How to Grow New: Reframing GE FastWorks & How to Engage 250k people, Viv Goldstein, General Electric

In this opening presentation, Viv Goldstein, director of Innovation Acceleration and co-founder of FastWorks at GE, pulls back the curtain on how she and her team led a 124-year-old company through a revolutionary culture change.

1. INSIDE GE: FastWorks November 2016 Confidential. Not to be copied, distributed, or reproduced without prior approval. ©2016GeneralElectricCompany Lean Startup 2016

2. WE ARE GE We are the world’s premier digital industrial company. We transform industry by connecting people, data and machines. Living in perpetual motion, we are sensing, predicting and responding to make the world work better. 2 Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

3. Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

4. …GE worked with Snapchat as they covered the best of the expedition. Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

5. WE ALL FACE NEW CHALLENGES Volatile, uncertain, complex, & ambiguous ( vuca ) world. New business models are emerging. Technology & market changes are increasingly disruptive. Need to be simpler & faster. TO STAY COMPETITIVE, WE NEED TO THINK & BEHAVE IN A DIFFERENT WAY 5 Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

6. FastWorks Entrepreneurial, curious, & collaborative mindset  Smarter, simpler, customer-need driven Increased speed to learning Customer-validated decisions   iterate or stop Seed funding model, test & learn Combining the speed and agility OF A STARTUP with the scale and resources OF GE Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

7. OUR JOURNEY FastWorks 1.0: Framework for NPI & Process Improvement FastWorks 2.0: Resource / funding allocation FastWorks 3.0: Executed broad cultural change FastWorks 4.0: Growth Mindset 2012/3 2014 2015 2016 Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

8. FastWorks 1.0: Framework Opportunities/ true customer need Retires risk early Rapid experimentation Smarter questions & increased collaboration Lean Startup 2016 ©2016GeneralElectricCompany ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

9. FastWorks 2.0: Installed Growth Boards Optimize funding & resource allocation Large volume of small bets Commercialization & business model innovation Customer obsession Portfolio driven approach Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

10. FastWorks 3.0: Culture Change GE Beliefs E xpectations B ehaviors FastWorks Mindset Mechanics Performance Development A ccountability BETTER CUSTOMER OUTCOMES, FASTER Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval. ©2016GeneralElectricCompany

11. FastWorks 4.0: New Mindset & Behaviors 11 CULTURE LEADERSHIP WORK The Challenge of New Growth Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

12. 12 New Growth Mindset BE AN OPERATOR & VC END SUCCESS THEATRE END THE ADDICTION TO BEING RIGHT NET NEW LEARNING…EXPIRE DATA FROM TAM TO TAN/TAP THINK OUTSIDE IN CUSTOMER = ULTIMATE TRUTH EMBRACE RISK / PRODUCTIVE FAILURE Lean Startup 2016 Confidential. Not to be copied, distributed, or reproduced without prior approval. ©2016GeneralElectricCompany

13. FastWorks : Approach to Scale Partner & Discover Execute & Learn Teach & Coach Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

14. CASE STUDY: Sustainable Healthcare Solutions What’s Different? Lean Startup 2016 ©2016GeneralElectricCompany +80% Revenue in 3 YRS Confidential. Not to be copied, distributed, or reproduced without prior approval.

15. TRADITIONAL APPROACH Existing sophisticated product Product enhancements Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

16. Instead of starting with this…. NEW APPROACH Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

17. A blank sheet of paper & set of questions Customer Discovery & Validation Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

18. And we came up with this… Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval.

19. Lean Startup 2016 Confidential. Not to be copied, distributed, or reproduced without prior approval. ©2016GeneralElectricCompany

20. FUSE Lean Startup 2016 ©2016GeneralElectricCompany Confidential. Not to be copied, distributed, or reproduced without prior approval. MANUFACTURING. CROWD-POWERED.

21. Lean Startup 2016 Confidential. Not to be copied, distributed, or reproduced without prior approval. ©2016GeneralElectricCompany