Hong Kong Productivity Council (HKPC) and INC Invention Centre coorganized Seminar named “Smart Innovation for new business models in Industry 4.0 and Enterprise 4.0” on 16th July 2019. The seminar aimed to introduce the know-how and methods of how successful start-ups in Silicon Valley and elsewhere have transformed their business , with implementing agile project management, design thinking and customer-centric innovation as well as how to leverage the power of Industry 4.0 (i4.0) and Enterprise 4.0 (e4.0) to apply digital business models. I took a photo with Mr. Partick Kabasici in front of the INC Invention Centre.
Mr. Patrick Kabasci (Technology Management, Fraunhofer IPT, KEX Knowledge Exchange AG) was the speaker and his topic named “Innovation for new business models”. Firstly, he discussed some companies did not change using sailboat as example. Eventhough we added more sail in the boat, it did not faster than steam one.
He then quoted Clayton M. Christensen (his theory of "disruptive innovation") that most executive compared the cash flows from innovation against the default scenario of doing nothing. But the assumption was wrong because of discounted cash flow without innovation investment.
And then he briefed the Business Model Generation (Osterwalder, 2013) in which had 9 building blocks of a company. It could be associated with the four fundamental clusters Customer, Product, Abilities and Finances.
After that Patrick briefed three measures to be a world-class innovation and they were “Innovate with Customer”, “Focus Core Competence” and “Network with Partner”. He also mentioned companies faced with increasing Volatility, Uncertainty, Complexity and Ambiguity (VUCA).