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Innovation is Everyone´s Responsibility and Why Innovation Matters
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Innovation is Everyone´s Responsibility and Why Innovation Matters Here you get my slides from a recent presentation in Turkey where I was asked to provide perspectives on innovation through two important questions / lenses: Why innovation matters? My key message is that innovation matters if your company wants to stay relevant – and survive. It is that simple. Just consider this piece of information: At the current churn rate, 75% of the S&P 500 firms in 2011 will be replaced by new firms entering the S&P500 in 2027. There is so much change and it is happening so fast. Innovation can mean many things, but it is a general understanding that it helps you fight irrelevance and helps you drive change rather than becoming a victim of it. Innovation is everyone´s responsibility. I work with innovation on three levels; incremental, radical and “in between”. The latter is often the most relevant because it can really change things and have a strong impact while companies have a good chance of succeeding with this with the right setup, processes and people. Radical or disruptive innovation is highly desirable, but it is also very difficult to achieve. It requires a lot of luck as well as the right framework and conditions for this luck to happen. Very few organizations succeeds here. While everyone in an organization should contribute to incremental innovation, I don´t think everyone should work with radical or “in between” innovation – at the same time that is. Most people just have to focus on the getting their daily jobs done. However, every employee should be given an opportunity to contribute to radical and “in between” innovation through corporate programs that could be based on the concept of intrapreneurship, incubators, accelerators or something similar. When it comes to getting people to understand that everyone actually can contribute to all three levels of innovation, I like to use the Ten Types of Innovation framework by Doblin as it is a simple and visual concept that can open the eyes of the “unusual suspects” when it comes to innovation contribution. Well, check my slides and let me know what you think. I am of course open for discussing a session or talk near you :-)
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Innovation is Everyone´s Responsibility and Why Innovation Matters
- www.innovationupgrade.com stefanlindegaard@me.com Twitter: @lindegaard Hey! Free books, white papers and exercises on innovationupgrade.com! Innovation Is Everyone´s Responsibility
- Author, speaker and strategic advisor on open innovation, innovation management / culture and the people side of innovation. Get in touch! www.innovationupgrade.com stefanlindegaard@me.com @lindegaard Stefan Lindegaard
- Why does innovation matter? Staying relevant – and surviving!
- Three global megatrends drive innovation today: Everything moves faster, everything will be connected and there will be a much higher degree of transparency with regards to knowledge.
- Focus is shifting away from ideas as they are in abundance. Now, the front end of innovation is the easier part and the execution is what really matters. We have begun the transition phase.
- Disruption hits much harder and much faster than ever before. You can’t plan for disruptive or radical innovation, but you can be sure you will be disrupted.
- How do you understand innovation? What does it mean to you? What is the corporate understanding of innovation?
- The language of innovation and how people understand the term is vague and fuzzy at best; dangerous at worst. This can cripple organizations.
- Name three companies to envy for their perceived culture of innovation!
- You can’t copy Apple, Google and 3M. Does it make sense to talk about innovation culture? Corporate transformation = Let’s stop talking about innovation and just execute!
- Corporate transformation is key and new thoughts on innovation can help ignite this. However, corporate innovators must step up their game and be ambitious to play a role in this.
- Strong organizations do four things very well: They listen, adapt, experiment and execute better than their competitors.
- Open innovation and business model innovation – 2 key concepts
- What is open innovation? “…a philosophy or a mindset that they should embrace within their organization. This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input” Open innovation as a term will disappear in 5-7 years!
- 1. Common Language and Understanding, Motivation, Mandate and Strategic Purpose 2. Assets and Needs 3. Value Pools and Channels 4. Internal Readiness 5. External Readiness 6. New Skills and Mindset 7. Communications Strategy 7 Steps for (Open) Innovation Get the free book on 15inno.com – let´s have a session later!
- www.businessmodelsinc.com
- Innovation is everyone´s responsibility
- Let´s talk more about Tesla and their reasons for success - New R&D and lots of technology-driven innovation - Market-focused innovation (EV in the high end) - Process and service innovation (dealership structure, IT updates)
- Worldwide Innovation Team, Pfizer - more than R&D. Just a small group in a large company – but a nudge in the right direction.
- Chart by BusinessInsider Strong innovation teams know they can´t do it by themselves; they become facilitators and integrators. Education is a key objective.
- • The corporate innovation team itself • Employees • Managers • Executives • Key external stakeholders Who should be trained on innovation? Guess what the most important group is – and also the most neglected one…?
- • The executives say we know what innovation is and how to make it work in our organization. It’s the employees that do not execute. • Employees say our leaders do not know how to set up the right processes and conditions for innovation to happen. Perceptions and mis- perceptions This brings us to an important question…
- • We need to educate our executives on innovation! What is the real problem? Two different situations; two different approaches – although tied together… or • We need to make our executives realize that they have a problem with regards to innovation!
- • Lack of innovation training – at school and at work • Very busy people with “healthy” egos • They don’t listen to employees nor consultants • They are not likely to question the skills and mindset that got them to the top • Too focused on the short-term perspective Barriers for training executives on innovation What can be done? Another day for this.
- People first, processes next, then ideas. The key for execution is people – don´t focus too much on ideas and projects.
- Discovery – Incubation – Acceleration: Have the right people for the right project at the right time. Build people pools, not just project pools.
- What skills / key people do you need now, short and long term? How do you get access to them?
- The TBX model or why middle managers stop…
- • T (Top Down): Get executives onboard, personally committed to innovation. Without executive support, no change occurs • B (Bottom Up): Value creation begins with people, one by one, team by team. Nothing happens unless you get employees engaged • X (Across): Middle managers get the job done (for good and bad) – set the right objectives and incentives! ...innovation just by doing their job! Everyone ask themselves a very simple question: What´s in it for me? - know the answer before you start your initiatives.
- BeGlobal – some lessons! • Nothing matters if you do not have the right mindset! • Work with A people – and partners! • Disruption is unavoidable; prepare for it! • Internet of Things will change everything! • Turkish people are everywhere – use it!
- Horizontal: disposition for collaboration across disciplines Vertical: depth of skill which allows to contribute Credit: Tim Brown / IDEO Only T-shapes: “Occasionally, we have people who don’t really have a depth of skills, and they really struggle. They don’t get respect from the group.” Only I-shapes: “…very hard for them to collaborate…each individual discipline represents its own point of view…becomes a negotiation…you get gray compromises… The results are never spectacular but at best average.”Not Invented Here versus Re-applied with Pride
- A CFO is wary about investing in the training and education of the employees. He asks the CEO: ”What happens if we invest in developing our people and then they leave the company?” The CEO is a bright person and replies: ”What happens if we don’t and they stay?”
- • Tap into my knowledge and my global network • Frequent webinars, Q&As and physical sessions around the world • Build a stronger brand for yourself and your company www.innovationupgrade.com stefanlindegaard@me.com Innovation Upgrade - a training program on innovation