Miranda Cresswell of Onefinestay and Mark Collin of ThoughtWorks Retail discussed 'Driving Business Model Innovation' at Retail Week Buzz 2016 in London

1. MODERN RETAIL&
BUSINESS MODEL
INNOVATION

2. 2
AMODELOFMODERNRETAIL

3. 3
It is not the strongest of the species
that survives, nor the most intelligent
that survives. It is the one that is most
adaptable to change.

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EVERYONE HAS THEIR OWN VIEW
ON TRANSFORMATION & CHANGE
Klaus - CEO - Alcoa
WHAT:
Tech Innovation
(3D Printing)
WHY:
• Reduction in time to
market
• Reduction in
Experimentation timescales
Jean-Pascal - CEO –
Schneider Electric
WHAT:
IOT & Analytics
Cloud
WHY:
• Real time monitoring and
optimisation
• Realisation that data is key
• Partnerships to do the
simple things
Meg - CEO - HP Enterprise
WHAT:
Organisational Speed
Automation &
Orchestration
WHY:
• “The future belongs to the
fast”
• Combined Business & IT
Strategy
Bernard - CEO - Kaiser
Permanente
WHAT:
Business Model Innovation
(New Channels)
WHY:
• Customer Feedback / risk
of being left behind

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Vision
Ways of working Software
delivery
C U L T U R E
DIGITAL & ORGANISATIONAL
TRANSFORMATION THEMES

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THE GAP BETWEEN THE MOST PRODUCTIVE
FIRMS AND THE REST IS GROWING

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LEANENTERPRISE

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INNOVATIONCHATTER

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INTERSECTIONS OF
INDUSTRY
Big gaps for Business Model Innovation

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CONSUMER
(Retail)
COMMERCE
(Financial
Services)
CONTENT
(Media &
Publishing)
CITIZEN &
COMMUNICATES
(Govt & NGO’s)

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INTERSECTIONS
OF DOMAINS
Medium gaps for Business Model Innovation

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CONSUMER
(Retail)
COMMERCE
(Financial
Services)
CONTENT
(Media &
Publishing)
CITIZEN &
COMMUNICATES
(Govt & NGO’s)
SUPPLY CHAIN
DELIVERY
RESTAURANT
FOOD

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CAPACITY & SUBSCRIPTION
MODELS (D2C)
‘spares’ for Business Model Innovation

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ECOSYSTEMS & IAAS
Big openings for Business Model Innovation

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PLATFORMS
for Business Model Innovation

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Vision without execution
is just Hallucination.
– Thomas Edison

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CLOSINGTHEGAP
CATCH UP
Disruptors
Everyone Else

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INNOVATION(TOVALUE)CYCLE
Innovation Labs!
Intrapreneurship!
Geurrilla Clubs!

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CLOSINGTHEGAP
CATCH UP
Disruptors
Everyone Else

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TECHNOLOGYISNOWTHEBUSINESS
Business
Tech@Core
Tech
Tech
Business
Collaboration
Business
Tech Led Differentiation
Business
Supporting Role
Tech
Tech
3rdIndustrialRevolution
4thIndustrialRevolution

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PEOPLE OPEN MINDS
STRONG LEADERS
DOUBLE Business Model Innovation

25. Nextfix
1. SELECT A COMPANY
$10
2. CHOOSE AN AMOUNT
INVESTINSTOCKS
25
0.1121 shares
3. BECOME AN OWNER

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OWNERSHIPCHANGESBEHAVIOR
+54%
+33%
+26%
+10%
+68%
+107%
Annual Spend
Share of Wallet
Price Premium
Tenure
Frequency
Of Visits
Referrals
Source: Bain & Company

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OURPRODUCTS
Offer employees, customers and partners
IPO access at the same price as Wall Street.
Social IPO™
Gift stock as a brand-positive promotion to
consumers and partners.
Stock Rewards™
Offer people connected with your company
an easy, fee-free way to buy your stock.
Social Stock Plan™

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GOAL
Transform their IPO into a brand engagement event --
a way of saying “thank you” to those who matter most.
SOLUTION
Offer employees, consumers and fans access to
IPO shares -- at the same price as Wall Street.

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REWARDINGPEOPLEWHOMATTERMOST
”While with most IPOs ‘friends and family’ are
defined as a few select people, with our IPO,
you’re all our friends and family."

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PARTINGTHOUGHTS
Stock Rewards lets
ALL consumers
become owners.
Ownership is the
world’s first
behavioral currency.
Ownership is
the ultimate
Like button.

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SUCCESSDEPENDSON
• Prioritise based on customer experience – experience matters most
• Metrics that matter – can you measure, are they the right ones for BMI
• The right people and vision – is their an open innovation culture?
• What does your brand say – innovative and an open door?
• The right platforms/technology – can you experiment fast enough?
• Failure is ok – but are you learning
• Time – are your people given time and space to create?
• Can you win the war for talent on Digital and attract entrepeneurs?
• Getting out of the building!

34. THANKS
www.thoughtworks.com/retail
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