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INNOVATION CONSULTANTS
CHIEF INNOVATION OFFICER SUMMIT
SAN FRANCISCO, MAY 22, 2015
100 LESSONS FROM
WORLD-LEADING INTRAPRENEURS
DAN TAYLOR
Managing Director, North [email protected]
+1-917-608-3069
@NYC_MG
HENRY EGAN
Senior [email protected]
@henrylegan
IAIN MONTGOMERY
Senior [email protected]
@iain_MG
CORPORATE
INNOVATION
=
ACT LIKE A
STARTUP
BIG BUSINESS ≠ STARTUP
CORPORATE
≠
STARTUP
RISK
GOVERNANCE
LEADERSHIP
SHAREHOLDERS
PEOPLE & CULTURE
PURPOSE
OPERATIONS
CUSTOMERS
BRAND
SPEED + SCALE
GOOD OR BAD?
#1
SPEED
CHALLENGE SOLUTION EXAMPLE
You’ve got to convince
the exec team to give
your initiative the green
light
Scare executives into
action
A Dulux Paint team
mocked up press
coverage of a competitor
product launch to
instigate action
10
CHALLENGE SOLUTION EXAMPLE
You’ve got lots of
stakeholders to keep
happy, which slows down
decision making
Create a single C-suite
owner accountable for
each innovation initiative
CEO leadership meant Air
Canada launched Rouge
in 11 weeks
CHALLENGE SOLUTION EXAMPLE
You’ve got less impetus to
innovate in a corporate
Set a deadline Megabus set a deadline
of launching a business in
the UK in 8 weeks
CHALLENGE SOLUTION EXAMPLE
You have stakeholders
that are naysayers
Appoint the naysayer to a
key role on the project –
preferably one with a
public face
Marks & Spencer CEO
appointed one exec to
lead the Plan A program,
turning him from naysayer
to outspoken advocate
“It’s probably better to have
him inside the tent pissing
out, than outside the tent
pissing in”Lyndon B. Johnson
CHALLENGE SOLUTION EXAMPLE
There are lots of cooks
that can spoil the
innovation broth in a
corporation
Create small SWOT
teams to focus on
innovation challenges
At Amazon, project teams
are deemed too large if
they can’t be fed by two
pizzas
CHALLENGE SOLUTION EXAMPLE
You’ve got big, siloed
organization
Pull together a functional
hit squad
To launch new products,
AEGON put together a
cross-functional team,
situated in an abandoned
office space
CHALLENGE SOLUTION EXAMPLE
Innovation efforts aren’t
“do-or-die”, so often
stagnate
Make a public
commitment
Sainsbury’s announced a
plan for a new venture in
China to investors,
creating a sense of
urgency
CHALLENGE SOLUTION EXAMPLE
You can’t run a complex
business with thousands
of people without
hierarchy – yet the boss
isn’t always right
Ditch HIPPO (highest-
paid-person’s opinion)
At Amazon, even the
most senior executives
need customer buy-in to
implement new ideas
CHALLENGE SOLUTION EXAMPLE
You’ve thousands of
employees, making it
hard to pivot
Sell the problem you’re
trying to solve, not the
solution
Netflix focused on making
it simple to watch movies
at home – making it easy
to switch from DVDs to
streaming
CHALLENGE SOLUTION EXAMPLE
You’ve got to get
business units to buy into
your new idea
Offer to co-invest with
business units – both
people and money
Boehringer Ingelheim’s
innovation team provided
50% funding to business
units developing new
products and services
CHALLENGE SOLUTION EXAMPLE
You’ve got a million+1
distractions from running
the core business
Create a dedicated
facility, detached from the
day-to-day business
Google X is housed at an
undisclosed location in
Northern California
20
CHALLENGE SOLUTION EXAMPLE
You’ve got a huge amount
at stake
Use prototyping to test
your concept early and
often
Ford uses 3D printing to
accelerate its prototyping
process
#2
SCALE
CHALLENGE SOLUTION EXAMPLE
You’ve got layers of
management that create
distance from your
customers
Get back to the floor By spending time with
front-line staff, Heathrow
uncovered innovative
insights into airport
security
CHALLENGE SOLUTION EXAMPLE
You’ve already got lots of
customers
Use crowdfunding to test
new ideas and gauge
demand
Epson crowdfunded its
new augmented reality
headset on Prelaunch
CHALLENGE SOLUTION EXAMPLE
You’ve got a host of
startups trying to disrupt
your industry
Launch a challenger
brand
HSBC launched First
Direct, a branchless
challenger bank
CHALLENGE SOLUTION EXAMPLE
You’ve got to meet
quarterly earning targets
Look for quick wins to
keep innovation efforts
moving
Carbon Trust Ventures
launched a consultancy to
fund the venture team
while developing bigger
ideas
CHALLENGE SOLUTION EXAMPLE
You’ve got an established
brand that you’ve spent
years building
Let employees test new
concepts under a different
brand
Meridian Energy, a New
Zealand utility, chose the
“Powershop” brand to
launch an innovative new
business model
CHALLENGE SOLUTION EXAMPLE
You’ve got lots of valuable
assets and IP
Find a partner to unlock it GE partnered with Quirky
to launch a range of
direct-to-consumer
products
CHALLENGE SOLUTION EXAMPLE
You’re already the market
leader
Think big adjacencies and
niches
Caterpillar launched a
clothing line; Telecoms
provider O2 launched
GiffGaff
CHALLENGE SOLUTION EXAMPLE
You don’t always have the
right people in your
company to pursue an
idea
Recruit real
entrepreneurs instead,
and create spin-out
ventures
Coca-Cola recruit proven
entrepreneurs to address
challenges and spin out
the resulting ventures –
e.g. Wonolo
CHALLENGE SOLUTION EXAMPLE
You’ve got a set of
existing channels, and an
organization that relies on
them
Use channels as another
source of innovation
Apple partnered with IBM
to help accelerate its
growth in the business
segment
TAKE SOME CREDIT!
Register your innovations for the
CORPORATE ENTREPRENEUR AWARDS
2015
GET HELP!
Talk to us about how Market Gravity can bring
SPEED and SCALE to innovation in your
business
LEARN MORE!
Pick up your copy of The Secrets of Big
Business Innovation.
