Corporate Innovation & Digital Transformation: Innovation Portfolio
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The slides of my talk at Scrum Day Peru. Enjoy them!
Johnny OrdóñezSeguir
Corporate Innovation & Digital Transformation: Innovation Portfolio
- Corporate Innovation & Digital Transformation: Innovation Portfolio
- Husband of a great woman. | Father of two wonderful kids. Enterprise Agile Coach at Everis Latam Corporate Innovation Portfolio Specialist | Digital & Agile Transformations SAFe Program Consultant | SAFe Agilist | PMI - ACP | CSP | CSM | CSPO | CSD | Master of IT Management
- What means innovation for you?
- Between 70% and 90% of innovation projects fail. - Beth Altringer Harvard Business Review https://hbr.org/2013/11/a-new-model-for-innovation-in-big-companies
- Innovation & entrepreneurship is not about ideas. It’s about creating value and building a business around it. - Alexander Osterwalder
- Innovation is the process to transform hypotheses into solutions that add value from the customer and business perspectives.
- What is the purpose of an innovation lab?
- 90% of innovation labs fail. - Andy Howard Innovation Labs Don’t Work https://tvou.com.au/speak/innovation-labs-dont-work
- Teams focus their attention on making cool products, without thinking about the business models that underlie those products. - Tendayi Viki The Myth of the Innovation Lab, Forbes https://www.forbes.com/sites/tendayiviki/2018/04/15/the-myth-of-the-innovation-lab
- An innovation lab is a space to inspire change through exploring and discover new validated and scalable business models.
- Why does innovation fail in established organizations?
- Disconnection with the Strategy Innovation theater Corporate antibodies
- This happens when teams in innovation labs use lean startup tools without really understanding how they work. They take the canvases, sticky notes, whiteboards and bean bags, and they start thinking that they are doing innovation. Innovation theater
- When the rest of the organization perceives that innovation is exclusive to a few privileged, who believe that they are more "cool" by using new tools and have a different clothing code; so...organization reacts with resistance and with reluctant collaboration. Activate the corporate antibodies against innovation
- When the organization cannot clearly perceive the value and impact of the innovation initiative and how to drive the strategic goals; so…mistrust is generated and traditional measurement mechanisms are applied to innovation, with a tenuous leadership support. Disconnection with the Strategy
- It's needed to work with the Ecosystem, not as a startup.
- Tendayi Viki The Corporate StartUp https://thecorporatestartupbook.com/
- The Corporate StartUp Five Principles for Corporate Innovation HYPOTHESES DATA EXPERIMENTS ITERATE 1 2 3
- Innovation Strategy Five Principles for Corporate Innovation HYPOTHESES EXPERIMENTS ITERATE DATA
- Innovation Practice Five Principles for Corporate Innovation HYPOTHESES EXPERIMENTS ITERATE DATA
- Innovation Management Five Principles for Corporate Innovation HYPOTHESES EXPERIMENTS ITERATE DATA
- Scaling the Lean StartUp Learning cycle to organization Five Principles for Corporate Innovation HYPOTHESES EXPERIMENTS ITERATE DATA
- Reporting KPIs Innovation Accounting
- Governance KPIs Innovation Accounting
- Global KPIs Innovation Accounting
- A sample template to Innovation KPIs Innovation Accounting
- Five Principles for Corporate Innovation Innovation Portfolio EXPERIMENTS ITERATE DATA HYPOTHESES
- The portfolio is the glue between strategy and execution.
- Strategic Themes 1 2 3 4 Innovation Portfolio Management by Johnny Ordóñez AllIdeas SharkTank Refinement GO! EcosystemHypotheses backlog Priority Incremental Innovation Adjacent Innovation Disruptive Innovation Portfolio BalancingInnovation Initiatives Customers / Market Product building and Hypothesis validation External execution Fintechs, StartUps, Providers, Universities, other innovation labs. Business Development Operations Innovation Lab 3 months 3 months 3 months REVIEW THE MINIMUN VIABLE PRODUCTS VALIDATED LEARNING Business Model Metrics Insights Reporting KPIs DECISION POINTS CONTINUE STAND BY DISCARD DONE / VALIDATED! Products & Experiences Feedback Innovation Thesis Validation RE-BALANCE Portfolio Prioritization Portfolio Team Organization Customers/Market - + -+ Known Known Innovation Budgeting MINIMUM VIABLE STRATEGY Are we achieving our strategic goals? Are we generating the impact on our Customers, Market, and our Business? Is this meaningful innovation? GLOBAL KPIs REPORTING KPIs External ideas Ideas from the Ecosystem (Open Innovation). Execution Streams ~ 60%-70% ~ 30%-40% ~10%
- Strategic Themes 1 2 3 4 Innovation Portfolio Management by Johnny Ordóñez AllIdeas SharkTank Refinement GO! EcosystemHypotheses backlog Priority Incremental Innovation Adjacent Innovation Disruptive Innovation Portfolio BalancingInnovation Initiatives Customers / Market Product building and Hypothesis validation External execution Fintechs, StartUps, Providers, Universities, other innovation labs. Business Development Operations Innovation Lab 3 months 3 months 3 months REVIEW THE MINIMUN VIABLE PRODUCTS VALIDATED LEARNING Business Model Metrics Insights Reporting KPIs DECISION POINTS CONTINUE STAND BY DISCARD DONE / VALIDATED! Products & Experiences Feedback Innovation Thesis Validation RE-BALANCE Portfolio Prioritization Portfolio Team Organization Customers/Market - + -+ Known Known Innovation Budgeting MINIMUM VIABLE STRATEGY Are we achieving our strategic goals? Are we generating the impact on our Customers, Market, and our Business? Is this meaningful innovation? GLOBAL KPIs REPORTING KPIs External ideas Ideas from the Ecosystem (Open Innovation). Execution Streams ~ 60%-70% ~ 30%-40% ~10% Innovation Thesis
- Strategic Themes 1 2 3 4 Innovation Portfolio Management by Johnny Ordóñez AllIdeas SharkTank Refinement GO! EcosystemHypotheses backlog Priority Incremental Innovation Adjacent Innovation Disruptive Innovation Portfolio BalancingInnovation Initiatives Customers / Market Product building and Hypothesis validation External execution Fintechs, StartUps, Providers, Universities, other innovation labs. Business Development Operations Innovation Lab 3 months 3 months 3 months REVIEW THE MINIMUN VIABLE PRODUCTS VALIDATED LEARNING Business Model Metrics Insights Reporting KPIs DECISION POINTS CONTINUE STAND BY DISCARD DONE / VALIDATED! Products & Experiences Feedback Innovation Thesis Validation RE-BALANCE Portfolio Prioritization Portfolio Team Organization Customers/Market - + -+ Known Known Innovation Budgeting MINIMUM VIABLE STRATEGY Are we achieving our strategic goals? Are we generating the impact on our Customers, Market, and our Business? Is this meaningful innovation? GLOBAL KPIs REPORTING KPIs External ideas Ideas from the Ecosystem (Open Innovation). Execution Streams ~ 60%-70% ~ 30%-40% ~10% Innovation Portfolio
- Strategic Themes 1 2 3 4 Innovation Portfolio Management by Johnny Ordóñez AllIdeas SharkTank Refinement GO! EcosystemHypotheses backlog Priority Incremental Innovation Adjacent Innovation Disruptive Innovation Portfolio BalancingInnovation Initiatives Customers / Market Product building and Hypothesis validation External execution Fintechs, StartUps, Providers, Universities, other innovation labs. Business Development Operations Innovation Lab 3 months 3 months 3 months REVIEW THE MINIMUN VIABLE PRODUCTS VALIDATED LEARNING Business Model Metrics Insights Reporting KPIs DECISION POINTS CONTINUE STAND BY DISCARD DONE / VALIDATED! Products & Experiences Feedback Innovation Thesis Validation RE-BALANCE Portfolio Prioritization Portfolio Team Organization Customers/Market - + -+ Known Known Innovation Budgeting MINIMUM VIABLE STRATEGY Are we achieving our strategic goals? Are we generating the impact on our Customers, Market, and our Business? Is this meaningful innovation? GLOBAL KPIs REPORTING KPIs External ideas Ideas from the Ecosystem (Open Innovation). Execution Streams ~ 60%-70% ~ 30%-40% ~10% Innovation Practice
- Strategic Themes 1 2 3 4 Innovation Portfolio Management by Johnny Ordóñez AllIdeas SharkTank Refinement GO! EcosystemHypotheses backlog Priority Incremental Innovation Adjacent Innovation Disruptive Innovation Portfolio BalancingInnovation Initiatives Customers / Market Product building and Hypothesis validation External execution Fintechs, StartUps, Providers, Universities, other innovation labs. Business Development Operations Innovation Lab 3 months 3 months 3 months REVIEW THE MINIMUN VIABLE PRODUCTS VALIDATED LEARNING Business Model Metrics Insights Reporting KPIs DECISION POINTS CONTINUE STAND BY DISCARD DONE / VALIDATED! Products & Experiences Feedback Innovation Thesis Validation RE-BALANCE Portfolio Prioritization Portfolio Team Organization Customers/Market - + -+ Known Known Innovation Budgeting MINIMUM VIABLE STRATEGY Are we achieving our strategic goals? Are we generating the impact on our Customers, Market, and our Business? Is this meaningful innovation? GLOBAL KPIs REPORTING KPIs External ideas Ideas from the Ecosystem (Open Innovation). Execution Streams ~ 60%-70% ~ 30%-40% ~10% Innovation Accounting
- David Rogers, Columbia Business School The Five Domains of Digital Transformation Harness customer networks. Reinventing the marketing funnel. Core behaviors of customer networks. Customers Value Adapt your value proposition. Concepts of Market value. Steps to value proposition evolution. Build platforms, not just products. Platforms business models. Competitive value trains. Competition Data Turn data into assets.. Data-driven decisions making. Templates of data value. Innovation Innovate by rapid experimentation. Divergent experimentation. Minimun Viable Products. Paths to scaling up.
- Really interesting books
- i9 presentation to Joe Smith59 QUESTIONS ?
- i9 presentation to Joe Smith60 Thank you! Johnny Ordóñez Johnny Ordónez Ortiz @JohnnyOrdonez Johnny Ordóñez
- Further reading - I A New Model for Innovation in Big Companies https://hbr.org/2013/11/a-new-model-for-innovation-in-big-companies Innovation Is Management https://www.forbes.com/sites/tendayiviki/2017/01/08/innovation-is-management/#2107add53e65 Innovation Labs Don’t Work https://tvou.com.au/speak/innovation-labs-dont-work/ The Myth Of The Innovation Lab https://www.forbes.com/sites/tendayiviki/2018/04/15/the-myth-of-the-innovation- lab/#6ebeea964125 Five Principles for Building Corporate Innovation Ecosystems https://medium.com/the-corporate-startup/five-principles-for-building-corporate-innovation- ecosystems-3b421b7d70e5
- Further reading - II The Five Domains of Digital Transformation https://issuu.com/columbiaup/docs/rogers Innovation accounting and portfolio management https://medium.com/the-corporate-startup/innovation-accounting-and-portfolio-management- eff36a21ca9a Eight Ways To Transform Your Company’s Innovation Culture http://thinkers50.com/blog/eight-ways-transform-companys-innovation-culture/ How Corporate Antibodies Destroy Innovation https://www.linkedin.com/pulse/20140615212942-28799631-how-corporate-antibodies-destroy- innovation/ The Corporate Innovation Ecosystem http://www.xplane.com/innovationecosystem