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Using market-shaping strategies to transform markets & society – breakfast

Using market-shaping strategies to transform markets & society – breakfast
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By the University of Adelaide Business School & the University of Auckland Business School
Using market-shaping strategies to transform markets & society

Time and again, research hammers home one point: What makes or breaks strategy is whether managers “get” something so overarching it mostly escapes attention – the very nature of markets. Old theories and playbooks got away with simplifications and approximations. Today, firms need to consider markets as elaborate, evolving ecosystems – think biology, not machinery.

This subtle change in perspective allows firms to proactively adapt their operating environment to themselves – instead of reactively adapting themselves to the environment. And therein lies strategy’s new prize, which turns established strategy paradigms on their head. Mastering the art of influencing markets, often in collaboration with others, enables proactive market-shaping. Market-shaping strategies unleash value gains from greater market size, efficiency and profitability which dwarf the zero-sum wins eked out in market-share increments by traditional competitive strategy

Speakers

Suvi Nenonen

Suvi is a Professor of Strategic Marketing at University of Auckland Business School (New Zealand). Her research interests include markets and market-shaping, business model innovation, service innovation, and cocreation. Her research has been published in journals such as Journal of the Academy of Marketing Science, Industrial Marketing Management, European Journal of Marketing, Marketing Theory, British Journal of Management, and Management Decision. Suvi is an Associate Editor for Marketing Theory and a member of three further editorial boards.

Prior to entering academia full time, Suvi worked for more than ten years as a strategy consultant to major European companies in several industries such as financial services, manufacturing, healthcare, construction, utility, telecommunications, fast-moving consumer goods industries, and non-profit organizations. Suvi is passionate about building bridges over the academia-practice gap. Her managerial book Designing Markets: Are you Market Driven or Market Driving (with professor Kaj Storbacka) was awarded the prize for the best Finnish business book in 2009-2010. Their latest book, SMASH: Using Market Shaping to Design New Strategies for Innovation, Value Creation, and Growth, was one of the five finalists for the 2019 Best Book of the Year Award by European Academy of Management.

Kaj Storbacka

Kaj is Professor of Markets and Strategy at the University of Auckland Business School’s Graduate School of Management. His research focuses on market and business model innovation, market shaping strategies and solution business transformation.

Kaj has made a career out of working on the borderline between academic and applied research within marketing and strategic management. He has over 35 years’ experience as a strategy consultant to European and global companies in finance, media, travel, retail, utility, manufacturing and telecommunications.

He has a long background in executive education, running MBA and executive MBA courses in New Zealand, Finland, Singapore and China. He is a frequent speaker at internal seminars for major global corporations, and at leading management development institutions in Europe, Asia and the US.

His academic research has been published in journals such as Journal of the Academy of Marketing Science, Industrial Marketing Management, Journal of Business Research, European Journal of Marketing, and Marketing Theory. Kaj has also published 13 books, some of which have been translated into several languages.

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