SlideShare une entreprise Scribd logo
1  sur  34
Télécharger pour lire hors ligne
BY
Shay Merritté
Erin Keeler
Andy Ireton
Shawn White
UNDER
Prof. Michael Lieblein
Prof. Michael Bills
FOR
BUS MHR 894.60
Innovation Field Studies
Fisher College of Business,
The Ohio State University
JUNE 7 2011
OUTLINE
- PROBLEM DEFINITION
- INNOVATION OVERVIEW
- INTRODUCTION TO RIBS
- INTRODUCTION TO 20 Q
- FURTHER RESEARCH
PROBLEM STATEMENT
Create the underlying structure for
an Innovation Brief that captures the
development criteria, business case and
commercialization aspects of a proposed
innovation. The brief should be able to be
easily evaluated by an executive council
for funding and further development in
relation to Resource Interactive’s core
competencies and business objectives. 
3
DELIVERABLES
A 3-Piece Toolkit4
DELIVERABLES
Resource Innovation Brief 1:
Is this a valuable idea?
A 3-Piece Toolkit5
DELIVERABLES
Resource Innovation Brief 2:
What is the value of this idea?
A 3-Piece Toolkit6
DELIVERABLES
Twenty Questions:
How can the ideas value be captured?
A 3-Piece Toolkit7
A 3-Piece Toolkit
DELIVERABLES
TakenTogether:
A way to capture the development criteria, business case
and commercialization aspects of a proposed innovation
8
STAGE-GATING IMPLEMENTATION
Stage #1
Stage #2
Stage #3
Gate #1
Gate #2
Resource Interactive
employees populate RIB #1.
Executive Director of RI
Labs reviews RIB #1 and
selects ideas with merit
and provides feedback.
Innovation Council
Reviews RIB #2 and selects
projects to move forward
to fund and possibly
commercialize.
Innovation Council
completes the 20Q
questionnaire to determine
the best strategic decision
moving forward.
RI employees who
developed a meritorious
RIB #1 refine the concept
through RIB #2.
9
PHASES OF INNOVATION
PHASE 1
VALUE CREATION
PHASE 3
VALUE DELIVERY
PHASE 2
VALUE CAPTURE
How will consumer needs &
technological solutions evolve?
What is the central
source of innovative
advantage? How can
we best protect this
advantage? How
is this advantage
affected by change
What projects should
we fund? How
should we organize to
support
innovation within the
firm? What
work should we do
inside and what
should we outsource?
10
PHASES OF INNOVATION
PHASE 1
VALUE CREATION
PHASE 3
VALUE DELIVERY
PHASE 2
VALUE CAPTURE
How will consumer needs &
technological solutions evolve?
What is the central
source of innovative
advantage? How can
we best protect this
advantage? How
is this advantage
affected by change
What projects should
we fund? How
should we organize to
support
innovation within the
firm? What
work should we do
inside and what
should we outsource?
11
CORPORATE INNOVATION OPPORTUNITY
Macro Socio-Political
FORESIGHTS
Consumer/Customer
INSIGHTS
Technological &
Scientific
CAPABILITIES
BUSINESS
CASE
CORPORATE
INNOVATION
OPPORTUNITY
12
RESOURCE INNOVATION BRIEF (RIB) 1
SubmiSSionDate:innovation#:
microSummaarycLientbenefitDigitaLSpaceiDeaname
pointperoSn: commraDeS: front
How?
mobiLe facebook commerce in-Store twitter ipaD
1
otHerpartnerorganizationS
cLientSrv. tecHn. creative SocStrat XDD
partnerDiScipLineS
contract/LicenSe internaLDev. partnerSeLL Spin-off
commerciaLization
proceSS
Captures an
idea, is it
appropriate for
Resource?
13
PORTFOLIO ANALYSIS
New Product/
Market
RadicalNextGenerationImprovementIncrementalChange
Next
Customer
Better Service:
Existing Customers
Market Impact
BREAKTHROUGH
NEXT GENERATION
PLATFORM
DISRUPTIVE
INNOVATION ENHANCEMENTS
HYBRIDS &
DERIVATIVES
TechnologicalChange
Enhance Current
Products
14
RESOURCE INNOVATION BRIEF (RIB) 2
SubmiSSionDate:innovation#:
WhatiStheproject’SvaluepropoSition(Whatvalue/benefitSDoeSitDelivertoitScuStomer)?
WhoiSthetargetmarket/cuStomer?
WhatarecuStomerScurrentlypayingforthenextbeStalternative?WhatarethenextbeStalternativeS?
hoWDoeStheinnovationfitWithinreSource’ScurrentStrategicplan?
iSthetimingofthiSprojectappropriate?iSthemarketreaDy?iSthetechnologythere?
pointperoSn: commraDeS: front
2
BUILDS A
BUSINESS
CASE FORTHE
IDEA
KEY CONSIDERATIONS FOR INNOVATION
INDUSTRY
• Physical Assets of the Industry
• Importance of Brands
• Complexity of Supply Chain
• Intensity of Rivalry
•Type of Innovation: Radical or Incremental
• Product’s Complements
• Infrastructure Necessary to Innovate Ideas
• Will the Product Produce what it Promises?
• Consumers Interest into the Good/Service?
• Likelihood of a Substitute Product?
• Amount of Investment to Commercialize Idea?
INNOVATION
RISK
16
DECIDING WHATTO DO WITHTHE IDEA
CONTRACT
INTERNAL
DEVELOPMENT
SPIN-OFF
SELL
Less Control &
Smaller Investment
More Control &
Greater Investment
5 DIFFERENT
WAYSTO PURSUE
AN IDEA
• No “Black
Box” exists to
ensure Executive
Management
makes correct
decisions.
• Management
needs to be
cognizant of its
own capabilities &
limitations when
choosing a route
to pursue.
17
OUR COMMERCIALIZATION DEFINITION
COMMERCIALIZATION
(k-mur’she-li-za’shen) noun
Commercialization is the means
by which an organization captures
value by moving an idea from
inception to maturity, ultimately
benefiting the company’s intangible
and tangible assets.
18
EVALUATION OF MODEL AVAILABLETO RI
INTERNAL
DEVELOPMENT
Provides the most
amount of control over
Project
Company can utilize
Complementary
Assets if they relate to
innovation proposal
Great to use if
current infrastructure
already exists within
organization
Beneficial if
organization innovation
proposal mirrors
Company Culture
Involves high amount
of Proprietary
Information
CONTRACT/
LICENSE
Provides a certain
amount of control over
project and direction
Company can
extend beyond its
Complementary
Assets
Does not involve same
amount of investment
in idea as Internal
Development
Consider if a great
amount of Proprietary
Information
A better option if
current infrastructure
does not exist
PARTNER
Outsourcing to gain
complementary assets
Organization gives
up control, but also
decreases investment
Good to use if there
is a constant need for
innovation
Allows for organization
to extend beyond its
current customer base
Allows organization
to respond quickly in
changing landscape
SPIN-OFF
Generate new
business ideas
in collaborative
environment with RI
Allow RI to focus
more clearly on Core
Competencies
Avoid confusion
regarding services
provided to client and
project objectives
Organization avoids
large spend in project
that does not match
what company does
best
Company loses control
and direction of idea
Company loses
ownership of the idea
SELL
Should be considered
if organization would
have to develop
infrastructure
A good alternative if
idea does not match
core competencies
Avoid confusion
regarding services
provided to client and
project objectives
Organization decreases
its risk if innovation
proposal is not
successful
19
20 QUESTIONSTO COMMERCIALIZATION
The questionnaire asks 20 yes/
no questions, the answers to
which feed an algorithm which
generates a graph which shows
the comparative amplitude of
each commercialization option,
and then the individual strength
of each commercialization option.
20
20 QUESTIONS BACKGROUND
1. Complimentary assets – Assets, infrastructure or capabilities needed to support the successful commercialization
and marketing of a technological innovation, other than those assets fundamentally associated with that innovation.
2. Inherent assets - Assets that are existing as a permanent, essential, or have characteristic attributes to the
organization
3. Core competencies – Features of Resource Interactive, or their employees, that are vital to the way the organization
operates. - digital consumers (example)
5. Innate culture - Inherent in the essential character of a business that is a set of shared attitudes, values, goals, and
practices
6. Risk - The potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable
outcome). The notion implies that a choice having an influence on the outcome exists (or existed).
7. Confusion - The inability to think with your usual speed or clarity, including feeling disoriented and having difficulty
paying attention, remembering, and making decisions.
8. Control - To exercise authoritative or dominating influence over
9. Secrecy - Concealing information from certain individuals or groups, perhaps while sharing it with other individuals.
9. Proprietary information - Information that is sensitive, which is owned by a company and provides advantages over
the competition
10. Systems - A set of detailed methods, procedures, and routines established or formulated to carry out a specific
activity, perform a duty, or solve a problem.
10. Hierarchy - Is an organizational structure where every entity in the organization, except one, is subordinate to a
single other entity
21
20 QUESTIONS BACKGROUND
11. Speed to Market- This means, it is important to introduce your product in the market as fast as possible. The reason
is stiff competition, globalization and access of technology to all competitors. The idea of new product penetrates the
market rapidly. Therefore, first company to hit the market is likely to capitalize the virginity of market.
12. ProvenTechnology- technology that has already been marketed and proven to work.
13. ConsumerTastes- are the tastes of intended consumers for this product likely to vary in the near future?
14. Strong Substitutes- are there products already being marketed that would be a strong substitute/competition for
this products?
15. Incremental Innovation- one that leads to small improvements to existing products and business processes
or involves modest technological changes on existing products and the existing products on the market will remain
competitive.
16. Customer Base Needs- would the innovation exceed the needs of the intended customer base?
17. Branding- would the innovation need to be branded in order to be successful?
18. Market Space- is the innovation outside of retail, technology or packaged goods?
19. Intended Investment- has it been determined that Resource looks to spend as little money as possible developing
this idea?
20. Infrastructure- would this innovation require the development of an new infrastructure (organizational structure,
including facilities, services or ways of conducting business)?
22
20 QUESTIONS BACKGROUND
 
Question 1&2 – An organization needs to identify and understand the assets that are already integrated into the business. An
innovation idea that mirrors skills previously existent within the company will be more likely to succeed as the organization can rely
upon these talents and not need to invest in outside resources. However, if the organization does not have a high historical aptitude in
this area they will need to increase their investment, which will also increase the risk associated with the innovation idea.
 
Question 3 & 4, 18 - The need for a company to compare its inherent core competencies to the innovation proposal is essential
because it helps determines if the organization already has established knowledge in the area it is looking to compete. If the
organization already has proven methods for competing in this industry, it will be able to support the innovation idea as it can it rely
on its historical practices. However, if the organization does not have core competencies in the identified field the innovation could
struggle to in understanding the industry and how to best achieve success. The organization will have no ‘frame of reference’ to
determine its strategy or be able to seek competitive advantages.
 
Question 5, 10 & 20 – A solid understanding of the innate culture is necessary for determining how well the innovation proposal
will fit within the organization. If a new project does not match already established ways of thinking, it will not provide the necessary
fertility for the idea to blossom into a profitable business venture. Employees should be able to understand how the idea matches
other processes or practices already being produced by the company.
 
Question 6 – Understanding the level of risk involved in the innovation proposal will help management determine how much
investment is necessary. An organization must realize up-front the amount of risk it is willing to assume. Failure to understand the risk
quotient could lead to underestimating the amount of cash necessary to fully fund idea that would result in a loss for the organization.
 
Question 7 – An organization must determine if the innovation idea would confuse its core customer base. If its core customers
would not understand the concept, or worse be insulted by it, then the organization should consider alternative strategies than
internally developing this product. By understanding how the concept relates to its core customer base allow the company to
determine what it is they are looking to obtain from producing the innovation proposal.
 
Question 8 – At the initial stage of the innovation production process, the organization must consider how much ownership and
direction it wishes to demonstrate in creating the idea. This will also allow the company to determine the amount of risk it is willing to
undertake.
 
Question 9 – The organization must acknowledge how secretive its innovation proposal is.
23
20 QUESTIONS BACKGROUND
IDEAS
MARKET
Technical/Operational
Opportunity Creation Strategic Fit Opportunity Assessment
Proof of Concept Strategic Analysis
& Choice
Feasibility & Business
Planning
Market Readiness Market Pathways Implementation Plan
Strategy Commercial
24
IMPORTANCE OF CULTURE
As Resource Interactive grows in size, retaining a strong
entrepreneurial and innovative culture will become more
difficult.
Characteristics of a Strong Culture:
1.	Clear philosophy about how business is to be conducted
2.	Considerable time spent communicating values and beliefs
3.	Explicit statements made that describe organizational values
4.	Set of values and norms exist that are shared widely and rooted deeply
5.	New employees are screened carefully to ensure cultural fit
The use of slogans, symbols, ceremonies and statements
of principle can be all be utilized in order to ensure the
sustainability of a strong organizational culture.
25
HOWTOP COMPANIES SUPPORT INNOVATION
3M
MICROSOFT
GE
NOKIA
Scientists inside the company apply independently for “Genius Grants” that give
them generous budgets for funding the development of new products.
Each year, “Hack Day” is held in which software developers are pulled from
their routines, coming together for a fun event that relieves pressure and
hopefully inspires creativity.
Among more traditional bases for evaluation, GE’s 5,000 top managers are rated
on innovation-related themes such as “imagination and courage.”
Nokia rewards engineers who have at least 10 patents by inducting them into its
prestigious “Club 10.”
26
INNOVATION SYSTEM
Efficiency
Communication
Coordination
Learning
Alignment
Efficiency-
Standardized processes that bring prospective ideas
from concept to commercialization
Communication-
Platform that allows employees to interact with each
other and external partners, promoting collaboration
and continuous learning
Coordination-
Promotion of cross-functional teams and partnerships
in order to utilize respective talents
Learning-
Continuous commentary and feedback for all
submissions
Alignment-
Integration of executive guidance through executive
strike zone concept to ensure the business case pro-
posals adhere to company strategy
27
CONNECTING INNOVATION CHANNELS
INDIVIDUAL
SUBMISSION
Provides opportunity for employees
passionate about their ideas to
continue to strive for possible
implementation and receive valuable
feedback
EXECUTIVE
STRIKE ZONE
Leadership of the
organization is dynamically
involved in the projects, thus
ensuring that innovation and
ideation is an organization
priority.
COUNCIL
EVALUATION
Provides opportunity
for organization to meet
and discuss ideas that
would provide the use of
company’s resources to
pursue corporate initiatives
28
EXECUTIVE STRIKE ZONE
Proposal Strike
Zone
RISK
REWARD
•	 Specific areas of focus
that have strategic
objectives for the
business that employees
can concentrate on
ideation
•	 Each employee must
choose to submit one
proposal directly from
the specific topics
provided by executive
management
•	 Tied back to employee
reviews – incentives
29
HOWTO MEASURE INNOVATION
PROCESSINPUT OUTPUT OUTCOME
Resources
devoted to
innovation.
Real-time
measures
tracking progress
toward creation
of outputs
Results of
innovation effort
Value Creation
Describes
quality,
quantity and
timeliness
30
INNOVATION HEAT INDEX
1
2
3
4
5
6
7
8
9
10
FINANCE
1. Business Model- What is the project’s
value proposition (how the innovation
makes money)?
2. Networking- Do the project’s value chain
& partners make this offering distinctive?
PROCESS
3. Enabling Process- Does this innovation
assemble capabilities typically bought from
others?
4. Core Processes- Does this innovation
create proprietary processes that add value?
OFFERING
5. Product Performance- Does the innovation
offer valuable features and functionality?
6. Product System- Is there an extended
system surrounding the offering?
7. Service- Does this innovation service its
customers?
DELIVERY
8. Channel- Is there a strong, clear
connection of the customer to the offering?
9. Customer Experience- Is there an
integrated experience?
10. Brand- Is the innovation’s value properly
expressed to customer?
INCREMENTAL
ECONOMIC VALUE
(THE SUM OF THE INCREASED
REVENUE OR DECREASED
COSTS ASSOCIATED WITH
EACH INNOVATION TYPE)
REFERENCE VALUE
(WHAT CUSTOMERS PAY FOR
THE NEXT-BEST
ALTERNATIVE)
IEV ÷ RV = EVE FACTOR31
INNOVATION HEAT INDEX
FIRST,TAKEYOUR IDEA’S AMBIENTTEMPERATURE:
To find out if your idea is hot enough, consider how it is kindled. Each flame represents one
of the Ten Types of Innovation, developed by Doblin (a part of Monitor Group) on the basis of
research with hundreds of companies. The more ways in which your idea is innovative, the
better able it is to stand up to competitors’ offerings. According to our research, ideas that
innovation six or more areas are well positioned for success. Fewer than three types and your
idea is cold: Chances are, it’s not distinct enough from products already on the market. Most
companies focus their innovations on product offerings, but you’ll get more heat from ideas
that also innovate new business models and customer experiences.
NEXT, MEASUREYOUR IDEA’S HEAT INDEX.
So your idea is hot, but will it deliver measurable value to customers? Doblin and Monitor have
developed a simplified version of the pricing tool Economic Value Estimation (EVE) to calculate,
by innovation type, how much increased value your idea offers over what’s already available.
Interpreting the EVE factor depends on the industry. A hot number in a B2B business could be
as low as 1.5, whereas in a CPG context, where brand matters so much, the number will most
likely need to be much higher, say 3 to 5. Anything below 1.1 would be cold, and anything less
than 0.75 would be a nonstarter.
32
NEXT STEPS
Pilot: Test with Distributed Commerce Platform
Feedback: Important to Continue Culture of Ideation
Catalog of Ideas: Portfolio Analysis Used for Quick
Reference to Past Ideas
33
DISCUSSION
34

Contenu connexe

Tendances

Innovation the classic traps v3
Innovation the classic traps v3Innovation the classic traps v3
Innovation the classic traps v3Jenny Craig
 
Innovation: the classic traps
Innovation: the classic trapsInnovation: the classic traps
Innovation: the classic trapsWei Li
 
Organizing For Innovation & Growth
Organizing For Innovation & GrowthOrganizing For Innovation & Growth
Organizing For Innovation & GrowthDr. Marc Sniukas
 
The Process of Innovation
The Process of InnovationThe Process of Innovation
The Process of InnovationJoel Wenger
 
Innovation management case study
Innovation management   case studyInnovation management   case study
Innovation management case studyHassan Saif
 
Unleashing innovation across the value chain
Unleashing innovation across the value chainUnleashing innovation across the value chain
Unleashing innovation across the value chainGuneet Gyani
 
Ideation Preso Final (Eccix + Results)
Ideation Preso Final (Eccix + Results)Ideation Preso Final (Eccix + Results)
Ideation Preso Final (Eccix + Results)Daniel P. Phillips
 
Innovation models
Innovation  modelsInnovation  models
Innovation modelsZiya-B
 
How companies turn customers big ideas into innovations
How companies turn customers big ideas into innovationsHow companies turn customers big ideas into innovations
How companies turn customers big ideas into innovationsLa innovation Kitchen
 
Mastering the Dynamics of Innovation
Mastering the Dynamics of InnovationMastering the Dynamics of Innovation
Mastering the Dynamics of InnovationAnders Rygh
 
University of California, Berkeley Technology Transfer and IP Commercialization
University of California, Berkeley Technology Transfer and IP CommercializationUniversity of California, Berkeley Technology Transfer and IP Commercialization
University of California, Berkeley Technology Transfer and IP CommercializationOphelia Yeung
 
25 ways to reinvent your business sniukas
25 ways to reinvent your business sniukas25 ways to reinvent your business sniukas
25 ways to reinvent your business sniukasDr. Marc Sniukas
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation ManagementJamil AlKhatib
 
2011 kbs+ Ventures Annual Report
2011 kbs+ Ventures Annual Report2011 kbs+ Ventures Annual Report
2011 kbs+ Ventures Annual ReportTaylor Davidson
 
Design for Innovation (D4I) Framework for Strategic Business Development
Design for Innovation (D4I) Framework for Strategic Business DevelopmentDesign for Innovation (D4I) Framework for Strategic Business Development
Design for Innovation (D4I) Framework for Strategic Business DevelopmentIain Sanders
 
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mobilskole AS
 
201308 Deloitte Tech Trends 2013 - Elements of Post Digital.pdf
201308 Deloitte   Tech Trends 2013 - Elements of Post Digital.pdf 201308 Deloitte   Tech Trends 2013 - Elements of Post Digital.pdf
201308 Deloitte Tech Trends 2013 - Elements of Post Digital.pdf Francisco Calzado
 
#RIS3 Know in target: Marian García
#RIS3 Know in target: Marian García#RIS3 Know in target: Marian García
#RIS3 Know in target: Marian GarcíaAgencia IDEA
 
Technology Commercialization and Transfer
Technology Commercialization and TransferTechnology Commercialization and Transfer
Technology Commercialization and TransferJhon Lantaca
 

Tendances (20)

Innovation the classic traps v3
Innovation the classic traps v3Innovation the classic traps v3
Innovation the classic traps v3
 
Innovation: the classic traps
Innovation: the classic trapsInnovation: the classic traps
Innovation: the classic traps
 
Organizing For Innovation & Growth
Organizing For Innovation & GrowthOrganizing For Innovation & Growth
Organizing For Innovation & Growth
 
The Process of Innovation
The Process of InnovationThe Process of Innovation
The Process of Innovation
 
Innovation management case study
Innovation management   case studyInnovation management   case study
Innovation management case study
 
Unleashing innovation across the value chain
Unleashing innovation across the value chainUnleashing innovation across the value chain
Unleashing innovation across the value chain
 
Ideation Preso Final (Eccix + Results)
Ideation Preso Final (Eccix + Results)Ideation Preso Final (Eccix + Results)
Ideation Preso Final (Eccix + Results)
 
Innovation models
Innovation  modelsInnovation  models
Innovation models
 
How companies turn customers big ideas into innovations
How companies turn customers big ideas into innovationsHow companies turn customers big ideas into innovations
How companies turn customers big ideas into innovations
 
Mastering the Dynamics of Innovation
Mastering the Dynamics of InnovationMastering the Dynamics of Innovation
Mastering the Dynamics of Innovation
 
University of California, Berkeley Technology Transfer and IP Commercialization
University of California, Berkeley Technology Transfer and IP CommercializationUniversity of California, Berkeley Technology Transfer and IP Commercialization
University of California, Berkeley Technology Transfer and IP Commercialization
 
MSIG Innovation
MSIG InnovationMSIG Innovation
MSIG Innovation
 
25 ways to reinvent your business sniukas
25 ways to reinvent your business sniukas25 ways to reinvent your business sniukas
25 ways to reinvent your business sniukas
 
Technology and Innovation Management
Technology and Innovation ManagementTechnology and Innovation Management
Technology and Innovation Management
 
2011 kbs+ Ventures Annual Report
2011 kbs+ Ventures Annual Report2011 kbs+ Ventures Annual Report
2011 kbs+ Ventures Annual Report
 
Design for Innovation (D4I) Framework for Strategic Business Development
Design for Innovation (D4I) Framework for Strategic Business DevelopmentDesign for Innovation (D4I) Framework for Strategic Business Development
Design for Innovation (D4I) Framework for Strategic Business Development
 
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...
 
201308 Deloitte Tech Trends 2013 - Elements of Post Digital.pdf
201308 Deloitte   Tech Trends 2013 - Elements of Post Digital.pdf 201308 Deloitte   Tech Trends 2013 - Elements of Post Digital.pdf
201308 Deloitte Tech Trends 2013 - Elements of Post Digital.pdf
 
#RIS3 Know in target: Marian García
#RIS3 Know in target: Marian García#RIS3 Know in target: Marian García
#RIS3 Know in target: Marian García
 
Technology Commercialization and Transfer
Technology Commercialization and TransferTechnology Commercialization and Transfer
Technology Commercialization and Transfer
 

Similaire à Resource Innovation Brief Presentation

Seven Ways Traditional Companies Can Succeed with Disruptive Innovation
Seven Ways Traditional Companies Can Succeed with Disruptive InnovationSeven Ways Traditional Companies Can Succeed with Disruptive Innovation
Seven Ways Traditional Companies Can Succeed with Disruptive InnovationCognizant
 
L 8 growth accelerators, vrio analysis
L 8 growth accelerators, vrio analysisL 8 growth accelerators, vrio analysis
L 8 growth accelerators, vrio analysisSudhir Upadhyay
 
12 Managing Innovation and Fostering Corporate Entrep.docx
 12 Managing Innovation and Fostering Corporate Entrep.docx 12 Managing Innovation and Fostering Corporate Entrep.docx
12 Managing Innovation and Fostering Corporate Entrep.docxjoyjonna282
 
Analysis HP Kittyhawk
Analysis HP KittyhawkAnalysis HP Kittyhawk
Analysis HP KittyhawkMisty Gordon
 
Innovation_Audit_-_First_Feedback_from_SMEs_V3
Innovation_Audit_-_First_Feedback_from_SMEs_V3Innovation_Audit_-_First_Feedback_from_SMEs_V3
Innovation_Audit_-_First_Feedback_from_SMEs_V3Linas Eriksonas
 
Sample Bright Spots Report
Sample Bright Spots ReportSample Bright Spots Report
Sample Bright Spots ReportBryan Cassady
 
Entrepreneurship class 2
Entrepreneurship class 2Entrepreneurship class 2
Entrepreneurship class 2andrewmaxwell
 
UM MBA program: The Innovators Dilemma
UM MBA program: The Innovators DilemmaUM MBA program: The Innovators Dilemma
UM MBA program: The Innovators DilemmaWilliam J. Brown
 
How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...Toby Farren
 
The Core Of The Business Performance Evaluation System
The Core Of The Business Performance Evaluation SystemThe Core Of The Business Performance Evaluation System
The Core Of The Business Performance Evaluation SystemJosephine Romero
 
Business agility imperatives smarter solutions-transformation-icty 2011-1
Business agility imperatives smarter solutions-transformation-icty 2011-1Business agility imperatives smarter solutions-transformation-icty 2011-1
Business agility imperatives smarter solutions-transformation-icty 2011-1zslmarketing
 
2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn WintrichNUI Galway
 
Innovation Management.pptx
Innovation Management.pptxInnovation Management.pptx
Innovation Management.pptxEugenia Leonova
 
190429 open innovation framework
190429 open innovation framework190429 open innovation framework
190429 open innovation frameworkDaniele Pes
 
Introduction to Management of Technology
Introduction to Management of TechnologyIntroduction to Management of Technology
Introduction to Management of TechnologyTarek Salah
 

Similaire à Resource Innovation Brief Presentation (20)

Seven Ways Traditional Companies Can Succeed with Disruptive Innovation
Seven Ways Traditional Companies Can Succeed with Disruptive InnovationSeven Ways Traditional Companies Can Succeed with Disruptive Innovation
Seven Ways Traditional Companies Can Succeed with Disruptive Innovation
 
DSA Presentation 2
DSA Presentation 2DSA Presentation 2
DSA Presentation 2
 
L 8 growth accelerators, vrio analysis
L 8 growth accelerators, vrio analysisL 8 growth accelerators, vrio analysis
L 8 growth accelerators, vrio analysis
 
12 Managing Innovation and Fostering Corporate Entrep.docx
 12 Managing Innovation and Fostering Corporate Entrep.docx 12 Managing Innovation and Fostering Corporate Entrep.docx
12 Managing Innovation and Fostering Corporate Entrep.docx
 
Analysis HP Kittyhawk
Analysis HP KittyhawkAnalysis HP Kittyhawk
Analysis HP Kittyhawk
 
Lesson 2 part 1
Lesson 2 part 1Lesson 2 part 1
Lesson 2 part 1
 
Innovation_Audit_-_First_Feedback_from_SMEs_V3
Innovation_Audit_-_First_Feedback_from_SMEs_V3Innovation_Audit_-_First_Feedback_from_SMEs_V3
Innovation_Audit_-_First_Feedback_from_SMEs_V3
 
Managing disruptive innovation
Managing disruptive innovationManaging disruptive innovation
Managing disruptive innovation
 
Sample Bright Spots Report
Sample Bright Spots ReportSample Bright Spots Report
Sample Bright Spots Report
 
Entrepreneurship class 2
Entrepreneurship class 2Entrepreneurship class 2
Entrepreneurship class 2
 
UM MBA program: The Innovators Dilemma
UM MBA program: The Innovators DilemmaUM MBA program: The Innovators Dilemma
UM MBA program: The Innovators Dilemma
 
Inno centive
Inno centiveInno centive
Inno centive
 
How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...
 
The Core Of The Business Performance Evaluation System
The Core Of The Business Performance Evaluation SystemThe Core Of The Business Performance Evaluation System
The Core Of The Business Performance Evaluation System
 
Business agility imperatives smarter solutions-transformation-icty 2011-1
Business agility imperatives smarter solutions-transformation-icty 2011-1Business agility imperatives smarter solutions-transformation-icty 2011-1
Business agility imperatives smarter solutions-transformation-icty 2011-1
 
2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich
 
Innovation Management.pptx
Innovation Management.pptxInnovation Management.pptx
Innovation Management.pptx
 
190429 open innovation framework
190429 open innovation framework190429 open innovation framework
190429 open innovation framework
 
Presentation3
Presentation3Presentation3
Presentation3
 
Introduction to Management of Technology
Introduction to Management of TechnologyIntroduction to Management of Technology
Introduction to Management of Technology
 

Plus de Shay-Jahen Merritté

Improving DSW's QR Code Implementation, marketing
Improving DSW's QR Code Implementation, marketingImproving DSW's QR Code Implementation, marketing
Improving DSW's QR Code Implementation, marketingShay-Jahen Merritté
 
Foursquare and Seven Years Ago is Awesome
Foursquare and Seven Years Ago is AwesomeFoursquare and Seven Years Ago is Awesome
Foursquare and Seven Years Ago is AwesomeShay-Jahen Merritté
 
The North Face Case Competition Presentation
The North Face Case Competition PresentationThe North Face Case Competition Presentation
The North Face Case Competition PresentationShay-Jahen Merritté
 
National black mba conference presentation
National black mba conference presentationNational black mba conference presentation
National black mba conference presentationShay-Jahen Merritté
 
Procter & gamble case competition slides
Procter & gamble case competition slidesProcter & gamble case competition slides
Procter & gamble case competition slidesShay-Jahen Merritté
 
Sirius Corporate Innovation Project
Sirius Corporate Innovation ProjectSirius Corporate Innovation Project
Sirius Corporate Innovation ProjectShay-Jahen Merritté
 
India's Rural Credit Cooperatives Presentation
India's Rural Credit Cooperatives PresentationIndia's Rural Credit Cooperatives Presentation
India's Rural Credit Cooperatives PresentationShay-Jahen Merritté
 

Plus de Shay-Jahen Merritté (20)

New language
New languageNew language
New language
 
New Media Survey White Paper 2012
New Media Survey White Paper 2012New Media Survey White Paper 2012
New Media Survey White Paper 2012
 
Qr Code Whitepaper
Qr Code WhitepaperQr Code Whitepaper
Qr Code Whitepaper
 
Apps White Papers
Apps White PapersApps White Papers
Apps White Papers
 
State of Smart TV
State of Smart TVState of Smart TV
State of Smart TV
 
Improving DSW's QR Code Implementation, marketing
Improving DSW's QR Code Implementation, marketingImproving DSW's QR Code Implementation, marketing
Improving DSW's QR Code Implementation, marketing
 
Foursquare and Seven Years Ago is Awesome
Foursquare and Seven Years Ago is AwesomeFoursquare and Seven Years Ago is Awesome
Foursquare and Seven Years Ago is Awesome
 
The North Face Case Competition Presentation
The North Face Case Competition PresentationThe North Face Case Competition Presentation
The North Face Case Competition Presentation
 
Spotify presentation
 Spotify presentation Spotify presentation
Spotify presentation
 
Design Strategy Major Book
Design Strategy Major BookDesign Strategy Major Book
Design Strategy Major Book
 
HVAC3 Leadership Model
HVAC3 Leadership ModelHVAC3 Leadership Model
HVAC3 Leadership Model
 
Green Center Process Book
Green Center Process BookGreen Center Process Book
Green Center Process Book
 
Sweatervest Supplement
Sweatervest SupplementSweatervest Supplement
Sweatervest Supplement
 
National black mba conference presentation
National black mba conference presentationNational black mba conference presentation
National black mba conference presentation
 
Procter & gamble case competition slides
Procter & gamble case competition slidesProcter & gamble case competition slides
Procter & gamble case competition slides
 
Sirius Corporate Innovation Project
Sirius Corporate Innovation ProjectSirius Corporate Innovation Project
Sirius Corporate Innovation Project
 
Glock 17 Innovation Project
Glock 17 Innovation ProjectGlock 17 Innovation Project
Glock 17 Innovation Project
 
Aviary innovation project
Aviary innovation projectAviary innovation project
Aviary innovation project
 
Final innovation project v5
Final innovation project v5Final innovation project v5
Final innovation project v5
 
India's Rural Credit Cooperatives Presentation
India's Rural Credit Cooperatives PresentationIndia's Rural Credit Cooperatives Presentation
India's Rural Credit Cooperatives Presentation
 

Dernier

14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdfEni
 
Pitch Deck Teardown: SuperScale's $5.4M Series A deck
Pitch Deck Teardown: SuperScale's $5.4M Series A deckPitch Deck Teardown: SuperScale's $5.4M Series A deck
Pitch Deck Teardown: SuperScale's $5.4M Series A deckHajeJanKamps
 
unfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandunfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandakashm530190
 
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...BilalAhmed717
 
10 Tips for Great Teams CSUN Conference 2024
10 Tips for Great Teams CSUN Conference 202410 Tips for Great Teams CSUN Conference 2024
10 Tips for Great Teams CSUN Conference 2024Nate Evans
 
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference
 
Mist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi ArabiaMist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi Arabiaopstechsanjanasingh
 
Importance of Commercial Vehicle Insurance.pptx
Importance of Commercial Vehicle Insurance.pptxImportance of Commercial Vehicle Insurance.pptx
Importance of Commercial Vehicle Insurance.pptxBonano Insurance
 
Young Woman Entrepreneur - Kaviya Cherian
Young Woman Entrepreneur - Kaviya CherianYoung Woman Entrepreneur - Kaviya Cherian
Young Woman Entrepreneur - Kaviya CherianCDEEPANVITA
 
Record of Module Forensic photography in
Record of Module Forensic photography inRecord of Module Forensic photography in
Record of Module Forensic photography inalexademileighpacal
 
Business Models and Business Model Innovation
Business Models and Business Model InnovationBusiness Models and Business Model Innovation
Business Models and Business Model InnovationMichal Hron
 
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptxStreamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptxPaulBryant58
 
PHX Corporate Presentation March 2024 Final
PHX Corporate Presentation March 2024 FinalPHX Corporate Presentation March 2024 Final
PHX Corporate Presentation March 2024 FinalPanhandleOilandGas
 
A Comprehensive Case Study on the IL&FS Crisis (final).pptx
A Comprehensive Case Study on the IL&FS Crisis (final).pptxA Comprehensive Case Study on the IL&FS Crisis (final).pptx
A Comprehensive Case Study on the IL&FS Crisis (final).pptxShainaMaheshwari1
 
The 10 Most Influential Women Making Difference In 2024.pdf
The 10 Most Influential Women Making Difference In 2024.pdfThe 10 Most Influential Women Making Difference In 2024.pdf
The 10 Most Influential Women Making Difference In 2024.pdfInsightsSuccess4
 
Wallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loanWallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loansujat8807
 
"InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age""InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age"Adharsh45
 
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAYLouis Malaybalay
 
HOW TO START EARNING WITH AFFILIATE MARKETING
HOW TO START EARNING WITH AFFILIATE MARKETINGHOW TO START EARNING WITH AFFILIATE MARKETING
HOW TO START EARNING WITH AFFILIATE MARKETINGNATHAN SPEAKS
 

Dernier (20)

14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf14 march 2024-capital-markets-update eni.pdf
14 march 2024-capital-markets-update eni.pdf
 
Pitch Deck Teardown: SuperScale's $5.4M Series A deck
Pitch Deck Teardown: SuperScale's $5.4M Series A deckPitch Deck Teardown: SuperScale's $5.4M Series A deck
Pitch Deck Teardown: SuperScale's $5.4M Series A deck
 
unfinished legacy it is a clothing brand
unfinished legacy it is a clothing brandunfinished legacy it is a clothing brand
unfinished legacy it is a clothing brand
 
WAM Corporate Presentation Mar 12 2024.pdf
WAM Corporate Presentation Mar 12 2024.pdfWAM Corporate Presentation Mar 12 2024.pdf
WAM Corporate Presentation Mar 12 2024.pdf
 
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
 
10 Tips for Great Teams CSUN Conference 2024
10 Tips for Great Teams CSUN Conference 202410 Tips for Great Teams CSUN Conference 2024
10 Tips for Great Teams CSUN Conference 2024
 
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
CXO 2.0 Conference (Event Information Deck | Dec'24-Mar'25)
 
Mist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi ArabiaMist Cooling & Fogging System Company in Saudi Arabia
Mist Cooling & Fogging System Company in Saudi Arabia
 
Importance of Commercial Vehicle Insurance.pptx
Importance of Commercial Vehicle Insurance.pptxImportance of Commercial Vehicle Insurance.pptx
Importance of Commercial Vehicle Insurance.pptx
 
Young Woman Entrepreneur - Kaviya Cherian
Young Woman Entrepreneur - Kaviya CherianYoung Woman Entrepreneur - Kaviya Cherian
Young Woman Entrepreneur - Kaviya Cherian
 
Record of Module Forensic photography in
Record of Module Forensic photography inRecord of Module Forensic photography in
Record of Module Forensic photography in
 
Business Models and Business Model Innovation
Business Models and Business Model InnovationBusiness Models and Business Model Innovation
Business Models and Business Model Innovation
 
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptxStreamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
Streamlining Your Accounting A Guide to QuickBooks Migration Tools.pptx
 
PHX Corporate Presentation March 2024 Final
PHX Corporate Presentation March 2024 FinalPHX Corporate Presentation March 2024 Final
PHX Corporate Presentation March 2024 Final
 
A Comprehensive Case Study on the IL&FS Crisis (final).pptx
A Comprehensive Case Study on the IL&FS Crisis (final).pptxA Comprehensive Case Study on the IL&FS Crisis (final).pptx
A Comprehensive Case Study on the IL&FS Crisis (final).pptx
 
The 10 Most Influential Women Making Difference In 2024.pdf
The 10 Most Influential Women Making Difference In 2024.pdfThe 10 Most Influential Women Making Difference In 2024.pdf
The 10 Most Influential Women Making Difference In 2024.pdf
 
Wallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loanWallet Pitch for startup fintech and loan
Wallet Pitch for startup fintech and loan
 
"InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age""InShorts: A Game-Changer in the Digital News Age"
"InShorts: A Game-Changer in the Digital News Age"
 
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
3BBE: THE FUTURE OF ECOMMERCE PRESENTATION - LOUIS MALAYBALAY
 
HOW TO START EARNING WITH AFFILIATE MARKETING
HOW TO START EARNING WITH AFFILIATE MARKETINGHOW TO START EARNING WITH AFFILIATE MARKETING
HOW TO START EARNING WITH AFFILIATE MARKETING
 

Resource Innovation Brief Presentation

  • 1. BY Shay Merritté Erin Keeler Andy Ireton Shawn White UNDER Prof. Michael Lieblein Prof. Michael Bills FOR BUS MHR 894.60 Innovation Field Studies Fisher College of Business, The Ohio State University JUNE 7 2011
  • 2. OUTLINE - PROBLEM DEFINITION - INNOVATION OVERVIEW - INTRODUCTION TO RIBS - INTRODUCTION TO 20 Q - FURTHER RESEARCH
  • 3. PROBLEM STATEMENT Create the underlying structure for an Innovation Brief that captures the development criteria, business case and commercialization aspects of a proposed innovation. The brief should be able to be easily evaluated by an executive council for funding and further development in relation to Resource Interactive’s core competencies and business objectives.  3
  • 5. DELIVERABLES Resource Innovation Brief 1: Is this a valuable idea? A 3-Piece Toolkit5
  • 6. DELIVERABLES Resource Innovation Brief 2: What is the value of this idea? A 3-Piece Toolkit6
  • 7. DELIVERABLES Twenty Questions: How can the ideas value be captured? A 3-Piece Toolkit7
  • 8. A 3-Piece Toolkit DELIVERABLES TakenTogether: A way to capture the development criteria, business case and commercialization aspects of a proposed innovation 8
  • 9. STAGE-GATING IMPLEMENTATION Stage #1 Stage #2 Stage #3 Gate #1 Gate #2 Resource Interactive employees populate RIB #1. Executive Director of RI Labs reviews RIB #1 and selects ideas with merit and provides feedback. Innovation Council Reviews RIB #2 and selects projects to move forward to fund and possibly commercialize. Innovation Council completes the 20Q questionnaire to determine the best strategic decision moving forward. RI employees who developed a meritorious RIB #1 refine the concept through RIB #2. 9
  • 10. PHASES OF INNOVATION PHASE 1 VALUE CREATION PHASE 3 VALUE DELIVERY PHASE 2 VALUE CAPTURE How will consumer needs & technological solutions evolve? What is the central source of innovative advantage? How can we best protect this advantage? How is this advantage affected by change What projects should we fund? How should we organize to support innovation within the firm? What work should we do inside and what should we outsource? 10
  • 11. PHASES OF INNOVATION PHASE 1 VALUE CREATION PHASE 3 VALUE DELIVERY PHASE 2 VALUE CAPTURE How will consumer needs & technological solutions evolve? What is the central source of innovative advantage? How can we best protect this advantage? How is this advantage affected by change What projects should we fund? How should we organize to support innovation within the firm? What work should we do inside and what should we outsource? 11
  • 12. CORPORATE INNOVATION OPPORTUNITY Macro Socio-Political FORESIGHTS Consumer/Customer INSIGHTS Technological & Scientific CAPABILITIES BUSINESS CASE CORPORATE INNOVATION OPPORTUNITY 12
  • 13. RESOURCE INNOVATION BRIEF (RIB) 1 SubmiSSionDate:innovation#: microSummaarycLientbenefitDigitaLSpaceiDeaname pointperoSn: commraDeS: front How? mobiLe facebook commerce in-Store twitter ipaD 1 otHerpartnerorganizationS cLientSrv. tecHn. creative SocStrat XDD partnerDiScipLineS contract/LicenSe internaLDev. partnerSeLL Spin-off commerciaLization proceSS Captures an idea, is it appropriate for Resource? 13
  • 14. PORTFOLIO ANALYSIS New Product/ Market RadicalNextGenerationImprovementIncrementalChange Next Customer Better Service: Existing Customers Market Impact BREAKTHROUGH NEXT GENERATION PLATFORM DISRUPTIVE INNOVATION ENHANCEMENTS HYBRIDS & DERIVATIVES TechnologicalChange Enhance Current Products 14
  • 15. RESOURCE INNOVATION BRIEF (RIB) 2 SubmiSSionDate:innovation#: WhatiStheproject’SvaluepropoSition(Whatvalue/benefitSDoeSitDelivertoitScuStomer)? WhoiSthetargetmarket/cuStomer? WhatarecuStomerScurrentlypayingforthenextbeStalternative?WhatarethenextbeStalternativeS? hoWDoeStheinnovationfitWithinreSource’ScurrentStrategicplan? iSthetimingofthiSprojectappropriate?iSthemarketreaDy?iSthetechnologythere? pointperoSn: commraDeS: front 2 BUILDS A BUSINESS CASE FORTHE IDEA
  • 16. KEY CONSIDERATIONS FOR INNOVATION INDUSTRY • Physical Assets of the Industry • Importance of Brands • Complexity of Supply Chain • Intensity of Rivalry •Type of Innovation: Radical or Incremental • Product’s Complements • Infrastructure Necessary to Innovate Ideas • Will the Product Produce what it Promises? • Consumers Interest into the Good/Service? • Likelihood of a Substitute Product? • Amount of Investment to Commercialize Idea? INNOVATION RISK 16
  • 17. DECIDING WHATTO DO WITHTHE IDEA CONTRACT INTERNAL DEVELOPMENT SPIN-OFF SELL Less Control & Smaller Investment More Control & Greater Investment 5 DIFFERENT WAYSTO PURSUE AN IDEA • No “Black Box” exists to ensure Executive Management makes correct decisions. • Management needs to be cognizant of its own capabilities & limitations when choosing a route to pursue. 17
  • 18. OUR COMMERCIALIZATION DEFINITION COMMERCIALIZATION (k-mur’she-li-za’shen) noun Commercialization is the means by which an organization captures value by moving an idea from inception to maturity, ultimately benefiting the company’s intangible and tangible assets. 18
  • 19. EVALUATION OF MODEL AVAILABLETO RI INTERNAL DEVELOPMENT Provides the most amount of control over Project Company can utilize Complementary Assets if they relate to innovation proposal Great to use if current infrastructure already exists within organization Beneficial if organization innovation proposal mirrors Company Culture Involves high amount of Proprietary Information CONTRACT/ LICENSE Provides a certain amount of control over project and direction Company can extend beyond its Complementary Assets Does not involve same amount of investment in idea as Internal Development Consider if a great amount of Proprietary Information A better option if current infrastructure does not exist PARTNER Outsourcing to gain complementary assets Organization gives up control, but also decreases investment Good to use if there is a constant need for innovation Allows for organization to extend beyond its current customer base Allows organization to respond quickly in changing landscape SPIN-OFF Generate new business ideas in collaborative environment with RI Allow RI to focus more clearly on Core Competencies Avoid confusion regarding services provided to client and project objectives Organization avoids large spend in project that does not match what company does best Company loses control and direction of idea Company loses ownership of the idea SELL Should be considered if organization would have to develop infrastructure A good alternative if idea does not match core competencies Avoid confusion regarding services provided to client and project objectives Organization decreases its risk if innovation proposal is not successful 19
  • 20. 20 QUESTIONSTO COMMERCIALIZATION The questionnaire asks 20 yes/ no questions, the answers to which feed an algorithm which generates a graph which shows the comparative amplitude of each commercialization option, and then the individual strength of each commercialization option. 20
  • 21. 20 QUESTIONS BACKGROUND 1. Complimentary assets – Assets, infrastructure or capabilities needed to support the successful commercialization and marketing of a technological innovation, other than those assets fundamentally associated with that innovation. 2. Inherent assets - Assets that are existing as a permanent, essential, or have characteristic attributes to the organization 3. Core competencies – Features of Resource Interactive, or their employees, that are vital to the way the organization operates. - digital consumers (example) 5. Innate culture - Inherent in the essential character of a business that is a set of shared attitudes, values, goals, and practices 6. Risk - The potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion implies that a choice having an influence on the outcome exists (or existed). 7. Confusion - The inability to think with your usual speed or clarity, including feeling disoriented and having difficulty paying attention, remembering, and making decisions. 8. Control - To exercise authoritative or dominating influence over 9. Secrecy - Concealing information from certain individuals or groups, perhaps while sharing it with other individuals. 9. Proprietary information - Information that is sensitive, which is owned by a company and provides advantages over the competition 10. Systems - A set of detailed methods, procedures, and routines established or formulated to carry out a specific activity, perform a duty, or solve a problem. 10. Hierarchy - Is an organizational structure where every entity in the organization, except one, is subordinate to a single other entity 21
  • 22. 20 QUESTIONS BACKGROUND 11. Speed to Market- This means, it is important to introduce your product in the market as fast as possible. The reason is stiff competition, globalization and access of technology to all competitors. The idea of new product penetrates the market rapidly. Therefore, first company to hit the market is likely to capitalize the virginity of market. 12. ProvenTechnology- technology that has already been marketed and proven to work. 13. ConsumerTastes- are the tastes of intended consumers for this product likely to vary in the near future? 14. Strong Substitutes- are there products already being marketed that would be a strong substitute/competition for this products? 15. Incremental Innovation- one that leads to small improvements to existing products and business processes or involves modest technological changes on existing products and the existing products on the market will remain competitive. 16. Customer Base Needs- would the innovation exceed the needs of the intended customer base? 17. Branding- would the innovation need to be branded in order to be successful? 18. Market Space- is the innovation outside of retail, technology or packaged goods? 19. Intended Investment- has it been determined that Resource looks to spend as little money as possible developing this idea? 20. Infrastructure- would this innovation require the development of an new infrastructure (organizational structure, including facilities, services or ways of conducting business)? 22
  • 23. 20 QUESTIONS BACKGROUND   Question 1&2 – An organization needs to identify and understand the assets that are already integrated into the business. An innovation idea that mirrors skills previously existent within the company will be more likely to succeed as the organization can rely upon these talents and not need to invest in outside resources. However, if the organization does not have a high historical aptitude in this area they will need to increase their investment, which will also increase the risk associated with the innovation idea.   Question 3 & 4, 18 - The need for a company to compare its inherent core competencies to the innovation proposal is essential because it helps determines if the organization already has established knowledge in the area it is looking to compete. If the organization already has proven methods for competing in this industry, it will be able to support the innovation idea as it can it rely on its historical practices. However, if the organization does not have core competencies in the identified field the innovation could struggle to in understanding the industry and how to best achieve success. The organization will have no ‘frame of reference’ to determine its strategy or be able to seek competitive advantages.   Question 5, 10 & 20 – A solid understanding of the innate culture is necessary for determining how well the innovation proposal will fit within the organization. If a new project does not match already established ways of thinking, it will not provide the necessary fertility for the idea to blossom into a profitable business venture. Employees should be able to understand how the idea matches other processes or practices already being produced by the company.   Question 6 – Understanding the level of risk involved in the innovation proposal will help management determine how much investment is necessary. An organization must realize up-front the amount of risk it is willing to assume. Failure to understand the risk quotient could lead to underestimating the amount of cash necessary to fully fund idea that would result in a loss for the organization.   Question 7 – An organization must determine if the innovation idea would confuse its core customer base. If its core customers would not understand the concept, or worse be insulted by it, then the organization should consider alternative strategies than internally developing this product. By understanding how the concept relates to its core customer base allow the company to determine what it is they are looking to obtain from producing the innovation proposal.   Question 8 – At the initial stage of the innovation production process, the organization must consider how much ownership and direction it wishes to demonstrate in creating the idea. This will also allow the company to determine the amount of risk it is willing to undertake.   Question 9 – The organization must acknowledge how secretive its innovation proposal is. 23
  • 24. 20 QUESTIONS BACKGROUND IDEAS MARKET Technical/Operational Opportunity Creation Strategic Fit Opportunity Assessment Proof of Concept Strategic Analysis & Choice Feasibility & Business Planning Market Readiness Market Pathways Implementation Plan Strategy Commercial 24
  • 25. IMPORTANCE OF CULTURE As Resource Interactive grows in size, retaining a strong entrepreneurial and innovative culture will become more difficult. Characteristics of a Strong Culture: 1. Clear philosophy about how business is to be conducted 2. Considerable time spent communicating values and beliefs 3. Explicit statements made that describe organizational values 4. Set of values and norms exist that are shared widely and rooted deeply 5. New employees are screened carefully to ensure cultural fit The use of slogans, symbols, ceremonies and statements of principle can be all be utilized in order to ensure the sustainability of a strong organizational culture. 25
  • 26. HOWTOP COMPANIES SUPPORT INNOVATION 3M MICROSOFT GE NOKIA Scientists inside the company apply independently for “Genius Grants” that give them generous budgets for funding the development of new products. Each year, “Hack Day” is held in which software developers are pulled from their routines, coming together for a fun event that relieves pressure and hopefully inspires creativity. Among more traditional bases for evaluation, GE’s 5,000 top managers are rated on innovation-related themes such as “imagination and courage.” Nokia rewards engineers who have at least 10 patents by inducting them into its prestigious “Club 10.” 26
  • 27. INNOVATION SYSTEM Efficiency Communication Coordination Learning Alignment Efficiency- Standardized processes that bring prospective ideas from concept to commercialization Communication- Platform that allows employees to interact with each other and external partners, promoting collaboration and continuous learning Coordination- Promotion of cross-functional teams and partnerships in order to utilize respective talents Learning- Continuous commentary and feedback for all submissions Alignment- Integration of executive guidance through executive strike zone concept to ensure the business case pro- posals adhere to company strategy 27
  • 28. CONNECTING INNOVATION CHANNELS INDIVIDUAL SUBMISSION Provides opportunity for employees passionate about their ideas to continue to strive for possible implementation and receive valuable feedback EXECUTIVE STRIKE ZONE Leadership of the organization is dynamically involved in the projects, thus ensuring that innovation and ideation is an organization priority. COUNCIL EVALUATION Provides opportunity for organization to meet and discuss ideas that would provide the use of company’s resources to pursue corporate initiatives 28
  • 29. EXECUTIVE STRIKE ZONE Proposal Strike Zone RISK REWARD • Specific areas of focus that have strategic objectives for the business that employees can concentrate on ideation • Each employee must choose to submit one proposal directly from the specific topics provided by executive management • Tied back to employee reviews – incentives 29
  • 30. HOWTO MEASURE INNOVATION PROCESSINPUT OUTPUT OUTCOME Resources devoted to innovation. Real-time measures tracking progress toward creation of outputs Results of innovation effort Value Creation Describes quality, quantity and timeliness 30
  • 31. INNOVATION HEAT INDEX 1 2 3 4 5 6 7 8 9 10 FINANCE 1. Business Model- What is the project’s value proposition (how the innovation makes money)? 2. Networking- Do the project’s value chain & partners make this offering distinctive? PROCESS 3. Enabling Process- Does this innovation assemble capabilities typically bought from others? 4. Core Processes- Does this innovation create proprietary processes that add value? OFFERING 5. Product Performance- Does the innovation offer valuable features and functionality? 6. Product System- Is there an extended system surrounding the offering? 7. Service- Does this innovation service its customers? DELIVERY 8. Channel- Is there a strong, clear connection of the customer to the offering? 9. Customer Experience- Is there an integrated experience? 10. Brand- Is the innovation’s value properly expressed to customer? INCREMENTAL ECONOMIC VALUE (THE SUM OF THE INCREASED REVENUE OR DECREASED COSTS ASSOCIATED WITH EACH INNOVATION TYPE) REFERENCE VALUE (WHAT CUSTOMERS PAY FOR THE NEXT-BEST ALTERNATIVE) IEV ÷ RV = EVE FACTOR31
  • 32. INNOVATION HEAT INDEX FIRST,TAKEYOUR IDEA’S AMBIENTTEMPERATURE: To find out if your idea is hot enough, consider how it is kindled. Each flame represents one of the Ten Types of Innovation, developed by Doblin (a part of Monitor Group) on the basis of research with hundreds of companies. The more ways in which your idea is innovative, the better able it is to stand up to competitors’ offerings. According to our research, ideas that innovation six or more areas are well positioned for success. Fewer than three types and your idea is cold: Chances are, it’s not distinct enough from products already on the market. Most companies focus their innovations on product offerings, but you’ll get more heat from ideas that also innovate new business models and customer experiences. NEXT, MEASUREYOUR IDEA’S HEAT INDEX. So your idea is hot, but will it deliver measurable value to customers? Doblin and Monitor have developed a simplified version of the pricing tool Economic Value Estimation (EVE) to calculate, by innovation type, how much increased value your idea offers over what’s already available. Interpreting the EVE factor depends on the industry. A hot number in a B2B business could be as low as 1.5, whereas in a CPG context, where brand matters so much, the number will most likely need to be much higher, say 3 to 5. Anything below 1.1 would be cold, and anything less than 0.75 would be a nonstarter. 32
  • 33. NEXT STEPS Pilot: Test with Distributed Commerce Platform Feedback: Important to Continue Culture of Ideation Catalog of Ideas: Portfolio Analysis Used for Quick Reference to Past Ideas 33