TRANSFORMATION TO EVOLUTION IN 10 STEPS Milan S. Lakhani Head of Strategy & Business Development 16 th May 2018, Madrid
Thinking about Konica Minolta 22018 Konica Minolta, Inc.
Thinking about Konica Minolta
Who knows this image? Who knows this guy?
Konica Minolta Trivia #1 First official photo taken with selfie stick
Konica Minolta Trivia #2 Hiroshi Ueda Minolta engineer, filed a patent for selfie stick 1983
Rate of Change The 4 th Industrial Revolution We are here Time Source: Tom Friedman, Thank You For Being Late
A history of innovation 2003 1870 1873 Rokusaburo Sugiura sets up Konica Corporation 1900 1928 Tashima set up Nichi-Doku Shashinki Shoten (later known as Minolta Co.) 1960 1962 The first pictures of earth taken from space with a Minolta Hi-Matic (during John Glenn s Friendship 7 space flight) 1975 Released the world s first 35mm camera with built-in flash and AE functions C35EF 1984 Konica and Minolta merge to form Konica Minolta Developed an ultra-high-precision aspheric plastic lens 2000 for CD players 2005 Released the world s first Mammography to use phase contrast technology 2007 Left the photo and camera business 2010 2011 Released wireless DR system AeroDR to meet the demandsof an increased digitization in the healthcare sector and reduce the amount of x-ray radiation to patients 2016 Released B2+ UV inkjet press AccurioJet KM-1 2017 Launch of Workplace Hub Portfolio 1903 Created Cherry Hand Camera, Japan s first brand name camera 1960 Completed the company s first copier Minolta Copymaster 1970 1977 The world s first finger-measurement type pulse oximeter 1980 1990 1992 Became the first company worldwide to receive a Blue Angel mark in the field of copying 2002 Developed Simitri the world s first polymerized toner with biomass. Along with economical production reduces CO2 and NOx emissions by up to 40% 2010 Released the digital printing system bizhub PRESS 2012 2014 Launched the first Business Innovation Centre (BIC) in London Opened the Konica Minolta Planetarium Tenku, Japan s second most popular planetarium 2015 Launched the first Konica Minolta Labs Europe in London and Brno KMLE
The need for (digital) transformation Vision A digital company with insight into implicit challenges TRANSFORM CUSTOMERS BUSINESS BETTERMENT OF SOCIETY DEVELOP FUTURE PORTFOLIO TRANFORM OUR CORPORATE CULTURE COMPLIMENT PHYSICAL TO DIGITAL CREATION OF NEW VALUE
What is digital transformation? Disruptive radical reinvention of the existing business a metamorphosis into something new Transformative involves new digital business models Transformation Incremental involves digitization of existing processes and customer experience
Digital transformation the myths Digital transformation is about becoming an online business Digital transformation as a single initiative Digital transformation has a finish line
Finding the next S-Curve Revenue New growth strategy Innovation opportunity Original strategy Time
Business Innovation Centres driven by customer intimacy & open innovation North America Europe Asia Pacific China Japan
Transformation is driven from the top Vision A digital company with insight into implicit challenges Business technologies Healthcare BUSINESS UNITS Performance materials Optical systems for industrial use TRANSFORM Medical Care Nursing Care 2 million customer base Manufacturing Marketing Services ONE KONICA MINOLTA Retail sales Distribution Professional Printing Office Mobile objects A company that continues to create new value to SHINKA (evolve) business and human societies Business system by product Go-to-Market system
Organisational ambidexterity Exploration Exploitation
Growth platforms Konica Minolta is developing new services, technologies and products to assist customers in improving and innovating their business by utilizing ICT in the demonstrated areas WORKPLACE OF THE FUTURE How do we collaborate? Way of working in three, five, ten years? AUGMENTED VISION Making the invisible, visible WEARABLE DEVICES Smart data (Internet of Things, Industry 4.0, ), Next level- Computing, Data analysis INNOVATION SERVICES Targeted workshops, business value, talent management, client centric innovation INDUSTRY SOLUTIONS & OFFERINGS Hardware, Software, Services
Innovation client hierarchy of need For client For Konica Minolta With client Enabling cilent 1. Proactively deliver Innovation focusing on Business Outcomes 2. Strategically work with client to Co-Innovate 3. Empower Client to Innovate
Transformation needs cultural change The best strategy in the world is doomed to fail unless leaders create an environment and shape the culture in which it can succeed.
Intrapreneurship 2018: Technology Innovation Programme 20 2018 Konica Minolta, Inc.
Attracting new talent: VR meets HR
Attracting new talent: AR/VR meets HR
Strategic models for successful partnership Open Innovation Network e.g. Customers, universities, start-ups, government Thought Leader Resource Network e.g. Other companies, consulting firms, think tanks Also consider measures for creating an effective partnership Give and take in relationship with partners: Win Win
Thought leadership
Step 1: Foster (open) innovation and entrepreneurialism
Step 2: Two facets of digitization
Step 3: Board and CEO ownership
Step 4: Cultural change is critical
Step 5: Business strategy drives digitization, not technology
Step 6: Collaborate and listen
Step 7: Define new business models
Step 8: Imagination in talent acquisition
Step 9: Strategic alliances and partnerships
Step 10: Innovative skills development
Closing quotation When Digital Transformation is done right, it s like a caterpillar turning into a butterfly but when done wrong, all you have is a really fast caterpillar. George Westerman Principal Research Scientist, Digital Economy MIT s Sloan Center for Digital Business
Contact: Email: milan.lakhani@konicaminolta.eu LinkedIn: milan-s-lakhani