SlideShare ist ein Scribd-Unternehmen logo
1 von 22
Downloaden Sie, um offline zu lesen
Creating An
Innovation Strategy
RDM Management Group
Ron Pickett MBA, CMC
WHO IS THE GREATER INNOVATOR ?
THOMAS EDISON STEVE JOBS
RDM Management Group
2
WHY CREATE AN INNOVATION STRATEGY
 Many executives believe that innovation is critical for
success … many have deep concerns about their firm’s
ability to innovate effectively … they do not have a formal
innovation strategy
• A recent study found that only one in five chief
executives believes his strategic investments in
innovation are paying off… (Bloomberg Business Week,
2013)
• Canada has a poor innovation record, ranking 13 out of
the 16 OECD countries (Conference Board of Canada,
2014)
3RDM Management Group
WHY CREATE AN INNOVATION STRATEGY
 Innovation does not require a revolution inside
companies
 Innovation is not alchemy, with mystifying
transformations …its more like the basic
tackling of other key business functions
 How you innovate determines what you innovate
 Strategic advantage
4RDM Management Group
SEVEN INNOVATION OBSTACLES
1. Concentration on daily business / short-term goals
2. Current products and processes are not put into
question
3. Lack of collaboration between departments (silos)
4. Risk aversion
5. Management does not support innovation enough
6. Innovation strategy, process, idea management not
existing, not clear and/or not communicated
7. Budget- and/or resource limitations
5RDM Management Group
WHAT IS AN INNOVATION STRATEGY?
 An integrated structure, formal processes,
and tools for an innovation growth strategy
 Includes an organizational design,
management systems, performance
evaluation metrics, people, HR policies, and
rewards
 Links to the business strategy
6
RDM Management Group
WHAT IS INNOVATION?
 Innovation occurs when a company makes
changes to the major technologies or business
model for the products and services it markets
7RDM Management Group
INNOVATION DRIVERS
 Business model change drivers
 Value proposition – what you sell
 Value networks – how you sell it
 Target customer – who you sell to
 Technology change drivers
 Products and service offerings
 Process technologies
 Enabling technologies
 Three types of innovation
 incremental, semi-radical, and radical
8RDM Management Group
INNOVATION STRATEGY PLANNING MATRIX
RDM Management Group
9
Business model drivers Technology drivers
Value
proposition
Value chain
Value
proposition
Target
customer
Product &
service
Process
technology
Enabling
technology
Incremental Small changes in one or more of the six levers
Semi radical
Business model driven
Radical
Significant change in one or
more of the three levers
Small change in one or
more of the three levers
Semi radical
Technology driven
Small change in one or
more of the three levers
Significant change in one or
more of the three levers
Significant change in one or
more of the three levers
Significant change in one or
more of the three levers
Innovation types
INNOVATION STRATEGIES
 Innovation strategy must align with the business strategy
 Play Not to Lose (PNTL) – Incremental innovation
 Protect and maintain market share
 Combat margin erosion
 Play to Win (PTW) – Semi radical and radical innovation
 Maintain market leadership
 Market makers, new industries
 Drives growth
 Brand building
 Ideal strategy balances PNTL and PTW
 Play to Fail (PTF) is not having an innovation strategy
10
RDM Management Group
INNOVATION STRATEGY PLANNING MATRIX
Business model drivers Technology drivers
Innovation types
Incremental Banks, Utilities,
Government,
TQM, ISO 9000, Oligopolies
Cellular Wireless
Approximately 80% of all
innovation
Semi radical
Business model
driven
Dell, SW Airlines, Walmart,
IBM, Salesforce.com, Virgin
Semi radical
Technology driven
Mobile phones, automobiles,
Radical Amazon, Google, Apple, Facebook, Henry Ford
Walmart, Bit Coin, Apollo Group – Online Education, Virgin,
Cloud Computing
Value
proposition
Value
chain
Target
customer
Product &
service
Process
technology
Enabling
technology
11
RDM Management Group
PLAY TO FAIL
 … RIM/Blackberry, Nokia, Motorola, Kodak,
Sears, Blockbuster Video, Sun
Microsystems, DEC, Eatons, Simpsons …
12RDM Management Group
INNOVATION MATRIX
Semi Radical
Technology
Automobiles
Mobile telephones
Radical
Apple
Google
Amazon
Virgin
Bit Coin
Cloud Computing
Incremental
Oligopolies
Banks
Utilities
Cellular Wireless Companies
80% of innovation
Semi Radical
Business
Dell
SW Airlines
Walmart
IBM
Salesforce.com
Business Model
T
e
c
h
n
o
l
o
g
y
13RDM Management Group
INNOVATION STRATEGY
Assess
Drivers
• Business – What, How, Who you Sell to
• Technology – Product, Process, Enabler
Select
Strategy
• Play Not to Lose
• Play to Win
• Combination
Manage
Innovation
Portfolio
• Incremental
• Semi Radical
• Radical
14
RDM Management Group
LEADERSHIP
 Sets the vision
 Leads the innovation strategy
 Align the innovation and business strategy
 Engrain the innovation strategy into the corporate culture
 Create innovation networks of intrapreneurs inside and
outside the company
 Correct metrics and motivators
 Risk tolerance
 Overcome internal organizational resistance
 Freeing up appropriate budget
 Be aware and overcome complacency that innovation
success creates
15RDM Management Group
Innovation Pyramid
An Innovation
Strategy provides:
 Increased profits
 Branding
 Market Leadership
 High performance
work teams
 Learning innovative
culture
 Real competitive
advantage
16
RDM Management Group
NEXT STEPS
1. Exert strong leadership and determine the innovation
strategy that fits the business strategy, competitive
environment, and innovation competencies
 PNTL, PTW, or a balance
 Assess the innovation climate, run a cultural
diagnosis on creativity and value capture
2. Develop innovation platforms for different innovation
types – six business and technology drivers
 Incremental, semi radical, radical
 Structure company and organizing management
systems to promote innovation
3. Create portfolios for each platform including idea
generation and gating – find the right balance
17RDM Management Group
NEXT STEPS
5. Define internal and external resource
requirements
6. Ensure internal innovation platforms have
diverse creative and commercialization
resources working in harmony
7. Create balanced scorecard metrics and
rewards supporting the innovation strategy
8. Overcome any internal resistance to change
subverting creativity and commercialization
9. Celebrate successes and embed innovation
throughout the corporate culture
18RDM Management Group
HOW CAN RDM ?
 An engagement is typically a number of facilitation
workshops and stakeholder interviews, walking a
leadership team through the 8 steps
 Deals with leadership requirements, strategy, structure,
resources, management systems, processes,
performance metrics, project management discipline,
measurement and incentive rewards – organizational
structure and culture
 Document and present workshop/interview results,
clarify, finalize, act, and move to next step
 Similar to the strategic planning process
19RDM Management Group
THE INNOVATION PROCESS
RDM Management Group
20
THE INNOVATION PROCESS
RDM Management Group 21
Questions?
RDM Management Group

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

What is Strategic Innovation?
What is Strategic Innovation?What is Strategic Innovation?
What is Strategic Innovation?
 
Growth Strategy
Growth StrategyGrowth Strategy
Growth Strategy
 
Value creation
Value creationValue creation
Value creation
 
Innovation
InnovationInnovation
Innovation
 
Innovators Dilemma by Clayton Christensen
Innovators Dilemma by Clayton ChristensenInnovators Dilemma by Clayton Christensen
Innovators Dilemma by Clayton Christensen
 
Innovation Mangement
Innovation MangementInnovation Mangement
Innovation Mangement
 
Innovation Theories & Models | 2016
Innovation Theories & Models | 2016Innovation Theories & Models | 2016
Innovation Theories & Models | 2016
 
Blue Ocean Strategy
Blue Ocean StrategyBlue Ocean Strategy
Blue Ocean Strategy
 
Lesson 18: Competitive Analysis
Lesson 18: Competitive AnalysisLesson 18: Competitive Analysis
Lesson 18: Competitive Analysis
 
The innovator's dilemma
The innovator's dilemmaThe innovator's dilemma
The innovator's dilemma
 
Five steps of startup go to-market
Five steps of startup go to-marketFive steps of startup go to-market
Five steps of startup go to-market
 
Marketing strategy and Plan Template
Marketing strategy and Plan TemplateMarketing strategy and Plan Template
Marketing strategy and Plan Template
 
Innovation Strategy
Innovation StrategyInnovation Strategy
Innovation Strategy
 
Growth Strategy
Growth StrategyGrowth Strategy
Growth Strategy
 
Innovation funnel version 3.0
Innovation funnel version 3.0Innovation funnel version 3.0
Innovation funnel version 3.0
 
Strategy Execution
Strategy Execution Strategy Execution
Strategy Execution
 
Business Transformation and Innovation
Business Transformation and InnovationBusiness Transformation and Innovation
Business Transformation and Innovation
 
Innovation
InnovationInnovation
Innovation
 
Creating An Effective Business Development Strategy
Creating An Effective Business Development StrategyCreating An Effective Business Development Strategy
Creating An Effective Business Development Strategy
 
The Process of Innovation
The Process of InnovationThe Process of Innovation
The Process of Innovation
 

Andere mochten auch

Aligning innovation with strategy
Aligning innovation with strategyAligning innovation with strategy
Aligning innovation with strategyJeffrey Phillips
 
2016 - Developang the Framework for an Innovation Strategy
2016 - Developang the Framework for an Innovation Strategy2016 - Developang the Framework for an Innovation Strategy
2016 - Developang the Framework for an Innovation StrategyNadia Lushchak
 
Innovation Strategy Deep Dive
Innovation Strategy Deep DiveInnovation Strategy Deep Dive
Innovation Strategy Deep DiveThe Inovo Group
 
Management tools
Management toolsManagement tools
Management toolsmaelwardany
 
The Power of Storytelling - The Execution Shortcut
The Power of Storytelling - The Execution ShortcutThe Power of Storytelling - The Execution Shortcut
The Power of Storytelling - The Execution ShortcutJeroen De Flander
 
Excellence in Execution with speakers notes
Excellence in Execution with speakers notesExcellence in Execution with speakers notes
Excellence in Execution with speakers notesRobin Speculand
 
Book - Thesis-draft 05- FINAL 2015-12-10
Book - Thesis-draft 05- FINAL 2015-12-10Book - Thesis-draft 05- FINAL 2015-12-10
Book - Thesis-draft 05- FINAL 2015-12-10Msizi Mkhize
 
Strategy Execution Masterclass Jeroen De Flander Nyenrode
Strategy Execution Masterclass Jeroen De Flander NyenrodeStrategy Execution Masterclass Jeroen De Flander Nyenrode
Strategy Execution Masterclass Jeroen De Flander NyenrodeJeroen De Flander
 
Peex Consulting Services
Peex Consulting ServicesPeex Consulting Services
Peex Consulting ServicesMohammad Hijazi
 
Strategy Execution at Strategy Leaders Qatar_Jeroen De Flander
Strategy Execution at Strategy Leaders Qatar_Jeroen De FlanderStrategy Execution at Strategy Leaders Qatar_Jeroen De Flander
Strategy Execution at Strategy Leaders Qatar_Jeroen De FlanderJeroen De Flander
 
Microsoft innovation framework
Microsoft innovation frameworkMicrosoft innovation framework
Microsoft innovation frameworkguitartp
 
Why Strategy Fails...and How You Can Make it Work
Why Strategy Fails...and How You Can Make it WorkWhy Strategy Fails...and How You Can Make it Work
Why Strategy Fails...and How You Can Make it Workleepublish
 
Balanced Scorecard Master Class pdf
Balanced Scorecard Master Class pdf Balanced Scorecard Master Class pdf
Balanced Scorecard Master Class pdf Jeroen De Flander
 
Optimized Plant Construction (project execution excellence for on-time and on...
Optimized Plant Construction (project execution excellence for on-time and on...Optimized Plant Construction (project execution excellence for on-time and on...
Optimized Plant Construction (project execution excellence for on-time and on...Nilanjan Bandyopadhyay
 
Business Strategy Innovation
Business Strategy InnovationBusiness Strategy Innovation
Business Strategy InnovationBraden Kelley
 
Execution Excellence @ HR By Naveen Bhatia Bharti
Execution Excellence @ HR By Naveen Bhatia BhartiExecution Excellence @ HR By Naveen Bhatia Bharti
Execution Excellence @ HR By Naveen Bhatia BhartiNational HRD Network
 
Strategic Innovation Process
Strategic Innovation ProcessStrategic Innovation Process
Strategic Innovation ProcessCijo Abraham Mani
 
How to manage the innovation strategy process with the support of a smart cro...
How to manage the innovation strategy process with the support of a smart cro...How to manage the innovation strategy process with the support of a smart cro...
How to manage the innovation strategy process with the support of a smart cro...Rui Patricio
 

Andere mochten auch (20)

Aligning innovation with strategy
Aligning innovation with strategyAligning innovation with strategy
Aligning innovation with strategy
 
2016 - Developang the Framework for an Innovation Strategy
2016 - Developang the Framework for an Innovation Strategy2016 - Developang the Framework for an Innovation Strategy
2016 - Developang the Framework for an Innovation Strategy
 
Customer Service Strategy
Customer Service StrategyCustomer Service Strategy
Customer Service Strategy
 
Innovation Strategy Deep Dive
Innovation Strategy Deep DiveInnovation Strategy Deep Dive
Innovation Strategy Deep Dive
 
Management tools
Management toolsManagement tools
Management tools
 
The Power of Storytelling - The Execution Shortcut
The Power of Storytelling - The Execution ShortcutThe Power of Storytelling - The Execution Shortcut
The Power of Storytelling - The Execution Shortcut
 
Excellence in Execution with speakers notes
Excellence in Execution with speakers notesExcellence in Execution with speakers notes
Excellence in Execution with speakers notes
 
point of sale excecution
point of sale excecutionpoint of sale excecution
point of sale excecution
 
Book - Thesis-draft 05- FINAL 2015-12-10
Book - Thesis-draft 05- FINAL 2015-12-10Book - Thesis-draft 05- FINAL 2015-12-10
Book - Thesis-draft 05- FINAL 2015-12-10
 
Strategy Execution Masterclass Jeroen De Flander Nyenrode
Strategy Execution Masterclass Jeroen De Flander NyenrodeStrategy Execution Masterclass Jeroen De Flander Nyenrode
Strategy Execution Masterclass Jeroen De Flander Nyenrode
 
Peex Consulting Services
Peex Consulting ServicesPeex Consulting Services
Peex Consulting Services
 
Strategy Execution at Strategy Leaders Qatar_Jeroen De Flander
Strategy Execution at Strategy Leaders Qatar_Jeroen De FlanderStrategy Execution at Strategy Leaders Qatar_Jeroen De Flander
Strategy Execution at Strategy Leaders Qatar_Jeroen De Flander
 
Microsoft innovation framework
Microsoft innovation frameworkMicrosoft innovation framework
Microsoft innovation framework
 
Why Strategy Fails...and How You Can Make it Work
Why Strategy Fails...and How You Can Make it WorkWhy Strategy Fails...and How You Can Make it Work
Why Strategy Fails...and How You Can Make it Work
 
Balanced Scorecard Master Class pdf
Balanced Scorecard Master Class pdf Balanced Scorecard Master Class pdf
Balanced Scorecard Master Class pdf
 
Optimized Plant Construction (project execution excellence for on-time and on...
Optimized Plant Construction (project execution excellence for on-time and on...Optimized Plant Construction (project execution excellence for on-time and on...
Optimized Plant Construction (project execution excellence for on-time and on...
 
Business Strategy Innovation
Business Strategy InnovationBusiness Strategy Innovation
Business Strategy Innovation
 
Execution Excellence @ HR By Naveen Bhatia Bharti
Execution Excellence @ HR By Naveen Bhatia BhartiExecution Excellence @ HR By Naveen Bhatia Bharti
Execution Excellence @ HR By Naveen Bhatia Bharti
 
Strategic Innovation Process
Strategic Innovation ProcessStrategic Innovation Process
Strategic Innovation Process
 
How to manage the innovation strategy process with the support of a smart cro...
How to manage the innovation strategy process with the support of a smart cro...How to manage the innovation strategy process with the support of a smart cro...
How to manage the innovation strategy process with the support of a smart cro...
 

Ähnlich wie Creating an Innovation Strategy

Introduction to operations and logistics management
Introduction to operations and logistics managementIntroduction to operations and logistics management
Introduction to operations and logistics managementTeguh Siswanto
 
Understanding strategy in innovation and technology oriented business 3M
Understanding strategy in innovation and technology oriented business 3MUnderstanding strategy in innovation and technology oriented business 3M
Understanding strategy in innovation and technology oriented business 3MGundu Durgarao
 
Understanding strategy in innovation and technology oriented business
Understanding strategy in innovation and technology oriented businessUnderstanding strategy in innovation and technology oriented business
Understanding strategy in innovation and technology oriented businessDurgarao Gundu
 
Building a High Performance Business
Building a High Performance BusinessBuilding a High Performance Business
Building a High Performance BusinessRussell Cummings
 
Building a High Performance Business
Building a High Performance BusinessBuilding a High Performance Business
Building a High Performance BusinessRussell Cummings
 
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...Optimizely
 
Plantes Keynote Address to CMOs
Plantes Keynote Address to CMOsPlantes Keynote Address to CMOs
Plantes Keynote Address to CMOsMary Kay Plantes
 
Innovation Moves Strategy V2. No Slide Photos
Innovation Moves Strategy V2. No Slide PhotosInnovation Moves Strategy V2. No Slide Photos
Innovation Moves Strategy V2. No Slide Photossmedem
 
Congressman John Garamendi Manufacturing Forum
Congressman John Garamendi Manufacturing ForumCongressman John Garamendi Manufacturing Forum
Congressman John Garamendi Manufacturing ForumGene Russell
 
2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn WintrichNUI Galway
 
Utilising Talent Acquisition Technology to Drive Impact in the APAC Region
Utilising Talent Acquisition Technology to Drive Impact in the APAC RegionUtilising Talent Acquisition Technology to Drive Impact in the APAC Region
Utilising Talent Acquisition Technology to Drive Impact in the APAC RegionCielo
 
What is strategy (002)
What is strategy (002)What is strategy (002)
What is strategy (002)nidhi7081
 
Map your best_route_to_product_value_ebook
Map your best_route_to_product_value_ebookMap your best_route_to_product_value_ebook
Map your best_route_to_product_value_ebookdynamicscom
 
Innovation Framework For Manufacturing (With Addendum)
Innovation Framework For Manufacturing (With Addendum)Innovation Framework For Manufacturing (With Addendum)
Innovation Framework For Manufacturing (With Addendum)johncleveland
 
Positioning Digital Innovation Within the Enterprise
Positioning Digital Innovation Within the EnterprisePositioning Digital Innovation Within the Enterprise
Positioning Digital Innovation Within the EnterpriseScottMadden, Inc.
 
Slides99 Strategy & Organization
Slides99 Strategy & OrganizationSlides99 Strategy & Organization
Slides99 Strategy & Organizationguestf32b7
 

Ähnlich wie Creating an Innovation Strategy (20)

Introduction to operations and logistics management
Introduction to operations and logistics managementIntroduction to operations and logistics management
Introduction to operations and logistics management
 
Understanding strategy in innovation and technology oriented business 3M
Understanding strategy in innovation and technology oriented business 3MUnderstanding strategy in innovation and technology oriented business 3M
Understanding strategy in innovation and technology oriented business 3M
 
Understanding strategy in innovation and technology oriented business
Understanding strategy in innovation and technology oriented businessUnderstanding strategy in innovation and technology oriented business
Understanding strategy in innovation and technology oriented business
 
Building a High Performance Business
Building a High Performance BusinessBuilding a High Performance Business
Building a High Performance Business
 
Building a High Performance Business
Building a High Performance BusinessBuilding a High Performance Business
Building a High Performance Business
 
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...
Make Every Touchpoint Count: How to Drive Revenue in an Increasingly Online W...
 
MIT 323_3 Drivers of Technological Change.pptx
MIT 323_3 Drivers of Technological Change.pptxMIT 323_3 Drivers of Technological Change.pptx
MIT 323_3 Drivers of Technological Change.pptx
 
Plantes Keynote Address to CMOs
Plantes Keynote Address to CMOsPlantes Keynote Address to CMOs
Plantes Keynote Address to CMOs
 
Innovation Moves Strategy V2. No Slide Photos
Innovation Moves Strategy V2. No Slide PhotosInnovation Moves Strategy V2. No Slide Photos
Innovation Moves Strategy V2. No Slide Photos
 
BLS old.ppt
BLS old.pptBLS old.ppt
BLS old.ppt
 
Congressman John Garamendi Manufacturing Forum
Congressman John Garamendi Manufacturing ForumCongressman John Garamendi Manufacturing Forum
Congressman John Garamendi Manufacturing Forum
 
2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich2014.01.30 Innovation overview by Glenn Wintrich
2014.01.30 Innovation overview by Glenn Wintrich
 
Utilising Talent Acquisition Technology to Drive Impact in the APAC Region
Utilising Talent Acquisition Technology to Drive Impact in the APAC RegionUtilising Talent Acquisition Technology to Drive Impact in the APAC Region
Utilising Talent Acquisition Technology to Drive Impact in the APAC Region
 
What is strategy (002)
What is strategy (002)What is strategy (002)
What is strategy (002)
 
What is strategy (002)
What is strategy (002)What is strategy (002)
What is strategy (002)
 
Map your best_route_to_product_value_ebook
Map your best_route_to_product_value_ebookMap your best_route_to_product_value_ebook
Map your best_route_to_product_value_ebook
 
Cbe session 1
Cbe   session 1Cbe   session 1
Cbe session 1
 
Innovation Framework For Manufacturing (With Addendum)
Innovation Framework For Manufacturing (With Addendum)Innovation Framework For Manufacturing (With Addendum)
Innovation Framework For Manufacturing (With Addendum)
 
Positioning Digital Innovation Within the Enterprise
Positioning Digital Innovation Within the EnterprisePositioning Digital Innovation Within the Enterprise
Positioning Digital Innovation Within the Enterprise
 
Slides99 Strategy & Organization
Slides99 Strategy & OrganizationSlides99 Strategy & Organization
Slides99 Strategy & Organization
 

Mehr von Arikrishnan Subramanian

How to be a Successful Forex Trader in Malaysia?
How to be a Successful Forex Trader in Malaysia?How to be a Successful Forex Trader in Malaysia?
How to be a Successful Forex Trader in Malaysia?Arikrishnan Subramanian
 
Financing & Facilities for Malaysia MSME under Covid19 Stimulation Packages
Financing & Facilities for Malaysia MSME under Covid19 Stimulation PackagesFinancing & Facilities for Malaysia MSME under Covid19 Stimulation Packages
Financing & Facilities for Malaysia MSME under Covid19 Stimulation PackagesArikrishnan Subramanian
 
How malaysian could graduate free of charge
How malaysian could graduate free of chargeHow malaysian could graduate free of charge
How malaysian could graduate free of chargeArikrishnan Subramanian
 
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?What Challenges Does Malaysia Face in the Next Stage of E-Commerce?
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?Arikrishnan Subramanian
 
MiBrand Business Magazine - Cybersecurity Special Edition
MiBrand Business Magazine - Cybersecurity Special EditionMiBrand Business Magazine - Cybersecurity Special Edition
MiBrand Business Magazine - Cybersecurity Special EditionArikrishnan Subramanian
 
MIBrand Business Magazine Issue 5 Focusing on ECommerce
MIBrand Business Magazine Issue 5 Focusing on ECommerceMIBrand Business Magazine Issue 5 Focusing on ECommerce
MIBrand Business Magazine Issue 5 Focusing on ECommerceArikrishnan Subramanian
 
5 traits money making entrepreneurs pose
5 traits money making entrepreneurs pose5 traits money making entrepreneurs pose
5 traits money making entrepreneurs poseArikrishnan Subramanian
 
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?Arikrishnan Subramanian
 
Chanakya's 7 Element of Business Success
Chanakya's 7 Element of Business SuccessChanakya's 7 Element of Business Success
Chanakya's 7 Element of Business SuccessArikrishnan Subramanian
 

Mehr von Arikrishnan Subramanian (20)

How to be a Successful Forex Trader in Malaysia?
How to be a Successful Forex Trader in Malaysia?How to be a Successful Forex Trader in Malaysia?
How to be a Successful Forex Trader in Malaysia?
 
TOP 30 WORLD’S MOST LOVED BRANDS
TOP 30 WORLD’S MOST LOVED BRANDSTOP 30 WORLD’S MOST LOVED BRANDS
TOP 30 WORLD’S MOST LOVED BRANDS
 
Financing & Facilities for Malaysia MSME under Covid19 Stimulation Packages
Financing & Facilities for Malaysia MSME under Covid19 Stimulation PackagesFinancing & Facilities for Malaysia MSME under Covid19 Stimulation Packages
Financing & Facilities for Malaysia MSME under Covid19 Stimulation Packages
 
How malaysian could graduate free of charge
How malaysian could graduate free of chargeHow malaysian could graduate free of charge
How malaysian could graduate free of charge
 
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?What Challenges Does Malaysia Face in the Next Stage of E-Commerce?
What Challenges Does Malaysia Face in the Next Stage of E-Commerce?
 
MiBrand Business Magazine - Cybersecurity Special Edition
MiBrand Business Magazine - Cybersecurity Special EditionMiBrand Business Magazine - Cybersecurity Special Edition
MiBrand Business Magazine - Cybersecurity Special Edition
 
MIBrand Business Magazine Issue 5 Focusing on ECommerce
MIBrand Business Magazine Issue 5 Focusing on ECommerceMIBrand Business Magazine Issue 5 Focusing on ECommerce
MIBrand Business Magazine Issue 5 Focusing on ECommerce
 
MiBrand Business Magazine Issue 4
MiBrand Business Magazine Issue 4MiBrand Business Magazine Issue 4
MiBrand Business Magazine Issue 4
 
MiBrand Business Magazine Issue 3 2018
MiBrand Business Magazine Issue 3 2018MiBrand Business Magazine Issue 3 2018
MiBrand Business Magazine Issue 3 2018
 
MiBrand Business Magazine Issue 1
MiBrand Business Magazine Issue 1MiBrand Business Magazine Issue 1
MiBrand Business Magazine Issue 1
 
Finding money with business plan
Finding money with business planFinding money with business plan
Finding money with business plan
 
5 traits money making entrepreneurs pose
5 traits money making entrepreneurs pose5 traits money making entrepreneurs pose
5 traits money making entrepreneurs pose
 
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?
GAME PLANS TO MAINTAIN POSITIVE BUSINESS CASH FLOW?
 
Chanakya's 7 Element of Business Success
Chanakya's 7 Element of Business SuccessChanakya's 7 Element of Business Success
Chanakya's 7 Element of Business Success
 
MOST POWERFUL PERSONS IN MUSIC INDUSTRY
MOST POWERFUL PERSONS IN MUSIC INDUSTRYMOST POWERFUL PERSONS IN MUSIC INDUSTRY
MOST POWERFUL PERSONS IN MUSIC INDUSTRY
 
WORLD's MOST PEACEFUL COUNTRIES 2014
WORLD's MOST PEACEFUL COUNTRIES 2014WORLD's MOST PEACEFUL COUNTRIES 2014
WORLD's MOST PEACEFUL COUNTRIES 2014
 
TOP 10 WEALTHIEST CHARITY FOUNDATION
TOP 10 WEALTHIEST CHARITY FOUNDATIONTOP 10 WEALTHIEST CHARITY FOUNDATION
TOP 10 WEALTHIEST CHARITY FOUNDATION
 
10 WORLD'S OLDEST SURVIVING BUSINESS
10 WORLD'S OLDEST SURVIVING BUSINESS 10 WORLD'S OLDEST SURVIVING BUSINESS
10 WORLD'S OLDEST SURVIVING BUSINESS
 
WORLD's MOST POWERFUL LEADERS
WORLD's MOST POWERFUL LEADERSWORLD's MOST POWERFUL LEADERS
WORLD's MOST POWERFUL LEADERS
 
9 Habits of Highly CREATIVE PEOPLE
9 Habits of Highly CREATIVE PEOPLE9 Habits of Highly CREATIVE PEOPLE
9 Habits of Highly CREATIVE PEOPLE
 

Kürzlich hochgeladen

NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfAnhNguyen97152
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxJemalSeid25
 
Mihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZMihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZKanakChauhan5
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfJohnCarloValencia4
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.mcshagufta46
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examplesamberjiles31
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsP&CO
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 

Kürzlich hochgeladen (20)

NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptx
 
Mihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZMihir Menda - Member of Supervisory Board at RMZ
Mihir Menda - Member of Supervisory Board at RMZ
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examples
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizations
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 

Creating an Innovation Strategy

  • 1. Creating An Innovation Strategy RDM Management Group Ron Pickett MBA, CMC
  • 2. WHO IS THE GREATER INNOVATOR ? THOMAS EDISON STEVE JOBS RDM Management Group 2
  • 3. WHY CREATE AN INNOVATION STRATEGY  Many executives believe that innovation is critical for success … many have deep concerns about their firm’s ability to innovate effectively … they do not have a formal innovation strategy • A recent study found that only one in five chief executives believes his strategic investments in innovation are paying off… (Bloomberg Business Week, 2013) • Canada has a poor innovation record, ranking 13 out of the 16 OECD countries (Conference Board of Canada, 2014) 3RDM Management Group
  • 4. WHY CREATE AN INNOVATION STRATEGY  Innovation does not require a revolution inside companies  Innovation is not alchemy, with mystifying transformations …its more like the basic tackling of other key business functions  How you innovate determines what you innovate  Strategic advantage 4RDM Management Group
  • 5. SEVEN INNOVATION OBSTACLES 1. Concentration on daily business / short-term goals 2. Current products and processes are not put into question 3. Lack of collaboration between departments (silos) 4. Risk aversion 5. Management does not support innovation enough 6. Innovation strategy, process, idea management not existing, not clear and/or not communicated 7. Budget- and/or resource limitations 5RDM Management Group
  • 6. WHAT IS AN INNOVATION STRATEGY?  An integrated structure, formal processes, and tools for an innovation growth strategy  Includes an organizational design, management systems, performance evaluation metrics, people, HR policies, and rewards  Links to the business strategy 6 RDM Management Group
  • 7. WHAT IS INNOVATION?  Innovation occurs when a company makes changes to the major technologies or business model for the products and services it markets 7RDM Management Group
  • 8. INNOVATION DRIVERS  Business model change drivers  Value proposition – what you sell  Value networks – how you sell it  Target customer – who you sell to  Technology change drivers  Products and service offerings  Process technologies  Enabling technologies  Three types of innovation  incremental, semi-radical, and radical 8RDM Management Group
  • 9. INNOVATION STRATEGY PLANNING MATRIX RDM Management Group 9 Business model drivers Technology drivers Value proposition Value chain Value proposition Target customer Product & service Process technology Enabling technology Incremental Small changes in one or more of the six levers Semi radical Business model driven Radical Significant change in one or more of the three levers Small change in one or more of the three levers Semi radical Technology driven Small change in one or more of the three levers Significant change in one or more of the three levers Significant change in one or more of the three levers Significant change in one or more of the three levers Innovation types
  • 10. INNOVATION STRATEGIES  Innovation strategy must align with the business strategy  Play Not to Lose (PNTL) – Incremental innovation  Protect and maintain market share  Combat margin erosion  Play to Win (PTW) – Semi radical and radical innovation  Maintain market leadership  Market makers, new industries  Drives growth  Brand building  Ideal strategy balances PNTL and PTW  Play to Fail (PTF) is not having an innovation strategy 10 RDM Management Group
  • 11. INNOVATION STRATEGY PLANNING MATRIX Business model drivers Technology drivers Innovation types Incremental Banks, Utilities, Government, TQM, ISO 9000, Oligopolies Cellular Wireless Approximately 80% of all innovation Semi radical Business model driven Dell, SW Airlines, Walmart, IBM, Salesforce.com, Virgin Semi radical Technology driven Mobile phones, automobiles, Radical Amazon, Google, Apple, Facebook, Henry Ford Walmart, Bit Coin, Apollo Group – Online Education, Virgin, Cloud Computing Value proposition Value chain Target customer Product & service Process technology Enabling technology 11 RDM Management Group
  • 12. PLAY TO FAIL  … RIM/Blackberry, Nokia, Motorola, Kodak, Sears, Blockbuster Video, Sun Microsystems, DEC, Eatons, Simpsons … 12RDM Management Group
  • 13. INNOVATION MATRIX Semi Radical Technology Automobiles Mobile telephones Radical Apple Google Amazon Virgin Bit Coin Cloud Computing Incremental Oligopolies Banks Utilities Cellular Wireless Companies 80% of innovation Semi Radical Business Dell SW Airlines Walmart IBM Salesforce.com Business Model T e c h n o l o g y 13RDM Management Group
  • 14. INNOVATION STRATEGY Assess Drivers • Business – What, How, Who you Sell to • Technology – Product, Process, Enabler Select Strategy • Play Not to Lose • Play to Win • Combination Manage Innovation Portfolio • Incremental • Semi Radical • Radical 14 RDM Management Group
  • 15. LEADERSHIP  Sets the vision  Leads the innovation strategy  Align the innovation and business strategy  Engrain the innovation strategy into the corporate culture  Create innovation networks of intrapreneurs inside and outside the company  Correct metrics and motivators  Risk tolerance  Overcome internal organizational resistance  Freeing up appropriate budget  Be aware and overcome complacency that innovation success creates 15RDM Management Group
  • 16. Innovation Pyramid An Innovation Strategy provides:  Increased profits  Branding  Market Leadership  High performance work teams  Learning innovative culture  Real competitive advantage 16 RDM Management Group
  • 17. NEXT STEPS 1. Exert strong leadership and determine the innovation strategy that fits the business strategy, competitive environment, and innovation competencies  PNTL, PTW, or a balance  Assess the innovation climate, run a cultural diagnosis on creativity and value capture 2. Develop innovation platforms for different innovation types – six business and technology drivers  Incremental, semi radical, radical  Structure company and organizing management systems to promote innovation 3. Create portfolios for each platform including idea generation and gating – find the right balance 17RDM Management Group
  • 18. NEXT STEPS 5. Define internal and external resource requirements 6. Ensure internal innovation platforms have diverse creative and commercialization resources working in harmony 7. Create balanced scorecard metrics and rewards supporting the innovation strategy 8. Overcome any internal resistance to change subverting creativity and commercialization 9. Celebrate successes and embed innovation throughout the corporate culture 18RDM Management Group
  • 19. HOW CAN RDM ?  An engagement is typically a number of facilitation workshops and stakeholder interviews, walking a leadership team through the 8 steps  Deals with leadership requirements, strategy, structure, resources, management systems, processes, performance metrics, project management discipline, measurement and incentive rewards – organizational structure and culture  Document and present workshop/interview results, clarify, finalize, act, and move to next step  Similar to the strategic planning process 19RDM Management Group
  • 20. THE INNOVATION PROCESS RDM Management Group 20
  • 21. THE INNOVATION PROCESS RDM Management Group 21