The Three Box Solution
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The future it’s about what you need to do today to create the future
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Vijay Govindarajan, known as VG, is widely regarded as one of the world’s leading experts on strategy and innovation. He is a New York Times and Wall Street Journal best selling author.
He the Coxe Distinguished Professor at Tuck School of Business at Dartmouth College and is a Faculty Partner in the Silicon Valley incubator Mach 49. He is an Executive Fellow at Harvard Business School.
He won the prestigious McKinsey Awards for best article published in Harvard Business Review with the articles “Engineering Reverse Innovations” and “Stop the Innovation Wars”. His HBR articles “How GE Is Disrupting Itself” and “The CEO’s Role in Business Model Reinvention” are HBR all-time top 50 bestsellers. In 2011, VG was named by Thinkers 50 as a Top 3 Management Thinker in the world and received the Breakthrough Innovation Award.
VG was inducted into Thinkers 50 Management Thinkers Hall of Fame and was given the Distinguished Achievement Award for most contributions to the understanding of innovation in 2019. VG is the only recipient of Distinguished Achievement Awards in two different categories from Thinkers 50.
VG has worked with CEOs and top management teams in over 40% of the Fortune 500 companies to discuss, challenge, and escalate their thinking about strategy. His clients include: Boeing, Coca- Cola, Colgate, Deere, FedEx, GE, Hewlett-Packard, IBM, J.P. Morgan Chase, J&J, New York Times, P&G, Sony, and Wal-Mart. Much in demand on the lecture circuit, he has been a keynote speaker in the BusinessWeek CEO Forum, HSM World Business Forum, TED and World Economic Forum at Davos.
VG received his doctorate from the Harvard Business School and was awarded the Robert Bowne Prize for the best thesis proposal. He also received his MBA with distinction from the Harvard Business School where he was included in the Dean’s Honor List. Prior to this, VG received his Chartered Accountancy degree in India where he was awarded the President’s Gold Medal for obtaining the first rank nationwide.
His most recent best seller is Three Box Solution: A strategy for leading innovation.
The Tree boxes solution
This presentation focuses on the importance of all the three boxes (Boxes 1, 2 & 3), where box 1 is about managing the present, box 2 is about selectively forgetting the past, and box 3 is about creating the future. For large companies, success becomes a trap because they tend to focus on box 1/present. Large companies are at an advantage because they have the resources and capabilities to create new business. With the right mindset, they can remain agile. Being flexible and agile means that they need to set up small teams within the large company - dedicated teams to work on box 3. Dedicated teams should have some separation from box 1 - the performance engine. This allows companies to create a Silicon Valley mindset within the large company body.
The Three Box Solution applies everywhere. Not just business, it applies to churches, universities, non-profits, countries/governments, and to personal life. The central idea in the 3 box solution is that the future is now. The future is not about what you need to do in the future; it’s about what you need to do today to create the future.
Innovation execution
This presentation focuses on executing Box 3 breakthrough innovation strategies.
Reverse innovation
VG delivers a thought provoking talk on 'Reverse Innovation,' a term he co-defined referring to innovation emerging from developing nations.
Historically, multinationals innovated in a rich country and sold those products in a poor country. Reserve Innovation is doing exactly the opposite. It is about innovating in a poor country and selling those products in a rich country. Reverse Innovation is a Box 3 strategy.
Delivering World-class Healthcare, Affordably
Several Indian hospital exemplars deliver high quality healthcare at ultra low cost, a Box 3 strategy. This presentation will focus on how these hospitals do it and the implications for the US healthcare system.
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