Generate new businesses and capacities in the face of a regulatory change in Colombia
Chambers of Commerce of Colombia
Client:
The challenge:
Work together among the five most important Chambers in the country to innovate in the generation of new business models that allow capturing value from a new vision.
The impact:
For the first time, the Colombian Chambers of Commerce worked together as a unified system. Eleven innovative business ideas were developed, of which four were prototyped, and out of which two were recommended to invest for implementation. 35 people were transformed throughout the process, who were trained to innovate with a common methodology and language, generating the start of a cultural transformation of the organisation and promoting internal talent.
The process:
In Colombia, the Chambers of Commerce are limited to a geographic jurisdiction and function as individual business units.The Chambers of Commerce detected that a change in the regulatory context that would take place in the medium term could threaten their current sources of income. This need led them to seek to start a process to learn to innovate, review their vision and position, and find new business models.In 2018, a Pentagrowth Workshop was held in Barranquilla, through which the strategic framework was defined and two areas of opportunity to work were identified.In August 2019, the Chambers decided to carry out the second Pentagrowth innovation cycle with the aim of developing the previously defined strategic framework and implementing a culture of innovation in the organisation.For 16 weeks, 35 participants grouped into four teams followed the Pentagrowth process for innovation in new business models that respond to opportunities within the strategic framework that was co-created by Chambers 2050.These teams were formed in an interdisciplinary way, with a wide diversity of profiles and with the representation of each of the Chambers in each team.90% of the process was carried out online through our collaboration tools and, in addition, a face-to-face workshop was held in Colombia.In the workshop, 50 participants, including team members, leaders and the Presidents of the five Chambers of Commerce, developed and presented 11 ideas. Four ideas were approved to advance in the prototype and testing phase.During the following weeks, the teams worked on the validation of the identified business models. The activities carried out with the support of the consulting team were: (i) the review of the business models of the winning ideas, (ii) the design of the minimum viable product (MVP), (iii) the development, launch and testing of the MVP, (iv) and a series of learnings and potential of the business model.As a result of the entire process carried out, the Chambers of Commerce created a joint innovation unit between them to work from a Cameral System vision. It should be highlighted that it was the first time that the Chambers managed to sit down to work together.Throughout the process, we also contributed to the transformation of 35 people who were trained to innovate with a common methodology and language, generating the start of a cultural transformation of the organisation and promoting internal talent. In total, eleven potential business model ideas were created, of which four were prototyped and tested, and it was recommended to invest in two and continue to explore opportunities in one.
