Innovation in Action!

Innovation in Action!

• 1.
  Step 2 Step 3 Step4 Step 5 Step 6 Step 7 Step 1 Continuous Improvement Service Profitability Learning Mindset Infographic: Innovation for Results! Value Toolkit Focus Excellence Leverage Team Brief Value Drivers Teamwork Metrics 1 2 3 4 Execute Learning Impact Results! Present Peer Review Four Iterations Repeat Innovation Refocus Engage Lean Scorecard Diffuse Governance ProcessOutline Competitive Advantage Generic Example Competing through knowledge leadership - the focus of the programme is on the practical and immediate application of learning Value Innovation: A key issue for every organisation is the level of innovation required to maintain a strategic edge i.e. a significant competitive advantage in a rapidly changing marketplace. The ability to discern the 'vital few' (i.e. key value drivers) in each of the core dimensions of performance and systemically is a key management skill and the essence of business acumen. Innovation in Action! is designed to focus the skills, knowledge, creativity and emotional energies of people (teams) on the things that really matter for long-term success i.e. the 'vital few' (20%). Knowledge leadership is about recognising that regardless of what business you are in, you are competing based on the skills, knowledge, creativity and disposition (engagement/attitude/motivation) of employees. Every organisation will have to learn to innovate - and innovation can now be organised and must be organised as a systematic process - Drucker Sustained Engaging and focusing the creative potential of people The rate at which organisations learn may become the only sustainable source of competitive advantage - Stata The crucial importance of focus and leverage Focusing on what's really important for sustained competitive advantage © www.frank-coyne.com Small changes can produce big results, but the areas of highest leverage are often the least obvious - Senge 4 Accelerated Innovation Learning-by-doing in action Francis P. Coyne + Associates Executive Education and Training Consultants Firm's Distinctive Capabilities Customer Perceived ValueCVP Customer Engagement Static ⇒ Customer Relevance ⇒ Fact-based analysis Value Drift Dynamic Example here: https://db.tt/WVRs55dh Trivial Many Impact or Leverage 80% Results, Outputs, Rewards, Achievements Capitalising on the imbalance between effort and reward 'Tinkering' Incremental Improvements People Customer Financial Operations Environment CoreDimensionsofPerformance Customer Pyramid 80% Small 1% 4% 15% Large Top Medium Multiple Dimensions of Innovation Systematic Opportunity Seeking Top-line growth + bottom-line results! Strategic Innovation Concept Innovation Product Innovation Service InnovationProcess Innovation Structural Innovation Design Innovation Channel Innovation Mission Objectives Values Strategy Customer Perceived Value Accelerated Innovation Management Training workshops ⇒⇒⇒⇒ Team briefings ⇒⇒⇒⇒ Focus and leverage ⇒⇒⇒⇒ Team assignments ⇒⇒⇒⇒ Impact assessment ⇒⇒⇒⇒ Shared learning Creating an adaptive (learning) organisation capable of repeatedly transforming and reinventing itself to remain effective A seven-step process - turning knowledge, engagement and creativity into sustained competitive advantage Bridging the 'knowing-doing' gap: Learning-by-doing in action! Turning knowledge and latent creativity into action ⇒⇒⇒⇒ People must be engaged ⇒⇒⇒⇒ Results must be measurable Disposition and Motivation ⇒⇒⇒⇒ Communications, Engagement, Teamwork ⇒⇒⇒⇒ Tools and Techniques ⇒⇒⇒⇒ Measurable Results ⇒⇒⇒⇒ Institutionalise Innovation and CPI Impact C ulture of Innovation, Learning & C ontinuous Im provem ent Keys: Engage ⇒ Challenge ⇒ Support Example: An 'action-learning', team engagement, peer review programme 20% Value Drivers Prospective (undetected slippage) Note:Fact-basedAnalysis ExecutiveDashboard CPV Mindset Value Creation