Webinar with Peter Lorange

A brief summary of the webinar on the 9 September

We had the pleasure of listening to Peter Lorange on first week of September. Peter spoke about organizing, managing and a strategically leading Shipping innovations. His books are on sale, which we recommend to read, but here’s a short “key takeaways” summary of the topic. 

Innovations shall be categorized and portfolios managed by types:  

  1.  Maintenance innovations – being smart 
  2. Technical innovations – Efficiency enhancing & security 
  3. Disruptive innovations – New, radical, market changing 
  4. Strategic innovations – KPI’s, calculated risks 

  • Be STRATEGIC – Focus on one industry, one only, but be diversified!  
  • Be FOCUSED – What is the key data in my industry and segment. Data mind!  
  • Think PORTFOLIOS – Insights pay off -> Narrow on ship type, broad on trade and market 
  • Understand ANALYTICS & CYCLES – Fredriksen, Wong (Seaspan) 
  • LEVERAGE only if you have long-term contracts 

In shipping most often winners are those who bundle innovations from many categories. Sometimes combining small innovations into a bundle can become disruptive innovations. 

Summary: Recipe for becoming successful 

  • Teams – avoid silos 
  • Networks – Flat, agile & adoptive organisations 
  • Self-steering -  active, focus and goal oriented
  • Crisis can be a change driver!
  • Focus - Avoid flock thinking (fresh analytical questioning)  
  • Portfolio thinking – Correlation between markets