Mindavation (mind a vã shen) n - Building Business · PDF fileinnovate die.' – Henry Chesbrough ... –A corporate culture that supports their innovation strategy ... companies

Mindavation – (mind a vã shen) n.

the use of the creative mind to inspire motivation that results in innovation,

productivity and growth – mindavate v.

Copyright Mindavation 2014 www.mindavation.com.au

1

Idea Innovation from Strategy through Tactical

to Operational

Haydn Thomas

[email protected]

0410 629 402

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Learning Objectives

Learn how to take Idea Innovation through the lifecycle to achieving your stated outcomes.

1. Processes and activities of the Managed Front End

2. Use of the Innovation Leadership framework to transform concepts into launching into target markets.


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Why We Care About Successful Innovation

• 'Most innovations fail. And, companies that don’t innovate die.'

– Henry Chesbrough, Center for Open Innovation

• 'A business has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.'

– Peter Drucker, business guru


4

Value & Benefits of Innovation

The 'best' (top 25%) companies with an innovation process compared to the 'worse' (bottom 25%) companies.

Metric Best Worse

% revenue from new products 36.3 10

% of profits from new products 30.5 10

% of commercial successes 70 35

% of project on time 70 20

% of projects on budget 81 40

% meeting profit, sales, and market-share objectives 70 approx 30 approx


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Key Elements of an Innovative Company

• Focused innovation strategy

• Winning business / corporate strategy

• Deep customer insight

• Great talent

• Proper set of capabilities

• Supportive culture

SILA

An expression of the thread necessary between

these elements


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What is being said at the C Suite

'Companies whose strategic goals are clear, and whose cultures strongly support those goals, possess a huge advantage.‘

Palensky [CTO] articulates his company’s innovation strategy

clearly:

‘We call it customer-inspired innovation. Connect with the customer, find out their articulated and unarticulated needs, and then determine the capability at 3M that can be developed across the company that could solve that customer’s problem in a unique, proprietary, and sustainable way.’

(Booz, 2011, p. 4)

Strategic Goals + Supportive Culture


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What is Innovation?

• A process of devising a product concept that satisfies the customer’s unmet needs.

• A process that consists of activity phases and decision gates, which produces new or improved products.

• A process for developing a successful culture of innovation, bringing together the different individuals and groups across the organisation for ideas to be created, developed and implemented.


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One Model – Three Process Groups

Managed

Front

End

New Product Development

Lifecycle Management


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Core Activities: MFE - STRATEGIC

• Align with Strategy, Objectives, and Culture

• Idea Generation

• Idea Management (screening & evaluation)

• Concept Creation

• Leverage organisational Assets

• Business Case Development

• Integrate with New Product Development

To deliver well-defined concepts to the NPD process


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Managed

Front

End

Core Activities: NPD - TACTICAL

• Conceive

• Plan

• Develop

• Qualify

• Launch

To create a product valued by the target market


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Core Activities: Lifecycle Mgmt -OPERATIONAL

To provide and position a product to the target market

Sell

Intr

od

uct

ion

Gro

wth

Mat

uri

ty

De

clin

e

Time

Sales

Ret

ire


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Where do we Start - SILA

1. Strategy: Comprehensive, purposeful, essential

2. Innovation: Focused on product innovation to achieve objectives

3. Leverage: Power to act effectively and wisely

4. Alignment: Harmonising organisational mission, culture, and resources


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Why SILA?

• Only about half of the most innovative companies have:

– A corporate culture that supports their innovation strategy

– Alignment between the innovation strategy and the corporate strategy

• Nearly 20% do not have a well-defined innovation strategy

• '…companies with unsupportive cultures and poor strategic alignment significantly underperform their competitors.'

(Booz, 2011, p. 1)


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Inputs

Mission, Vision, Values

Innovation Strategy

Corporate Strategy

Culture

SILA


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Supportive Culture Elements

Source: Booz & Company. The 2011 Global Innovation 1000 Report

Copyright Mindavation 2014 www.mindavation.com.au 16

Innovation Strategy Goals

Source: Booz & Company. The 2011 Global Innovation 1000 Report


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SILA

SILA is concerned with how the pieces of the organisation fit together and how the pieces support each other

Corporate Strategy

Mission

Vision

Values

Culture Objectives

Systems Thinking

NPD Strategy

NPD Process

Organisational Structure

Allocation of Funds

Organisational Capabilities …


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Strategy to Tactical to Operational


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SILA

Pro

ject

Ide

nti

fica

tio

n

1. C

on

ceiv

e

2. P

lan

3. D

eve

lop

4. Q

ual

ify

5. L

aun

ch

Bu

sin

ess

Cas

e

Dev

elo

pm

en

t

6. S

ell

7. R

etir

e

T a c t i c a l

Managed Front End


Lifecycle Mgmt

Certified Innovation Framework

Managed Front End New Product Development Process

Product and Platform Management

SILA Strategy Driven

Innovation Focused Leverage Capabilities

Align Throughout

Five Phases

Phase 1 Conceive

Phase 2 Plan

Phase 3 Develop

Phase 4 Qualify

Phase 5 Launch

Project Identification

Business Case Development

Knowledge Generation

Risk Management

Beta Testing

Concept Testing

Project Management

Next Generations

Market Testing

Product Use Testing

Portfolio Management

Alpha Testing

Design Locked

Product Launch

Maturity

Decline


Mission, Vision, Values

Corporate Strategy Innovation Strategy

Growth

Introduction

Retire

20 Copyright Mindavation 2014 www.mindavation.com.au

What is a Certified Innovation Leader?

• A person responsible for or significantly involved in innovation who seeks ideas or needs and transforms them into successful new products or improvements to existing products for an organisation

• Roles and titles vary:

– project manager

– marketing manager

– product champion

– innovation officer

– product manager

– engineer

– business analyst

– brand manager

– designer

– sponsor

– development manager

– …


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Test Your Knowledge

The innovation process consists of the Managed Front End & the?

1. Ideation process

2. New product development process

3. Organisational development process

4. Business case development process


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Test Your Knowledge

The 'best' (top 25%) companies have an innovation process and generate approximately what percentage of their revenue from new products?

1. 12%

2. 24%

3. 36%

4. 48%


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Learning Objectives

Learn how to take Idea Innovation through the lifecycle to achieving your stated outcomes.

1. Processes and activities of the Managed Front End

2. Use of the Innovation Leadership framework to transform concepts into launching into target markets.


24

Questions?


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How to Communicate with Mindavation

THINK ACT! - On the back of your business card write the following letters as you see fit

• A – means you want to be Added to our mailing list to receive our regular Newsletter and course updates .

• C – means you want Mindavation to Contact you for some reason. We’ll give you a call!

• T – means you want the electronic version of the Mindavation Template discussed during this presentation (it’s free!)


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About the Presenter

Haydn Thomas Principal and Practice Lead - Mindavation

Haydn has over 20 years of real world experience in project, business analysis and business consulting. He has worked extensively in large international and domestic banks, semi government organisations, solution providers and small start-up companies in defining and implementing structure, business solutions, change management and efficiencies across Australia, New Zealand & North America. Haydn’s experience in complex integrated solutions and working knowledge of various project management methodologies (PMBOK, PRINCE2, SDLC) assists in delivering on client’s project and training needs. Haydn also provides mentoring and coaching services in project management & business analysis and is active in delivery of courses enabling capacity building across many organisations.

[email protected] 0410 629 402

27 Copyright Mindavation 2014 www.mindavation.com.au

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Mindavation (mind a vã shen) n - Building Business · PDF fileinnovate die.' – Henry Chesbrough ... –A corporate culture that supports their innovation strategy ... companies