Why Open Innovation is Vital but Difficult

Why Open Innovation is Vital, But Difficult…and What to Do About It!

Dr Dave Richards22nd November 2016

+44 (0) 7733 812295dave@drdaveinnovation.comlinkedin.com/in/drdaverichardswww.facebook.com/drdaveinnovationtwitter: @drdaveinnov8ion

Innovation

..

..

.

.

.

.

.

.

.

..

.

.

.

..

.

.

..

..

.

.

.

.

..

..

..

..

..

..

..

..

..

.

.

.

.

..

.

..

..

.

.

..

Secret sauces & recipes for leading innovation

The MIT Innovation Lab

Good Idea

Developed

Implemented

Scaled to Potential

Success is elusive……………………

5%

10%

20%

Strategically Successful

…………and failure is costly!

“To double your success rate, double your failure rate!” Tom Watson, founder of IBM © Dr Dave Richards

Great Idea

Commercialized

1%

30%

40%

Low Innovation Success Rates

Organisational Change Initiatives

70% fail

30% succeed

STARTUPS:The majority fail within 5 years.

So, by now you should be really, really depressed!

+44 (0) 7733 812295dave@drdaveinnovation.comlinkedin.com/in/drdaverichardswww.facebook.com/drdaveinnovationtwitter: @drdaveinnov8ion

The Edge

If you’re not living, learning, leading and loving on the edge, you’re taking up too much space! from “The Seven Sins of Innovation” by Dr Dave Richards

time

focus

Ideas

© Dr Dave Richards

collaborations

marketresearchuser needs

assessment

benchmarking

customer/userengagement

creativity / ideation

lead user research

futures research

competitive analysis

1 + 1 + 1 = 111

time

© Dr Dave Richards

focus

“Only one man in a thousand is a leader of men. The other 999 follow women.”Groucho Marx

time

focus

Ideas

the innovation edge

© Dr Dave Richards

PotentialValue

Creation

The Innovation Zone

The Edge

Politeness is the slow poison of collaboration!Edwin Land

© Dr Dave Richards

Engagement of Diversity / ‘Swirl’

Developmental(and Educational)

Innovation

Service(as Delivery)Innovation

Service(as Product)Innovation

Business ModelInnovation

Process(Functional)Innovation

ProductInnovation

TechnologicalInnovation

Organizational(Structural)Innovation

MarketingInnovation

DeliveryInnovation

ProductionInnovation

Supply ChainInnovation

User-DrivenInnovation

Types of Innovation: © Dr Dave Richards

CustomerEngagementInnovation

BrandInnovation

ChannelInnovation

Network(Open)

Innovation

Profit ModelInnovation

Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive

Innovations

MarcomsInnovation

User Innovation

Developmental(and Educational)

Innovation

Service(as Delivery)Innovation

Service(as Product)Innovation

Business ModelInnovation

Process(Functional)Innovation

ProductInnovation

TechnologicalInnovation

Organizational(Structural)Innovation

MarketingInnovation

DeliveryInnovation

ProductionInnovation

Supply ChainInnovation

User-DrivenInnovation

Types of Innovation: © Dr Dave Richards

CustomerEngagementInnovation

BrandInnovation

ChannelInnovation

Network(Open)

Innovation

Profit ModelInnovation

Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive

Innovations

MarcomsInnovation

User Innovation

Developmental(and Educational)

Innovation

Service(as Delivery)Innovation

Service(as Product)Innovation

Business ModelInnovation

Process(Functional)Innovation

ProductInnovation

TechnologicalInnovation

Organizational(Structural)Innovation

MarketingInnovation

DeliveryInnovation

ProductionInnovation

Supply ChainInnovation

User-DrivenInnovation

Types of Innovation: © Dr Dave Richards

CustomerEngagementInnovation

BrandInnovation

ChannelInnovation

Network(Open)

Innovation

Profit ModelInnovation

Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive

Innovations

MarcomsInnovation

User Innovation

Developmental(and Educational)

Innovation

Service(as Delivery)Innovation

Service(as Product)Innovation

Business ModelInnovation

Process(Functional)Innovation

ProductInnovation

TechnologicalInnovation

Organizational(Structural)Innovation

MarketingInnovation

DeliveryInnovation

ProductionInnovation

Supply ChainInnovation

User-DrivenInnovation

Types of Innovation: © Dr Dave Richards

CustomerEngagementInnovation

BrandInnovation

ChannelInnovation

Network(Open)

Innovation

Profit ModelInnovation

Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive

Innovations

MarcomsInnovation

User Innovation

Strategic Goals of Communication:• Influence | persuade | sell• Inform | educate | elucidate• Market | build value perception / experience

© Dr Dave Richards

“A cynic knows the price of everything, and the value of nothing.”

Oscar Wilde

SMART GOALS• Specific• Measurable• Audacious• Realistic• Time-bound

“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.”

Michelangelo di Lodovico Buonarroti Simoni

THANK YOU!

Powering Innovation!

+44 (0) 7733 812295dave@drdaveinnovation.com

linkedin.com/in/drdaverichardswww.facebook.com/drdaveinnovation

twitter: @drdaveinnov8ion

30% Discount Code: PM16THIRTYwhen ordering from Palgrave.com

“The Seven Sins of Innovation elevates the thinking on this crucial subject to the highest level”.Roger Lacey, Chief Strategy Officer, 3M