INTROSPECTIVE
Prospective gives you a different perspective of your future business. Introspective gives you a different perspective of your present business.
THE CONTEXT
Along the course of its life and the performance of its “business-as-usual” activities, an organisation will acquire, use and dispose of assets; tangible and intangible. Along the way, it will forget some assets and underutilize some others; in its business of getting the “jobs-to-be-done” done, it will solve problem and often innovate to do so, but not see the innovation as a new asset to develop. Here comes a moment of “introspective”.
THE SOLUTION
A business model is basically how we allocate or assign assets to create, sustain and grow value, income and profits; it looks very much like the modern theory of portfolio (when you have been involved in a little bit of wealth management activities) that suggests asset classes allocation depending on the objective sought. Introspective, our own proprietary solution; helps organization take inventory of all of its assets, all of them whether they are tangible, intangible, measured and unmeasured (intangibles), owned or not (as in your supplier”s assets), seen or not in order to explore if different assets allocation are possibly more beneficial or in other words if the current business model can be improved or changed with an augmented view of the available assets.
THE BENEFITS
Performing an introspective analysis helps an organization see unsuspected/hidden assets like small innovations that can create new businesses; unsuspected/hidden capabilities that could spur innovations and would end up being necessary for its preferred future or/and Identify unsuspected/hidden competitive advantage that could be put to work; taking into consideration that this improved or new business model would improve the organization’s overall performance.
SAME PROCESS, DIFFERENT USE
Our Introspective method follows the same process as used in Prospective namely : 1. Gathering and analyzing intelligence (like the Prospective step); 2. Use it in strategy making (Strategy step); 3. Integrate the strategy (Integration step) and 4. Monitor for changes (Vigilance step).
To Your Success !