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Janishia at Otsuka, the Japanese pharmaceutical and nutrition company, asked Matthew to host a workshop with the group's CEOs and senior leadership team, and to present on the future of their industries and the industries around them.
The session ranged from the future of leadership in a disruptive world to the future of Otsuka's own products, with tangible examples of how the company could expand into new markets outside its core business units.
"Think about product development in terms of the digital, physical, and virtual attributes a product has or could have, something that far too few organisations are thinking about."Matthew Griffin, Japan, June 2022
It began with the Metaverse, at the leadership team's request: the what, the why and the how, and the opportunities for brands like theirs. Much of the discussion centred on Pocari Sweat, Japan's equivalent of Gatorade, which holds a market share of over 40% against its American counterpart. Matthew pushed the team to think about product development in terms of the digital, physical and virtual attributes a product has, or could have, something he believes far too few organisations do.
He then turned to new manufacturing and R&D technologies, and to what happens when wearables, 3D printing and Quantified Self data combine to personalise products such as food. One example was Sushi Singularity, which uses biological and biometric data to 3D print sushi whose nutritional profile matches the needs of the person eating it.
He finished with autonomous, mobile shops and the ultimate sin of giving products away for free, then showed how that model could still make more money if consumers mined crypto for the company in return. As he put it, when it comes to the future, everything is on the table.
311 Intelligence
What this means for your leadership team
Think in three product attributes.
Matthew asked Otsuka's leaders to describe a product by its digital, physical and virtual attributes. He believes far too few organisations do this. The PhyDigital Products trend points the same way, as brands pair physical goods with digital twins and smart tags. It has a wide-use date of 2031.
Personal data will shape products.
Wearables, 3D printing and Quantified Self data can combine to personalise products such as food. Sushi Singularity shows the idea in practice. Quantified Self is rated Act now with a wide-use date of 2020, while 3D printing is rated Watch with wide use in 2036.
Leaders must test new revenue models.
The session ended with autonomous, mobile shops and free products paid for by consumers mining crypto. Few teams would test such a model. Adaptive leadership, rated Prepare for 2028, means learning and adjusting rather than command and control. The Metaverse, rated Explore for 2035, was where this session began.
Three questions for your next leadership meeting
Which digital, physical and virtual attributes could our products gain?
What would our customers' personal health data let us make differently?
Which long-held rule about pricing are we willing to test?
The trends and technologies behind this session
From the 311 Starburst, the 311 Strategic Intelligence Unit’s map of the technologies and trends shaping the next 50 years.
What does the Otsuka session mean for organisations?
It suggests that firms in pharma, nutrition and beyond should look outside their core business units. Matthew gave Otsuka tangible examples of new markets and asked its leaders to treat everything as on the table.
How do PhyDigital Products relate to this session?
The session urged leaders to think about the digital, physical and virtual attributes of a product. The PhyDigital Products trend is the market version of that idea. Brands pair physical goods with digital twins and smart tags to add value and prove origin.
How does Quantified Self relate to this session?
Quantified Self data was one input to personalised products such as food. Smart rings, watches and sensors turn personal health tracking into continuous monitoring. That gives a company the data it needs to match a product to one person.
How can 311 brief our leadership team on this?
311 offers a private executive briefing or leadership workshop, tailored to your sector. It is held in person first.
Bring this to your leadership teamA private executive briefing or leadership workshop, tailored to your sector. In person first, anywhere in the world.
Analysis by the 311 Strategic Intelligence Unit, from Matthew Griffin’s session and 311 data.
If Matthew gave this session today
Grow at the speed of change.
How to Build Exponential Enterprises re-invents innovation for the exponential era. It picks up where this workshop left off, on how an established pharma and nutrition group can move into new markets beyond its core.
