Reflections from #wif10 World Innovation Forum

Anyone read the book The Soul of a Chef by Michael Ruhlman? It's  an anthropological study of the culture of cooking; the journey top chefs travel on their way to greatness. I couldn't help but be reminded of this emotional and often gut-wrenching account of purpose-driven people yesterday at the World Innovation Forum in NYC because if there were one natural theme that tied all the speakers together, it's this: Corporations large and small are on their own soul-searching journey. Battered by recession, scandal, insane competition, shrinking business models, consumer rebellions and fears of impending environmental disasters, organizations seem emboldened to find their humanity. Even renowned business strategist Michael Porter (@michaeleporter), known for his strategic, analytic thinking appeared almost melancholy as he reflected on the loss of purpose in today's business world.

So how can corporations reconnect to their employees, customers and the world at large? Here are two ideas that came out of yesterday's forum:

FIRST, FIND YOUR PURPOSE: Michael Porter (who has a new book out called Redefining Healthcare, check out the slides from his talk here) offered a sort of philosophical call to arms as he hammered home the need for a renewed sense of clarity around the fundamental purpose of a company. This is where Wall Street lost its way he said. They forgot (or perhaps dismissed) their original purpose which was to feed the real economy made up of consumers like you and me. Instead, they ended up "just feeding and serving themselves," he said.

Lessons learned? Every organization must have a sense of purpose that enables investment of the creation of value. For too long, Porter says, we've defined the role of the corporation too narrowly by thinking that environmental issues, poverty, health and nutrition are not part of a corporation's value equation. "The more we learn, the more we know that a company can't succeed unless it's efficient in its use of resources - financial, environmental, people, etc." he said. "Capitalists need to do good. It's an issue of drawing boundaries and widening the understanding of value. That's the real area for innovation."

So as a company, what should you be doing differently? Porter says to rethink everything from raw materials to energy use to employee retention and development programs. "Broaden your understanding of capitalism," he said because "productivity is decided as much inside your company as it is outside - from your suppliers to your schools to your healthcare providers." Questions to ask yourself right now - what ideas and what ideals are you fighting for on behalf of your employees, your communities, your customers?

Key quotes:
"Wall Street turned on itself and lost site of its purpose and value for its ultimate customer - people borrowing money to start a business." Michael Porter
"Why do you get a paycheck? You get a paycheck to exercise your judgment." Michael Howe, CEO Minute  Clinic
"Find the bright spot - focus on what you're doing really well and do it even better." author Chip Heath
"What does it mean to be an innovation leader? I think my job is to walk in stuipid every morning. To come in with fresh eyes and no assumptions. To invest and cultivate the inexperience curve." Polly LaBarre recounting a conversation she had with Dan Weiden of Weiden +Kennedy
 

ORGANIZATIONAL INNOVATION IS WHERE IT'S AT: It's interesting that within the context of a world innovation forum, we didn't get much in the way of technological, scientific or breakthrough ideas. Instead, the focus was on organizatonal innovation which is exactly what Minute Clinic represents. The company's business model resides at the intersection of retail and healthcare, applying retail service principles with a focus on simplicity, consistency, functionality and confidence. The company enjoyed explosive growth in three short years growing from 19 clnics in 2 states to 530 clinics in 27 states. Michael Howe, the company's CEO perhaps said it best: "Minute Clinic took it upon themselves to deeply understand the millenials and gen-x'ers. We then designed on a narrow set of services - things that ruined your weekend." The company created a system for access in places their target can easily get to; they staffed for delivery and they built trust and confidence in a customer base eager for the service they offered. 

Key quotes:
"Leaders do not lead innovation, they facilitate it." Michael Howe, CEO Minute Clinic
"Culture isn't in the corner office. Everyone can create culture in their own part of the world by encouraging, helping people understand their gift and serving the customer." Michael Howel, CEO Minute Clinic
"We're made up of many small entreprenurial research organizations. Each with its own culture and chief innovation officer. We live for failure." Jeff Kindler, CEO Pfizer   

In a value equation, everybody has to win. The networks that support each business are just as important as the products and services themselves. Network builders think empathetically – they understand the needs of each of their partners.  Ultimately, if everybody within a network isn't deriving value, than eventually, nobody will. And this, it seems, is where many corporations have lost their way. Can the ideas listed above be considered innovative? Hardly. Yet maybe that's the point of this year's World Innovation Forum. After an economic age of elaboration and excess, we’ve been functionally surviving for the last couple of years. Listening to the "do good" aspirations of several though-leading corporate execs, perhaps another epoch of business excellence is upon us. I certainly left the forum feeling inspired and hopeful.

My sincere thanks to all the great folks at HSM who put together another fabulous event. And to Pitney Bowes for hosting the blogger's hub and pizza lunch. Without you I would never have been given the serendipitous gift of lunch with my favorite Italian chef and author Lidia Bastianich.

P.S. A quick digression into conference planning. Onstage interviews are really hard. The best ones reflect a knowledge of the audience as much as a knowledge of the interviewee. So my dear Bloomberg, next time know your audience. The generalist approach you take with television doesn't work in other venues. We were a room full of really smart innovators who wanted a deep dive into the practice, discipline, process and creative approaches to innovation that successful companies undertake. Asking the question: "please define innovation" or "what does innovation mean to you?" is like asking a kindergartner to pick out a circle in a sea of rectangles. It's just boring and devalues the opportunity at hand.

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An incredible group of bloggers attended this year's forum. You can check out their summary recaps and unique points of view at the Pitney Bowes Blogger's Hub. Special props to my innovation friends and amazing live tweeters @andreameyer, @stu, @innosightteam, @bpluskowski, @innovate @ColetteCote and @pbconnect and new friends who made so many insightful tweets @frijolita, @jkhoey, @ramonray and @cdn.