innovation: end to end -- a corporate innovation process
Post on 20-Aug-2015
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Tilling
• Igniting innovation– Introduce Context• Corporate innovation group• Shared definitions of entrepreneurship and innovation
– Create Motivation• Value proposition for participants• Expressed buy-in from leadership
– Establish Community• Gather the entrepreneurs• Provide a forum and meeting place
2 Stage I
Tilling
• Stage I Programs– Marketing
• Email campaign• Intrapreneur networking events• Online engagement
– Education• Business Fundamentals
– Overview of business fundamentals for non-business types– Resource: Crossing the Chasm, by Geoffrey Moore; Custom materials
covering basic finance, strategy, and marketing
• Pitch Training– Components of the business hypothesis that make up an idea and how to
quickly pitch an idea in a meaningful way– Resource: Art of the Start, by Guy Kawasaki
3 Stage I
Soil
• What will be the sources of innovation?– Industry changes
• Inefficiency looking for a solution• Opportunity from upheaval• Leveraging the latest technologies
– Market changes• Shifting demographics• New consumer habits and desires
• Leveraging company resources and competencies– Within divisions– Across divisions– Beyond divisions
4 Stage II
Soil
• Stage II Programs– Education• Sources of Innovation
– Identifying the industry and market changes that can be the impetus for innovations
– Resource: Entrepreneurship and Innovation, by Peter F. Drucker
• Business Model Analysis– Expose the immediate opportunities within the family of
companies– Resource: Business Model Generation, by Alexander
Osterwalder and Yves Pigneur
5 Stage II
Seeds
• Collect ideas– Quarterly Outreach Program (Stage III Program)
• Evaluate ideas– Completeness
• What is the product/service? • Who is the user? • Why do they want the product/service? • How does the business make money?
– Potential• Long term profitability• Scalability6 Stage III
Nurture
• Expand and revise ideas– Work with Program Champions to “flesh out” ideas
• “Pre-market” market research = community research• Technology features User benefits• Best position in value chain
• Assess need for mock-up– Useful for communicating product concept during
early market research– May be the best way to encapsulate the idea (e.g.
Twitter)
7 Stage IV
Nurture
• Stage IV Programs– Education
• Idea expansion– Expanding and evaluating an idea to create a robust business
hypothesis that addresses issues surrounding the customer, technology, and business model
– Resources: Mind-mapping software; Managing Intellectual Capital, by David J. Teece; The Inmates are Running the Asylum, by Alan Cooper
– Development• Mock-up production
– Provide resources for the development of early stage product concepts
8 Stage IV
Prune
• How do we assess ideas?– Micro-market outlook• What is size and behavior of target market?
– Macro-market outlook• Is broader market growing or shrinking?
– Appropriability of industry– Team• Fitness of team to tasks• Gaps in team’s skill sets, resources
9 Stage V
Prune
• Stage V Program– Education• Opportunity Assessment
• Testing a business idea for the most common opportunity-related reasons for failure: market reasons, industry reasons, and entrepreneurial team reasons
• Resource: The New Business Road Test, by John Mullins
10 Stage V
Grow
• Prepare the business plan– Internal and external experts advise on key subject
areas– Corporate innovation group works closely with
Program Champion through completion• Upgrade mock-up to beta version (if
applicable)• Recruit potential team members
11 Stage VI
Grow
• Stage VI Program– Development• Beta-version production
– Provide resources for development of beta version
• Business Plan Consultants– Organize community of internal and external experts who can
advise on all subject areas of the business plan
12 Stage VI
Produce
• Launch the business• Manage its growth• Guide to profitability• Increase autonomy with success
13 Stage VII
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