innovation myth buster at target innovaiton network nov 2009
Post on 21-Oct-2014
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DESCRIPTION
Introduction to Innovation for Target's Innovation Network. Challenging innovation myths is the first step to adopting a wider perspective that will allow anyone in your organization to innovate. This fast-paced, multi-modal experience will engage you to learn more about innovation thinking, while exploring assumptions, and building innovation strategies and synergy to achieve breakthrough results. Together we will bust FIVE common innovation myths and open the door to greater opportunity!TRANSCRIPT
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Meeting Outcomes
● Understand 5 common innovation myths
● Learn and practice simple innovation strategies
● Be ENGAGED and have FUN!
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Meeting Impact
● Feel excited and confident about applying simple innovation strategies in your work
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Meet Natasha, knowledge integrator
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once designed and managed
products that could blow up...
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loves to solve problems and help
people do the impossible…
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Meet Jackie, process integrator
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once started a company…
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loves facilitating group process and
inspiring quality collaboration…
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IN-Vision Innovation Practice
Leadership
FUNctional Frameworks for bridging the gap
from creativity to innovation
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What keeps you up at
night?
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● Innovation
● Functions
● Price
● Quality
● Green
● Timeless Performance
● Technology
● Personal (Emotional)
Competitive Brand Positions
Reference: Motorola’s BASP
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Where is Target on innovation?
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Calibration
● Where is Target?: 0 (low) to 5 (High)
FIST (0) FIVE (5)
LOW HIGH
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Where are YOU on innovation?
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Calibration
● Where are YOU?: 0 (Novice) to 5 (Guru)
FIST (0) FIVE (5)
Novice Guru
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Only a few people can innovate
Innovation Myth #1
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INNOVATION = IDEAS + ACTION THAT CREATES VALUE
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Personal Professional Enterprise
Self
Family
Friends
Self
Colleagues
Clients
Vendors
Workmates
Corporation
Association
Foundation
Schools
Innovation Value Domains
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Anyone can innovate
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Everyone is a customer
=
Matt hates standing in line for beer Created TurboTap (faster pours)
Outcomes: Taste fresher; Installed in 60% of professional stadiums
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Innovators are Integrators
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http://mindfulinnovation.com/resources/
Commit to doing simple value-added
innovation activities
Download
InnovationsBYTES
10-minute practice guide
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Innovation Myth #1
Only a few people can innovate
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Fear factor?
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How comfortable are you
exploring new ideas?
Mindset: “Notice without Judgment”
On the continuum:
● 1 = Risk Avoidant
● 2 = Cautious
● 3 = Curious
● 4 = Cliff Diver
1 4
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Lots of ideas is THE way to innovation
Innovation Myth #2
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THE way to innovation is through a disruptive or different idea
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Think of GOOD IDEAS
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Think of CRAZY IDEAS
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Think of Stupid IDEAS
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Think of FUNNY IDEAS
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What happens in your brain?
● Good Ideas – Information dump of what you know
● Crazy Ideas – Left brain
● Stupid Ideas – Right brain
● Funny Ideas – Both sides of brain (most innovative)
Reference: Business Innovation in the 21st Century by Praveen Gupta
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Extent of Innovation
Good Crazy Stupid Funny
Combining two or more
ideas uniquely takes time
ThinkingTime (min)
Per Idea
Reference: Business Innovation in the 21st Century by Praveen Gupta
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What stops us from discovering disruptive ideas?
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1. Vision
2. Foresight
3. Stretch Goals
4. Hire Good People and Trust Them
5. Open and Extensive Communication
6. Recognize and Reward Innovation
by Dr. William Coyne past VP of R&D of 3M
Creating a Tradition of Innovation
Important to● Manage fear
and risk taking
● To be able to fail faster
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Fear Factor?
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Innovation Myth #2Lots of ideas is THE way to innovation
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What is your ME to WE scale?
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Where are you on ME to WE?
Mindset: “Notice without Judgment”
On the continuum:
● 1 = Best work by myself
● 2 = Best work by myself with some collaboration
● 3 = Best work in team(s) with some by myself
● 4 = Best work in diverse team(s)
1 4
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Innovation Myth #3 The BEST problem solving is typically done alone
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Synergy is the energy of innovation
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Activity
More
Intense
Less
Intense
Group Size1 3 5 10 18
Creating an Invention
Solving a Problem
Action Planning
Scheduling
Sharing
Information
Optimal Team Size
Reference: Team Talk: The Power of Language in Team Dynamics by Anne Donnellon
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Collaboration Factor?
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Innovation Myth #3 The BEST problem solving is typically done alone
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Innovation is “to build a better mousetrap” of products and services
Innovation Myth #4
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The Ten Types of Innovation™● Innovation category: Finance● Business model
● Networks and alliances
● Innovation category: Process● Enabling process
● Core processes
● Innovation category: Offerings● Product performance● Product system
● Service
● Innovation category: Delivery● Channel● Brand
● Customer experience
Resource: http://www.doblin.com/AboutInno/innotypes.html
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VoIP for free
1.Business model
2.Enabling process
3.Core processes
4.Channel
Outcomes: 309 Million Users and $125M in 2008
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Designer T-shirt contest
Designer
have idea
Submit Idea Vote by
customers
Designer win
money and
recognizing
1.Business model
2.Networks and alliances
3.Product system
4.Customer experience
Outcome: $43 M in 2008
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How many types of innovation are YOU doing?
… is Target doing?
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The Ten Types of Innovation™● Innovation category: Finance● Business model
● Networks and alliances
● Innovation category: Process● Enabling process
● Core processes
● Innovation category: Offerings● Product performance● Product system
● Service
● Innovation category: Delivery● Channel● Brand
● Customer experience
Resource: http://www.doblin.com/AboutInno/innotypes.html
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Innovation Myth #4
Innovation is “to build a better mousetrap” of products and services
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Innovation Myth #5 Figuring out the solution takes most of the innovation effort
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Figuring out the PROBLEM takes most of innovation effort
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95% of the effort
should be in
defining the
problem
Define
Explore
Solve
Analyze
Develop
Prepare
Execute
MOST ENTER HERE
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Define
Explore
How can you do a
better job definite
the problem?Solve
Analyze
Develop
Prepare
Execute
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Need “Fresher” in Frozen Foods
Joan Chow
Outcomes: 2008 3rd largest new consumer packaged goods (CPG) product at 95M
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How much time and effort do YOU spend creating “White Space?”
… does Target spend?
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Innovation Myth #5 Figuring out the solution takes most of the innovation effort
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What will YOU do to innovate?
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Questions and
Comments?
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Thank You!
Presentation at http://www.slideshare.net/mindfulinnovation
Natasha TongC:612.770.7110E: [email protected]
Jackie LevinC:612.759.7549 E: [email protected]
MINDFUL INNOVATION, INC.
www.mindfulinnovation.com