Two new videos have been added to the our YouTube channel ‘Business Innovator’. The Business Innovator channel is our new channel for sharing innovation approaches and our professional experience with a wide community of businesses, change agents and students. Our videos will be intentionally short – to provide interest and insights within ‘bite-sized’ chunks.
The first new video introduces business innovation as a ‘journey to value’ and explains how innovation mastery comes from the application of an holistic and systematic approach to innovation within a business. Watch video here.
The second video looks at innovating service design and delivery in Professional Service firms and identifies 5 key success factors, based on Codexx project experience. Watch video here.
We hope you find them useful – and we look forward to your comments.
Let us know areas you would like us to cover in future videos.
Alastair Ross’s new book Sowing the seeds of business transformationwas published on the 18th February and is available in paperback on Amazon. The book is aimed at change leaders who are seeking inspiration and guidance for transformation in their own businesses – in both industrial and knowledge intensive service sectors.
It is a practical guide, based on project work and detailed case studies and is suitable for transformation projects in a single service or process, a function or department, business unit or firm wide.
Sowing the seeds of business transformation examines key transformation-enabling tools and methods such as Value Analysis, Systematic Innovation, Lean, User-Experience, Re-engineering, Continuous Improvement, Business Model Innovation and Digitisation.
Multiple case studies are used to illustrate the use of these methods including businesses such as Nokia, IBM, Blackberry, Apple, Allianz, British Airways, Amazon, Nintendo, AXA and Ryanair. The book also provides proven frameworks and effective approaches to enable a programme of business transformation.
For more information on the book, to read sample pages or order copies, go toAmazon.
Codexx launch a new solution: Structured Service Development
Complex services for a more demanding world
Businesses providing complex or ‘knowledge intensive’ services – such as law firms, accountants, management consultants, R&D organisations and specialist advisors – are facing increasing business pressures. They need to design new services that meet ever increasing client demands in:
What is delivered – new functionality to meet new client requirements
The way it is delivered – making use of the internet as part of delivery
The form in which it is delivered – to fit clients’ own business processes
How well is it delivered – meeting explicit quality and regulatory requirements
The price of the service – more for less and increasingly at a fixed price
And the increasing level of competition (including new local and global rivals) mean that doing this profitably is often a challenge. The ‘old ways’ of developing services – informal and often ad hoc – that worked in the past will not be good enough in the future. Service businesses need to take a leaf out of the manufacturers’ cookbook for developing new products and create a new more structured and cohesive approach for developing complex services.
To help clients in developing new services in today’s challenging business environment, Codexx has launched a new solution: ‘Structured Service Development‘ which is based on our work in complex services over the past 15 years where we have developed or re-engineered more than 25 services in multiple sectors including: legal, financial, consulting, environmental and industrial. For more information on this service read the solution flyer: Designing complex services – new Codexx offering – May 2016.
If you would like to discuss how Codexx could support you in the development of new services, the re-engineering of existing services or in improving the management of service delivery, contact us.
Alastair Ross, Director of Codexx, spoke at the Chartered Institute of Marketing’s Levitt Group on Friday 12th June 2015 at their ‘5 Great Minds’ event held in Regent’s University in London for senior marketing professionals.
His presentation was entitled ‘Innovating Professional Services – transforming value and efficiency’. His session introduced the ‘Why?’, ‘What?’ and ‘How?’ of improving competitiveness through innovation in professional service firms. The event also introduced Alastair’s new book ‘Innovating professional services’. To see a copy of the event brochure, click.
Professional Service firms are facing major challenges in an increasingly global market. Whilst the professional services sector is diverse, consisting of accountants, lawyers, management consultants, architects, insurance providers and other businesses that provide services based on leveraging intellectual capital, they face many common challenges:
Deregulation of local markets enabling the entry of new competitors
Clients are demanding ‘more for less’
New competitors based on internet-enabled business models
Competitors exploiting methods such as Lean to improve their cost competitiveness
How best to serve a global market – and to respond to global competitors
How do firms respond to these challenges? One key approach is in utilising innovation to improve competitiveness. Progressive firms are seeking to increase the value they provide to clients – through new and enhanced services and improved service experience for example. They are also seeking to improve their efficiency of doing business – and thus improve their price competitiveness.
Alastair Ross, Director of Codexx, has utilised Codexx experience gained over the last decade in consulting to professional service firms in innovation and re-engineering to write a practical guide to change agents in professional service firms seeking to exploit innovation within their organisation.
The book provides a detailed introduction into key innovation and re-engineering techniques, such a client value profiling, process mapping, waste elimination and change management. There is a strong pragmatic approach to dealing with the typical challenges encountered in driving major service innovation and culture change. The book features extensive case studies in legal, insurance, financial and business services.
‘Innovating Professional Services: Transforming Value and Efficiency’ by Alastair Ross was published by Gower on 8th May 2015.
Working with our design partner, Realise Design, we’ve just updated our Codexx brand logo.
New Codexx logo elements:
The removal of the circular ‘improvement arrow’ of the old logo and the use of a leaner and modern font echoes our progressive focus on streamlining working methods using best practices and Lean thinking.
We’ve linked the Codexx X’s to model a DNA strand to symbolise our core competency of business innovation – helping our clients innovate the value they provide to customers and their ways of working.
We’ve retained our tagline – ‘energizing change’ – that has been with us since we started up in 2002, because it still captures the essence of what we do, in just two words. Assessing, catalysing, provoking, inspiring, focusing, directing, mentoring, supporting and evaluating are other key descriptors in how we help our clients (but we’d never get that past the brand police….).
Today Codexx published the final report on a study of innovation in 35 UK and German law firms, carried out in 2013 with the support of the University of Exeter Business School and the University of Leipzig Graduate School of Management. The objective of the study was to understand the current level of innovation, the methods being applied, the results achieved and the challenges faced by law firms in these two countries. Participating firms have already received a copy of the report, including their scoring in the study, to help in their innovation activities.
Alastair Ross, Codexx Director and author of the report said “Innovation is increasingly important for law firms, particularly those in the UK faced with new ABS entrants from deregulation, new internet-based business models and price-focused clients. It is very encouraging to see progressive firms seizing the opportunities for improved competitiveness through innovation. It is also useful to understand the typical difficulties that firms are facing in their innovation activities. This will help firms in developing their innovation capabilities and assist Codexx in providing best guidance to our legal clients.”
Report highlights:
35 law firms in the UK and Germany were surveyed for their innovation methods and results during 2013.
Innovation was defined as anything new to the firm that generates value.
Overall UK and German firms, scored similarly – at a middle to low level compared to best practices.
UK firms focused their innovation mainly on process improvement and German firms on services.
The study showed that improved innovation practices resulted in better business performance.
Firms’ key challenges in improving their innovation were in resourcing, culture and leadership.
Executive summary:
A study of innovation practices and performance in law firms in the UK and Germany was performed during 2013, led by Codexx in partnership with the University of Exeter Business School and the University of Leipzig Graduate School of Management. The study involved a total of 35 firms, 14 in the UK and 21 in Germany. Firms participating from the UK were typically larger than those from Germany with a median yearly revenue of £70m compared to £17m.
We defined innovation as anything that was new to a firm and brought value – this broad definition covered incremental as well as ‘step-change’ innovation.
This study followed a previous one run by Codexx in 2006 with 16 UK law firms. The objective of the 2013 survey was to perform a more in-depth study of UK firms’ approach to innovation, particularly since the 2008 economic downturn and the legal services deregulation. The opportunity to perform a similar study with German firms and contrast approaches and outcomes brought additional value.
The study found an overall similar level of innovation practices and performance in the participating UK and German firms, which was typically at a middle to low level, compared to best practices. Whilst UK firms had their main focus on process innovation, German firms’ focus was on service innovation. The difference, we believe, results from the impact of the legal services deregulation and the post 2008 economic challenges in the UK, with firms giving increased focus to efficiency.
The study also found a good level of correlation between innovation practices and performance – showing that if these practices were put in place, it was likely that improved performance in key metrics such as revenue from new services and cost reduction from process innovation, would follow.
Analysis of those firms who were leading in innovation performance, showed that UK performance leaders had an average level of practices ahead of the study sample in every practice area, though this was not the case for German leaders (this might indicate some practice inconsistencies in the generally smaller German firms). This finding gives support to the recommended comprehensive approach to innovation, establishing a system to cover the the key practices.
Firms identified their key innovation challenges as in resourcing innovation, establishing a supportive culture and process and in leadership. Improving innovation resources and process were cited as common improvement priorities for firms.
The report defined five guiding principles for law firms seeking to improve their innovation capabilities, based on Codexx experience in working with law firms in innovation since 2005.
For more information on the study or to request a copy of the report, contact Alastair Ross at Codexx.
Alastair Ross, Director of Codexx, has been invited to lecture on service innovation at the Management School of the University of Southampton. His lectures will be in support of the MSc in Strategy & Innovation. The masters programme aims to respond to those interested in strategic thinking and the challenges of developing new products and services. Alastair’s initial series of lectures will be in October 2014.
Alastair Ross said, “I’m pleased to be able to work with the University in this way and hopefully to bring some of my experience from Codexx in helping businesses in service innovation. And it’s nice to go back to the University at the other end of the lecture theatre – I did my first degree there more than a few years ago!”
For more information on the Masters programme in Strategy & Innovation, click here.
Codexx Associates Ltd and PROBE Network LLP agree to develop new innovation benchmarking product
Monday 22nd April 2013
Codexx Associates Ltd and Probe Network LLP today announced their agreement for the development of a new best practice benchmarking solution for business innovation. PROBE for Innovation Excellence will be based on the ‘Foundations for Innovation’ (F4i) assessment solution developed by Codexx and used in a number of business sectors including manufacturing, insurance and professional services.
The development of PROBE for Innovation Excellence is being supported by IEL Santa Catarina, Brazil (Euvaldo Lodi Institute of Santa Catarina).The first version will be available during the summer of 2013. Codexx and PROBE have had a long standing relationship since 2002 as Codexx has been a user of PROBE’s benchmarking tools in its consulting work.
Announcing the agreement, Alastair Ross, Director of Codexx, said “I am delighted to be working with PROBE on this exciting new product. PROBE’s expertise and global market reach in benchmarking will maximise the value of our investment in F4i.” Jeff Taylor, Senior Partner of PROBE Network LLP said “Innovation is a key driver of business success, so we are delighted to be working with Codexx on the development of a new PROBE tool that will spur innovation and act as a catalyst for overall business excellence.”
For further information contact Codexx at www.codexx.com.
How can law firms respond to increasingly tough business environment, deregulation and the march of internet-enabled business models?
We advocate the application of ‘Smarter Working’ – an approach that embraces re-engineering and innovation to address both value and cost. Codexx has been applying Smarter Working methods with major UK law firms since 2005.
To help change leaders understand this we have just produced this short video ‘Smarter Working – helping law firms find their mojo’:
Two new videos have been added to the our YouTube channel ‘Business Innovator’. The Business Innovator channel is our new channel for sharing innovation approaches and our professional experience with a wide community of businesses, change agents and students. Our videos will be intentionally short – to provide interest and insights within ‘bite-sized’ chunks.
