Reframing Innovation in Higher Education Sector

 

Reframing Innovation in Higher Education Sector

Hands Up
Why Transform?
The unit objectives are to investigate what kinds of
factors influence the international business strategies
within an organisation to work towards
achieving a competitive advantage.
ADAPTReframing Innovation in Higher Education Sector
8 year old Research & Advisory Firm
Vision
ADAPT’s vision is to make Australia a more commercially competitive,
productive and differentiated global player.
Execution
Equipping executives with the knowledge, relationships, inspiration and
tools needed to gain competitive advantage.
Anthony Saba
Senior Director | Advisory Services Reframing Innovation in Higher Education Sector
ADAPT Ventures
Mounting Pressures
Disruption
New Business Models
Exponential

Our intuition about the future is linear. But the reality of
information technology is exponential, and that makes a
profound difference. If I take 30 steps linearly, I get to 30. If
I take 30 steps exponentially, I get to a billion.
~ Ray Kurzweil
Mounting Pressures
• Accelerating pace of change
• Product lifecycles are compressing at a significant rate
• Competition intensifying
• 2010 (1.2 Billion) -> 2015 (2.8 Billion) -> 2020 (7-8 Billion) People Online
• Barriers of entry reduced
• Marginal Costs lower than ever
• Millions of jobs being automated
By 2029, we will be able to meet the entire worlds energy needs
through Solar alone.
The rules in which our social, political and economic structures were
designed and built on are changing – putting everything we’ve know at
risk of disruption.
Fundamental Shifts in our Societal
ArchitectureReframing Innovation in Higher Education Sector
Pressure = Fear Reframing Innovation in Higher Education Sector
A state of fear and uncertainty makes it hard to think long term.
Mining in Oz
Australia’s Second largest export is Coal – We supply 38% of the worlds
demand
• Politicians will proudly tell you that Coal exports increased by 49%
from 2008 – 2016.
• They wont mention that in that time, the value of those exports
collapsed 38%…
• 2016 = Solar power became cheaper than coal.
• 2017 = Wind power is cheaper than coal.
From Fear to Opportunity
How long are strategic roadmaps in most traditional businesses?
3-5 years
This isn’t effective anymore. Incremental changes will happen resulting
in better operational efficiencies, but the business wont transform.
Re-Define Strategy
All of our organisations are built to resist
change and withstand risk.
We run them on KPIs, 5 year strategic plans
with standard operating manuals.
The are built for predictability, reliability and
failure is not acceptable
From Fear to Opportunity
Zoom Out: 10 – 20 years
• What is our industry going to look like in that timeReframing Innovation in Higher Education Sector
• What kind of company do we need to be to thrive in that world
Zoom In: 6 – 12 months
• What are the 2-3 initiatives that need to pursue to have the greatest
impact in accelerating our progress to the end goal
• Do we have critical mass of resources against those 2-3 initiatives.
Re-Define Strategy Reframing Innovation in Higher Education Sector
Zoom out Zoom in forces focus in  the short term, driven by a
sense of destination of where we need to go in the long
term. That’s powerful.
One of the key issues in a rapidly changing world, is
maintaining focus.
~ John Hagel
Traditional Innovation = Product or Process
Institutional Innovation: Why do we have large institutions?
Ronald Coase found something we all know to be true: It is easier and
lower cost to coordinate activity across a large number of people if they
are all in one institution.
Move from Scalable Efficiencies toward Scalable Learning (Leveraged
Growth, Ecosystem Partnerships etc)
From Fear to Opportunity
Re-Frame Innovation
The traditional approach to scalable efficiency worked very well
in more stable environments. That’s what made it possible to
specify in advance, standardize and tightly integrate. But, how
well does that approach work in a world that’s more rapidly
changing, with more and more uncertainty and unexpected
events that no one anticipated?
~ John Hagel
Legacy modernisation
Integration
Data Analytics
AI
Machine Learning
Chatbots
Automation
From Fear to Opportunity
Re-Think Transformation
=
DOING THE SAME THINGS
FASTER & CHEAPER

We are living in a world that is being shaped by
exponential technologies, but the mindset,
approaches and institutional practices we use,Reframing Innovation in Higher Education Sector
continue to be linear ~ Salim Ismail
Define Disruption
“a new way to solve and
old problem”
Retail
“Never challenge an
incumbent with the
same business model”

The Transformation Journey
Step 1: Digitisation & Organisational Architecture
Step 2: Create Robust Customer Interfaces
Step 3: New Business Model
Digitisation & Organisational Architecture
• All about operating and optimising core processes
• Most Australian companies are trapped here
• Highly Reactive
“Its like changing the tyres on a moving car”
• This is a necessary foundation that organisations must establish
Digitisation & Organisational Architecture
Create Robust Customer Interfaces
Companies that don’t face imminent disruption invest heavily here
Airlines:
1. What problem do they solve?
2. Is there another way to solve this problem?
3. How do they compete?
Nokia & BlackBerry: Was it the Business Model that Failed?Reframing Innovation in Higher Education Sector
– Needed to experiment with new interfaces, but couldn’t give up those
damn buttons!
New Business Model
Companies that do face disruption must explore the idea of
fundamentally re-inventing the way they operate.
• Businesses make decisions based on data and it is impossible to have
any data on the future.
• A challenge for businesses is taking action with imperfect data.
• Blockbuster had a streaming service business ready to go … why
didn’t they do it? Reframing Innovation in Higher Education Sector
Woes Unite Foes
Organisations facing disruption often collaborate to survive i.e
sharing warehouse to cut distribution costs.. We are seeing a rise
in partnerships and M&A’s as a result of disruptive challenger
organisations
Airlines
Energy
Automotive
Your Task:
1. What customer problem is being solvedReframing Innovation in Higher Education Sector
2. What is there existing business model
3. Zoom Out: what will it look like in 10-20yrs
4. Zoom In: What is 1 thing they can do in the next 6-12 months to
move the needle in the right direction
5. Create and pitch a challenger with a different Business Model
Healthcare
Banking
Retail
Professional Services
Manufacturing
Education
2
1
3
4
5
Assignment
The Higher-Education industry and organisations operating within it find themselves on the brink of
disruption.
Catherine Friday, Partner, Oceania Education at EY, highligReframing Innovation in Higher Education Sector hted the ‘five transformative external forces’
driving change in higher education: The Rise of Continuous Learning, Changing World of Work, Evolving
Digital Behaviour, Blurring Industry Boundaries and Increasing International Competition.
Applying the principals covered today, I challenge you to:
a. Select an organisation within the Higher Education Sector
b. Analyse the existing market environment and forecast how exponential technologies and new market
circumstances threaten the existing business model of your organisation
c. Perform a Zoom Out analysis: Forecast with justification what the Higher Education industry might look
like in 10 – 20 years
d. Perform a Zoom In analysis: Suggest 2-3 initiatives your organisation should execute on in the next 6-12
months to begin the journey required
e. Re-Frame Innovation: Look beyond product or process changes – What institutional / Business Model
changes must be made for your organisations to compete effectively and thrive.
Please feel free to connect with me and stay in touch!Reframing Innovation in Higher Education Sector