Presentation of Funky Business in the Innovation Reading Club in CITEXVI. Done by Angela Vazquez

1. Angela Vazquez Quintian
READING CLUB - CITEXVI
8 NOVEMBER 2011

2. THE BOOK
“Manifesto of what our time requires from
business firms and their leaders“
Key words:
 Global Village
 Talent
 Competitive advantage
 Tribalization
CITEXVI - 8 NOVEMBER 2011

3. THE AUTHORS
Dr. Kjell A. Nordström Dr. Jonas Ridderstrale
• Consultant, writer and public speaker. • Business speaker, writer and thinker.
• Focused on corporate strategy, • Specialized in international business,
multinational corporations and global innovation, and product
globalization. development efforts in multinationals
• Responsible for the International • Visiting professor at Ashridge Business
Business course at Stockholm School School (UK) and IE Business School
of Economics. (Spain).
The 2005 Thinkers 50 ranked Nordström and Ridderstråle at number nine internationally
and put them on number one of Europe business gurus.
CITEXVI - 8 NOVEMBER 2011

4. OUTLINE
 FUNKY BUSINESS F
 FUNKY TIMES  FUNKY S.A.
 FORCES OF FUNK  YOU FUNKY
 THE FUNKY VILLAGE  FEELING FUNKY
 CONCLUSION
 DISCUSSION
 PROPOSALS FOR NEXT R.C.
CITEXVI - 8 NOVEMBER 2011

5. FUNKY TIMES (I/II)
In the past, a company had a great idea and exploited it for years before
competitors. Then, the original idea was repeated in another country for
more years.
PRESENT: making the difference gets harder
 Talent Highly qualified employees
 Globalization No borders
 Time Living in real time
CITEXVI - 8 NOVEMBER 2011

6. FUNKY TIMES (II/II)
FUNKY FUTURE
 Future is unknown, but who is going to create it?
 People able to develop change, evolve, innovate!
 But in a society of high diversity, is innovation enough?
 Change must be fast and unique to maintain competitive advantage
 FUNKY BUSINESS should renew its organization:
 Management
 Leadership
CITEXVI - 8 NOVEMBER 2011

7. FORCES OF FUNK (I/II)
Socio-economic landscape is changing rapidly so it’s required
to understand the main forces behind:
INSTITUTIONS
TECHNOLOGY DRIVE VALUES
CHANGE
CITEXVI - 8 NOVEMBER 2011

8. FORCES OF FUNK (II/II)
TECHNOLOGY
 IT get better and faster
High connectivity Total Transparency POWER
INSTITUTIONS
 The evolution in institutions is slow but has great impact on our world.
 Capitalism, nations, companies, family concept are being renewed.
VALUES
 In the past, the values where local, currently are global
 But still move the individual, the society, the corporations.
CITEXVI - 8 NOVEMBER 2011

9. FUNKY VILLAGE (I/II)
Who can define the world today?
 Deregulated global economy
 Surplus of everything
 Fusion (ideologies, food, product/services…)
 Customization: the customer as a co-designer/producer
 Tribalization: new tribes based on attitudes, experiences or knowledge
 Personalization: everybody can be absolutely unique
CONFUSION
How to compete in this world?
CITEXVI - 8 NOVEMBER 2011

10. FUNKY VILLAGE (II/II)
Anybody knows Wally Masur?
 He’d been among the 50 best tennis players.
 He never signed a publicity contract.
 What about Sampras, Agassi or Nadal?
 Being the best is an ADDED VALUE
FIRMS WANT THE BEST ONES!
CITEXVI - 8 NOVEMBER 2011

11. FUNKY S.A. (I/V)
 How the future firm will be and operate?
“The future firm must thrive on its ability to be different and add value in
new ways.”
The company of tomorrow profits from the changing circumstances and the
unpredictability of our times, FUNKY S.A. is:
INNOVATIVE
FOCUSED LEVERAGED
HETERARCHICAL CITEXVI - 8 NOVEMBER 2011

12. FUNKY S.A. (II/V)
FUNKY S.A. FOCUSED:
The future company won’t try to do everything for everybody; they try to
make meaning to concrete persons.
MARKET
NICHE
FOCUSED
PRECISE TRIBE
BUSINESS ORIENTED
CITEXVI - 8 NOVEMBER 2011

13. FUNKY S.A. (III/V)
FUNKY S.A. LEVERAGED (reinforcement):
INTERNAL (responsibility of each employee)
 Knowledge exchange GAS LIQUID SOLID
 Transforming knowledge
IDEAS EXPLANATION PROPOSAL
INDUSTRIAL
 Entering new industries based on identified customer’s attitudes.
 Example: merchandising for fans, in addition to music products.
INTERNATIONAL
 Global thinking and action
CITEXVI - 8 NOVEMBER 2011

14. FUNKY S.A. (IV/V)
FUNKY S.A. INNOVATIVE:
 Re-inventing strategy
 Fast actions
 Innovate with intelligence
 Combine homogeneity with
heterogeneity
Each company should
find the special receipt Richard Branson - Owner
CITEXVI - 8 NOVEMBER 2011

15. FUNKY S.A. (V/V)
FUNKY S.A. HETERARCHICAL:
 Hierarchies of different classes.
 Spaguetti structure: apparently is chaotic but each
employee correspond to a set of resources.
 Features of the Funky structure:
o Smaller: more creativity
o Flat: problems and process are solved faster
o Temporal: based on projects and teamworks
o Horizontal: any event implies several areas
o Circular: 360⁰ perspective to enhance auto-organization
o Open: partnering, networking
o Measured: to identify achievements CITEXVI - 8 NOVEMBER 2011

16. YOU FUNKY (I/II)
How to organize a funky company?
 Forces: dynamism, risk and constant value creation
 Leaders
 First step: getting the right workers
 Must lead employees to creativity
 Workers demand:
 Orientation
 Tolerance
 Interest
 Attention
CITEXVI - 8 NOVEMBER 2011

17. YOU FUNKY (II/II)
Successful FUNKSTER:
• BEING UNIQUE
• BEING A BRAND
• BEING CONNECTED
Management of Dreams
 Power consists on providing interesting dreams to move
the persons.
CITEXVI - 8 NOVEMBER 2011

18. FEELING FUNKY
The Holy Grail of Business
 Temporal monopoly (meaning market niche)
 How?
 Making the difference:
o Low cost
o Added value
 Exclusivity: an idea, marketing strategy, packaging, culture…
 Based on Emotional Competence (emotions and imagination) to
understand the customer and coworkers.
 Infinite Innovation
 Emotional Company
CITEXVI - 8 NOVEMBER 2011

19. FUNKY EXAMPLE
GOOGLE FORMAL FRIDAY
http://bcove.me/wvi5p2hr
CITEXVI - 8 NOVEMBER 2011

20. CONCLUSIONS
 Importance of teamwork:
 Innovation starts with each worker
 Leaders must propitiate creativity
 Funky structure: flat and circular
 Defining core values is a step to motivate and encourage
employees TRIBALIZATION
 Thinking global is the key, ideas have no limits
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21. THANKS FOR YOUR
ATTENTION
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23. PROPOSAL 1
A book that challenges individuals, businesses and nations
to create originals rather than cover versions.
CITEXVI - 8 NOVEMBER 2011

24. PROPOSAL 2
GUY KAWASAKI
 Silicon Valley Venture Capitalist
 Apple Fellow
“Guide for anyone starting anything”
CITEXVI - 8 NOVEMBER 2011

25. PROPOSAL 3
“The rol of storytelling in business sucess.”
CITEXVI - 8 NOVEMBER 2011