Rethinking Business Models: Creativity Inspired Innovation Dr Peter Kelly School of Science, Aalto University

Innovation is the act of introducing something new

Creativity is an ability to think up and design new inventions, produce works of art, or solve problems in new ways, or develop an idea based on an original, novel or unconventional approach

Innovation Force Index 2010 Country (Aggregate Index Score) Sweden 441 Denmark 438 Norway 410 Finland 311 INDIVIDUAL: degree of job satisfaction & influence on job 29%34%31%18% ORGANIZATION: culture supports innovation, learning & adaptability 16%12%13%11% INITIATIVE: innovative intent, innovation competencies & idea production 35%29%20%15% MANAGEMENT: how well new ideas are received & handled 27% 30%25% PROCESSES: level of internal cooperation, external involvement, tools 14%19% 15% IT IS VERY IMPORTANT TO BE CREATIVE & INNOVATIVE AT WORK 59%49%32%26% Source: The Rise of the Creative Masses (Innovation Inside)

To get to a more innovative place we need to creatively explore

Contrasting Thinking Styles

Dominant Thinking Style?

Analytical Thinkers Show me the proof What do I tell the press? NDA Why? NO

Embracing Intuitive Thinking Chief Creative Officer (publishing) Chief Experience Officer (banking & Starbucks) Chief Imagination Officer (Fast Company) Chief Exploration Officer (oil & gas and …)

Or Better Yet Design Thinking

Universities Have Algorithms

Companies Like Profitable Routines 13 week reporting cycles

The natural bias is towards incremental innovation of new & improved routines

Apple vs Nokia

Don’t discard routines challenge them and Creatively explore new ones

creativity is context inspired

Is Creativity Likely to Happen Here?

Or Stanford D School

Is Creativity Likely to Happen Here?

Or Ideo

Aalto Creative Hotbed: Design Factory

Welcome To Our Idea Studio

Plenty of PostIt Space

Creatively Practice Effectual Entrepreneurship

What Can We Do With Our Means?

Risk Little, Fail Cheap

Create Solutions With Partners

World’s First Jumbo Hostel

New Co-Creation Possibilities

Embrace Surprise

Inspiring Creativity in Companies CEO as Chief Exploration Officer Free up exploration time Get out of the routine arena (the office) Outsiders bring fresh perspectives – Entrepreneurs as allies not antagonists – Work with students on multidisciplinary challenged based projects (new products, new concepts)

Inspiring Creativity in Catalysts Encourage proponent lead due diligence Support co-creation efforts that create innovation between research, new venture and established business communities Failure as a success criteria “Stuff we don’t know” compartment

Inspiring Creativity in HEIs Idea studios in addition to lecture theatres Develop multidisciplinary applied initiatives and problem or challenge focused programs Encourage surprise (and sustained) encounters between companies, catalysts, researchers, alumni and students

Creativity is the road less traveled but one we need to explore to get to a better and more innovative place

Thank you !