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The Science of Innovation: Sept 24

Get the key learnings of a 4-year study on Innovation practices.

Innovation doesn’t need to be a random gamble. There is a science of Innovation success.

Over the 4 years, we interviewed and researched innovation practices at over 400 companies. We have identified scientifically proven ways to increase your odds of innovation success. In this presentation you will learn:

• What separates companies successful at innovation from other companies
• What you can do to increase your odds of innovation success
• How to increase speed and reduce risks.

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The Science of Innovation: Sept 24

  1. 1. The Science of Innovation (Facts, the need for systems and best practices)
  2. 2. Notes to Readers • This is a presentation was given September 24th in Gent • It is still work in progress… if you have comments/questions/ suggestions please send them to bryan@fast-bridge.com • In this presentation you will discover: – Key facts on what is driving innovation success. – Why you need to go step by step to build your innovation capacities – How to interpret the results of our innovation readiness assessment. You can get your assessment at this link: http://tiny.cc/Slides_innov_ready – 10 best practices to build a culture of Innovation • If you’d like to arrange a talk at your company, contact bryan@fast-bridge.com
  3. 3. Agenda • Why study innovation ? • Key learnings from the research • The need for systems • Best practices • Q & A / Drinks
  4. 4. Targets tonight • To convince you : – there is a “science of innovation” – there is more to innovation than post-its and brainstorming's – the right way to do things is step by step • To provide you with an insight into best practices and a few things you can do tomorrow
  5. 5. WHAT IS INNOVATION? CREATIVITY is about new ideas INNOVATION is the profitable implementation of these ideas
  6. 6. Why it is important In Fortune 500 companies…  New products account for 50% of revenues  And 40% of profits
  7. 7. companies value innovation are classified as innovative by their peers
  8. 8. of their customers would agree of companies think they had a major innovation in the last 6 months.
  9. 9. of ideas fail when brought to the market
  10. 10. Why Study Innovation (Scientifically) • Everyone seems to have an opinion about Innovation and there is an enormous amount of (conflicting) “information” • A need for facts instead of opinions • A need for fact based theories to guide action In Amazon there are 76.579 books on innovation !
  11. 11. We are committed to helping companies move faster and reduce risks The Fast Bridge Solution • A fact based approach • World class content, training solutions and business partnerships • A network of over 200 freelancers (all with >10 years experience) with a special focus on mentors from Silicon Valley  World class innovation solutions in Belgium with a small, flexible team About us
  12. 12. World class content from Working together with …
  13. 13. Senior people with grey hair (no hair) with the tools, expertise and experience to make innovation happen
  14. 14. Our Core Interest .. Innovation is hard work, but startups are getting it right more often
  15. 15. Start-ups are about more successful with new business projects than established companies. Some experts estimate that over of success in innovation is based on systems. 5x 80%
  16. 16. What should large companies change in their systems ?
  17. 17. More importantly.. Why are kids in a garage doing better than the world’s best companies …
  18. 18. Over 200 ! Articles/ Books Research has linked significantly higher levels of innovation and business performance to business philosophies, strategic alignment, business processes and organizational learning Innovation Performance Firm Performance Attitudes Processes Learning Strategic Alignment Theoretical Background
  19. 19. Our work so far… • 42 one to one company interviews to validate questions and test questions found in over 200 academic articles • A survey with 71 test companies testing initial questions and validating links to innovation performance. • April 2015 we updated the full survey to better analyze disruptive and ongoing innovation success.
  20. 20. Now we are going to look at facts, figures on innovation success
  21. 21. 2 definitions to start 1. Sustaining innovations 2. Breakthrough innovations Sustaining Keep competitive Breakthrough Create future
  22. 22. Setting up the research
  23. 23. Our research database : 3 types of variables 1. Dependent Variables (Innovation / Business performance) 2. Independent Variables (company characteristics) 3. Covariates (company size, country, etc.) Independent Var. #1 Dependent Variables Independent Var. # 2 Covariates Company Characteristics Habits Market Company size Etc. Innovation Business Results
  24. 24. A simplified view of the data set 1 Desire / Hunger 2 Philosophies 3 Autonomy 4 Competitive 5 Creativity 6 Risk Taking 7 Proactivity 8 Structure Breakthrough Innovation Results Overall Strategy alignment 9 Strategy alignment Innovation Results Business 10 People processes Results 11 Organizational Design Sustaining 12 Customer Focus Innovation 13 Co-creation 14 Ecosystem Management 15 Speed / Results focus 16 Systems to select ideas 17 Commitment to Learning 18 Knowledge Sharing 19 Open Minded Dependent Variables Learning Orientation Entreprenuerial Orientation Independent Variables Processes Attitudes Note: All the questions are in the appendix
  25. 25. W Strategy Alignment Innovation Performance Using latent measure to identify relationships Other Factors Covariates How to measure “Are you strategically aligned " = different things to different people
  26. 26. The solution: Using multiple measures of an underlying construct. eg. “Strategic Alignment = “ 1. Our innovation strategy is clearly communicated so that everyone knows the targets for improvement. 2. My organization strategically allocates specific resources (money, staff, materials and space) for innovation to make it easier for potential innovators. 3. There is commitment and support for innovation from top management. Etc…
  27. 27. Reliability Analysis: all measuring the same thing ? Measure: Cronbach alpha 0-1 (>.6 good, >.8 great) Mea 11 questions  Cronbach Alpha .72 Remove 3 questions 1. Our firm is oriented more toward the future than the present. 2. All new product and process decisions in our firm require the approval of the corporate office for strategic alignment. 3. Few strategic actions can be taken in divisions in our firm until the corporate office approves these actions. 8 questions  Cronbach Alpha .84
  28. 28. This was done for every question in the research twice
  29. 29. A validity check (eg Innovation Results) Self-reported questions • Rate of growth • Rate of new product/service introductions • Success rate of product/service introductions • Level of product differentiation in terms of unique selling points • New product cycle time • Ability to create new products/services with real consumer value • Profitability of new product/service introductions • Percentage of revenues from new products introduced in the last 2 years Compared with actual results for 42 companies
  30. 30. Validity: Scaled measures / Self declared measures had a .8 correlation Reliability: The reliability of all scales was greater than .80 most higher than .9 (typical cut-off values .6-.7) Data Quality Summary .8 38% >.8Of business result variation explained by Innovation
  31. 31. Top-line correlation analysis Area Sustaining Innovation Breakthrough Innovation Overall Innovation Desire Hunger 0.45 0.48 0.49 Philosophies 0.41 0.45 0.52 Autonomy (0.52) (0.37) (0.36) Competitive (0.37) (0.31) (0.40) Creative 0.33 0.58 0.54 Risktaking 0.26 0.61 0.58 Proactivity 0.53 0.59 0.59 Structure 0.49 0.45 0.44 All Entrep. Orientations 0.52 0.63 0.70 Strategic Alignment Strategic Alignment 0.54 0.62 0.68 People systems 0.40 0.44 0.55 Organizational Design 0.36 0.29 0.46 Customer Focus 0.36 0.54 0.57 Co-Creation 0.37 0.38 0.48 Ecosystems 0.36 0.28 0.49 Speed 0.52 0.68 0.62 Clear Decision Systems 0.25 0.35 0.51 Commitment to learn 0.45 0.20 0.43 Knowledge Sharing 0.45 0.16 0.46 Open Minded 0.41 0.47 0.44 All Learning Orientation 0.45 0.30 0.53 Overall Score Summary all Areas 0.56 0.64 0.71 Learning Orientation Entreprenuerial Orientation Attitudes Processes 1.Autonomy and competitiveness negatively correlated with Innovation success1 2 2.Entrepreneurial orientation = best predictor 3 3.Strategic Alignment = critical for all types of innovation 4 4.Speed is actually more important 5 5.Overall measure is strong
  32. 32. DETAILED ANALYSIS 7 Key Learnings and suggested action steps
  33. 33. 1. Strategic alignment is the cornerstone of successful innovation 2. If you want to give autonomy, you need to have strategic alignment first 3. If you get alignment, attitudes and learning orientation in place, systems will follow 4. The right balance disruptive/incremental is key 5. Proactivity is the one thing you need to reward 6. Walk before you run (go step by step!) 7. If you are in a big company or a small company you need to act like you are in a successful start up 7 Key learnings from the research
  34. 34. Not aligned Middle Aligned bottom 20% 60% top 20% Sustaining Innovation 22 56 65 Breakhrough Innovation 46 43 72 Overall Innovation 34 47 71 Other measures Ability to create new ideas 37 47 69 Ability to communicate new ideas 41 49 65 Ability to commercialize new ideas 43 48 65 Confidence in launching breakthrough Innovations in the future 29 56 57 N =202 companies 1. Strategic alignment is the cornerstone of successful innovation Action Point: before doing anything, look at how you can build alignment Details All participants ranked by level of strategic alignment (8 questions) Avg. Rank orders (0-100) Presented for other variables
  35. 35. • Autonomy and competitiveness were negatively correlated with innovation results • Why: People can get lost in what they are doing. When customer focus is high. Both autonomy and competitiveness are positively correlated with results. Innovation Results Low Cutomer High Customer 71 57 49 21 Low High Low High Autonomy Autonomy FocusFocus 2. If you want to give autonomy, you need to have strategic alignment first
  36. 36. Action Point: Think about something like our blue cards A story that excites people A specific request Exclusions Constraints First ideas
  37. 37. Innovation Performance Firm Performance Attitudes Processes Learning Test: Origin of processes Strategic Alignment
  38. 38. 2. If you get aligned, the right attitudes and learning orientation in place systems will follow Excellence in systems Predicted by Attitudes, Strategy Alignment, Learning Orientation 1. The model predicts 79% of the explained variance (a good model is anything over 20%) 2. All variables significant with learning orientation / attitudes most predictive Action Point: Think of these elements as the foundation of your innovation program. Get these right first. R2 0.79 (1) Std.Coeffi cients B Std. Error Beta (Constant) .028 .045 .625 .533 Strategic Alignement .125 .069 .135 1.822 .072 Attitudes (ALL) .423 .069 .445 6.150 .000 Learning Orientation .392 .067 .409 5.863 .000 a. Dependent Variable: Systems_ALL Systems_ALL (2) Unstandardized Coefficients t Sig.
  39. 39. Attitudes Processes Learning Innovation Performance Firm Performance Test: Innovation Mix Sustaining Innovation Breakthrough Innovation Strategic Alignment
  40. 40. 4. The right balance Disruptive/ Incremental is key Std. Coefficients B Std. Error Beta (Constant) .896 .108 8.304 .000 Breakthrough Innovation 0.51 0.15 0.51 3.51 0.00 Sustaining Innovation 0.29 0.16 0.26 1.76 0.09 a. Dependent Variable: Overall Innovation Results Unstandardized t Sig. The biggest driver of overall innovation success is: Breakthrough Innovation A 1% improvement in breakthrough innovation will deliver 2 X more than sustaining innovation (.51/ .26)
  41. 41. A balance portfolio = 85 % sustaining 15% breakthrough But 50% of profit growth from breakthrough Action Point: Build breakthrough innovation capabilities and reallocate funds
  42. 42. A process of building a model by successively adding or removing variables based on their estimated coefficients “Throw everything in and see what remains” Sideline: Stepwise regression
  43. 43. Testing Everything 1 Desire / Hunger 2 Philosophies 3 Autonomy 4 Competitive 5 Creativity 6 Risk Taking 7 Proactivity 8 Structure Breakthrough Innovation Results Overall Strategy alignment 9 Strategy alignment Innovation Results Business 10 People processes Results 11 Organizational Design Sustaining 12 Customer Focus Innovation 13 Co-creation 14 Ecosystem Management 15 Speed / Results focus 16 Systems to select ideas 17 Commitment to Learning 18 Knowledge Sharing 19 Open Minded Dependent Variables Learning Orientation Entreprenuerial Orientation Independent Variables Processes Attitudes
  44. 44. 5. Proactivity is the most important thing you need to reward Action Point: There is so much to do… use these facts to focus your efforts Unstandardized Coefficients Std Coefficient s t Sig. B Std. Error Beta (Constant) -.996 4.730 -.211 .834 Proactivity .465 .077 .484 6.063 .000 Commitment to Learn .286 .081 .291 3.539 .001 Clear Decision Systems .261 .080 .272 3.264 .002 Speed/Results focus .235 .079 .253 2.989 .004 Innovation Results All independent variables tested stepwise, 4 factors remained 1.The model predicts 63% of the explained variance (a good model is anything over 20%) 2.Proactivity is by far the most important driver of innovation performance
  45. 45. Now comes the most important thing we learned
  46. 46. When we rank order companies by innovation results there is a clear evolution of skills.. Innovation Rank Strategy Learning Orientation Desire/ Hunger Operational Excellence Entrep. Orientation Bottom 25% 11% 4% 4% 0% 13% 25-50 42% 44% 24% 48% 44% 50-75 81% 58% 92% 92% 79% Top 25% 96% 100% 100% 100% 92% Stage 2 Stage 3Stage 1 Percentages represent the number of companies scoring over 40
  47. 47. Culture and capabilities grow over time The Basics Strategy Hunger Philosophy Learning Orientation * Operations Speed Proactivity General systems Customer focus Entrepreneurial Orient. Risk Taking Ecosystem Management Structure Creativity Room to grow Sustaining Innov. Breakthrough Innov. Want it Do it Not scared to do more
  48. 48. Culture and capabilities grow over time The Basics Strategy Hunger Philosophy Learning Orientation * Operations Speed Proactivity General systems Customer focus Entrepreneurial Orient. Risk Taking Ecosystem Management Structure Creativity Room to grow Sustaining Innov. Breakthrough Innov. Want it Do it Not scared to do more
  49. 49. How we see this in the company results … Stage 1 Stage 2 Stage 3 Stage 4 Missing Basics Operations EO Core None over 60% Breakthrough Innovation 19 44 55 70 Sustaining 25 40 50 64 Overall Innovation 34 50 67 76 > 60th percentile
  50. 50. Action Point: Find out where you are now… (Our Innovation Audit is an easy solution and it is free: www.tiny.cc/Slides_innov_ready )
  51. 51. It takes about 30 minutes Then you can look at 1. Strengths 2. Basics 3. Procedures 4. InnoPreneurship 1 2 3 4
  52. 52. . . Step 2 Get the Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things u Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
  53. 53. . . Step 2 Get the Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
  54. 54. . . Step 2 Get the Basics Right Pay particular attention to Strategy First 17 Step 3 Build process and procedures Hunger 9 Pay particular attention to Philosophy 37 Speed 28 Learning Orientation * 24 Proactivity 5 Step 4 Entrepreneurial Orientation General systems 35 Pay particular attention to If issues, fix Customer focus 42 Risk Taking 16 Strategy alignment Ecosystem Management 62 Innovation training If issues, fix Structure 26 (For management and workers) All Stage 1 activities Creativity 20 Innovation Events Moments of truth Invite Speakers Ask for ideas If issues, fix Lean Start-up (learning training) Set up systems All Stage 1/2 activities External Events Accleration programs Ask for more ideas Reward Proactivity Create Sessions Hackathons Coaching Ecosystem development Tell them it is important and Innovation Sprints Celebrate risk taking get them to believe … Reward Innovation Bring in Entrepreneurs Reward Innopreneurship Ask for ideas, push for speed Build ideas and systems to test Expect Entrepreneurship, bring in entrepreneurs/ partners to shake things up Step 1: Look at strengths to build on: Competitive, Ecosystem Management,
  55. 55. Now our core research question…
  56. 56. There is a big difference in the innovation profile of small and large companies No big surprise there… Small Big Desire / Hunger 65 39 Philosophies 68 35 Autonomy 35 61 Competitive 48 54 Creativity 58 41 Risk Taking 63 38 Proactivity 56 45 Structure 64 38 Strategy alignment 57 42 People processes 70 39 Organizational Design 67 38 Customer Focus 60 39 Co-creation 62 39 Ecosystem Management 59 41 Speed / Results focus 62 36 Systems to select ideas 58 44 Commitment to Learning 59 40 Knowledge Sharing 67 36 Open Minded 64 37 All
  57. 57. The real news is: Successful Innovators big and small, have similar company cultures Small Big Desire / Hunger 75 79 Philosophies 81 70 Autonomy 27 41 Competitive 45 37 Creativity 72 72 Risk Taking 71 77 Proactivity 62 79 Structure 61 64 Strategy alignment 61 76 People processes 86 79 Organizational Design 70 72 Customer Focus 75 68 Co-creation 72 63 Ecosystem Managemen 67 65 Speed / Results focus 73 67 Systems to select ideas 85 70 Commitment to Learnin 49 72 Knowledge Sharing 81 59 Open Minded 65 57 Winning Innovators
  58. 58. Big Small Big Small All Leaning Orientation 37 66 67 78 All Basics 37 68 72 77 All Operations 40 60 72 66 All Entrepreneurial Orientation 38 63 78 78 Overall Innovation Readiness 40 70 80 82 All Companies Winning Innovators
  59. 59. Action Step: Big or small, you need to work on innovating like a successful start up… Note: The solution is step by step and systematic
  60. 60. Ideas to action A partner with a shared vision 10 best practices
  61. 61. Our key partner: Innovation Engineering Why IE • They share our fact based focus • They have created systems to manage innovation • Great training materials • Flipped classroom technology • A library with close to 100 training videos • In collaborattion with 26 Universities (and very fact based) • Fully updated once per year • Proven  Academically validated (see National science report) 26,000 trained already/ close to 90% repeat rate
  62. 62. “America’s #1 Idea Guru” – A&E Top 10 ! “America’s #1 New Product Idea Man” – Inc. Magazine !
  63. 63. In his words.. He sold spark plugs to Industry They worked for hundreds of companies, then the sparks worked less and less
  64. 64. They analyzed mountains of data… • PEOPLE Data: innovation benchmarking data on over 100,000 managers. • PROCESS Data: 6,000 teams during a day of brainstorming. • IDEA Data: market research on over 26,000 innovations.
  65. 65. 16 % ideas 84 % systems They identified the share of success due to ideas and systems to execute ideas
  66. 66. Mission: To Change The World through Systems that Enable Innovation by everyone, everywhere, every day, resulting in: increased speed to market (up to 6X) & decreased risk (30 to 80%).
  67. 67. However, unlike many consulting companies we can pick and choose the best programs (not just ones we have developed)
  68. 68. 10 Best practices
  69. 69. A typical program 100 days… With 30 minutes . . . Almost 100 hours per minute
  70. 70. Case Study: SNARC SNARC... A Semantic Social News Aggregator When you want to know more SNARC helps you discover content by highlighting what is meaningful in a quick, smart and personalized manner. SNARC finds relevant content by learning from the content, the social web and you! 3 people with PHDs in Semantic Search / 2 start up experts and about 100K to build a traction to get investment video: https://youtu.be/IagHRT45to8
  71. 71. 80% product development 10% getting new users 5% finding a business model 5% other 100% • We are best in class • We have 15,000 downloads this week • Our server response time is down to .8 seconds • We were listed in TechCrunch last week • Success is on the way We built something great, profits will follow
  72. 72. 10 Best practices … The basics Processes/ Procedures/ Skills Entrepreneurial Orientation Assessment Training Ecosystem Development Alignment Systems to promote cycles Build Entrepreneurship Show it is important Moments of truth Acceleration programs Ongoing Inspiration
  73. 73. Starting at the end… Building an entrepreneurial mindset Building an entrepreneurial culture takes time … One of the best introductions I know is a discussion about effectuation. If you want something different, you need to learn to think different.
  74. 74. External video https://www.youtube.com/watch?v =TIXVe4nEDEE
  75. 75. The 5 principles of effectuation
  76. 76. Effectuation Training How to think like an Entrepreneur Deliverables Participants will understand how successful entrepreneurs think differently and how to build these thinking skills Option 1: A grouped program with other Companies Early November … (to be confirmed) Option 2: A company specific program
  77. 77. 1. Assessments
  78. 78. 1. Assessments You need to know where you are, to decide what to do next… 1 Overall Score 11 People processes 2 Desire / Hunger 12 Organizational Design 3 Philosophies 13 Customer Focus 4 Autonomy 14 Co-creation 5 Competitive 15 Ecosystem Management 6 Creativity 16 Speed / Results focus 7 Risk Taking 17 Systems to select ideas 8 Proactivity 18 Commitment to Learning 9 Structure 19 Knowledge Sharing 10 Strategy alignment 20 Open Minded Our Assessment: http://tiny.cc/Slides_innov_ready How Innovative Is Your Company’s Culture? http://tiny.cc/bainassess http://tiny.cc/tellisassess
  79. 79. 3 Options 1. FREE On-line versions from diferent companies 1. MIT: http://tiny.cc/tellisassess 2. Bain: http://tiny.cc/bainassess 3. Fast Bridge: http://tiny.cc/Slides_innov_ready 2. A facilitated audit (5-20 K) 1. Completation of the on-line audit 2. Manager Interviews 3. Premiminary assessment 4. Company presentation 5. Action plan development 3. A talk with a friendly expert
  80. 80. The most important question a scale up needs to ask “If this business fails, why would it fail ?”
  81. 81. 5 Whys Why is no one paying for our service ? We never asked anyone to pay Why have we never asked anyone ? We haven’t found a pain someone is willing to pay to resolve Why no pain to resolve ? We haven’t focused on a specific segment yet Why no segment yet We have spent too much time at our desk Why too much time at our desk We are scared to meet clients because we don’t have ideas to sell We need ideas for things we can sell
  82. 82. 2. Executive alignment
  83. 83. Executive alignment Executive program 1.5 day C level focus Indiv. company or several companies Day 1: “How to” Day 2: “We need” Deliverable: skills to manage, 4-6 blue cards KSFs: Strategy from within, linking alignment with actions Option 1: A grouped program with other Companies 19/11 and 20/11 Option 2: A company specific program
  84. 84. Sample Questions
  85. 85. Snarc’s blue card (just one) Make it a story Be honest Be specific Define your Request for help Let's get paid Why it is important (the story) If we can't find a way to get people to pay for our service, we have no business regardless of how great our technology is, how many people download our product or how useful it is. Request 3 ideas to make money that we can test We are not interested in A fee for use of the plug-in Why: people will not pay Constraints We have around 100 K to grow the business, so the solutions need to be low cost. AND we need to work with partners
  86. 86. 3. Show innovation is important
  87. 87. 3. Show innovation is important (and supported !) Tell them it is important, but more importantly show it ! A few quick ideas • Start a training program • 555 program (5000 * 5 people * 5 days to make a prototype) • Adobe: 1000 and a box • Events (about 30 K each) • Start-up weekend (Participate in one or organize one at your company) • A hackathon
  88. 88. 10 Best practices … The basics Processes/ Procedures/ Skills Entrepreneurial Orientation Assessment Training Ecosystem Development Alignment Systems to promote cycles Build Entrepreneurship Show it is important Moments of truth Acceleration programs Ongoing Inspiration
  89. 89. 4. How to (Training)
  90. 90. 4 Options 1. A University program (usually hands off/ lack of on-site) 2. A International Training program (lack of follow-up) 3. A Belgian training program (often issues program depth) 4. Innovation Engineering in Belgium – A 5 day black belt program in the US (2 weeks prep + 5 days + 10 days follow-ups) – A grouped green belt program (in Belgium) – A company program
  91. 91. 95 2 Hours Leadership Meeting CREATEStimulus Mining 2 Hours IE Workshops CRE<ATE COMMUNICATE COMMERCIALIZE 2 Hours Each or I Full Day 4 Hours - Choose and Finalize Blue Card - Those Already Trained Join Here Watch Video Before Mine on VIP or VIO Week 7 - 12 MonthlyWeekly Weekly Project Updates Fail FAST Fail CHEAP ‘work’ Quarterly Decide on Next VIO/VIS Wave GREEN BELT Certification Celebration 1.5 Hour .5 Hour Week 1 Week 2,3,4 Week 5 Week 6 Process Check In 1 Hour What’s Working? What’s Not? Innovate Process 2 Hours Define Ideas Green Belt Training
  92. 92. Create
  93. 93. MU = S F D Meaningfully Unique Ideas! Leverage Diversity Drive out Fear = Explore Stimulus
  94. 94. Best practice 3 Steps Step 1: Define your needs (already done) Step 2: Get stimulus (Stimulus mining) Step 3: Mix and match (Association) Today steps 1 and 3 (because we have limited time)
  95. 95. Stimulus Available # of practical ideas invented Low Stimulus Medium Stimulus High Stimulus 22 38 47 Value of Stimulus Stimulus Feeds The Brain
  96. 96. COMPUTER Stimulus sets off a CHAIN Reaction!!!
  97. 97. Traditional Model Individual Brainstorming draining Before After Suck Method Uses Your Brain Like A LIBRARY
  98. 98. At Their Most Basic, IDEAS are Feats of Association
  99. 99. You can use tools and systems to force new associations (there are hundreds of tools)
  100. 100. 666: forced associations •8 Min: Random combinations (look for ideas) •2 Min: Pick top ideas and write them up.. • Headline • Problem / Pain • Promise • Proof
  101. 101. Red Mindset White Target Blue Method 1 Apple Students Substitute something 2 Starbucks, Journalists Combine it with something else 3 Amazon, Bloggers Adapt something to it / Modify or Magnify it 4 Ben&Jerrys, A search company Put it to some other use 5 Prius Data company Eliminate something 6 Nike Publisher Reverse or Rearrange it
  102. 102. Forced Associations… 1 2 3 4 5 6 7 8 4 6 6 4 3 3 5 2 Round 1 1 5 4 6 3 5 3 4 2 1 3 1 4 4 2 5 3 5 4 1 3 2 1 6 Round 2 6 5 2 4 5 6 4 2 2 6 6 1 3 5 4 6 5 6 5 1 5 2 5 1 Round 3 4 2 2 2 6 3 4 1 4 4 2 5 4 2 4 5 1 Group
  103. 103. Red Mindset White Target Blue Method 1 Apple Students Substitute something 2 Starbucks, Journalists Combine it with something else 3 Amazon, Bloggers Adapt something to it / Modify or Magnify it 4 Ben&Jerrys, A search company Put it to some other use 5 Prius Data company Eliminate something 6 Nike Publisher Reverse or Rearrange it 1/ 1 / 1 Apple = design and simplicity Students love music Substitute instead of showing the internet, show things to buy A fancy music mix trial list anytime someone visits a music site with an option to buy on ITunes
  104. 104. Suggestions Agree: – Group # – Facilitator – Writer – Timer Use template Work 8 minutes then decide…
  105. 105. Communicate IDEAS
  106. 106. If people don’t understand you can’t ask them for feedback
  107. 107. Why ? Wonderful
  108. 108. There are 2 really big questions 26,000 New product Introductions 70% of success F (Meaningful / Unique ) 112 A million dollar formula .6 * Meaningful + .4 * Unique = the best predictor of success Cut-off = 6 or better
  109. 109. Why ? Wonderful
  110. 110. Sugging to real information … Hey mom what you think…. ? That’s great son… 3 reasons you’d buy this product Please tell me If this business failed Why did it fail 3 ideas for improvement
  111. 111. 5. Risk Reduction
  112. 112. 3 ways to reduce risks 1. Learn to think like an entrepreneur managing risks (what can I do with what I have.) 2. Stop talking upside, start talking affordable lost 3. Focus on death threats first !
  113. 113. 6. Systems to promote cycles
  114. 114. And reduce risks ! When there are no death threats left You can’t help but succeed !
  115. 115. An example of world class (not Snarc) Objectives A weekly learning cycle every week for 10 weeks 10 ideas for new users/ uses of their product At least 80 new ideas, with 60 killed, 10 merged and 10 in progress Alignment Every Monday… what next now Build ideas Each Friday a brain-storming session (with new external people) Communicate Check Systems Identify death threats/ work on death threats Kill all weak ideas where death threats not resolved in 2 weeks An 10 minute standing meeting every morning Write and document work done each week One person writes up the ideas/ Another lists the death threats External experts to validate/ give feedback on all ideas
  116. 116. How this worked in practice Weeks 1 – 3 : all the old ideas Weeks 3-4: better ideas Weeks 5-7: desperation Weeks 8-10: real, better ideas Maybe why traditional one off braininstorming doesn’t really work
  117. 117. 7. Moments of truth Almost anything works faster with a deadline • Inspiration days • Pitch events (with internal / external judges) • Hackathons Up and running in 82 cities. Moments of truth (they call them forcing moments) are the foundation. Graduates 80% success, 52% funding
  118. 118. Building urgency for better ideas Friend and Family Day Really Ugly Meetup Event Still Ugly Speak at Conference Less Ugly Investor Presentation Good Enough
  119. 119. 10 Best practices … The basics Processes/ Procedures/ Skills Entrepreneurial Orientation Assessment Training Ecosystem Development Alignment Systems to promote cycles Build Entrepreneurship Show it is important Moments of truth Acceleration programs Ongoing Inspiration
  120. 120. 8. Ecosystem development If you want to move fast, it is usually not what you know, but who you know that makes the difference • Meet and greet sessions with Entrepreneurs • Events with entrepreneurs pitching ideas for your business challenges • Attendance at external events (eg Inacademy, The Founder Institute)
  121. 121. 9. Ongoing inspiration • Lots of content • Lots of diverse content and people • = A recipe for new ideas • If you’re a bank don’t ask banker to s peak, ask artists • Best in class google talks (inspired from P&G) • Search “google talks” in YouTube
  122. 122. The Talks at Google brings directors, actors/actresses, artists, authors, musicians, innovators, and speakers of all stripes
  123. 123. 3 Options 1.Use/ build your local network (usually the best solution) 2.Use free on-line resources 3.Paid external speakers
  124. 124. 10. Acceleration programs
  125. 125. Summary … The basics Processes/ Procedures/ Skills Entrepreneurial Orientation Assessment Training Ecosystem Development Alignment Systems to promote cycles Build Entrepreneurship Show it is important Moments of truth Acceleration programs Ongoing Inspiration
  126. 126. Goldilocks and Innovation Source: Inventuring: Why Big Companies Must Think Small Step 1: Want it Step 2: Do it Step 3: Not scared to do more Tight on targets Loose on methods You gotta get is just right
  127. 127. Remember, sometimes “ The hurrier you go, the behinder you get…”
  128. 128. Smart Speed A study by Economist intelligence with 312 companies split into 2 groups: 1. Go, go, go 2. Think, go , think, go (paused at strategic moments) The companies with strategic pauses achieved: 40% higher sales, 52% higher profits Take some time Make a rough plan Then exceute with speed and urgency
  129. 129. You have to build things step by step ! The Basics Strategy Hunger Philosophy Learning Orientation * Operations Speed Proactivity General systems Customer focus Entrepreneurial Orient. Risk Taking Ecosystem Management Structure Creativity Room to grow Sustaining Innov. Breakthrough Innov. Want it Do it Not scared to do more
  130. 130. Recommendations There is lots you can do.. The important things is to do something and if possible do things step by step 4 Key recommendations: 1. Start before you think you need to start.. It takes time to build cultural change (there are no miracle solutions !) 2. Think systems and long-term solutions 3. Don’t reinvent the wheel… copy best practices don’t try to invent everything yourself 4. There are many, many companies selling Innovation solutions, try working together first
  131. 131. Moving Forwards Easy / Free Mini-Investments Getting Serious Free Resources Free Events Free Innovation Audit A talk together (free) Effectuation Training Executive training Green Belt training Innovation Certification In depth Innovation Assessment A la carte activities 10 best practices Innovation as a system Trial run (25K) 1/2 Day Strategy Activation 1 Day Innovation Training 2 half day create sessions Coaching for 8 weeks Train the trainer programs Accelerator programs Company change programs
  132. 132. 10 things you can do tomorrow … (with no budget) 1. Share this presentation with a few colleagues 2. Visit a few of the links in this presentation 3. Sign up for a few events to learn more/ meet different people 4. Write up a blue card for a project you’re working on ask for 5 yellow cards 5. Take an honest look at where you are in the innovation process (our audit is free) 6. Read a bit more about Innovation (check out our site) 7. Look into executive and executional innovation training programs 8. Arrange some external speakers 9. Instead of a KSFs list, put together a KDTs (key death threats list) and work on it. 10. Give us a call to arrange a talk together
  133. 133. Q & A
  134. 134. Contact Information For questions about this presentation or request for a meeting please contact Bryan Cassady Bryan@fast-bridge.com +32-475-860-757 Links to external company references in this presentation: Innovation Engineering www.innovationengineering.org The Founder Institute www.fi.co European Innovation Academy www.inacademy.eu AFCE www.afce.co Get an Innovation Readiness Assessment for your company: http://tiny.cc/Slides_innov_ready
  135. 135. Appendix: all questions In the research survey
  136. 136. Contact Information For questions about this presentation or request for a meeting please contact Bryan Cassady Bryan@fast-bridge.com +32-475-860-757 Links to external company references in this presentation: Innovation Engineering www.innovationengineering.org The Founder Institute www.fi.co European Innovation Academy www.inacademy.eu AFCE www.afce.co Get an Innovation Readiness Assessment for your company: http://tiny.cc/Slides_innov_ready

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