Session Information:

Excellence & Innovation Acceleration: Value Creation in Times of Uncertainty and Rapid Change

In a disrupted world, how do you build a culture and practices where extraordinary innovation becomes ordinary? An organization that consistently delivers exponential leaders, growth and value creation.

The key ingredients to innovation acceleration are not what you see portrayed most often in the media. Great, enduring organizations know what it really takes to create and, most importantly, scale innovation during market disruptions.

We will explore how to blend disciplined innovation methods with elements of venture capitalism, crowdsourcing and collaborative leadership to deliver rapid and sustainable business improvements and innovations across all industries.

Session Transcript:

This Conference will be led by your own, shows that there is here and sharing the journey of excellence and innovation acceleration for great enduring organizations. So I'm going to change my background because we're gonna go into acceleration mode on innovation and acceleration mode, so you gotta have the, the right background for that.

And with that, I'm going to share my presentation with you, and we'll go, we will get it started here.

OK, excellence and innovation, acceleration, value creation in times of uncertainty and rapid change. So, what I want to cover with you here for the next 40 minutes or so, is the journey of great enduring organizations. What separates them from the rest in the organization? can do acknowledge here a good improvement project there, an innovation over here.

But very, very few organizations can be chronically consistent with their purpose and achieve, enduring greatness in their performance by creating systems that deliver high level performance over a long period of time. And I'm not talking about 1 or 2 years. I'm talking about a decade plus.

So, this is the river reserved for only the best of the best, and want to share some insights with you about how they do that.

This is not my personal opinion. This is not what I read in a book somewhere, or a book that I wrote about this subject.

This is the, these are the practical experiences of more than 30,000 excellence, innovation, excellence, innovation leaders, across all industries in more than 100 organizations.

Now, not all of them have achieved enduring great performance, but we're going to find what makes a few of them stand out.

The first thing that I have here is actually a question for you: What do you think is most important on this journey of achieving, enduring greatness?

And I'll provide you with four components here.

People will talk about the importance of ideas and we need to have systems, where we collect ideas and and let people, and understand what matters most. Or is it about methods? Is it about the different types of methodologies that we can use to have chronic discipline in our In the pursuit of our purpose in our organization? Or is it about our technologists? Is it about RPA? Is that our machine learning, artificial intelligence, natural language processing block chain and all this wonderful exponential technologies that we have today?

Or is it about people about getting the right people in in the business to to have certain roles and have certain expectations chins?

And certain skill sets, what is it about? So I'm curious about what you think, what matters most? Is that ideas? Is a methods is a technologist, or is it people? Please do me a favor and take a moment right now going through the questions portion of the goto Webinar interface and tell me, is it ideas? Is it methods? Or is it technologists, or is it people pick one of them? You cannot pick all of them. Pick one of them. What's most important on the journey of achieving enduring greatness?

So, Ideas, methods, technologists, and people go to the Questions. Tab, type your input in there. I already see them coming up.

Awesome! Great!

So I, some people say: it's methods, ideas.

Technologists, People, very good. Don't be bias. Bias by what anybody else is saying.

Give me and I'm not looking for theoretical answers, OK? I'm looking for practical answers.

If you look at this organization that achieving during greatness, what is the what what rules for them, what drives this, what drives that performance?

Very good, Very good, I see your input coming in. It, I'm not going to make any judgements we will find out as we go along in the journey here.

So the journey to greatness is incredibly challenging, because the journey to greatness requires us to envision a better future, then we have to innovate towards that.

In doing that, we have to transform our organizations and who we are as professionals and leaders.

So, this isn't credibly difficult, and that's one of the main reasons that digital transformations fail at an incredibly high rate.

I mean, anywhere from 80 to 90% of digital transformations fail to achieve their desired outcomes. So, what is the reason behind that?

Well, one of the reasons is that there is no such thing as digital transformation.

We have been digitizing things for decades, and a lot of people call that a digital transformation.

There is no digital transformation without a business transformation and understanding the core capabilities of your business, understanding how you create value for your customers, what are the key value chain processes to deliver that value to the culture, to the customer, and, how do they change in this fast changing world. That is not technology answer. That is a fundamental understanding of the business.

So, there's no digital transformation without business transformation, and there is no business transformation without cultural transformation, because, as you attempt to transform the business, you're gonna, You're gonna, you're gonna hit against the jaws of culture in the jaws of culture, will eat you up and you spit you out.

If you do not our, if, if you do not have a concerted effort on transforming that culture with the business transformation, along with your successful digital transformation. So if you look at successful digital transformations, they have business transformation and cultural transformation associated with them.

And it's incredibly hard to do. And the reason it's so hard to do, because transformations are incredibly difficult, at any level.

Digital, business, culture, personal, and professional level.

Because organizations are just like us, as human beings, and the cultures will resist what they most need to change. Listen, there are quotes about it, right?

We all can be billionaires with six-pack, ABS, but it requires certain things to happen. It requires certain transformations to take place for a very few people to achieve that level.

So remember this, before we start judging our trust for our organizations or our leaders, we have to show empathy, because organizations are just are like people in there are not wired for change.

As much as I love change, the reality and the practicality of it is that organizations are longer for safety and predictability, much like people do.

So we are not, that's the reason transformations are so hard, and now, so while how do we do this, Dan Joseph? Let's go back to the question. Is it about ideas, about matters, about technologies, or is it about people?

So I'm, I'm, let's talk about that. Is it about ideas? Is it about methods? Is it about technologists, or is it about people?

Well, it is about ideas. Because ideas are very important. You need to create a meritocracy of ideas.

And you have to understand what what what people think about the best ideas that we can have in this organization to create value.

Well.

Ideas are also everywhere.

What are in common? Are people willing to put their reputation behind ideas?

Then, we're going to talk about methods and how methods are very important, because they provide a disciplined framework for getting innovation execute and that's critical for achieving enduring performance.

Well, but I also tell you that, since the 19 nineties, I have been a certified Lean six Sigma, Master Black Belt, and I know the methodology deeply.

But for most people, that sounds like a dangerous mental condition. It doesn't help them.

So I'm going to say, it's gotta be Technologists, Then right, RPA, AI, Machine Learning, Blockchain, you name it all, this exponential technology, we have it, but at the same time, I will say that technologists are great and when they enable your processes, but technologists can also make stupid happen at the speed of light.

So, it must be about people, right? We hear this all the time. People are our most important asset.

Well, they are, But if you are looking practically what happens in times of uncertainty, rapid, and rapid change of uncertainty and rapid change, the people are often the first to go.

So, there is, there's a dissonance between what we believe and what actually happens.

So, if people are so critical wise that we let them go.

So, it is, as you can imagine, it is about every one of these items and none of this items is in isolation because the world of greatness is fundamentally a world that requires the mastery of contradictions. And that is the first big lesson that I want us to keep in mind here. This is a practical lesson.

The world of greatness requires the mastery of contradictions. The world of greatness is not an or world. The world of greatness is an and world.

It is not, it's not about one thing or the other.

It's the and it's about, we're going to talk about the need for high purpose and discipline.

The reason for exponential technologies, and human values of trust and collaboration, and the end, we're talking about this, things are pulling very different directions.

And then the world of mediocrity, people debate, option A, or B endlessly in the world of greatness, that they know that the best answer is often not on the balance. But the intelligent bland of forces, that pulling very different directions. So it is about intelligent bland of this antagonistic forces, and there is no greater contradiction in the world of greatness than the contradiction between excellence and innovation.

Because the world of excellence pulls in one direction, it is about setting performance standards. It is about consistently meeting and exceeding those performance standards.

While the world of innovation is coming from a different direction, is pulling in a different direction, and he's saying, Well, forget about this old systems. Let's just implement new ways of doing things. Let's take a break through the improvement on the way that we, that we address this problem. Let's take a different perspective at it.

The world of excellence is about, is squeezing efficiencies out of horses, because the systems that we have, the people that we have, everything that we have here, We can make them perform better, so we should squeeze efficiencies out of them.

The world of innovation is located in saying, Hey, listen, I cannot design cars by squeezing efficiencies out of horses. I need a paradigm shift.

Now, the issue is that organizations debate this endlessly and cultures tend to gravitate towards the one or the other.

There's four hours worth talking about the subject alone, but I will I will short circuit for you.

Great, enduring organizations are not the most excellent organizations.

Great. Enduring organizations are not the most innovative organizations, and that may feel counter-intuitive.

Great.

Enduring organizations have learn to work, to coexist with the friction, between excellence and innovation.

There are no, not just the most excellent, because those who are most Exxon do not innovate. They will eventually die.

They are not the most innovative because the most innovative organizations are often, is scattered and inconsistent with their purpose over a long period of time. And they disappear, and you'll never hear about them again.

The great enduring organizations, they actually have tremendous levels of excellence, but they also have built a culture where they step away from the exons, look at it from a distant, and say, there's gotta be a better way. And when they come up with a better way, and this is very important. When they come up with a better way, they're going to be.

Come dominant by just continuously innovating. They become dominant by scaling the innovation that they created better than anybody else in their industry. And you know how they do that?

They do that by applying excellence to the innovation that they created so that they can scale it competitively, and there lies the friction and the opportunity. Now, the lessons that I'm sharing with you do not come from my own.

Personal insights come from 25 years with excellence innovation leaders across all organizations, sizes, business models, geographies, but most important are the organizations that I had to live with the consequences of my suggestions of my advice. Because I was leading excellence and innovation programs and acceleration for those organizations.

So, to summarize for you, I was born in Brazil, I was educated in the United States with a background in engineering, physics, and investment banking, and my first job was working for a Japanese company. So, I was very excited but highly confused.

So, as I started my journey at Sony, I'm going to summarize the key takeaways of excellence innovation acceleration for each one of these organizations.

And as Sony, I had a Japanese boss, Shingo Higher Sheet.

Also, ..., for me, that, in my first week at work, said that I should identify 100 innovations in an ecosystem that I knew nothing about, and I thought I was going to fail by the end of the week.

And I got it done by the end of the week, just to be told that I needed to identify 200 more innovations the following week.

Now, busy beyond feeling inept, I, and the, and really kinda disliking my boss and the first week of work.

I learned one of the greatest lessons from Ayesha son who became one of the greatest mentors for excellence, innovation, acceleration for me and here's the lesson that I want to share with you.

When it comes to accelerating innovation and creating something new, it doesn't matter.

Your gender, Your race, your ethnicity, how many certificates you have hanging on the I love myself wall.

The key determinant factor for innovation acceleration is finding the right people. The amplifiers of innovation in your organization and those amplifiers of innovation: They have two very important things. Number one, they have both the novice mindset.

In the end, they develop an expert mindset In the mind of the novice.

There are many ways, In the mind, of an expert, there is only one way, and it's not about choosing one or the other.

Great innovation accelerators have both. They have the mindset of the novice, combined, with the mindset of the expert.

one without the other, will not be scalable, when it comes to innovation, and then, most important, the key traits.

The four Amplifiers of Innovation. Your organization are human traits. There are only X showcase by the test of innovation execution.

And they include purpose alignment between your professional purpose and your personal purpose.

They include high levels of passion about what you do, High levels of discipline, and high levels of resilience.

Purpose, passion, discipline, and resilience are the characteristics and behavior traits that you identify on true innovators.

After leaving Sony, I joined a startup in California that changed the world ... thus micro lithography for the semiconductor industry. This was a startup company that went from nothing to having over 95% market share in the in the semi conductor Mike ... market. And they did this by bringing the most intelligent, brightest people in the world when it comes to excimer Laser technology to one company in California.

But that's not what made them great. What made them great was the ability to scale, the innovation that create they created.

And the way that the scale, that innovation was through applying principles of excellence to the raw technology and innovation that had been created, and also developing collaborative leadership as a core organizational competence. So remember that scaling innovation with excellence and collaborative leadership skills.

And Nestle, this is now a company with over 300,000 employees, 5, 185 business units all over the world. What is the main lesson? The main lesson is that culture will eats strategy for breakfast.

And excellence and innovation are just seditious.

So if you do not show empathy for the culture of the organization, and multiple levels, especially in very large organizations, you're going to get killed.

So sounds simple, it's actually very, very hard to do. But it starts with empathy for her.

OK, you know, advanced application of RPA with smart robots is, sounds very good, but if you do not get that into the context of your own organization, you will fail.

You will fail if you do not, meet your organization, where they're at. And if you are not empathetic to the culture and the people who are there, who are not up to date in all this technological things you're talking about.

They are going to sabotage whatever you do in very, very smart ways. Then, the next 15 years of my career, I spent in the energy and infrastructure business. Working with incredible organizations that do a large or engineering projects around the world and more than 100 countries. And that was with Black and Veatch. And I will want to get you into the details of the work at Black and Veatch.

This is a 100 year old organization with 12,000 plus Indian interdisciplinary engineers across 100 plus countries.

Sounds like a great place where you can accelerate innovation.

Other than when you have been successful for 100 years, you have already innovated. And it's not that easy to come in there and say we're going to innovate even faster. And I have some new fresh ideas to do that.

So let's see what it typically looks like in an organization like that.

Well, they tend to be very methodical about the way they are going to do things very deliberate and intentional about the way they do things.

And, for a period of about six years, they had a, a very good, Lean and six Sigma improvement and innovation system going on, And they were delivering value on a consistent basis every year. And more and more people were engaged on it.

By year six, they had 500 people were working on this very good projects, and delivering value to the organization. And, there are focusing on ideas and methods. It was about, oh, we just have to connect with people, and get their ideas, and we need to have methodology to do this. You know, kind of a typical engineering mindset on how to do things.

And there's nothing wrong with that, by the way, because they had they got your six, and this is a very important piece of information here, they've got your six, 50% of organizations that go onto this journey of innovation acceleration. After three years, it's over.

They start with hackathons, and post it notes everywhere, and the executives are all excited about it. And then three years later, nothing.

It's over. It's done because it was a flash in the pan. There was no consistent approach.

So, know, these people, make sure your six, oh. And by the way, when you get your five, now, 99% of the people that you listen to today, we're talking about digital transformation five years from now. There'll be nothing there.

Why? Because it's not sustainable. What they're doing is not sustainable.

And, nine, that's an incredible I E.

Death rate this year. So they're like, Yeah, we are a part of the the 1%. So ideas and methods are good. We have a system for kids coming up with ideas and implementing them.

And we have methods that allow us to have a disciplined execution of these ideas that create value. Whoa, we got it, right?

Yes, we did. But, you know, being me, I was like, Oh, this is good. But it's not great. I'm not just looking to be part of this 1% Club. I'm looking to be great. And I think our organization has more potential.

So, let's experiment. Let's do things differently with our, with our, with our trust, with our transformation, with our business, and with our culture.

So, we propose that we change things radically. And one of the things is that we're not going to be focused on ideas and methods anymore. We're going to be focused on the intrapreneurs in our organization because, you know, if you remember the lesson, I really should be looking for people who have purpose, passion, discipline, or resilience, who already work for us.

And they are suffocate, or right now because there are no systems that they can tap on to showcase their abilities. So, can we, can we do that?

So, we move from being methods centric would be, we move from being ideas centric, moving towards finding the right people in the organization to be fair that was a bold move. And we thought it would not be successful. But we had to experiment.

And with the experimentation, while we identified in the subsequent years is that we initially, we got same performance as before. And as people started believing that it's true that we have a meritocracy of ideas with your execution mechanisms. More and more of the right people start showing up.

And then, by years 9 and 10, we experienced explanation growth in engagement. We experienced exponential growth in value creation for the organization.

Now, what was the shift? The shift was going from this rigidity of just ideas and methods? We do not lose that. We still have great ideas and methods, but we refocus on identifying the right people in our organization. People with purpose, passion discipline, or resilience, and I want you to remember that, because that's going to be key for you as well. It's key in any organization now.

I want to show you another example that we did something similar at in Denver and in Denver was a oil and gas comp company, an energy organization that wanted to go for extraordinary.

But how do you go for extraordinary?

When you operate in a field, that's, it really hasn't had much in terms of great innovations for the last 60 years or so.

Now, don't take me wrong, they're making good money. You know, they provide incredible service to society, but there has not been a whole lot of innovation there, and you want to go for extraordinary.

So, the less than that, the Fro in Denver is that you're trying to go for extraordinary.

You need to define innovation in ordinary terms. So what does that mean?

Let's, let's look at the facts and what happened in the outbreak? In 2010, this company was a $2 billion organization. The market value of this company, or unless it was less than, the book value of the company in 2010.

Just wrap your mind around that.

So many that were not going very far, that time.

We had an incredible CEO who joined the organization, who came of a whole new mindset. And his mindset was our mindset of excellence. And entrepreneurship. In English. In an industry that tends to be very narrow focus that tends to get talent from its own ranks.

He created.

He started building a company and a culture that was the emphasize excellence that emphasize entrepreneurship and different ways of thinking.

And if you fast forward, what was done in the next few years, we establish a meritocracy of ideas with clear execution mechanisms that could be accessed by all in your organization. We develop collaborative leadership as a core organizational capability, and by 2017, this organization was delivering more than 2000 innovations per year.

These are documented innovation projects done by all employees across the organization. We've validated financial benefits, greater than a billion dollars in EBA.

Now, this is the path.

It's not easy, but this is the path, it requires you to be concise, chronically consistent with repurpose, create a meritocracy of ideas with clear execution mechanisms, and develop collaborative leadership skills and innovation execution skills that deliver value.

And eight years later, by 2018, this company had achieved a market valuation of $35 billion.

From two billion to 35 billion in an industry that is supposed to be, quote unquote, dying.

You have nearly an 18 fold increase in market valuation, built on a culture of excellence and innovation led by a very strong leadership team.

Now, it's about unleashing the power of our people to go for extraordinary. If you could zoom in into this picture, you would see mean, they're standing next to thousands of our professionals who are identify ways to create the most value in the shortest time. And simplest means we have technology without technology, with whatever is available to them.

Building a culture of Incra partnership in your organization. A culture of excellence, a culture of innovation, a culture of collaboration.

Now, two, these are the case studies, if you will. So let's go back to the to the critical concepts here, and I want to reveal them with you in the time that we have available.

First of all, you look at something like this: 10 years, it's predicted that 40% of the Fortune 500 companies are no longer exist.

Wow, if you pay attention, and if you look at the bottom line there, this is not a new prediction. This is 2011 when we start for when we first made this prediction.

And everybody who, in 20 11, when I made this predictions and I supported the predictions from the Babson College School, they said, Oh, come on, That's fearmongering, The Fortune 500 companies will be here for much longer than that.

And it's 40%. that's too high.

Well, listen to this by 2019, not 10 years, but eight years after this diction.

What made?

And before the pandemic happened. So, you can't say that.

This happened because the pandemic over 50% of the Fortune 500 companies on that list no longer existed. So, yes, we're wrong.

We under predicted the destruction rate that's going on. What do you think is going to happen in the next decade? Do you think it has slowed down with a pandemic on top of it all?

Know, we're probably going to see this rate in the next 5 to 10 years again if not faster because such is the base of disruption in the world by many forces from global warming, from, from technology disruptions from, from all sorts of socioeconomic changes that are taking place in the world right now. So, the question becomes, in this very volatile, unpredictable future, how can you predict what the future is, just say, how can I plan, you have kind of this very systematic disciplined approach to to taken on innovation. But how can you do that in a very unreliable future? So what is the best way to predict the future? And I'll tell you what, the organizations that I advise, especially the large ones, what they normally look like, they look like this. They sit on the big desk and they are talking about predictions of the future.

Ladies and gentlemen, there are only two types of people who predict the future, those who don't know. And those who don't know that they don't know.

So these people sit around the table.

I don't know what type they are, but to cover themselves up, you know what they do. They hire the best in the industry. They hire experts. They hire a forecasting, but they buy multi-million dollar forecasts forecasts. There are typically wrong.

They do scenario planning, and they invest in these so-called robust planning tools. They're all wrong.

There are all wrong That works really well when you have a very linear future, which is a representation of the past.

It doesn't work very well when when we have a non-linear.

Fast changing, uncertain future, which is likely to continue because of all the disruptions that we're experiencing. So the question becomes, OK, my goodness, what do I do then? What is the best way to predict the future?

There's, there's no, there's only one way to predict the future.

And the best, and the only way to predict the future is to create. This is not me. This dates all the way back to Abraham Lincoln talking about it, but we haven't taken the messaging. So weak to predict the future. We have to create it. The question is then, how do you create the future? You create the future.

By setting the stage for innovation in your organizations, and the stage for innovation, or organizations, it's not just applying technology. It's governance is collaborative leadership. It is innovation, execution skills.

The technology portion is somewhat trivial. Compare to this other components, and we need to go go back in there, and I want to go to the fundamentals forest, because there's some misconceptions about awards like innovation and what it is. So if you want to have extraordinary innovation, you must learn to define it in ordinary terms in ways that are accessible to everyone in your organization.

If your innovation is hinged on RPA, ML, and AI implementation, you have you have failed before you started.

Those are just the technologies. Those technologies will come and go, and I'm, and they are not irrelevant, but they're not most, the most important component.

You have to go back to fundamentals with your people.

You have to remember, remind them, that innovation is accessible to all of us, is ordinary. We, as human beings, we're wired to innovate. We just have to tap on that capability.

So innovation.

Ordinary definition, the word angel means new idea, OK? good. So it's must be a new ideas and new idea enough. No, lots of new ideas. That don't, don't get you anywhere.

So I have lots of new ideas all the time, and most of them are useless.

Now. OK, I got is just asked so you're going to talk about new ideas that make things better or cheaper, faster. Oh, OK. Now we're getting into it. Let's say that's new ideas that create value and that's what innovation is in a lot of organizations. Think the way, innovation is, just new ideas. Decorate value. Wonderful. Sounds wonderful. We'll go with that. Well, if you do that, you're 90% wrong because you're missing the most important component.

Because I can go and turn your organization like any other organization around the world, and I can find a cemetery of new ideas that create value.

So the question is, what is missing?

What is missing is the implementation.

There is no innovation without implementation. Your definition of innovation must include implementation. Otherwise, it's interesting. Innovation is the implementation of new ideas that create value. It's ordinary. It's simple. It's incredibly meaningful.

If you have not implemented, you have not innovated.

Yeah, great.

Implementation requires value creation is triple blade length.

Sure.

Yeah.

Of new ideas. that create value very well, But, you know, we know that one size does not fit all, and we know that are different levels of business innovation. Just, have you heard about those? Yes, I have. And there's different levels of business innovation, are core, a JSON, and disruptive levels.

Now, if you look at the portfolio of the most innovative organizations in the world, they, they don't have 100% of their innovations on disruptive and, and technology disruptions.

If you look at the most innovative organizations in the world who are successful, and that's the key. Because just being innovative is not enough.

What you, the ..., the gradient, the re-organization of our time. They have a portfolio of innovations that have are typically 70% on the core.

20% on adjacent says, and the only 10% on disruptive. Now, I could spend four hours just on this, We don't have the time. But I want to remind you of something special view, who is a technology expert.

Technology by itself is not disruptive, what's disruptive is business model disruptions. That technology can enable.

And while we have, is that the media right now, is spend 100% attention to the 10% of disruptive innovations and thereof. And there are organizations out there, they're trying to copy that model, and they're gonna fail, because the most degrading during our organizations do not put all their, all their eggs in the disruptive basket.

They have a portfolio of innovations that roughly follow the distribution important that we understand that now, let's go further. What does it look like? What does this Innovation Value Creation maturity level looks like for great, enduring organizations?

Most of them and most startups start with an individual. That individual just has in brilliance, is just a brilliant individual. Came up with an insight that creates value, and that individual has passion. Has discipline, has resilience, to implement that.

You can make a multi-million dollar organization by having just that, OK, and you see lots of that, lots of startups, lots of companies there'll be multi-million dollar organizations built, really, on the backs of 1 or 2 founders that have that insight and had what it takes to do it.

But if you want to be a multi-billion dollar organization, you need to learn how to scale individual brilliance, entry scale, individual brilliance.

Now, you need the next level and the next level requires innovation systems and mechanisms that translate the principles of innovation into action.

Dose, you, you must establish clear governance, Clear structure for innovation, your organization with clear roles and responsibilities, otherwise, you're not going to be able to scale innovation with excellence and achieve outstanding performance. Now, by all means, you have part of that is growth and technology accelerations when you experiment with disruptive technologies.

By all means, that's part of it, but it's not the most important part.

The governance and the clear roles and responsibilities on the innovation structure for our organization are more important and to get, and that's good. And the organizations that do this, and most organizations were successful around the world, are at this level.

There are multi billion dollar organizations that operate at this level, but now the ultimate level, the multi trillion dollar organization has two competences that build on top of all of this stepped the previous steps. And these competencies are collaborative leadership and innovation acceleration is skills and capabilities.

They have these broadly developed in your organization.

Meritocracies, with, with clear execution mechanisms, with an organization that has a clear purpose, I strong culture and core values that they live by, on a daily basis, and they use innovation. And what they focus on, as a way to reinforce their culture, to reinforce their purpose, to reinforce their core values, but make no mistake, they have highly developed collaborative leadership skills and innovation, execution skills.

So building a culture of collaboration, innovation, and value creation is the ultimate competitive advantage for any organization, regardless of what industry you're on. Now. Again, this is a journey and more and you have to build capabilities as you step in each one of them as you go up the stairway here, but, but you must understand what the space looks like for Great, Enduring Organizations now.

Let's summarize as we wrap up up here. And I'm going to do this a quick wrap up in the last six in the last six minutes, or so we have here. What matters most ideas, methods, technologists, or people?

It is indeed people.

Now, you need to have all of those components. You need to have a meritocracy of ideas of clear execution mechanisms. You need to have methods with a disciplined framework for innovation execution.

You need to find the right technology that enables your core business processes to be faster, cheaper, better, And you need to find the right people in your organization.

Not just if you make it accessible to all, but you create a meritocracy of ideas with clear executions that allow the right people, the amplifiers of innovation and value creation, your organization to re-emerge and these people. What did they have chosen? What did they have?

They have purpose. They have passion. They have discipline, and they have resilience.

And how do you find this people with this combination?

It is your job to create an environment that allows people to emerge. In most organizations, what it looks like, is that you go through this organizations that are really like, well, paid professionals, OK. There are six figure professionals, their work in this very successful organization and you look at them and you think they should be all happy.

But they're not 90% or sour face individuals. We're just going around trying to make money.

And I'm not debating that. But what I'm really interested in, are those happy smiley once they're going to doing their daily work? Because there are two possibilities there.

Either they're delusional, happy.

Or they found alignment between their personal purpose and the professional purpose that they have developed over the years. And those people are special. Now, how do you identify those people?

You need to inspire them, You need to inspire a self motivated individuals in your organization to achieve greatness. And the way to do that is to create a meritocracy of ideas with clear execution mechanisms.

These people are going to gravitate towards that.

The other 80% or so, are just going to be on the sidelines watching to see what's going to happen, OK, but you don't care. You focus on these self motivated individuals, you inspire them to do greater things, and you must follow that up with clear execution mechanisms.

Clear Mexic Sushil mechanisms for value creation and the strategy execution through, they're all through excellence.

And through innovation, Once those individuals have that, you have to equip them with collaborative leadership skills, you have to equip them with innovation, execution skills, You have to equip them with the appropriate methodologies for disciplined execution of innovation.

By all means, you have to equipment with them with that, but it is up to them to own their ideas. It is up to them, to mature and grow their ideas, And it's ultimately up to them, to collaboratively lead.

They're ideas to success, and when they do that, of course, what do you do? You celebrate them with the entire organization. You celebrate them, because they become role models of collaborative leadership, role models of innovation execution, for value creation and a strategy execution.

Now, the others who are a bit skeptical now look at the role models. And this is not some person who was a leader at Google and Facebook or Tesla. This is someone who works from my company and is delivering disproportional value to the organization to our clients into all of us in our work environment. And I can be like that person because he just, he or she is just a colleague of mine.

So now you have democratized innovation your organization. And what happens, Dan, over a long time, and I'm not talking about 1 or 2 years, anybody can do this for 1 or 2 years, or, most people can.

If you do it for 10 years or so chronically consistent with your purpose, you're gonna end up with an organization that looks like this. There is a full alignment of personal with organizational purpose and individual, personal, and professional purpose. We have clear execution mechanisms for delivering value to A, to our clients, to our stakeholders, into society.

To summarize and wrap up, remember, the great innovators in your organization are not coming from other companies. It's you, and it's the people who work for you right now.

They are suffocating, and you have to allow them to emerge, how do you allow them to emerge? You allow them to emerge by creating a meritocracy of ideas with very clear execution mechanisms for them.

They will emerge people with purpose, passion, discipline, and resilience. You're going to have to guide them and teach them to take different perspectives at problems so that they come up with innovative solutions.

And then they have to learn also to scale those solutions.

But the ability to take different perspectives of the problem is an ability that can be taught. And they there are methods that we can that we can, that we can teach them to develop those capabilities.

We also have to teach them to develop courage because courage is necessary when you're stepping into Intune each into new environments.

By all means, you have to manage the risk, but you still have to have courage and a tolerance for experimentation and the inevitable failure that's gonna come with it, and ultimately, you have to remember that it's your responsibility as a leader to create an environment where great people in great ideas can connect.

This is your ultimate responsibility.

when you look historically at what accelerates innovation in organizations and even society as a whole, it is not about just capital investment or technology, it is about creating environments where great people and great ideas can connect.

So, ladies and gentlemen, I do not have a crystal ball that predicts the future.

What I can tell you is that great, enduring organizations have this, have develop core capabilities for collaborative leadership and innovation execution.

On top of all the basic things, that I discussed on the stairway analogy, you must have clear governance. You must have a structure for innovation acceleration with clear roles and responsibilities.

It is this, it is a small, but you must develop that. And as a leader, you must develop stewardship of innovation in your organization. Now, for the next two years, I want you to think for the next decade, what is it going to be like?

And do you have the purpose, the passion, to discipline, resilience, to build a culture of excellence and innovation as your ultimate, sustainable competitive advantage.

So, as we continue to discuss, technology, as we continue to discuss, methods, people, and ideas, I hope that you can take this concept with you.

And I hope to see you in a decade for now and see how you have been chronically consistent with that purpose of accelerating innovation, collaborative leadership development, and in the execution for value creation. So, pleasure to be with you. We are going to, you know, that you can follow me or follow us on our journey, on LinkedIn. This is my, our direct e-mail and the site. Honestly, I don't use the site very much, because there's a lot of stuff going on today with great organizations around the world who are doing, who are, who are building cultures of excellence and innovation. And, so, I'll wrap up the session, and set up the next one, if you have questions for me, centered, that he may or police, Info Excellence and innovation dot com. You can also connect to LinkedIn, and the, and the and ask a question. They are on a group. If I can answer publicly, I will. So, our final session will come at the top of the hour, and we're gonna have, how in front electrolux, here, leader for intelligent automation, electrolux. These are the type of people that I love to work with.

Because it's not some theoretical person discussing with you. It's a practitioner who is implementing intelligent automation, artificial intelligence, RPA, and all those wonderful technologies to accelerate innovation for value creation at electrolux. So, he's going to wrap up the conference for us at the top of the hour, And I'll see you then. Thank you.