A Presentation on Innovation
- 1. www.innovationupgrade.com stefanlindegaard@me.com Twitter: @lindegaard Hey! Free books, white papers and exercises on innovationupgrade.com! A Presentation on Innovation
- 2. Author, speaker and strategic advisor on open innovation, innovation management / culture and the people side of innovation. Get in touch! www.innovationupgrade.com stefanlindegaard@me.com @lindegaard Stefan Lindegaard
- 3. Three global megatrends drive innovation today: Everything moves faster, everything will be connected and there will be a much higher degree of transparency with regards to knowledge.
- 4. Focus is shifting away from ideas as they are in abundance. Now, the front end of innovation is the easier part and the execution is what really matters. We have begun the transition phase.
- 5. Disruption hits much harder and much faster than ever before. You can’t plan for disruptive or radical innovation, but you can be sure you will be disrupted.
- 7. How do you understand innovation? What does it mean to you? What is the corporate understanding of innovation?
- 8. The language of innovation and how people understand the term is vague and fuzzy at best; dangerous at worst. This can cripple organizations.
- 9. Name three companies to envy for their perceived culture of innovation!
- 10. You can’t copy Apple, Google and 3M. Does it make sense to talk about innovation culture? Corporate transformation = Let’s stop talking about innovation and just execute!
- 11. Corporate transformation is key and new thoughts on innovation can help ignite this. However, corporate innovators must step up their game and be ambitious to play a role in this.
- 12. Strong organizations do four things very well: They listen, adapt, experiment and execute better than their competitors.
- 13. What is open innovation? “…a philosophy or a mindset that they should embrace within their organization. This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input” Open innovation as a term will disappear in 5-7 years!
- 14. 1. Common Language and Understanding, Motivation, Mandate and Strategic Purpose 2. Assets and Needs 3. Value Pools and Channels 4. Internal Readiness 5. External Readiness 6. New Skills and Mindset 7. Communications Strategy 7 Steps for Open Innovation
- 15. P&G PHARMAMEDTECH Cycle time, money, IPR, conservatism, government regulations and internal readiness
- 16. Employees SuppliersManagers Academics / institutions Executives VCsAlumni Startups Business unit / function Users / consumers Government Competitors Inventors
- 17. InnoCentive Alliances / joint ventures Campaigns (Comm / Public) Entrepreneur Day Consortia MyStarbucks Idea.com Campaigns (Comm / Public) Supplier Summit CREDIT: OVO Innovation
- 18. • the start-up value pool is sizzling hot • the big issue is how to scale up open innovation • tolerance for failure, experimentation and “smartfailing” are growing issues • companies are about to upgrade their innovation capabilities (some are in for a surprise) • Near future: From 1-1 to many-to-many Current (open) innovation trends
- 19. • the mini-bus: who sits where? • accelerators and incubators • challenges and competitions • corporate venture (now with an open innovation mix) How big companies innovate with SME’s and startups Big companies tap into the potential of small companies (execution more than ideas) and they want to become more like startups (get their corporate culture infected)
- 20. Speed of decision-making: Slow, bureaucratic meets rapid, lean = tensions! Attitude towards risk: Vested interest versus nothing to protect, everything to win! Differing definitions of innovation: Do we speak the same language? Following rules versus breaking rules: Real progress often requires you to break / bend rules
- 21. Entrepreneurship is do or die based on market necessity, opportunity and ingenuity. Innovation is about strategic choices. Different things = different approaches!
- 22. Innovation as a career choice What got you into the game 10 years ago is no longer enough! Engineers, pay attention!
- 23. Horizontal: disposition for collaboration across disciplines Vertical: depth of skill which allows to contribute Credit: Tim Brown / IDEO Only T-shapes: “Occasionally, we have people who don’t really have a depth of skills, and they really struggle. They don’t get respect from the group.” Only I-shapes: “…very hard for them to collaborate…each individual discipline represents its own point of view…becomes a negotiation…you get gray compromises… The results are never spectacular but at best average.”
- 24. 1) Holistic point of view (intrapreneurial skills) 2) Ability to constructively handle conflict 3) Optimism, passion and drive 4) Curiosity and belief in change 5) Tolerance for / ability to deal with uncertainty 6) Adaptive fast learner with sense of urgency 7) Talent for networking / strategic influencing 8) Communication skills
- 25. No networking culture? No innovation culture! - future winners get communities to work!
- 26. Networking efforts require purpose/direction, training, time and commitment/structure. Few executives get this.
- 27. • View communication in the broad sense – include networking and stakeholder management • Use a range of communication tools – too few innovators know about social media let alone communication in general • Develop a strategy for this Great innovators are great communicators!
- 28. How many of you are on LinkedIn? Why are you on LinkedIn? What about Twitter?
- 29. Identify 10 keywords / terms and work them on LinkedIn and Twitter. What happens?
- 30. Global megatrends drive innovation: faster, connected, transparent
- 31. PWC report: ”Two-thirds of the most innovative companies say innovation is a competitive necessity compared with 19% among the least innovative” – If you do not move forward, you move backwards. Today, innovation is a management discipline - not everyone gets it
- 32. You can’t have a strong innovation culture without a strong networking culture
- 33. What’s in it for me? The driver for change
- 34. Great innovators are great communicators! Will your company become the preferred partner of choice for innovation – or will your competitor? Communication today is also about your innovation capabilities.
- 35. Change your stage gate setup, use the “innovation refrigerator” and kill the zombies Timing is key reason for innovation failure – or success
- 36. Be aware of the “Slow / Quick Death” scenario Use open innovation as a vehicle for corporate transformation
- 37. People first, processes next, then ideas
- 38. • Reward behaviours, not outcomes • Educating executives is challenging, but critical • Timing is key reason for innovation failure – or success • Innovation has to go beyond products and technology; think business models, services, processes Other things to consider
- 39. - Tap into my knowledge and my global network - Work with our city ambassadors - Frequent webinars, Q&As and physical sessions around the world - Build a stronger brand for yourself and your company (use our platform) - Corporate innovators: Speak at global conferences www.innovationupgrade.com Innovation Upgrade - a training program and network on innovation