impACTup! Basic Course Session 2 Slides PDF

Building Impact-Driven Ventures & Organizations Sebastian Schuon CDTM Lecturer & Alumnus Founder Investor Sebastian Schuon Founder First Investor impACTup!: Innovatio...

Building Impact-Driven Ventures & Organizations Sebastian Schuon CDTM Lecturer & Alumnus Founder Investor Sebastian Schuon Founder First Investor impACTup!: Innovation and Entrepreneurship for Better Futures How to Maximize Impact? impACTup!: Innovation and Entrepreneurship for Better Futures Customer-Centric & Mission-Based Framework impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Why = Customer 100 years Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework What = Company / Organization 10 years 3-12 months Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits The guiding principles how you work together. Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Target Audience We aim to solve problems for this specific group of individuals and adapt our value creation as well as our marketing strategy accordingly. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Examples Target Audience Definition Companies who build or own real estate assets (Alasco) Women 18-35 who aspire a fashionable and vibrant style, they love to shop whenever and wherever (Stylight) impACTup!: Innovation and Entrepreneurship for Better Futures Persona Your representative user. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Personas What it is Why Effective personas represent the most relevant Effective personas help to focus decisions in all demographics, characteristics, attributes and areas (marketing, communication, offering etc.) needs of our target audience Quick and inexpensive way to test and prioritize These representations should be based on new benefits we want to offer qualitative and some quantitative user research impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example for an Effective Persona – Stylight impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Coming Up With Personas Guiding Questions Demographics: Name, age, gender, nationality, where they live, picture How does their physical, social, and technological environment look like? What do they do in her free time? What motivates them? What keeps them awake at night? What are their 5 key traits / attributes? What type of products has the persona bought in the past? What media does the persona consume?... impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Problems & Benefits In order to solve problems for our target audience we define key benefits we want to offer to this specific group. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Functional & Emotional Benefits Functional Benefits Emotional Benefits Focuses on rational benefits for our personas Focuses on emotional benefits of our personas What do we offer our target audience from a Which feeling do we transport to our target factual point of view? audience? Answers the question “The organization helps Answers the question “The organization makes me to…” me feel…” impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Functional & Emotional Benefits: Example impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Functional & Emotional Benefits: Example impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Active Break Let’s write down yours! Create your target audience, persona, problems, as well as emotional and functional benefits for your university or an organization you are familiar with. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example CDTM impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example CDTM impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Core Purpose It is the reason we exist. This is how we want to contribute to the world and how we want to make our living. We will forever pursue this purpose, though it can never be fully achieved. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Core Purpose – The Reason We Exist Examples: Nike: To bring inspiration and innovation to every athlete in the world. Tesla: To accelerate the world’s transition to sustainable energy. Google: To provide access to the world’s information in one click. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Core Purpose – The Reason We Exist Examples: Alasco: We can leverage technology to accelerate the transition to a more sustainable future. Stylight: Make style happen. Personio: Enable better organizations. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Reflection Task Write a short essay reflecting on the following questions: Imagine a world where all organizations lived in alignment with their purpose. What would this world look like? How do you think it would impact individuals, communities, and society as a whole? Discuss both the potential benefits and challenges of such a scenario. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Strategic Mission How best to execute our core purpose (based on our abilities and market conditions) over the next 10 years. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Strategic Mission – How We Accomplish Our Purpose Examples: We create a world where capital flows towards the most sustainable investments in real estate (Alasco) Stylight helps aspiring women to evolve their style through the power of shoppable inspiration (Stylight) Personio empowers modern companies to recruit, retain and develop their people through software that increases HR process efficiency and data quality (Personio) Build the most popular car subscription platform (finn.auto) impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Strategic Mission – Guiding Questions FOR WHICH customers does the company want to play a role? WHAT is the main thing that the company wants to change in their life? WITH WHAT can the company make this change happen? impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Objective & Key Result (OKR) Core Purpose Goals based Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures BHAG Measuring the success of accomplishing our purpose: Our big, hairy audacious goal; it is an easily measurable representation of whether we are achieving our strategic mission. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations BHAG – Measuring the Success of Accomplishing Our Purpose Examples: Nasa (1960): To put a man on the surface of the Moon, and return him safely to the Earth (before the Russians do). Boeing (1950): Become the dominant player in commercial aircraft and bring the world into the jet age. Nike (1960): Crush Adidas. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations BHAG – Measuring the Success of Accomplishing Our Purpose Examples: By reducing 10m tons of CO2, we demonstrate the power of technology to drive meaningful change and inspire others to take action (Alasco) Personio is the leading HR Management and Recruiting solution for SMEs in Europe by 2020 (Personio) Put one million active users on the streets by 2030 (finn.auto) impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations BHAG – SMART Principles The acronym SMART has several slightly different variations, which can be used to provide a more comprehensive definition of goal setting: S - specific M - measurable A - agreed upon R - realistic T - time-based impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Active Break Let’s write down yours! Do come up with a core purpose, strategic mission, and BHAG for your university or an organization you are familiar with. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example CDTM impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example CDTM impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Example CDTM impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Mission based Core Purpose Goals Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Objectives & Key Results (OKRs) A framework how to set and track your goals. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Why Goals? Goals… … discipline our thinking and help to prioritize tasks / initiatives … let everyone know what is important … establish indicators for measuring progress … focus our efforts how to achieve our mission … motivate to put in maximum efforts impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Objectives & Key Results (OKRs) Objectives Key Results Ambitious Quantifiable Qualitative and inspirational Measurable Time-bound Make the objective achievable Actionable by the team Difficult, but not impossible impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Objectives and Key Results: Examples impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Success Factors for OKRs OKRs are not tied to your salary or pay raise OKRs are set bottom up OKRs are public OKRs are part of your daily and weekly routines OKRs are set at the end of every quarter for the next quarter There should be training for OKRs and goal setting Less is more Key results are output KPIs not tasks impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Guidelines and Tips for Setting OKRs In order to I will before. I know that I was successful when. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Active Break Watch how it all started! Listen to the first minutes of the original video where Google first explained their OKRs. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Mission based Core Purpose Goals Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Mission-Based Organization How to organize everyone in your organization. impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations What Drives People according to Dan Pink Purpose Autonomy Mastery impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Functional Organizational Structure Customer Marketing Purpose ⬇ Product Autonomy ⬇ Design Mastery ⬆ Development Sysadmin impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Mission-Based Organizational Structure Customer Marketing Marketing Marketing Purpose ⬆ Product Product Product Autonomy ⬆ Mastery ⬅ Design Design Design Development Development Development Sysadmin Sysadmin Sysadmin impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Mission-Based Organizational Structure impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Mission-Based Organizational Structure impACTup!: Innovation and Entrepreneurship for Better Futures Session: Building Impact-Driven Ventures & Organizations Customer-Centric & Mission-Based Framework Target Strategic Audience Mission Mission based Core Purpose Goals Organization Problems & BHAG Benefits Core Values impACTup!: Innovation and Entrepreneurship for Better Futures Thank You for Your Engagement! Sebastian Schuon CDTM Lecturer & Alumnus Founder Investor impACTup!: Innovation and Entrepreneurship for Better Futures