After yet another blow to the free market ideology after a series of corporate bailouts in the wake of Covid-19, it has become painfully clear that we need to revise the foundations of our economy. Surprisingly enough we find inspiration for this by understanding the reasons behind the Formula 1 2021 budget caps and applying it as an analogy onto our search for an updated capitalist economy.
In pursuit of creating a more interesting sport for both teams and fans, Formula 1 has decided to introduce a budget cap of €145 million per team in 2021. It is believed that this will decouple team performance from team expenditure budgets, resulting in more exciting races, a renewed focus on team ingenuity and driver talent. …
Stop polishing ideas and start delivering innovation.
The challenge
Most of us in the innovation field know that in order te be an ambidextrous organization, we have to balance the exploitation of our current business-model while simultaneously exploring the potential of new models and markets.
Generally we do this by categorizing ideas for innovation for Horizon 1, 2 or 3. Concepts that are regarded as Horizon 1 are incremental in change needed to create. The knowledge is already in-house and the business-case is clear. On the other hand of the spectrum we have Horizon 3 ideas that have no clear business-case and for which external knowledge needed. …
Mini-series: How to increase your competitive advantage, cut costs and create added value through the use of AI.
Over the course of the past years Artificial Intelligence (AI) has regained interest in the broader public and more specifically the interest of businesses. Most people associate AI with Killer Robots from the future or sneaky algorithms from Facebook trying to keep you scrolling and liking. But this is not what Artificial Intelligence is about and not where its value lies for Business.
What we aim to do in this mini-series about AI is to help you understand what the business relevance is for AI. We will talk about the elements involved, educate you to spot opportunities in your organization to apply AI in order to create value and overcome the trivial fears of AI taking over job or society as whole. …
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