{"id":22619,"date":"2016-05-26T15:34:46","date_gmt":"2016-05-26T07:34:46","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=22619"},"modified":"2016-05-28T09:20:09","modified_gmt":"2016-05-28T01:20:09","slug":"generation-key-biz-innovation-lses-christian-busch-2","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2016\/05\/26\/generation-key-biz-innovation-lses-christian-busch-2\/","title":{"rendered":"\u201cGeneration \u2018Why?\u2019\u201d key to biz innovation \u2013 LSE\u2019s Christian Busch"},"content":{"rendered":"

\u201cIf we take man as he is, we make him worse. But if we take him as he should be, then we make him capable of becoming what he can be.\u201d
\n<\/em>\u2013 Goethe<\/strong><\/p>\n

SINGAPORE \u2013 A version of social enterprise \u2013 that is, businesses that are developed to respond to social needs while earning doing this, instead of simply offering services only to\u00a0earn \u2013 is fast emerging as the ideal in business innovation. This is according to Dr. Christian Busch, associate director, Innovation and Co-creation Lab, London School of Economics, who said at NetEvents 2016 that \u201ccompanies are changing so that they develop solutions that are not only responding to business needs but also to answer social issues.\u201d<\/strong><\/p>\n

\"Christian<\/a><\/p>\n

\u201cWhat we see now emerging is companies trying to understand what they want to change, who they want to reach, and so on. Thus the focus is on the outcome first, and then build the solutions\/approaches around it,\u201d Busch said.<\/p>\n

For Busch, this is a result of what he called as \u201cGeneration \u2018Why?\u2019\u201d \u2013 that is, this group of people that is not necessarily defined by any category (such as age group) but the \u201capproach to developing businesses that respond to needs (thus the \u2018Why?\u2019)\u201d.<\/p>\n

Members of \u201cGeneration \u2018Why?\u2019\u201d has the \u201cmindset of questioning things,\u201d Busch said. This, in turn, introduces a response to the \u201c\u2018enlightened circle\u2019 of needs.\u201d And the approach of \u201cGeneration \u2018Why?\u2019\u201d could help make businesses not only thrive, but even survive.<\/p>\n

These \u201cenlightened circle of needs\u201d fall into various categories.<\/p>\n

For one, there\u2019s the \u201caction-driven purpose\u201d. Here, \u201crather than saying, say, we build a company and then an NGO; we say instead, \u2018How can we integrate that into the company?\u2019\u201d As such, there is a \u201cshift away from what they do, but why do we do what we do? First comes the purpose, then comes the product \u2013 not the other way around,\u201d Busch said.<\/p>\n

Another is the \u201cgenuine value\/s\u201d. \u201cAside from the different products you have, what do you stand for? What are your corporate values? It makes people proud; it gives them meaning,\u201d Busch said.<\/p>\n

Yet another is the re-focus on \u201cincentives\u201d \u2013 that is, \u201cwe veer away from just counting (what we sold). Instead, we measure what really matters to people.\u201d This way, \u201cwe check the outcome not just for the company but the impact to the customers of the company.\u201d<\/p>\n

Busch said that this approach to doing business could actually save companies. That is, \u201cif they don\u2019t adapt, the harsh answer is that they will go out of business.\u201d And even if they do survive, these businesses \u201cwon\u2019t attract the best people.\u201d So that in the end, \u201cit\u2019s between survival and doing the best that you want to do with your company,\u201d Busch said.<\/p>\n

There are steps that business can take to evolve in this direction, including: shaping of a culture of innovation; moving from product to experience (\u201cNow it\u2019s less about physical artifacts but more about the experience with them,\u201d Busch said); and building effective social networks (i.e. to do this, businesses should create parameters based on shared values, identify and empower ambassadors, facilitate decentralized connectivity and engender lateral accountability).<\/p>\n

\u201cWe\u2019re moving away from just product innovation,\u201d Busch said. Now, \u201ccompanies create value. They respond to bigger societal issues \u2013 one of the big things is looking at issues to solve, so we don\u2019t just have apps (for instance).\u201d Because mainly, \u201cif you want to scale at the same time to have an impact, you need to change your approach,\u201d Busch ended.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cWe\u2019re moving away from just product innovation,\u201d Christian Busch said. Now, \u201ccompanies create value. They respond to bigger societal issues \u2013 one of the big things is looking at issues to solve, so we don\u2019t just have apps (for instance).\u201d Because mainly, \u201cif you want to scale at the same time to have an impact, you need to change your approach.\u201d<\/p>\n","protected":false},"author":2,"featured_media":22616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,22],"tags":[4378,645,4379,4034,4376,4377,96],"class_list":["post-22619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-spotlight","tag-business-model","tag-csr","tag-generation-why","tag-innovation","tag-social-enterprise","tag-social-entrepreneurship","tag-technology"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/22619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=22619"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/22619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/22616"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=22619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=22619"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=22619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}