You cannot plan innovation. It is about the mindset that will discover and solve the problem in an innovative way. And yet, it is the key to resilience for business and society.
That is why the Innovation Lab is one of the key highlights of the MBA program at IMD. The whole week is dedicated to developing our innovation mindset. Starting with ideation, to prototype development, and finally delivery of the business pitch, the week takes us through a roller coaster ride.
How it’s going
We are now in the middle of the innovation week. My team is working on one of the UN’s Sustainable Development Goals (SDG’s) and solving a real business challenge for our chosen organization. We selected the goal of responsible consumption/production. This involves prototyping an idea for setting up a business model for the circular economy for electric vehicles. Luckily I am joined by exceptional teammates comprising Alicia Gong, Simone Grancini, Johnny Barhouche, and Chao Yang.
Professor Mark Greeven is providing us with the theoretical knowledge and Ala Sader is adding practical advice on implementing our ideas. This great mix has helped us internalize the innovation process, which can be repeated for any product or organization.
There’s no better way to learn something than learning it from someone who has done it. Mr. Dominique Kull, the Head of Technology for Bühler Group, Southeast Asia, gave us a talk on how important innovation is. He also shared the kind of benefits it confers to those taking the leap into uncertain waters. Yes, there is a risk in leaving the security of a port, but there is also a risk in never venturing out.
The Road Ahead
Over the next couple of days we will play Dr. Strange and stress test the viability of our business model. We need to explore multiple scenarios and finally prepare the delivery of our pitch to a jury.
Real Learning Real Impact.