Moving from Uncertainty Towards Measurable Risk
Risk: the probability that an outcome will occur.
Uncertainty: the inability to make predictions due to the lack or discontinuity of data.
All enterprise starts on the left of the continuum, with an untested, uncertain idea. For many creative individuals, these ideas arise at the nexus of personal experience, professional orientation and existing practices and structure. Here short feedback loop, rapid iteration and fast evolution are the modes of operation. Working through The Machine provides rapid modeling with the least amount of commitment. Modeling leads to prototyping, prototyping leads to testing, testing leads to refinement and minimum viable product (MVP), MVP leads to scalable offerings, scalable offerings are committed to and launched.
Progress from uncertainty towards risk is exploratory and produces data that can then be used to generate predictions. This is the flow of the innovation cycle that we support and brings the creative process into enterprise development. The Machine provides a guided process for whole enterprise exploration and creation.
A Portfolio Approach
In the creative business environment, every enterprise needs to be in a state of constant co-creation, evolution and self-renewal. This requires the continual development of new enterprise, with the increasing levels of commitment they require as they prove themselves viable.
Simultaneously, the readiness for reduced commitment and potential detachment from established enterprise as the ecosystems in which it performs change needs to be sustained. Commitment and detachment must be continually monitored and kept in balance. We picture this concept as a portfolio of enterprise activity, some with known or knowable outcomes (risk) and others with less known or unknowable outcomes (uncertainty). Because their outcomes are more certain, the predictable, risk-based projects exert a stabilizing influence on the entire portfolio, enabling greater originality on the creative side. The projects on the uncertain side add learning and energy, increasing the[LS1] generative activity in the entire system. When those endeavors are highly original, they add valuable knowledge about the enterprise and its ecosystem, increasing preparedness for uncertainty and thus also exerting a stabilizing influence on the entire system. The Machine provides a structured method of evolving enterprise. Start with uncertainty on the left of the continuum and, through iterations, evolve into data driven, risk-based modeling.
When we talk about creativity, we are talking about the generative activity that moves an idea through prototyping and into implementation. Progress from uncertainty towards risk is exploratory and produces data that can then be used to generate predictions. This is the general flow for design thinking and brings the creative process into business. Artists have been playing in this oppositional space for over a century. We believe that creatives should be making businesses in the same way we make things and experiences. The Machine provides a guided process for whole enterprise exploration and creation.