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Infographic: These Naysayers Wrongly Predicted the Future

You’ve probably had an idea or two that was shot down by those around you. Too unrealistic. Doesn’t suit the market. Too much work to be feasible. Too “out-of-the-box”.

We’ve all been there. We’ve all had second, or maybe even third thoughts about our brilliant plans for the future. But if there’s anything to be learned from history, it’s to never let the doubters and naysayers get you down.

If you believe enough in your idea and work at it, you will definitely make it a reality in the future. Good luck, and stick to it!

a-brief-history-of-doubters-infographic

What quotes from your doubters would you like to change in the future? Let us know in the comments below, and prove them wrong! 

 

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Global Drucker Forum 2016: Considering the Entrepreneurial Society

Over at Engage//Innovate — a strategy and consulting firm, we view the challenges of the entrepreneurial society through the prism of the Norwegian oil and gas predicament.

Over the past 40 years, oil and gas has played a large role in the strong growth of our economy. About a quarter of our entire GDP is tied to oil and gas extraction.

Considering its significance to the Norwegian economy, the structural decline of the oil and gas industry which began in 2014, has spurred the government and businesses alike to rethink the state of entrepreneurial policies, politics and corporate ventures.

Building Transformational Capacities

Few could claim any reasonable sustainable solutions to the challenges ahead, and many have tried to address them in a very simplistic manner.

For instance, the Norwegian government — through overly-simplistic budgetary policies — have swept aside the complexity inherent to a global economy by simply putting more money on the table.

Drucker would have said “governments were unable to play such a role in a rapidly changing environment of globalization, digitization and accelerating disruption.”

Historically operating in a local marketplace, the companies across the oil and gas value chain within the original firm have suffered greatly in the face of rapid change due to their inherent corporate and monopolistic behavior.

Building transformational capacities in a global entrepreneurial economy is still a work-in-need-of-great progress.

Innovating for PR

While one could reasonably argue that creating space mining adventures, sub-sea factories, floating hotels and solar plants on water all indicate a corporate behavior for innovation, in reality these are little more than mere PR stunts.

The big question that arises is “what is truly the role of the state vs the entrepreneur in the face of a structurally declining oil and gas industry?”

Equally important is the regulatory intervention played by the state, through economical policies which protect the past rather than help companies think beyond tomorrow.

In a nation state where the job growth over the past 4 years has mostly been from the public sector, little evidence except for PR stunts support the notion of a truly entrepreneurial society.

The Future of the Norwegian Economy

Looking at today’s market capitalization of Tesla vs Statoil, one can clearly tell where the investors are placing the future.

In this age of digitally transparent and connected marketplaces, governments should refrain from protecting the past and instead let Schumpeter’s notion of destruction run rampant. Only then can our national economy, arising from the age of the vikings, truly grasp the entrepreneurial society.

We greatly fear that should civil and political leadership fail at their significant tasks, we will be left with the society in upheaval and disturbingly receptive to populism politics.

In the face of these challenges, the overarching priority for any executive team should not primarily be serving shareholder value, but truly taking a long-term view and build deep, lasting, transformational capacities.

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Read next:
Transforming a Nation: How We Helped Companies Build New Growth Ventures in Days, Not Years

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9 Steps to Make Innovation Happen: An Infographic

In your latest move to drive innovation in your company, you’ve probably kick-started a channel for new innovations and have collected hundreds of ideas. You’ve probably had a few meetings to discuss and review these ideas and maybe even a rough action plan drawn up.

Everyone is fired up, but now is when the real work begins.

Intent alone is not enough to grow a great idea into a solid new business model that is sustainable and profitable. You need the right people, right implementation and right tools. Most importantly, you have to be willing to pull up your sleeves and do the grunt work of seeing it through.

These 9 steps outline how you can make innovation happen:

how to make innovation happen: an infographic

The strategy tools for business model innovation discussed in the infographic can be downloaded for free on strategytools.io.

Text content an excerpt from our book Dream Bigger.

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What are your biggest difficulties when it comes to implementing innovation? Join the conversation in the comments section below:

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Transforming a Nation: How We Helped Companies Build New Growth Ventures in a Week