Innovation in a dynamic business context
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Stefan Erschwendner was speaking at the Digital Camp of the Good School in Hamburg on the topic of Innovation.
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Innovation in a dynamic business context
- 1. UNDERSTAND TODAY. SHAPE TOMORROW. 29.01.2015 GOOD SCHOOL INNOVATION
- 2. CONTEXT
- 3. 15 Organisations are under pressure *Source: http://www.technologyreview.com/view/519226/technology-is-wiping-out-companies-faster-than-ever/
- 4. 16 Constant & fluid exchange People Technology Markets Organisation
- 5. 17 The main thing that has caused companies to fail, in my view, is that they missed the future.” Larry Page, TED 2014
- 6. 18 All organisations operate in the same environment. The difference between winners and losers are their strategies and capabilities to identify and act on opportunities.
- 7. 19 Ripe for disruption *Source: http://www.imd.org/uupload/IMD.WebSite/DBT/Digital_Vortex_06182015.pdf
- 8. 20 “Is is not the strongest or the most intelligent who will survive but those who can best manage change.” Charles Darwin
- 9. 21 Start-up vs. incumbent - Core competences *Source: http://www.imd.org/uupload/IMD.WebSite/DBT/Digital_Vortex_06182015.pdf
- 10. 22 “What is holding us back is our inability to unlearn some generally accepted paradigms, ways of doing and thinking. ” Joanna Bakas
- 11. 23 “Software is eating the world.” Marc Andreessen *Source: http://www.wsj.com/articles/SB10001424053111903480904576512250915629460
- 12. 24 Unbundling of a Bank *Source: https://www.cbinsights.com/blog/disrupting-banking-fintech-startups/
- 13. 25 You used to analyse companies based on their industry. This definitions don’t exist anymore. Today you need to look at the specific business model of each company.
- 14. *Source: 26 Redefining industry boundaries https://hbr.org/2014/11/how-smart-connected-products-are-transforming-competition
- 15. 27 – Market shifts are unpredictable – Small teams can create immense value – New markets are winner-take-all – Speed is the only competitive advantage – For every success, there are a multitude of failures The business context of today
- 16. INNOVATION STACK
- 18. *Source: 30 Clayton Christensen “Successful companies can put too much emphasis on customers’ current needs, and fail to adopt new technology or business models that will meet customers’ unstated or future needs.”
- 19. *Source: Place your link here
- 20. *Source: 32 Redefining industry boundaries https://hbr.org/2015/12/what-is-disruptive-innovation
- 21. *Source: 33 Performance Engine vs. Innovation Engine Place your link here Performance Engine Innovation Engine Problem is well understood Problem is not well understood Existing market New market Innovaiton improves performance Innovation is dramatic game changer Evolutionary innovation efforts Revolutionary innovation efforts Satisfying current customer needs Satisfies emerging customer needs (niche) Traditional business model Emerging business model
- 22. 34 German organisation are world champions in evolutionary innovation “German over engineering.”
- 23. *Source: 35 Synergy between Performance & Innovation Engine Performance Engine Innovation Engine Innovations & Learnings Funding
- 24. *Source: 36 Innovation Stack Customer Development MVP Business Model Canvas Place your link here
- 26. *Source: 38 Steve Blank “No business plan survives first contact with a customer”
- 28. *Source: 40 Customer Development Process steveblank.com/category/customer-development/
- 30. *Source: 42 Alexander Osterwalder “A business model describes the rationale of how an organisation creates, delivers, and captures value”
- 31. *Source: 43 Business Model Canvas Place your link here
- 32. *Source: 44 Business Model Canvas www.businessmodelgeneration.com/canvas/bmc
- 33. MVP
- 34. *Source: 46 Eric Rise “The lean startup method is not about costs, it is about speed. The goal of a lean startup is to move through the build-measure-learn feedback loop as quickly as possible.”
- 35. *Source: 47 Customer Development Process theleanstartup.com/
- 36. *Source: 48 MVP Minimal Viable Product It is the sweet spot between products without the required features that fail immediately when shipped and the products with too many features that cut return and increase risk. The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. Place your link here
- 37. IMPLEMENTATION
- 38. *Source: 50 Innovation Strategy Incubation InvestmentAcquisition Internal incubation Early Stage / Acqui-Hire Access to fast growth Place your link here
- 39. 51 Product segmentation Customer segmentation Customer dedication
- 40. 52 Continuos research from customer perspective People Technology Markets
- 41. UNDERSTAND TODAY. SHAPE TOMORROW. 53 LHBS // VODAFONE REFRESH HUNGARY EXPERIENCE (CUSTOMER & BRAND) How might you make the customer experience smoother and better? What might be experiential ways to get your value proposition across? COMMUNICATION (CONTENT VS. MESSAGE) What’s your tone, personality and style?How might you create communication or content that delivers value not just promises it? SERVICE (EXTENDED) What additional, added value services might be the actual message of your value proposition? PRODUCT (CORE) How might you adapt or amend your product around a real need or moment? INNOCENT Communication Service Experience Product Customer Value Proposition Customer Value Proposition
- 42. *Source: 54 Coca-Cola 70/20/10 rule - Dynamic budgeting https://lhbs.inspiration-hub.com/en/v/j92al1yctcDMvIDMvEDMtIXdsV2XfFDN1QDM3EDOzgzXfJjM 70% “Now” Established and successful programs 20% “New” Emerging trends that are starting to gain traction 10% “Next” Completely untested areas
- 43. READING LIST
- 44. *Source: 56 Recommended reading list Place your link here
- 45. 57 Contact Stefan Erschwendner Managing Partner se@lhbs.com +49 151 6462 0729
- 46. UNDERSTAND TODAY. SHAPE TOMORROW. Die in dieser Präsentation dokumentierten Gedanken und Vorschläge sind geistiges Eigentum der LHBS Consulting Berlin GmbH und unterliegen den geltenden Urhebergesetzen. Die unauthorisierte Nutzung, die ganze oder teilweise Vervielfältigung sowie jede Weitergabe an Dritte ist nicht gestattet. LHBS Consulting Berlin GmbH Köpenicker Straße 154 10997 Berlin Germany www.lhbs.com THANK YOU