driving innovation for profitable growth
TRANSCRIPT
Geoffrey Moore: Definition
“Any type of differentiation in your offering that drives
preference.”
Most innovations sustain a business
Sustaining Innovation: – enhances existing value propositions and products
u New design u New features u New pricing options u Adjacent segment u Improvements on current business model
u Change the game
u Create new value streams
u Can destroy others in its path
Few are truly disruptive…but can be huge
Disruption tends to be seen in hindsight
2016 Global Retailer
2016 Ecommerce & Cloud Storage
10 types of innovation: many options
Source: Ten Types of Innovation, Larry Keeley, The Doblin Group
7. Service how you service your customers
6. Product system extended system that surrounds an offering
Product performance
Offering Product system
Service
5. Product performance basic features, performance and functionality
Channel
Delivery Brand
Customer experience
10. Customer experience how you create an overall experience for customers
8. Channel how you connect your offerings to your customers
9. Brand how you express your offering’s benefit to customers
Core process
Process. Enabling process
3. Enabling process assembled capabilities
4. Core process proprietary processes that add value
Business model
Finance Networking
2. Networking enterprise’s structure/ value chain
1. Business model how the enterprise makes money
Attributes of innovators
1. Intensely customer-focused – from insight to market implementation
2. Recruit, retain and empower diverse talent 3. The executives:
1. Are aligned and determined on innovation agenda 2. Drive enablement – five model dimensions
8
Five dimensions of innovation enablement
Environment
Attitude Skills Structure
Behavior Behavior
ü Optimistic ü Solution-oriented ü Open-minded ü Embrace difference
ü Stimulating & energizing ü Flexible ü Fostering collaboration ü “Open”
ü Flat and flexible, or silos?
ü Governance ü Policies ü Processes
ü Tools and training ü Diversity in recruiting ü See new skills required ü Leadership “soft skills”
ü Non-conventional thinking ü Nurturing young ideas ü Action not talk ü Passion to build momentum ü Visual, verbal, physical signals ü Courage
Setting a foundation 2. Pursue high-impact actions: 1. Conduct self assessment:
Alignment
Readiness
Capabilities & resources
Governance & methodology