hundred years ago, every hundred year back, until the 15 hundreds century we had them make, and it will come again.

This time, it will most likely take hundred years.

It will most likely go much faster.

We need to change the way of working, we need to change the way of socializing, we need to stop at to it to actually Violating mother nature.

It slows things we need to do.

But the story here, I share it with you because it's either a device happened to you or you happen to the virus.

That's the whole idea, and that these actually inherited in in the U S soul. So go back to that, Go back to their roots, go back to the DNA, go back to the founding fathers', and ask yourself, What can you do?

And a great story from the World War II, is that there were a metal shortage.

In, during World War II, 942 citizens source that homes, farms, businesses, kids even handling their toys, and donated method with the metal shortage or the big crisis.

Btog CTAThe US couldn't defend themselves against Japan.

They needed more radicals.

And they were very, very innovative and they came up with absolutely crazy ideas getting people to Meltdown will ever had at home.

Again, there are only two stories.

This is my story.

From New York, You can see me on the right-hand side.

And it's funny, when we go to show these kinds of pictures in 20, 30, 40 years from now, people will think that it is sap made up.

But this was Howard Wass, and you didn't actually get the penalty, if you didn't have the mask.

So this particular day, it was during the, then the East River.

I had to walk him, then I walked in a bank. I had to go through a bank office. There was one C I couldn't do remotely.

So I talked to the bank manager, and I had to go through different securities.

Of course, though, to reach him to my appointment, and I asked him.

Um, four, no.

three months earlier, if I looked like this would have happened and he told me what we would shut to, sure. She wouldn't say you would.

Absolutely dead.

So now, it's absolutely normal and it's actually looking at like the left-hand side there.

We are very adaptable, as creatures, but again, it's not always good to adapt, sometime would need to pose one single question, what a well to do with our life and our businesses that is very symptom.

And if we just adapt and do weird things, we might even continue with that of the pandemic. So we need really to rethink. And one of my idleness actually, I have to idols ... from the 18th century. The other one is Lady Gaga. I can tell more about that another time so, But you have Schumpeter.

He said famously, 100 years ago, that entrepreneurs, combined new elements, sorry. Entrepreneurs combine existing amendment and events in new ways.

And Deb and create destruction and build up something better, more valuable out of them.

So, this is central idea in the play ball that that entrepreneurs combine things. They create destruction, and they rebuild and didn't do it better.

And this is what's happening right now, therefore, the lessons learned from Joseph Schumpeter and the last hundred years, it's very suitable right now.

We are actually in the point where we have a sudden collapse sent.

It is so many companies that is going under Chapter 11 or bankruptcy anodic countries.

So, the question is, what is your story?

Thinking about that.

And if you don't do anything, what I give you today, please, at least with sugar on the top, write down your story. It will tremendously help you.

We're going into new normal. I created this picture a year ago, and it actually seems to be spot on.

It will be put pockets of ..., revised health care policies, new way of working, new superclusters, rebuilding supply chain.

Pan, am I just an example electrification optimization boost.

And the electrification part is more disruptive than the automation. It's absolutely changing way of working way of assembling way of producing way of consuming. It's an absolutely game changer.

So, if you believe that the organization that AI is Sam disruptive, wait for electrification, we are in many, many projects working with electrification, and and the magnitude is unbelievable.

So, innovation is central to build the culture of innovation, the capability for innovation, the leadership for innovation, the structure of innovation. Without that, you can't cope with what's happening right now.

90% of all executive agreed to that, however, only 6% are satisfied.

Now, we, our data, shows clearly that, that only 10% have the capability in place, but 78% invest quite much money, but in the wrong things, in the wrong way, at the wrong time and the problem is not the lack of ideas, absolutely not. All of you have a lot of them.

It's about getting where Y Will Tao and, and, and also the who I will share with you five main blockers that we identified among all our companies.

We also published a peer reviewed study and I Tripoli, and I walk them through 1 by 1 with you guys and bring this home.

Just doing this will help you.

The first one is ..., and you can see this cartoon here. I don't have time to see an increase in Sales. Man.

I had a battle to fight, OK? But if you look a little bit to the, right, you see, Machine gum, hmm, maybe that would be handy.

Very typical, you are busy being busy, being busy, being busy, and that is breaking companies. You need to reach out to people around you, maybe even other industries, to figure it out.

The second one is actually the lack of faith in your objectives, in your goals.

You need to believe in the goals.

You need to be able to break them down into tangible actions, And then you have the third one, to link to higher purpose.

We choose to go to the moon in this decade and do other things, not because they are easy, but because they are hard.

We knew this for quite some time, thill, we believe in quarterly capitalism and its employees.

It's the braking systems. We need to get back to believe.

Dan, you will grow the pie and making better business. And then, you can have a quarterly report to make all the money. But it doesn't work that way around.

It's well proven in that, in a lot of research done over the last decade.

And it's very clear shown in our data, too.

That this is hindering effectively, and it kind of changed and emulation.

Then we have the next 1, 2, 2 M to dare to fail.

And the best cold I have is from Michael Jordan. I miss more than 9000 shots in my career. I lost almost 300 games, 26 times. I've been trusted. It'll take the game winning shot the missed. I failed over and over over again in my life, and that's why I succeeded.

14That's the attitude. That's what brings it to the top.

You need to dare to fail, do it fast, do it cheap, and don't do the same mistake twice.

The next one is actually about uncertainty.

And this is pretty cool.

I have the helicopter, that's just landed on Bosch, and I used this picture long before they landed.

Can you imagine anything more uncertain, then riding a helicopter moss?

That's a, I wouldn't say that's the perfect example of uncertainty.

Apparently, you could deal with that. Why do we claim in the board room?

I need an ROI, and I need to hire some expensive consultants to do that job for me.

The only thing you do is recreating yesterday and it will fail and it will fail big and it will be expensive because the market is changing. When you finally hit the market, it's the wrong timing. It's the wrong things for the wrong price.

It's absolutely meaningless. You need to accept and deal with uncertainty instead. I'm very proud to work with the former CTO of NASA. John says, yes. 18 years served as the CTO of NASA is one of my guys in the New York office.

We deal with, is inclined, this time is all the time, and you know what? It is possible.

So you can find a lot in the book. Or you can also, if you want to reach out, then we can have a chat about that.

But you need to learn to accept it and learn from it.

And basically, this boiled down to the S curve concept, where you work, where you are today.

You get birth, you grow, you mature, You fade away.

And you can extend that by improvements, but you can't leapfrog to the next S curve with traditional methods for that. It calls for a culture, capability structure, and leadership, and strategy for innovation.

Otherwise, you can't do it, because you will jump based on on the random insights, at best case.

Worst case you don't even have any insights. So, so you need to plan for it for, for leapfrogging and to build up the upcoming yes curves.

And this is like riding a motorcycle to take a competition if you're riding a motorcycle and you LL compete in that when you come to a curve.

You adapt the speed, balance, the forces, you take the curve, that's incremental innovation, but you also plan for the corners. And actually, this go quite fast, and you don't know what will be around the corner.

You don't know who will be around the corner, but you need to plan for different them. Comes and be very prepared.

Dan, What do you through the curve?

Gear up and accelerate tasks?

That's disruption.

I typically slice this down into horizons to what the first horizon is here and now, where you work with an unknown.

You, we'll have them cash in return. That's where we are comfortable.

But then, in the Soda reisen, you don't know, and it returns insights.

What you could do, that's the feeder into the H two, where you work with the hypothesis and prototyping, we acquire new competencies and capabilities, and build for commercial success in H one.

If you start to like that, you will take the game and win it.

This picture is a more high resolution picture on how you create feeders.

You have push and pull feeders, creating big ideas out of them by combining them using a technique called grounded theory.

By the way, used by CIA frequently, they cool to ... by death. But using that technique, it's very powerful.

You move into the box of level of uncertainty, where you reduce the uncertainty. If you decided on so this H one, meaning, it's completely unknown.

You just move it into the developing or Grayson, and the DevOps.

So the development process or what ever you call it. That's the institutionalized part of it.

That's normal away, You're not weak.

If it's very unknown into a tree, you do experiments putting up a thesis, reduce the level of uncertainty into H two way, into piloting and prototyping, and then you move that into testing and tears near testing field, testing market testing.

This way, you reduce step the uncertainty, which means that you push forward things that we win with less risk, less cost in, a fastest speed, and you free up working capital, and everybody's happy.

Accept your competitors.

So, my seven steps that I would like to give to you guys that you can follow um, And please if you have any any questions, just make a note, because in a few minutes, you'll see will step in and take Q&A, and that's normally a very appreciated porch.

Start with the first step, ask yourself Why does you exist as an organization?

What is the reason, if you can answer that question, you will be much better off.

one great example is Black and Decker, I guess you know about data we had the tools like drilling Machines, so the question is What do they sell?

Well, if you ask the CEO of Black and Decker, he will tell you immediately, We do not sell drills. We sell quarter ins, holes.

This is important because a Black and Decker drilling machine will not last.

It's not high quality, but it does the job to a very nice price.

Otherwise, you need to buy a professional machine that will last 4000 years for an amateur and for a professional, maybe a year or two.

This doesn't make sense.

You have danced this very simple question.

And then you have to identify good examples within your organization. We typically work with 360 mappings and assessments to understand the scene.

If you can find a few good examples internally, you can actually amplify them and work with them. You can, in the same way, systematically identify and assessing blockers.

Let's look at you. I just gave you five examples.

We have identified 66 capabilities that could either be blocked or amplified based on the last 100 year of can thinking collecting data. We can benchmark. We can get very detailed advice around that.

You will find a lot of that in the book, too.

So why do I bring that up? Because it's possible to assess what's blocking you, remove it, what should be amplified?

And, and the best way of doing that is to find a good example, Hey, let's do more of this, Done.

Another thing, it's a pretty good idea, too, to actually work in an ecosystem to kill your neighbor is a very bad idea.

Instead, you should collaborate. Let me give you one tangible example.

five G is tremendously successful. Why?

Well, it is, Eric Schott from my home country.

To get it would knock you out from my neighbor country: Finland, they rule the five G markets worldwide: Too, small, tiny, tiny, tiny, small, unbelievable, small, that it's not even as many people in just New York living in both those companies.

That rule the five G in the world, to LA.

They decided they don't want to be a part of creating that standard, and that has been very expensive. So I'm sorry if anyone from from your way on this call?

bad luck?

It is smart to work with your enemies and keep them close to defined and set a standard.

This is all, sounds see from 4500 years ago.

Reduce uncertainty by experiment the study, really behavior.

Do not listening to a customer. Do not listening to what people tell you, because they don't know. People typically don't know what they do in the morning.

Screenshot (4)They don't know what they're doing during the day, and just do it. Your job is to absorb and learn.

That way, you will identify really, really interesting thing shell.

Just ask yourself, would you ask for i-phone one before it existed?

Most likely, not.

Then you need to accelerate what you have at hand.

because you need to make money. You need to create the blood circular but don't fool yourself. It will have an end.

Everything has an end.

Your job is to maximize it and use that cash or what I called store energy, and identify new upcoming your S curve Zillow and how they work.

Amber, make the perfect jump. When the time is ready, better job.

Then you will create a sustainable growth with more success, and most likely, with less waste, which is a very good thing today.

There are quite many statistical evidence that this approach is working. This is one of the largest study made every year from 2010 and until 2019.

By price waterhouse coopers, what a prove?

That working in this way I just described, first of all, just having an innovation strategy, you will actually grow 14% faster, on Saddam Hussein more money.

The market cap will be substantially higher at 90 percentile.

But if you also had a coherent innovation strategy, which we used to build, the capability I'm talking about, you will do even 8% more gross and even 22% more profit.

This is crazy to not do.

So, a way of doing the Act and how I approach it, is actually to assess your capability because the real problem is, under the surface, it is the culture. It is the personas. It is. The capabilities is the way of working. Assess it, put matrix on it, and get the job done.

And just hiring a new CEO will not do the job, and you see if Information Officer and their CTO a new C, E O, It will not help.

You need to understand that an organization is a creature very complex one. You need to understand and uncover the autonomy of the creature.

Then you can do some really good stuff and just think about sport.

You always work with training.

You don't play match every day.

If you ask it at gold medal winner, they will tell you that, immediately? Actually, I had them, one of the, not one of the best sharpshooter in the world.

In one of my recent podcasts, and she was very clear on that point.

And I also had another guy that had a call with one of the best socket based in the world, together with a group of executives working in boards and this soccer player, a Brazilian guy, without mentioning his name. He actually asked the executives that when you train board meetings, and I looked at him and said, What do you mean?

Well, if I would play match every day, I would lose because I would check it out.

And those folks went home and resigned from all the Board assignments except one, soluble from different companies that will do the same. If you want to listen that, podcasts are going to go to the Institute of Reason to actually think that you don't know, you need to figure it out, but that's your job.

The positive news is it is possible.

So guys, I am now ready to take some questions and them.

it also left my friend to Z back in picture.

I am excited to be back in the picture with with with Magnus. It's always a pleasure and Magnus. Fantastic. We obviously have tremendous alignment, and this constants really have experienced this globally, and we have some good questions here from the audience, for you, and the more conversation to be had. So for those of you who are on the call right now, and I can see a list of all the people who are on the call, on the broadcast, ask your questions.

You have an opportunity to ask directly to a current, global thought leader of innovation, above all.

He's practical experiences, with, with this concepts and principles powerful principle, So take advantage of it. I can see your questions coming through. I'm going to start with NMR teen easier MMR. Genie says, My agnos, I love this presentation. It was awesome, especially, the innovation horizons.

Very insightful, and I believe she is referring out to the innovation horizon's when she asked the question.

How do you change upwards? And she says from bottom to top in the org chart. And basically, when you go from horizon wan to horizon to horizon three. How that?

Uh, the question is, How do you change upwards? How do you go far as the launch of our eyes and three and maybe, how do you engage leadership in the end as you go over those horizons?

Yes, That's an interesting question. And let me put it this way.

If you don't have, If you don't have an idea why, why we exist as an organization, it's game over.

That's my simple answer is Start on the top.

You need to have a leadership that are servants and humble and opened otherwise quits.

That's that's it's impossible if we block you and if you have that, well, then your job is to support that. But I'm being very curious.

Prestige less looking for new ideas. And not being the devil's advocates. That is what's killing innovation and moving across the horizons. You also need to create an infrastructure with ideation platforms to tap into everybody's.

They work.

But just filling that, and I believe it will work, it's not sufficient, You need to have the culture in place. And then the currents in leadership.

And I would say, I don't really like your humbleness, but openness, prestige, less listening, and then you can be pretty hard ennui, but, but you need to start listening and also believe in what you do. I think that's just a few key components.

Very much so, very much so, and then follow up on that, Magna's.

Next question has to do with, what do you see from a governance perspective on this organizations that do it well? Who are doing innovation at all three levels, if you will? If they're doing well, what kind of governance that they have in place?

They had a very clear governance model for Innovation Management.

So typically, they use this relation model, but they can't use soils. Are there other models on the market?

But, they're very clearly a sign in the portfolio, what kind of project, what is the level of uncertainty? What is the expected outcome?

Because that, by doing that, you can reduce the level of uncertainty. You can prioritize the resources allocated.

So the governance model typically include resource allocation, expectation, and level of uncertainty.

And you map the level of uncertainty to some sort of model. And based on that, you can make decision is basically like a sales funnel.

When you work with sales, started with leads, and ending with the close, it's it's not seeing that these are explicitly strange, actually That's how your governance it. So you need to have the portfolio, and you need to have product selection methodology in place.

Screenshot - 2021-04-26T151002.577And it needs to be built on real experiments and relied portal thesis, And you need to weight them based on potential outcome, but also rate them based on the level of uncertainty.

Farewell Magnus.

How do you manage the the different expectations and perhaps a different approaches you must have for Horizon one, horizon shoe and Horizon three at the same time in the same organization. How do you How do you manage that?

I will say, If I can answer that, I will have Nobel Prize that that's, yeah. But what that can do, I can elaborate on it.

There are three principles integrated, which we should do everything at the same time, everywhere centralized, which means that you do a few things. Centralized typically the H three stuff. Maybe it's to the centralized, meaning that you do what you typically do centralized, but they're doing in several satellites.

They have pros and cons.

I have seen very few companies and our data show very few companies that work across the races in the whole organization.

What I am seeing that is working at best, and I say it best, because it's not the perfect solution.

It is when you dedicate different satellites, two different horizons, but also the different kinds of synthetic incentives that you're focusing on.

But then you need to make them work together, which is not always that easy. And sometimes you need central resources as well.

So, central resources. This is important because you can bring knowledge to the table.

You might have better resources in terms of funding, um, but the disadvantage with centralized governance is that you might not have the same closest to the market. So typically, you mix centralized to decentralized. You assign it to a different level of Verizon's different strategic initiatives.

That's typically I would deal with.

And then, a lot of large corporation, it's very popular right now to work with spinning and spin out and spin in its normal level working.

Because if you require a company, statistics shows that 80% of all merger failure and the spin out, well, it might work, but then you have problem one. He said buy it back.

So my best advice, a mix of centralized and decentralized innovation centers and typically give them very clear, strategic directions about the ricean and the kind of set the beginning.

So, that's very good. Very good. That's those details, and those intricacies are so interesting and so important.

And the and the And as you said, it's, it's, it's not very clear. It's not black and white, Because context matters. And I think that the existing culture that you have, the resources that you have so on and so forth, all those things matter.

So, it's, it's about putting together this does the right combination for your organization.

Now, on, on that, there is a concept that you talked a lot about, that I, that I, that I agree with. Confirmation bias, for sure, because I have seen this in my own experiences, and I think is important.

But ultimately, to accelerate innovation in the ecosystem, ideas are important.

But, what's more important is to identify the people who are willing to put their reputation behind ideas, and the same thing with methods: same thing with technologists. So, it comes down to people and finding what I called the right people in your organization, to work as amplifiers of innovation. And you and you talk about that. and I love that concept because I have converged for very different paths into that.

If you can elaborate a little bit more for our audience, What does it mean to be an amplifier? and how do you find this people in your organization?

So, a real example from, from the US, I can't tell you where it's a pretty large manufacturing industry, and they are very confident they do, pretty cool stuff.

It's very advanced, a lot of PHDs, many from MIT.

So we did an assessment on them, and we typically do many assessments, the minute talks to try to compare and contrast.

We suspected that the Indian side might actually be more geared to run a radical innovation, or boatmen that people refer to as disruptive innovation.

So we need to package that quite carefully, because we expect that we might get the backlash.

I can tell you that we're not happy, but we did package it in a way where we could explain to them why, and how come that the Indian company, so always coming up with their products that is actually successfully launched.

14Well, we can tell you why. This is why, and we could nail down the capability, the culture, the leadership.

But if we haven't been able to quantify that, most likely, they would react to say, because they didn't want that to happen.

It's a pretty big thing. If it's a US.

Headquartered company, it's less innovative than an Indian site. It's not, it's not in the U S DNA to accept that.

But if you have fingers on it, you have to, we have to step down, basically.

And so, I would say that that's the reason why I start the Iteration 300 company, as well, to be able to do these kinds of things.

without figures, it's very hard. People deny.

Thanks. And I think it boils down to that. If you can identify, would figure, says, showcase, and then you can dress it up in qualitative things, Like, OK, this is what they did, this, or they did, because, if you do it the other way around, they will say, Yeah. Yeah, yeah.

But, if you show, it gets figures hard fact and then you explain it with examples.

It's hard to shoot down and you get an acceptance much easier.

And, the amplifiers, The idea with the amplifiers is that: if you want to change something in a culture in a large corporation, people will say: We don't do that.

Or we tried it.

But if you can point to someone in the same organization successfully doing something, it will be a role model, and you can accept that this is possible to do.

So, that's the idea.

The blockers is more obvious, but it's also more negative.

The amplifies is very positive and pretty easy to work with.

Love that. Love that. And when you find what have you found in your experience? Some sort of correlation with the with the personal traits of this amplifiers what kind of people they typically are. If there is anything that's kind of a common and unique about them.

It is.

I wasn't expecting that question, but it is.

We we have borrowed the framework of ideal and Pull Alto, so we assess Tempests someone else.

one of those are Hurdler and if you would like to understand the herd the watch a show with the Mac Ivor, Testa Harder, doing anything, wouldn't nothing.

Those folks, they do exist. They live in a vacuum. They operate under the radar.

They typically have a small team around them.

They're getting away with doing things because they always deliver, but that's not how to create value, then, in the basement.

Now, during the night shift or when they have time over, they do amazing things.

No one sees it that ever show it.

And eventually, and this is a true story, a good friend of mine, what's the CTO of Eric's on in North America? for many years, he lived neighbor wood, Steve Jobs to our friends, the Hangout together.

And he was developing IP telephony for Ericsson. And this is a true story.

And I will actually mentioned that built into Play Board, but in another book, he developed IP telephony under the radar. He was forbidden by Eriksen to do that.

Guess, if they were happy they want, when they found that he did it, again, installed instructions and policies.

Without that, Eric's, I wouldn't, I would add, there would be in another space.

And this is happening all the time.

That's a fantastic story. And then, people may say, well, may think that there's just an anecdote. And I can absolutely support and a test that working with over 30,000 excellence and innovation leaders, while you have just described, is very, very common, especially larger organizations. Specifically. there was one person there that, that's, really, I'll provide another anecdote on that. There's a person I've worked with, was the Chief Engineer and a very 100 year old engineering company, very prestigious 14,000 engineers around the world. And the, and this person, I remember, was considered to be incredibly smart, but can get anything done. And that was kind of the, the, the, the perception that people quietly will have about this person was incredible when I got to meet those individual and see how bright he was and all the ideas that he had. And there is some truth to that. They almost had too many ideas, are not enough execution discipline on some of those ideas.

Once you put just enough structure around him to allow him to have this teams and and process and pursued this innovations.

Screenshot (4)He delivered over 30 major innovations in the next three years for that organization, and these were big things. They were fully baked out. I mean, it's an incredible number for any individual to this day. It strikes me as a, some sought of a world record for an individual to lead that many innovations, significant innovations for an organization.

And, again, to your point.

So, many of those things happen under the radar, and I'm curious, app is, to a certain extent, do you create a mechanism for individuals, like the one I just described, to, to identify, pursue, and implement those innovations more locally? when you do this deployment in organizations?

I call it funnels. So, we typically work with push and pull funnels.

one extremely important part of that is actually to reach out to these kind of hidden radical pockets and provide them with the means to try and develop normally the body.

This very small, if the evanescent audience, and you can pick it up on the radar, and you can identify things across the board, and as circling big ideas. And then, then you can be quite short-term.

That you know how to go ahead. And you can also look back to the people and ask them. Would you like to be a part of a central team now, where the central centralized team, to, to, to really take these sort of markets?

So yes, that's a very important part of creating the infrastructure.

That's terrific Magnus, we are out of time right now. I can speak with you all day long about this topics, is you're doing such important work in leadership in the world. So, we're so grateful for you to take the time to share that wisdom with our global audience today.

Thank you.

Thank you so much and take care of my friend, But you later bye. Thank you, Maggie.

Ladies and gentlemen, that was magna spank are directly from Stockholm, Sweden, to our global audience, one of the greatest global leaders of innovation. And with us, and the wonderful presentation. And I am honor, I'm gonna wrap up this session with you, and now we're gonna, we're gonna close it down and we're going to start off at the back of the top of the hour. And I'm honored to follow up on his footsteps because at the top of the hour, I am going to build on what he has, just share it with you.

We're going to have a session on IT infrastructure and cloud strategies. It is specifically with a focus on the how.

Great, enduring organizations build value, creation cultures.

We're going to go deeper into your culture. We're gonna go deeper into an empirical reveal of great, enduring organizations.

Not organizations that we have just collaborated with organizations that we have the lead from within, to transform the organization, not only digitally, not only the business, but the culture of those organizations. So a lot of the concepts that you have heard already from Magnus will be, if you, you, You feel, and see, and hear them in My talk with you when I share that benchmark of great, enduring organizations. So I look forward to meet you back up at the top of the hour where we're going to cover how great Enduring organizations build value creation cultures, and that includes, of course, the IT infrastructure and Cloud strategist as part of that culture. So see you at the top of the hour.

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About the Author

more - 2021-04-21T135210.764-1Magnus Penker,
CEO and Founder,
Innovation360 Group.

Magnus Penker is an internationally renowned thought leader on innovation, sustainability, and business transformation. He is a speaker in prestigious global forums and events, such as – The Global Peter Drucker Forum, top-ranked international business and design schools, a variety of associations, and some of the world’s largest companies. Mr. Penker is currently writing Play Bold and a 5 Volume Series on Business Innovation titled The Complete Guide to Business Innovation and is contributing as an editor at the International Journal of Innovation Science.

As a result of these achievements he has been honored with the Business Worldwide Magazine award as the ‘Most Innovative CEO Sweden 2016’ and appointed as a Global Top 100 CEO by CEO Monthly year 2018. Additionally, he has launched 10 start-ups as well as acquired, turned around, and sold +30 SMEs all over Europe.

Through his best-selling American books on digitization and IT engineering and his more than 20 years of experience as a management consultant and business leader, Mr. Penker inspires leaders to find a new way of thinking and organizing to stay on top.Mr. Penker is driven by the recognition that in these turbulent times, we must understand what we are really good at and determine how we can use those capabilities and competencies to create advantages in a globalized market with endless possibilities. The global map is being redrawn at speeds we have not seen before, and historically low interest rates are attracting capital to global digital-risk projects that will further strengthen this movement. Mr. Penker has a B.Sc. in Computer Science (CTH, Sweden) and an MBA from the Henley Business School, England.

For the past 10 years, he has used his practical and theoretical insights to develop InnoSurvey®, a leading methodology and global innovation database which is used to analyze and to provide advice to companies, business leaders, and scientists around the world. Today, Mr. Penker is the CEO and Founder of the Innovation360 Group, which is headquartered in Stockholm, Sweden, and in New York, USA.

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