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The Science of Innovation (Facts, Systems, Best practices)
The document presents insights from a presentation on the science of innovation, emphasizing the importance of building innovation capacities through systematic practices and clear alignment. Key findings include the critical role of strategic alignment and proactivity in driving innovation success, as well as the need for companies to adopt new mindsets similar to successful startups. The document also discusses guidelines for assessing and improving innovation readiness within organizations.
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The Science of Innovation (Facts, Systems, Best practices)
- 1. The Science of Innovation (Facts,the need for systems and best practices)
- 2. Notes to Readers •This is a presentation that was given June 30th in Brussels by @bryancassady • In this presentation you will discover: – Some facts on what is driving innovation success. – Why you need to go step by step to build your innovation capacities – How to interpret the results of our innovation readiness assessment. You can get your assessment at this link: http://tiny.cc/Slides_innov_ready – 10 best practices to build a culture of Innovation • We will present the results again in Brussels (http://tiny.cc/iscienceBXL) and Gent (http://tiny.cc/isciencegent ) • If you’d like to arrange a personalize talk at your company, contact [email protected]
- 3. Agenda • Why studyinnovation • Our Research • Terminologies • Key learnings from the research • The need for systems • Interpreting your results • Best practices • Q & A / Drinks
- 4. WHAT IS INNOVATION? CREATIVITY isabout new ideas INNOVATION is the profitable implementation of these ideas
- 5. Why it isimportant In Fortune 500 companies… New products account for 50% of revenues And 40% of profits
- 6. companies value innovation are classifiedas innovative by their peers
- 7. of their customers wouldagree of companies think they had a major innovation in the last 6 months.
- 8. of ideas failwhen brought to the market
- 9. Why Study Innovation(Scientifically) • Everyone seems to have an opinion about Innovation and there is an enormous amount of (conflicting) “information” • A need for facts instead of opinions • A need for fact based theories to guide action In Amazon there are 76.579 books on innovation !
- 10. How to bemeaningfully unique with 17 thousands management consultants Belgium ? “Companies are tired of paying for advice, but are willing to pay for business results.” The Fast Bridge Solution • A focus on new business development • The right people. Senior people with different skills • The right methods. Fact based, using the best from around the world • Whenever possible, results based compensation About us
- 11. World class contentfrom Working together with …
- 12. Senior people withgrey hair (no hair) with the tools, expertise and experience to make innovation happen
- 13. Our Core Interest.. Innovation is hard work, but startups are getting it right more often
- 14. Start-ups are about moresuccessful with new business projects than established companies. Some experts estimate that over of success in innovation is based on systems. 5x 80%
- 15. What should large companieschange in their systems ?
- 16. Over 200 !Articles/ Books Research has linked significantly higher levels of innovation and business performance to business philosophies, strategic alignment, business processes and organizational learning Let’s check it out … Innovation Performance Firm Performance Attitudes Processes Learning Strategic Alignment Theoretical Background
- 17. Our work sofar… • 42 one to one company interviews to validate questions and test questions found in over 200 academic articles • A survey with 71 test companies testing initial questions and validating links to innovation performance. • April 2015 we updated the full survey to better analyze disruptive and ongoing innovation success.
- 18. Now we aregoing to look facts, figures on innovation success
- 19. 3 definitions tostart 1. Sustaining innovations 2. Breakthrough innovations 3. InnoPreneurship: Bringing an Entrepreneurial Mindset to established companies Sustaining Keep competitive Breakthrough Create future
- 20. Setting up theresearch
- 21. Our research database: 3 types of variables 1. Dependent Variables (Innovation / Business performance) 2. Independent Variables (company characteristics) 3. Covariates (company size, country, etc.) Independent Var. #1 Dependent Variables Independent Var. # 2 Covariates Company Characteristics Habits Market Company size Etc. Innovation Business Results
- 22. A simplified viewof the data set 1 Desire / Hunger 2 Philosophies 3 Autonomy 4 Competitive 5 Creativity 6 Risk Taking 7 Proactivity 8 Structure Breakthrough Innovation Results Overall Strategy alignment 9 Strategy alignment Innovation Results Business 10 People processes Results 11 Organizational Design Sustaining 12 Customer Focus Innovation 13 Co-creation 14 Ecosystem Management 15 Speed / Results focus 16 Systems to select ideas 17 Commitment to Learning 18 Knowledge Sharing 19 Open Minded Dependent Variables Learning Orientation Entreprenuerial Orientation Independent Variables Processes Attitudes Note: All the questions are in the appendix
- 23. W Rich Investments in stocks Asimple example to show how we measured latent variables Attitudes towards saving Local alternatives How to measure Rich ? You can’t really ask…
- 24. W Rich Vacations Type Car Type House Jewelry Usingquestions to measure a latent variable (Rich) Reliability All measuring The same thing Yes, but Jewelry lowers reliability. Other latent factors Mea Measure: Cronbach alpha 0-1 (>.6 good, >.8 great)
- 25. W Rich Vacations Type Car Type House Jewelry Checkingwith other data Disposable Income Validity Measurement accurate ?
- 26. W Rich Vacations Type Car Type House Investments instocks A final model… Attitudes towards saving Local alternatives
- 27.
- 28. OVERALL INNOVATION • Rateof growth • Rate of new product/service introductions • Success rate of product/service introductions • Level of product differentiation in terms of unique selling points • New product cycle time (i.e. inception to rollout) • Ability to create new products/services with real consumer value • Profitability of new product/service introductions • Percentage of revenues from new products introduced in the last 2 years
- 29. We like toconstantly challenge the way things are done. In my company, there is a sense of urgency regarding the importance of transformation driven by innovation. Our innovation projects have helped our organization develop new capabilities that we did not have three years ago. We have a burning desire to explore opportunities and to create new things. We have committed leaders who are willing to be innovation champions. In my company, change is regarded as an opportunity rather than a threat. We encourage new ideas even if they seem completely out of our comfort zone and company's scope. Our firm rarely introduces products that are radically different from existing products in the industry. Our firm lags behind others in introducing products based on radically new technologies. We have no difficulty introducing products that are radically different from the existing ones in the industry. Desire / Hunger Negatively scaled
- 30. A simplified viewof the data set 1 Desire / Hunger 2 Philosophies 3 Autonomy 4 Competitive 5 Creativity 6 Risk Taking 7 Proactivity 8 Structure Breakthrough Innovation Results Overall Strategy alignment 9 Strategy alignment Innovation Results Business 10 People processes Results 11 Organizational Design Sustaining 12 Customer Focus Innovation 13 Co-creation 14 Ecosystem Management 15 Speed / Results focus 16 Systems to select ideas 17 Commitment to Learning 18 Knowledge Sharing 19 Open Minded Dependent Variables Learning Orientation Entreprenuerial Orientation Independent Variables Processes Attitudes Note: All the questions are in the appendix
- 31. Validity: Scaled measures /Self declared measures had a .8 correlation Reliability: The reliability of all scales was greater than .80 most higher than .9 (typical cut-off values .6-.7) Checking the Data .8 38% >.8Of business result variation explained by Innovation
- 32. Top-line correlation analysis Area Sustaining Innovation Breakthrough Innovation Overall Innovation DesireHunger 0.45 0.48 0.49 Philosophies 0.41 0.45 0.52 Autonomy (0.52) (0.37) (0.36) Competitive (0.37) (0.31) (0.40) Creative 0.33 0.58 0.54 Risktaking 0.26 0.61 0.58 Proactivity 0.53 0.59 0.59 Structure 0.49 0.45 0.44 All Entrep. Orientations 0.52 0.63 0.70 Strategic Alignment Strategic Alignment 0.54 0.62 0.68 People systems 0.40 0.44 0.55 Organizational Design 0.36 0.29 0.46 Customer Focus 0.36 0.54 0.57 Co-Creation 0.37 0.38 0.48 Ecosystems 0.36 0.28 0.49 Speed 0.52 0.68 0.62 Clear Decision Systems 0.25 0.35 0.51 Commitment to learn 0.45 0.20 0.43 Knowledge Sharing 0.45 0.16 0.46 Open Minded 0.41 0.47 0.44 All Learning Orientation 0.45 0.30 0.53 Overall Score Summary all Areas 0.56 0.64 0.71 Learning Orientation Entreprenuerial Orientation Attitudes Processes 1.Autonomy and competitiveness negatively correlated with Innovation success1 2 2.Entrepreneurial orientation = best predictor 3 3.Strategic Alignment = critical for all type of innovation 4 4.Speed is actually more important 5 5.Overall measure is strong
- 33. DETAILED ANALYSIS 7 KeyLearnings and suggested action steps
- 34. 1. You muststart with strategic alignment 2. Alignment, attitudes and learning systems will follow (clarify) 3. Focus on customers, not competitors 4. The right balance disruptive/incremental is key 5. Proactivity is the one thing you need to reward 6. Walk before you run 7. If you are in a big company or a small company you need to act like you are in a successful start up 7 Key learnings from the research
- 35. Not aligned MiddleAligned bottom 20% 60% top 20% Sustaining Innovation 22 56 65 Breakhrough Innovation 46 43 72 Overall Innovation 34 47 71 Other measures Ability to create new ideas 37 47 69 Ability to communicate new ideas 41 49 65 Ability to commercialize new ideas 43 48 65 Confidence in launching breakthrough Innovations in the future 29 56 57 N =202 companies 1. Strategic alignment is the cornerstone of successful innovation Action Point: before doing anything, look at how you can build alignment Details All participants ranked by level of strategic alignment (8 questions) Avg. Rank orders (0-100) Presented for other variables
- 36.
- 37. 2. If youget aligned, the right attitudes and learning orientation in place systems will follow Excellence in systems Predicted by Attitudes, Strategy Alignment, Learning Orientation 1. The model predicts 79% of the explained variance (a good model anything over 20%) 2. All variables significant with learning orientation / attitudes most predictive Action Point: Think of these elements as the foundation of your innovation program gets these right first R2 0.79 (1) Std.Coeffi cients B Std. Error Beta (Constant) .028 .045 .625 .533 Strategic Alignement .125 .069 .135 1.822 .072 Attitudes (ALL) .423 .069 .445 6.150 .000 Learning Orientation .392 .067 .409 5.863 .000 a. Dependent Variable: Systems_ALL Systems_ALL (2) Unstandardized Coefficients t Sig.
- 38. • Autonomy andcompetitiveness were negatively correlated with innovation results • Why: It can take away focus from solving customer issues. When customer focus is high. Both autonomy and competitiveness are positively correlated with results. Innovation Results Low Cutomer High Customer 71 57 49 21 Low High Low High Autonomy Autonomy FocusFocus 3. Innovation Focus on customers needs not competitors, not autonomy
- 39.
- 40. 4. The rightbalance Disruptive/ Incremental is key Std. Coefficients B Std. Error Beta (Constant) .896 .108 8.304 .000 Breakthrough Innovation 0.51 0.15 0.51 3.51 0.00 Sustaining Innovation 0.29 0.16 0.26 1.76 0.09 a. Dependent Variable: Overall Innovation Results Unstandardized t Sig. The biggest driver of overall innovation success is: Breakthrough Innovation A 1% improvement in breakthrough innovation will deliver 2 X more than a sustaining innovation (.51/ .26)
- 41. A balance portfolio= 85 % sustaining 15% breakthrough But 50% of profit growth from breakthrough Action Point: Build breakthrough innovation capabilities and reallocate funds
- 42. A process ofbuilding a model by successively adding or removing variables based on their estimated coefficients “Throw everything in and see what remains” Sideline: Stepwise regression
- 43. Testing Everything 1 Desire/ Hunger 2 Philosophies 3 Autonomy 4 Competitive 5 Creativity 6 Risk Taking 7 Proactivity 8 Structure Breakthrough Innovation Results Overall Strategy alignment 9 Strategy alignment Innovation Results Business 10 People processes Results 11 Organizational Design Sustaining 12 Customer Focus Innovation 13 Co-creation 14 Ecosystem Management 15 Speed / Results focus 16 Systems to select ideas 17 Commitment to Learning 18 Knowledge Sharing 19 Open Minded Dependent Variables Learning Orientation Entreprenuerial Orientation Independent Variables Processes Attitudes
- 44. 5. Proactivity isthe most important thing you need to reward Action Point: There is so much to do… use these facts to focus your efforts Unstandardized Coefficients Std Coefficient s t Sig. B Std. Error Beta (Constant) -.996 4.730 -.211 .834 Proactivity .465 .077 .484 6.063 .000 Commitment to Learn .286 .081 .291 3.539 .001 Clear Decision Systems .261 .080 .272 3.264 .002 Speed/Results focus .235 .079 .253 2.989 .004 Innovation Results All independent variables tested stepwise, 4 factors remained 1.The model predicts 63% of the explained variance (a good model is anything over 20%) 2.Proactivity is by far the most important driver of innovation performance
- 45. Now comes the mostimportant thing we learned
- 46. When we rankorder companies by innovation results there is a clear evolution of skills.. Group Strategy Learning Orientation Desire/ Hunger Operational Excellence Entrep. Orientation Bottom 25% 11% 4% 4% 0% 13% 25-50 42% 44% 24% 48% 44% 50-75 81% 58% 92% 92% 79% Top 25% 96% 100% 100% 100% 92% Stage 2 Stage 3Stage 1 Percentages represent the number of companies scoring over 40
- 47. Culture and capabilitiesgrow over time The Basics Strategy Hunger Philosophy Learning Orientation * Operations Speed Proactivity General systems Customer focus Entrepreneurial Orient. Risk Taking Ecosystem Management Structure Creativity Room to grow Sustaining Innov. Breakthrough Innov. Want it Do it Not scared to do more
- 48. How we seethis in the company results … Stage 1 Stage 2 Stage 3 Stage 4 Missing Basics Operations EO Core Breakthrough Innovation 19 44 55 70 Sustaining 25 40 50 64 Overall Innovation 34 50 67 76
- 49. Now our core researchquestion…
- 50. There is abig difference in the innovation profile of small and large companies No big surprise there… Small Big Desire / Hunger 65 39 Philosophies 68 35 Autonomy 35 61 Competitive 48 54 Creativity 58 41 Risk Taking 63 38 Proactivity 56 45 Structure 64 38 Strategy alignment 57 42 People processes 70 39 Organizational Design 67 38 Customer Focus 60 39 Co-creation 62 39 Ecosystem Management 59 41 Speed / Results focus 62 36 Systems to select ideas 58 44 Commitment to Learning 59 40 Knowledge Sharing 67 36 Open Minded 64 37 All
- 51. The real newsis: Successful Innovators big and small, have similar company cultures Small Big Desire / Hunger 75 79 Philosophies 81 70 Autonomy 27 41 Competitive 45 37 Creativity 72 72 Risk Taking 71 77 Proactivity 62 79 Structure 61 64 Strategy alignment 61 76 People processes 86 79 Organizational Design 70 72 Customer Focus 75 68 Co-creation 72 63 Ecosystem Managemen 67 65 Speed / Results focus 73 67 Systems to select ideas 85 70 Commitment to Learnin 49 72 Knowledge Sharing 81 59 Open Minded 65 57 Winning Innovators
- 52. Big Small BigSmall All Leaning Orientation 37 66 67 78 All Basics 37 68 72 77 All Operations 40 60 72 66 All Entrepreneurial Orientation 38 63 78 78 Overall Innovation Readiness 40 70 80 82 All Companies Winning Innovators
- 53. Action Step: Big orsmall, you need to work on innovating like a successful start up… The way to do it is step by step
- 54. Why you needsystems The Story of Innovation Engineering
- 56. “America’s #1 IdeaGuru” – A&E Top 10 ! “America’s #1 New Product Idea Man” – Inc. Magazine !
- 57. In his words.. Hesold spark plugs to Industry They worked for hundreds of companies, then the sparks worked less and less
- 58. They analyzed mountainsof data… • PEOPLE Data: innovation benchmarking data on over 100,000 managers. • PROCESS Data: As of this writing we have measured over 6,000 teams during a day of brainstorming. • IDEA Data: market research on over 26,000 innovations.
- 59. 16 % ideas 84 % systems Theyidentified the share of success due to ideas and systems to execute ideas
- 60. They found inspirationin the work of Dr. Edwards Deming
- 61. They created InnovationEngineering “A system for Innovation Success” The idea: to apply a process to innovation Demming calls is : Plan, Do, Study, Act (Lean Start-up: Build, Measure, Learn) What a company needs 1. Alignment 2. Attitudes 3. Skills 4. Learning Orientation Sideline: Demming is famous for revolutionizing manufacturing . He said that is low-hanging fruit Where the real gains from system thinking would be in : Marketing , Sales, Strategy (sounds a lot like innovation .. )
- 62. How to useyour Innovation Audit report card to check your systems.. You can get your assessment at this link: http://tiny.cc/Slides_innov_ready
- 63.
- 64. Step 1: Strengths Step2: Basics Step 3: Procedures Step 4: InnoPreneurship 1 2 3 4
- 65. . . Step 2 Getthe Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things u Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
- 66. . . Step 2 Getthe Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
- 67. . . Step 2 Getthe Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
- 68.
- 69. We work alot with Innovation engineering • A full innovation system • Great training materials • Flipped classroom technology • A library of close to 100 training videos • Testing after each video • In collaborattion with 26 Universities (and very fact based) • Fully updated once per year • Proven Academically validated (see National science report) 26,000 trained already/ close to 90% repeat rate
- 71. However, unlike manyconsulting companies we can pick and choose the best programs (not just ones we have developed)
- 72. 10 best practices 1.Assessment 2.Executivealignment 3.How to (Training) 4.Show it is important 5.Making change stick 6.Ongoing inspiration 7.Systems 8.Moments of truth 9.Ecosystem development 10.Acceleration programs
- 73. 1. Assessments You needto know where you are, to decide what to do next… 1 Overall Score 11 People processes 2 Desire / Hunger 12 Organizational Design 3 Philosophies 13 Customer Focus 4 Autonomy 14 Co-creation 5 Competitive 15 Ecosystem Management 6 Creativity 16 Speed / Results focus 7 Risk Taking 17 Systems to select ideas 8 Proactivity 18 Commitment to Learning 9 Structure 19 Knowledge Sharing 10 Strategy alignment 20 Open Minded Our Assessment: http://tiny.cc/Slides_innov_ready How Innovative Is Your Company’s Culture? http://tiny.cc/bainassess http://tiny.cc/tellisassess
- 74.
- 75. Executive alignment CIBAM (Benovate) 1day C level focus Life cycle/ business analysis to set key priorities Deliverable: Innovation portfolio Executive program (IE) 1.5 day C level focus Indiv. company or several companies Day 1: “How to” Day 2: “We need” Deliverable: skills to manage, 4-6 blue cards AFCE 3 Day Mixed group Intensive introduction to lean Start-up with choice of first projects Deliverable: Projects for the next 3 months KSFs: Strategy from within, linking alignment with actions
- 76. 3. How to(Training)
- 77. 77 2 Hours Leadership Meeting CREATEStimulus Mining 2Hours IE Workshops CRE<ATE COMMUNICATE COMMERCIALIZE 2 Hours Each or I Full Day 4 Hours - Choose and Finalize Blue Card - Those Already Trained Join Here Watch Video Before Mine on VIP or VIO Week 7 - 12 MonthlyWeekly Weekly Project Updates Fail FAST Fail CHEAP ‘work’ Quarterly Decide on Next VIO/VIS Wave GREEN BELT Certification Celebration 1.5 Hour .5 Hour Week 1 Week 2,3,4 Week 5 Week 6 Process Check In 1 Hour What’s Working? What’s Not? Innovate Process 2 Hours Define Ideas Green Belt Training
- 78. AFCE (Academy forCorp. Entrepreneurship) DEFINING IDEAS RAPID EXPERIME NTS PIVOT & ITERATE 3 Day Kick Off MONTH 1 Customer MONTH 2 MVP MONTH 3 Funnels 90 Day Roadmap
- 79. Common characteristics ofgreat training Learn it, then use it Use it with support
- 80. 4. Show itis important Tell them it is important, but more importantly show it • 555 program (5000 * 5 people * 5 days to make a prototype) • 1000 and a box (see video) • Start-up weekend (see video)
- 81.
- 82. Video: coca colastart up weekend https://www.youtube.com/watch?v= QFqjRTWi22c 82
- 83. 5. Making changestick • Train the trainer programs • Ongoing coaching and development • Mentoring programs
- 84. 6. Ongoing inspiration •Lots of content • Lots of diverse content and people • = A recipe for new ideas • If you’re a bank don’t ask banker to s peak, ask artists • Best in class google talks (inspired from P&G) • Search “google talks” in YouTube
- 85. The Talks atGoogle brings directors, actors/actresses, artists, authors, musicians, innovators, and speakers of all stripes
- 86. 7. Systems • Javelin •Innovation Engineering • Yambla KSFs: simple, action focused, learning based
- 87. 8. Moments oftruth Almost anything works faster with a deadline • Inspiration days • Pitch events (with internal / external judges) • Hackathons Up and running in 82 cities. Moments of truth (they call them forcing moments) are the foundation. Graduates 80% success, 52% funding
- 88. 9. Ecosystem development Ifyou want to move fast, it is usually not what you know, but who you know that makes the difference • Meet and greet sessions with Entrepreneurs • Events with entrepreneurs pitching ideas for your business challenges • Attendance at external events (eg Inacademy, The Founder Institute)
- 89.
- 90. 21 Days tobuild a business Week 1: Problem-solution fit (there is problem) Week 2: Product-Market Fit (you have a solution) Week 3: Business Model Fit (you can do it profitably and scale)
- 91. An example ofworld class Objectives A weekly learning cycle every week for 10 weeks 10 ideas for new users/ uses of their product At least 80 new ideas, with 60 killed, 10 merged and 10 in progress Alignment Every Monday… what next now Build ideas Each Friday a brain-storming session (with new external people) Communicate Check Systems Identify death threats/ work on death threats Kill all weak ideas where death threats not resolved in 2 weeks An 10 minute standing meeting every morning Write and document work done each week One person writes up the ideas/ Another lists the death threats External experts to validate/ give feedback on all ideas
- 92. Fast Innovation WorldOther Bridge Engineering Class Programs 1 Assessment Innovation readiness Limited None Innovation readiness Dartmouth, Bain assessment Depth of assessment/ proven CIBAMworkshop 1.5 day program 3 Day 1.5 day program Strategy consultants Coaching Coaching Workshops Coaching Independent consultants Solvay Innovation 3 Day Training 3 Day Training 3 Day Training Hands on during Program How to Lean Enterprise How to Hands on after Coaching Certification Certification Certification Project Acceleration Project Acceleration Project Acceleration (Death threat focus) (Step by Step) (Step by Step) 6 Ongoing Monthly events Blog None Monthly events Too many to list A network of speakers Yambla Innov. Engineering None TBD Cognistreamer Simplicity (Javelin would fit) (need to fit internal Bespoke systems Training to fit the systems systems) 8 Moments of truth Corporate Events Dates in acceleration programs Project milestones Corporate Events + milestones Too many to list Fit with your company, experience with events, Founder Institute experience 9 Ecosystem Development Misc. TBC An established network 10 Acceleration Programs Coaching/Mentoring TBC Coaching for innovation vs. project management Our Advantage Meet and greet sessions, Events with entrepreneurs Attendance at external events (eg Inacademy, The Founder Institute) Kick box, Events, Startup weekend, Customized events Kick box, Events, Startup weekend, Customized events University programs Focus: we are innovation experts (Strategy ≠ Innovation) Tools, methods, systems to coach innovation projects (and the right people) Fit with your company Experience with events Coaching/Mentoring Best practices: Innovation Development Too many to list Too many to list Executive Alignment How to (Training) Show Innovation is Important Support/ Making change stick System 2 4 7 5 3 AFCE (Moves the Needle) Summary Best Practices
- 93. Remember, sometimes “ Thehurrier you go, the behinder you get…”
- 94. Smart Speed A studyby Economist intelligence with 312 companies split into 2 groups: 1. Go, go, go 2. Think, go , think, go (paused at strategic moments) The companies with strategic pauses achieved: 40% higher sales, 52% higher profits
- 95. Conclusions… There is lotsyou can do.. The important things is to do something and if possible do things step by step Two Key recommendations: 1. Start before you think you need to start.. It takes time to build cultural change (there are no miracle solutions !) 2. Don’t reinvent the wheel… copy best practices
- 96.
- 97. Contact Information For questionsabout this presentation or request for a meeting please contact Bryan@fast- bridge.com +32-475-860-757 Links to external company references in this presentation: Innovation Engineering www.innovationengineering.org The Founder Institute www.fi.co European Innovation Academy www.inacademy.eu Benovate www.Benovate.biz AFCE www.afce.co
- 98.