Welcome!

Kirk Froggatt Sr. Fellow and Gemini Chair in Technology Management

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Gemini Project: Building better engineers and scientists

Interpersonal, Leadership &!Team Effectiveness Skills!

Innovation & Business Model!Fundamentals!

Technical Expertise and Skills!(Absolutely necessary but not sufficient)!

Business Acumen Fundamentals!

Innovation Leadership!

Technical Expertise!

Critical Knowledge and Skills for Graduating Scientists & Engineers

Innovation leaders translate ideas or IP into customer solutions that generate economic value.

• Mindset • Tool set • Skill set • Network

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From Bench to Business: How Great Innovators Cross the Chasm from

Technical Idea to Commercial Success

The “Valley of Death”

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Does the best science or technology always win?

Not necessarily. There’s (much) more to the story of bench to business success.

We’ll explore the mindset, tool set and skill set you need to navigate the external context,

build the internal organizational capability, and collaborate in cross functional teams

in order to cross the chasm and commercialize the technology.  

The “Valley of Death”

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Individual Effectiveness

Team Effectiveness

Organization Effectiveness

Societal Contribution

The innovation imperative

Innovation leaders (versus inventors) translate science and technology into customer solutions that generate economic value

and improve the quality of life.

Win-Win Success Metrics • Sustainability & well being…….

• Profitable growth…………………….

• Productive collaboration……………..

• Personal growth…………………………...

Success Factors • Right mindset

• Right tool set

• Right skill set • Right network

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Mindset: Optimize the innovation ecosystem

Team Collaboration

Individual Effectiveness

Organizational Capability

External Environment

Success requires optimizing the innovation ecosystem across four levels of analysis: individual, team, organization and environment.

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Case study: Process and product development at Boston Scientific

Luke Christenson VP, Process Development

Tony Suardini Project Manager, Process Development

• Tell us briefly about your role and your educational background. • Tell us briefly about Boston Scientific’s products and the role you play in translating technology into customer solutions that create economic and social value.

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Navigating the external context

Team Collaboration

Individual Effectiveness

Organizational Capability

External Environment

“Don’t fight a battle if you don’t gain anything by winning.” Field Marshal Erwin Rommel

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We Are Here

Key Trends

Macroeconomic Forces

Industry Forces Market Forces

What environmental forces can make or break success?

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External context: The environmental force field

(Source: Business Model Generation by Osterwalder & Pigneur)

We Are Here

Key Trends

Macroeconomic Forces

Industry Forces Market Forces

• Technology trends • Regulatory trends • Societal & cultural trends • Socioeconomic trends

• Market segments • Needs and demands • Market issues • Switching costs • Revenue attractiveness

• Global market conditions • Capital markets • Commodities & resources • Economic infrastructure

• Suppliers • Other value chain players • Stakeholders • Competitors (Incumbents) • New entrants (Insurgents) • Substitute options

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External context: The environmental force field

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Case study: Navigating the environment

We Are Here

Key Trends

Macroeconomic Forces

Industry Forces Market Forces

• What are 2-3 external forces or trends you have to manage because of their “pivotal” impact on success?

• What strategies have made a significant difference in your success? • What new strategies are your considering as you adapt to a dynamic world?

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Building organizational capability

Team Collaboration

Individual Effectiveness

Organizational Capability

External Environment

“It’s not the technology that creates disruptive impact, it’s the right strategy and business model.”

Dr. Clayton Christensen

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What’s a business model?

Technical Inputs

Economic Outputs

Business Model

A business model is the way a company organizes and manages itself to deliver useful products and/or services for customers

and generate economic value for itself.

In The Innovator's Solution, Christensen replaced the term “disruptive technology” with the term “disruptive innovation” because he recognized that few technologies are intrinsically disruptive or sustaining in character. !

!It is the strategy or business model that creates the disruptive impact.!

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Organizational capability: The business model

(Source: Business Model Generation by Osterwalder & Pigneur)

Customers:

Who are your target customer segments?

What are pains and desired gains for each segment?

How will you get, serve, keep and grow customers?

Offer:

What differentiated solution will

address customer pains and

gains?

Infrastructure:

What core competencies must you develop yourself

to deliver your differentiation?

What partners will you need to deliver the rest?

Financials:

What revenue model and pricing structure will be attractive to customers? What cost structure will be competitive and sustainable?

Product-Market Fit

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Case study: Business model challenges

• What are the top 2-3 business model challenges you typically face and need to manage carefully to win?

• How can scientists and engineers “step up” as innovation leaders and help build strong business models?

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Collaborating and leading progress

Team Collaboration

Individual Effectiveness

Organizational Capability

External Environment

“Talent wins games, but teamwork and intelligence win championships.” Michael Jordan

Technical Expertise

Leadership Capability

+

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What role does collaboration play in innovation success?

• Better • Faster • Cheaper

Research >> Development >> NPI >> Customer Support >> CPI >> Obsolescence

Visioning

Sensemaking

Relating

Inventing

Change Signature +

Four Capabilities Leadership Framework from Deborah Ancona, MIT Leadership Center: Leadership in an Age of Uncertainty

What leadership skills distinguish the best from the rest?

not position

1

2

3 4

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Collaboration: Keys to success

Source: Patrick M. Lencioni

Deliver Results

Clarify Accountability

Build Commitment

Manage Conflict

Sustain Trust

Goals

Roles

Processes

Inclusion

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GRPI: Architecting team / alliance success

Goals

• Why is the team being formed? What is the charter and scope for this team? • What are the specific project or process improvement goals for this team? • What metrics and performance targets will we use to measure success? • To whom are we accountable for our results? Does this sponsor support our metrics and targets? • What are our key implementation milestones (deliverables with timeframes)?

Roles

• Who is needed on the team or in the alliance? • What skills or expertise and individual needs does each team member bring? What

skills or expertise are we missing? How will we compensate for missing expertise? • Who is the team leader? What do we need from him/her? • What specific roles do other team members need to fulfill? • Do we need to assign a process facilitator?

Processes

• How often do we need to meet, and how will we structure our meeting time to minimize inconvenience for all? • How will we monitor our progress and manage accountability for results? • How will we make decisions? • How will we surface and resolve conflicting points of view? • How will we keep each other informed between meetings?

Inclusion • What ground rules do we want to live by in order to optimize our effectiveness, respect each others’ contributions, and maintain trust? • How will we request and give feedback to each other and celebrate successes?

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Case study: Leadership and collaboration in action

• How have you been able to overcome these challenges?

• What words of wisdom do you have for us based on your experience?

• Who are 2-3 critical internal or external stakeholders with whom R&D has to collaborate to ensure commercial success?

• What are 2-3 key challenges you often face in these collaborations?

Visioning Sensemaking

Relating

Inventing

Change Signature

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Team Collaboration

Individual Effectiveness

Organizational Capability

External Environment

Success requires optimizing the innovation ecosystem across four levels of analysis: individual, team, organization and environment.

Summing up: The innovation imperative

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Open forum

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3 minute huddle

u  What are 2 insights you will take away from today’s discussion?

u  What will you do to translate these insights into effective action?

Working at Boston Scientific 3 Minute Sneak Preview

u  What makes Boston Scientific a uniquely great place for technical professionals to start / grow their careers?

u  What are 2-3 “differentiators” you look for when hiring college grads?

Company Logo Here

Thanks for coming!

Coming Attractions

u Thurs., March 27 Entrepreneurship or Intrapreneurship: Which is a better fit for me?

gemini.tli.umn.edu/workshops

u Thurs., February 27 (Hosted by Ecolab)

Business Process Innovation: Leveraging Lean Six Sigma to Improve Business Results

u Weds., April 23 (Hosted by Medtronic)

The Innovation Equation: Building High Performance Innovation Teams