1. Innovation Explained

2. 2
CEO’s want it

3. 3
Strategist write about it

4. 4
Marketers talk about it

5. 5
Product Managers
strive to deliver it

6. What is IT?
6

7. ‘IT’ is
Innovation
7

8. But….
8

9. Only 9 – 10 % of public and private
companies in America engaged in
product or service innovation in 2010.
9Creative Intelligence: Harnessing the Power to Create, Connect and Inspire,
Bruce Nussbaum , 2013

10. What is innovation?
10

11. Innovation is about …

12. Solving existing problems
in a new way…

13. …that is significantly
better / faster / cheaper
than the previous
solutions.

14. Innovation creates new
customer value.

15. Innovation delivers
business value.

16. Innovation is great
product management.

17. There are many definitions of innovation
17

18. According to Scott Anthony ...
“Innovation is something
different that has impact.”
The Little Black Book of Innovation:How it Works, How to Do It.
Scott Anthony, 2012

19. According to Terwiesch & Ulrich ...
“Innovation is a new match
between a need and a
solution.”
Innovation Tournaments:Creating and Selecting Exceptional Opportunities
TERWIESCH, C., & ULRICH, K. T, 2009

20. According to Jamie Notter ...
“Innovation is change that
unlocks value.”
What is Innovation? http://jamienotter.com/2012/09/what-is-innovation/
Jamie Notter, 2012

21. According to Larry Keeley ...
“Innovation is the creation
of a viable new offering.”
Ten Types of Innovation
Larry Keeley et al, 2012

22. According to Jim Andrew ...
“Innovation is about
making money.”
Payback, Reaping the Rewards of Innovation
Jim Andrew, Harvard Organisation Review 2007

23. At its core
The aim of innovation is to
create significantly more
value.

24. Types of innovation
24

25. Greg Satell talks of… 4 types of
innovation
25
Breakthrough
Innovation
Sustaining
Innovation
Research and
Development
Disruptive
Innovation
4 Types of Innovation,Digital Tonto
Greg Satell, 2012

26. Breakthrough innovation
26
Breakthrough
Innovation:
The problem is well defined
but the domain experts are
unclear how to proceed
Sustaining Innovation
Research and Development Disruptive Innovation
4 Types of Innovation,Digital Tonto
Greg Satell, 2012
WellDefinedNotWellDefined
ProblemDefinition
Not Well Defined Well Defined
Solution Definition

27. Sustaining innovation
27
Breakthrough Innovation
Sustaining
Innovation:
The problem is well defined
and the domain experts
know how to proceed.
Research and Development Disruptive Innovation
4 Types of Innovation,Digital Tonto
Greg Satell, 2012
WellDefinedNotWellDefined
ProblemDefinition
Not Well Defined Well Defined
Solution Definition

28. Disruptive innovation
28
Breakthrough Innovation Sustaining Innovation
Research and Development
Disruptive
Innovation:
The problem is unclear but
the domain experts have the
knowledge and skills to
proceed.
4 Types of Innovation,Digital Tonto
Greg Satell, 2012
WellDefinedNotWellDefined
ProblemDefinition
Not Well Defined Well Defined
Solution Definition

29. Research and development
29
Breakthrough Innovation Sustaining Innovation
Research and
Development:
Both the problem and the
solution are unclear.
Disruptive Innovation
4 Types of Innovation,Digital Tonto
Greg Satell, 2012
WellDefinedNotWellDefined
ProblemDefinition
Not Well Defined Well Defined
Solution Definition

30. So who’s doing what?
30
Breakthrough
Innovation
Samsung 5G
Network
Sustaining Innovation
Apple iPhone 5
Research and
Development
3M
Disruptive Innovation
Moven Bank

31. Why innovate?
31

32. To grow with purpose
32

33. 33
To extend the product lifecycle

34. 34
To stay relevant in competitive markets

35. Where can we innovate?
35

36. 36
1. The product
Create outstanding
features for existing
products or develop
brand new products.

37. But don’t just stop at the product!
As products mature it
becomes increasingly
difficult to continue to
innovate the product.

38. 38
2. Revenue model
Find new ways to price
the product and to
extract value form the
customer.

39. 39
3. Service delivery
Find new ways to
support the customer
before, during and or
after the sales process.

40. 40
4. Customer engagement
Find new ways to
delight the customer
during every interaction
with the company.

41. 41
5. Business process
Find new ways to
significantly improve the
way the people in the
company go about
doing their work.

42. 42
6. Supplier relationships
Find new ways to
engage with suppliers or
to engage with different
types of suppliers

43. 43
7. Channel to market
Find new ways to
send the
company’s offering
to market

44. 44
There are many other
areas to innovate.

45. 45
Importantly, the more areas the
company innovates, the more
money it stands to make.

46. What can product managers do to
innovate?
46

47. 47
1. Determine if Product Managers
should be delivering innovation
• Have a conversation with your Product Management teams about delivering
customer value.
• As a Product Management team, are you sustaining your products on a day
to day basis?
• Or, do you want to significantly increase value to existing and or new
markets?
• You can’t innovate if the Product Management do not agree that delivering
significant increases in customer value is part of their role.
• If the answer is a resounding yes, then get cracking.

48. 48
2. Review current Product Management
practices
• Understand if the current Product Management practices delivers significantly
more customer value over time.
• If not, determine why not?
• Are there other teams tasked with delivering customer value?
• Where can Product Management practices change or improve to
increase customer value?
• If yes, what are the results?
• Are the results satisfactory to achieve business growth?
• Are the practices repeatable?
• Do your current Product Management practices need innovating?

49. 49
3. Set the innovation agenda
• Discuss the type of innovation the Product Management team shall undertake.
• Understanding the type of innovation you want to undertake is important
because each type of innovation requires a different approach.
• For example there are some types of innovation such as R&D that the
Product Management team is not set up to deliver.
• Determine the area of focus: product, service, customer engagement or other.
• Determine if the right skill sets, resources are available in the Product
Management team to innovate.
• Set some measureable goals.

50. 50
4. Get support
• Once the Product Management team has an innovation agenda, spread the word
and communicate the agenda.

51. 51
5. Be disciplined
• Keep at it.
• Innovation is like staying fit. It requires regular effort and attention. Nobody
gets fit after just one gym session.
• Work with your team to schedule the time to make innovation a priority.

52. Brainmates applies a
repeatable Product
Delivery Framework that
embraces innovation.

53. Connect with Brainmates
53
Brainmates Group @Brainmates
#prodmgmt
Facebook.com/Brainmates
www.brainmates.com.au info@brainmates.com.au + 61 2 9923 8147