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2014.01.30 Innovation overview by Glenn Wintrich

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2014.01.30 Innovation overview by Glenn Wintrich

  1. 1. Innovation Overview Glenn Wintrich
  2. 2. 2 © 2012 Forrester Research, Inc. Reproduction Prohibited 2 Innovation is not for the faint of heart
  3. 3. 3
  4. 4. Speed of change accelerating
  5. 5. 5 Services Dell - Internal Use - Confidential IT’s transformation essential to 21st century business success The purpose of the 20th century firm: The purpose of the 21st century firm: To minimize transaction costs and achieve scalable efficiency To accelerate capability building and effectively apply that capability to innovation Creating new value — better & faster New view: Socially- enabled enterprise operating in a digital business ecosystem IT is essential to enabling firms to transform and innovate with information- driven value creation
  6. 6. ProcessesBusiness Models Management Products and Services Marketing Innovation defined Innovation is the process that takes new ideas and implements them in a way that creates value by solving unmet needs.
  7. 7. Would this qualify as innovative??? No turtle was hurt creating this picture
  8. 8. Common myths of Innovation While creative thinking is helpful, innovation is a systematic discipline You have to be creative to be innovative Successful innovations require large-scale change Innovation is expensive The most successful innovations are often the simplest Most innovations require a modest disciplined investment of time and brain power Innovation is led by R&D & Technology Innovation is an organization-wide responsibility to leverage ideas Myth Reality
  9. 9. Services Sales Training Dell - Internal Use - Confidential Marketing innovation Examples Marketing innovation refers to tools and approaches that organizations use to cultivate relationships with customers and prospects. Internet video Gamification Location based marketing Social network marketing Personalization
  10. 10. Services Sales Training Dell - Internal Use - Confidential Process innovation Examples Process innovation refers to new methods to achieve superior outcomes. Electronic Medical Record Streaming VideoRobotic assembly line Financial banking
  11. 11. Services Sales Training Dell - Internal Use - Confidential Management innovation Examples Management innovation refers to the way organizations engage resources to enhance performance and achieve superior outcomes. Resource models Reward structures Organizational models Organizational Models Collaboration/ Autonomy
  12. 12. Services Sales Training Dell - Internal Use - Confidential Focus areas for Management Innovation New view of the enterprise: Socially-enabled enterprise operating in a digital business ecosystem • Increase collaboration • Allow for autonomy and innovation • Experiment with new approaches and resource models: o Crowdsourcing o Hackathons o Microwork o Hollywood Model o Self-Selecting Teams o Expert Ecosystems Management
  13. 13. Services Sales Training Dell - Internal Use - Confidential Services Sales Training Product and Service innovation Examples Product and Service innovation refers to the introduction of new and enhanced goods and services. Digital Oil Field Sensors Car break system (Carbon fiber) 3-D printing (Polymers) Apple iTunes Workstation on Wheels (WOW)
  14. 14. Services Sales Training Dell - Internal Use - Confidential Services Sales Training Long Tail Business Model innovation Business Model innovation refers to the approach to how an organization creates, delivers, and captures value. Sample business models Franchise Direct Sales Freemium Add-on Auction Low cost Recurring RevenueSubscription
  15. 15. 15 Services Business Model Analysis
  16. 16. Services Sales Training Business Model Innovation components Components • Partnerships • Channels • Cost Structure • Key Resources • Core Capabilities Components • Bundling and Configuration • Segmentation • Customer Relationships • Revenue Streams: Pricing and Payment Structures • Value Proposition
  17. 17. 17 Services Dell - Internal Use - Confidential A dynamic shift IT Environment IT Productivity • Consolidation • Cost • Outsourcing • ERP Prior to 2012 Post 2012
  18. 18. Degrees of Innovation BusinessModelsandProcesses Products and Services New Existing ExistingNew New Value Breakthrough and Disruptive Innovation Incremental Innovation
  19. 19. Why is Innovation important? Incremental Breakthrough & Disruptive 1. Keep products & services in the competitive set 2. Reduce Cycle Time 3. Improve Quality 4. Reduce Cost 1. New revenue stream 2. First mover advantages 3. Obtain higher margins 4. Increase brand value 5. Realize an innovation premium on the stock 6. Improve corporate culture
  20. 20. Innovate or lose competitive position
  21. 21. Innovate or lose competitive position http://www.youtube.com/watch?v=6Cf7I L_eZ38&feature=player_embedded
  22. 22. Dell Services The Volvo (Whitbread) Round-the-World Race: What Determines the Winner? the Tactician ? the Grinders? the Skipper? the Navigator?
  23. 23. Dell Services Answer: None of the Above. It’s the DESIGN OF THE BOAT that matters. The analogy to the corporate world is that designing an Innovation Culture that allows success to happen is imperative to your Company’s success. Credit: Peter Senge, The Fifth Discipline
  24. 24. Architecture for Systemic Innovation Insight Market Innovation Customer Innovation Scan R&D, IP & Patents, Regulations & Standards Identify Constraints & Opportunities Environmental Scanning Weak Signals & Trends Foresight Develop Themes & Scenarios Plan of Record Plan of Intent Plan of Investigation Strategic Plans Frameworks Reference Architectures Operational & Annual Plans Execute Business Challenges Facilitate Shared & Open Innovation Deliver Innovation Plans Outcomes and Metrics Invest Execute
  25. 25. 25 Architecture for Systemic Innovation Insight Market Innovation Customer Innovation Scan R&D, IP & Patents, Regulations & Standards Identify Constraints & Opportunities Environmental Scanning Weak Signals & Trends Foresight Develop Themes & Scenarios Plan of Record Plan of Intent Plan of Investigation Strategic Plans Frameworks Reference Architectures Operational & Annual Plans Execute Business Challenges Facilitate Shared & Open Innovation Deliver Innovation Plans Outcomes and Metrics Invest Execute
  26. 26. 26 Confidential Services Dell - Internal Use - Confidential The objective of foresight is to identify future opportunities, challenges, and potential solutions. Approaches & Tools Basics • Environmental Scanning • Extrapolation • Scenarios • Regulatory Reviews • SWOT • Surveys • Expert Panels • Patent Analysis Advanced • Futures Wheels • Futures Cone • Black Swan Analysis • Delphi • Backcasting • Paleofuture Analysis • Science Fiction Foresight Foresight is knowledge of emerging indicators or macro trends across the social, technological, environmental, economic, and political landscape.
  27. 27. 27 Services STEEP/PESTLE • Societal • Technological • Economic • Environmental • Political/Legal S T E E P
  28. 28. 28 Services Sales Training Architecture for Systemic Innovation Insight Market Innovation Customer Innovation Scan R&D, IP & Patents, Regulations & Standards Identify Constraints & Opportunities Environmental Scanning Weak Signals & Trends Foresight Develop Themes & Scenarios Plan of Record Plan of Intent Plan of Investigation Strategic Plans Frameworks Reference Architectures Operational & Annual Plans Execute Business Challenges Facilitate Shared & Open Innovation Deliver Innovation Plans Outcomes and Metrics Invest Execute
  29. 29. 29 Services Sales Training Insight Popular resources & tools • Social Media • Market Data • Analysts • Standards Bodies • Industry Publications • Laws, Regulations, (established & pending) • Customer Surveys • Focus Groups • Patent Analysis Insight is the observation of facts, knowledge, predictable trends, and points of view that may apply to particular issues, opportunities, and challenges. . The objective of insight is to identify constraints and opportunities.
  30. 30. Macro trends indicate sustained shifts that influence future decisions in business, government and society.
  31. 31. Sample Macro Trends Perfect Information Consumerization Smart Everything Crowdfunding & P2P Lending An old workforce A new workforce Urbanization Freelance economy & Hollywood Model Sharing Economy Utility computing Pervasive simplification Technology does not cause change, it only enables, facilitates and accelerates changes we already want to take place.
  32. 32. Architecture for Systemic Innovation Insight Market Innovation Customer Innovation Scan R&D, IP & Patents, Regulations & Standards Identify Constraints & Opportunities Environmental Scanning Weak Signals & Trends Foresight Develop Themes & Scenarios Plan of Record Plan of Intent Plan of Investigation Strategic Plans Frameworks Reference Architectures Operational & Annual Plans Execute Business Challenges Facilitate Shared & Open Innovation Deliver Innovation Plans Outcomes and Metrics Invest Execute
  33. 33. 33 Services Foresight and Disruptive Innovation Disruption Zone: Incumbents myopically focus on sustaining innovation while new entrants disrupt the model through innovation. t %, $ t Value of Foresight: Disruptive innovators see ways to improve a job that is performed and mobilize resources to achieve new results. Disruptive Innovation Sustaining Innovation
  34. 34. Market Innovation: Product Cycle Cycle Market View Product Plan Signal Sources 3 Unclear: Surprises What is Possible? FORESIGHT including macro trends and all areas of STEEP 2 Generally Expected What is planned to be developed. INSIGHT: Competitors, Analysts, Customers, Standards bodies & Regulatory bodies 1 Planned What is funded and will be launched. Customers Market Innovation Plan of Record Plan of Intent Plan of Investigation
  35. 35. Services Sales Training Metrics
  36. 36. Organizational level innovation metrics 3rd order External Corporate Perception Highest level of innovation indicators and long-term achievement • Customer perception assessments • Inclusion, rank, and direction of change in industry rankings • Relative position in Gartner Magic Quadrants (MQ) • Placement in Forrester Waves • Most “innovative” company rankings 2nd Order Internal Corporate Operational or functional level of innovation • Measurement of innovation activities and financial performance • Includes both Input and Output metrics 1st Order Business Unit Lorem ipsum dolor sit amet, consectetur adipiscing elit. Tactical metrics and KPIs for BU activities and programs • Measurements of foundational catalysts for each BU that drive towards higher functioning level of innovation.
  37. 37. Services Sales Training Innovation metrics Inputs Idea Management Outputs # of ideas submitted Cycle time metrics for initial review, incubation, development, pilot, etc. # of new products or services launched Amount of capital in # of ideas funded for incubation Actual vs. targeted breakeven time (BET) % of people trained in innovation # of ideas piloted % of revenue/profit from products or services introduced in the past X years # of crowdsourcing challenges # of ideas funded for commercialization Royalty and licensing income from patents/intellectual property #of leaders engaged in innovation % of product/service or strategic innovation projects with assigned executive sponsors Number of innovations that significantly advance existing businesses
  38. 38. 38 Final Thoughts • Revenue growth belongs to the innovators • Collaboration is king – victories are in the white spaces between groups • The “Red Queen Scenario” • And one more thing………..
  39. 39. 39 We must Innovate or Die!!
  40. 40. Q&A Open the floodgates for questions
  41. 41. Thank you
  42. 42. Innovate or lose competitive position http://www.youtube.com/watch?v=6Cf7I L_eZ38&feature=player_embedded

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