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Sample2
1.
PlayBook360
TM Sustained Innovation & Growth competitive advantage 3 AREAS TO APPLY TO DRIVE GROWTH three common principles GLUE THAT BINDS PEOPLE IN COLLABORATION innovative mindset THE UNEXPECTED MUST BE EXPECTED 1 © BTM Corporation www.btmcorporation.com
2.
contents What is Sustained
Innovation? ......................................................................................................................... 3 Innovation for Competitive Advantage ................................................................................................ 5 Innovation is a broad topic, let’s first define three areas that may be applied to drive growth. Reasearch In Motion, AIG & Pfizer ............................................................................................................... 6 How these companies have stayed competitive with sustained innovation. 3 Principles for Sustained Innovation .................................................................................................... 9 Enterprises with a strong focus on sustained innovation share there three common principles. Why Innovation & Growth Initiatives Fail .................................................................................... 10 Six key reasons that cause innovation failures. Blockbuster, Sony & Sun Microsystems .............................................................................................12 How these companies failed to sustain innovation. Innovative Mindset ..............................................................................................................................................................15 The right mindset -- the unexpected must be expected. 7-Step Model for Sustained Innovation............................................................................................. 17 Modeled, documented and implemented as a total game-changing process. Additional Reading List................................................................................................................................................18 2 © BTM Corporation www.btmcorporation.com
3.
WHAT IS
SUSTAINED INNOVATION? Discipline and innovation are not opposites, but complements. 3 © BTM Corporation www.btmcorporation.com
4.
Innovation is widely
regarded as the single most impor- tant ingredient in today’s economy. INNOVATION AS A DESTINATION ISN’T ENOUGH. Sustained Innovation is a high-productivity state in which an organization strives to innovate in all aspects of its business, including management, divisions, operations, customers, and suppliers. Powered by people who come together to share ideas, com- pare observations, and brainstorm solutions to complex problems. Discipline and innovation are not opposites, but complements. 4 © BTM Corporation www.btmcorporation.com
5.
PRODUCT/SERVICES
Creating new products and services for existing or new markets. BUSINESS MODELS Developing new ways of creating value, including new economic models, distribution channels, brand equity, and INNOVATION FOR eco-systems. COMPETITIVE ADVANTAGE PROCESS & ORGANIZATION Developing new ways of doing Since, “Innovation” is a broad things, both internally (i.e. business topic, let’s first define three process, organizational models, sourcing areas where innovation may model, etc.) and externally (i.e. partner be applied to drive growth. management, customer experience, etc). 5 © BTM Corporation www.btmcorporation.com
6.
RESEARCH IN MOTION
( RIM ) THE ONE-HIT WONDER “A mere five years ago, Research In Motion (RIM) was one of the most celebrated technology companies in the world, as the BlackBerry, or “CrackBerry” as it became known.” he smartphone market is red-hot with Apple A mere five years ago, Research In Motion (RIM) T and Samsung engaged in the most fierce race for dominance via product innovation. But let’s not forget the once ubiquitous handheld was one of the most celebrated technology compa- nies in the world, as the BlackBerry, or “CrackBerry” as it became known, led the smartphone market. of choice for most employers and business people: But the meteoric rise of the iPhone and Android the BlackBerry. devices has made RIM and its big innovation a relic in a world of constant reinvention. 6 © BTM Corporation www.btmcorporation.com
7.
AMERICAN INT’L GROUP
( AIG ) RISING FROM FAILURE “Government bailouts in 2008 & 2009, AIG has bounced back and regained its status as a vital American multinational corporate titan. AIG isn’t taking its rescue for granted.” n 1919, Cornelius Vander Starr was the first The company went public in 1969 and continued I Westerner to sell insurance to the Chinese, and he did so successfully until Communism drove him and AIG back to the U.S. in 1949. AIG quickly to thrive until 2005, when it became the subject of fraud investigations by the SEC, U.S. Justice Department, and NY State Attorney General’s grew it business globally, and in 1962 Starr gave Office. Thanks to government bailouts in 2008 & management of the company’s slowing U.S. hold- 2009, AIG bounced back and regained its status as ings to Maurice R. “Hank” Greenberg, who revital- a vital American multinational corporate titan. The ized the company by moving from personal insur- insurer continues a rebranding overhaul aimed at ance to high-margin corporate coverage. its continued growth and success. 7 © BTM Corporation www.btmcorporation.com
8.
PFIZER ONGOING SUCCESS “The
company continues to lead the market with treatments for myriad maladies.” fizer, the world’s largest pharmaceutical The drug maker has augmented its research by P company based on revenue, constantly develops blockbuster medicines and vac- cines with household names like Zithromax, building its brands, pipeline, and profile through a series of major acquisitions. The company con- tinues to lead the market with treatments for Lipitor, and Viagra. Founded in 1849 as a manu- myriad maladies. Recently, the U.S. Food and Drug facturer of fine chemicals, Pfizer’s discovery of Administration approved Pfizer’s Bosulif, which Terramycin a year later launched its successful treats a rare type of leukemia that usually affects and ongoing expansion into a research-based older adults. pharmaceutical company. 8 © BTM Corporation www.btmcorporation.com
9.
PRINCIPLES FOR 3
SUSTAINED INNOVATION Enterprises with a strong focus on SUSTAINED INNOVATION share three common principles that act as the glue binding people together in PRODUCTIVE COLLABORATION. CONVERGED DISCIPLINES Ideas aren’t isolated; they’re celebrated in groups that enable the entire organiza- tion to act as one entity. CROSS-BOUNDARY COLLABORATION No enterprise operates in a vacuum. Every manager, employee, and contractor poten- tially has a piece of the puzzle to create a new breakthrough business opportunity. INNOVATIVE BUSINESS STRUCTURES Not every organization can empower an unstructured development culture; most require a structure that compels convergence of disciplines, management, and oper- ational units. 9 © BTM Corporation www.btmcorporation.com
10.
6 KEY REASONS FOR FAILED
INITIATIVES Innovation is a key compo- nent of any enterprise, but failure is an intrinsic, inevi- table part of the process. Un- fortunately, a large number of products, merger and ac- quisition deals, projects, and startup ventures fail. 10 © BTM Corporation www.btmcorporation.com
11.
HERE ARE THE TOP
SIX REASONS BEHIND INNOVATION FAILURES Absence of a formal innovation No deployment of measurement 1 management framework and 4 criteria and metrics to track and system monitor progress, status, value, etc. No direct link tying initiatives Limited to no allocation of cross- 2 to company’s overall strategy 5 disciplinary resources necessary to effectively manage projects No creation of intelligence-driv- 3 en options and scenarios Buy-in from required stakeholders 6 not secured as needed so no own- ership from cross-functional teams 11 © BTM Corporation www.btmcorporation.com
12.
BLOCKBUSTER THE BLUNDER “Failure
to adapt fast enough as soon as Netflix and smaller rivals started mailing videos and selling videos-on-demand turned Blockbuster’s once ubiquitous storefronts into dinosaurs.” ounded as a single store in Dallas in 1985, The chain had no choice but to shut hundreds of F Blockbuster quickly became a household name and withstood the historic transition from VHS to DVD. But its failure to adapt fast stores, work off debt and follow, instead of lead, the evolving market. Following a failed bid by South Korean telecommunications company SK enough as soon as Netflix and smaller rivals Telecom, Dish Network stepped in with lofty turn- started mailing videos and selling videos-on- around talk, but eventually ditched its doomed demand turned Blockbuster’s once ubiquitous plans to transform Blockbuster into a worthy storefronts into dinosaurs. Netflix adversary. 12 © BTM Corporation www.btmcorporation.com
13.
SONY THE SLIDE “Transformation
into a colossal conglomerate with film and music divisions led to a lag in leadership in many of its core product lines.” he original Walkman was marketed in sions led to a lag in leadership in many of its core T Japan in 1979, and became a necessary accessory in America during the ‘80s, when it was as iconic as today’s Apple must-haves: product lines. As Sony and some rivals shifted from hard- iPods, iPads and iPhones. Sony ruled the market ware to software, more nimble competitors like for consumer electronics such as TVs, cameras LG, Samsung, Vizio, and Apple quickly outpaced and video recorders, but its transformation into a Sony’s old-school and now obsolete innovations. colossal conglomerate with film and music divi- 13 © BTM Corporation www.btmcorporation.com
14.
SUN MICROSYSTEM THE MELTDOWN
“The dot-com blow-up blew away customers and changed the way companies meet their technology needs.” ounded in 1982, Sun Microsystems sizzled But the dot-com blow-up blew away custom- F as a Silicon Valley sweetheart and thrived with the creation of cutting edge computer servers and workstations built on its proprietary ers and changed the way companies meet their technology needs. The proliferation of powerful PCs purged demand for Sun’s pricy servers, and RISC-based SPARC processor architecture and a the company was forced to downsize and sell to suite of savvy software products. Sun’s Java pro- Oracle in January 2010 for a paltry $7.4 billion. gramming language, introduced in the mid 1990s, was an industry standard that propelled the com- pany to market leader. 14 © BTM Corporation www.btmcorporation.com
15.
THE INNOVATIVE MINDSET H
How we go about building an innovative organization b should be unique. But for every organization, it starts with the right mindset -- the unexpected must be expected. ight Who would have thought that sleek smartphones would replace bulky cameras and music players? This mindset must start at the top of the organization and permeate every level. The leader must set the example. 15 © BTM Corporation www.btmcorporation.com
16.
HERE’S WHAT PEOPLE
MIGHT BE THINKING IN A NON-INNOVATIVE ENVIRONMENT: The last big product launch failed, and several people are no longer around. We’re doing fine; let’s let our existing line peak before we try something new. Our company is too large to waste time on small ideas. We want new ideas, but I’m paid to make my numbers on existing business. I can’t remember manufacturing and marketing ever talking about anything. People are going to get cynical about all these change initiatives. The last time I made a suggestion, I got my head hand- ed to me on a platter. 16 © BTM Corporation www.btmcorporation.com
17.
MODEL FOR
Human nature is driven by wants and/or needs. SUSTAINED We develop strategies to evolve tac- INNOVATION tics to turn those wants and needs into goals. With tactics in place, we can formu- late a plan, or call to action to achieve the goals. The plan, or call to action, involves setting personal or business objectives and determining the most appropriate technologies with which to implement them. When the business objectives are combined successfully with the appro- priate technologies, the result is conver- gence, the seamless merging of both to attain goals. Sustained Innovation can be Convergence makes it possible to create a viable economic model applying enabling technologies, essential in the modeled, documented and process of satisfying the wants or needs. implemented as a total game-changing Transformation occurs when the individual or enterprise has successfully process. At a high-level, this process can be defined embarked upon on the new course to according to these 7 steps. achieve its goals. 17 © BTM Corporation www.btmcorporation.com
18.
ADDITIONAL HOW SUCCESSFUL
READING THE 7- STEP MODEL COMPANIES SUSTAIN FOR CREATING INNOVATION SUSTAINED ECONOMIC What can we learn from those who did it once TRANSFORMATION (RIM), those who failed and rebounded (AIG) and Transformation can be modeled, documented, and those who make it habit (Pfizer). implemented as a total game-changing process. Here’s how to get it started. http://www.fastcompany.com/3002324/how-suc- cessful-companies-sustain-innovation http://www.fastcompany.com/3003420/7-step- model-creating-sustained-economic-transformation WHY INNOVATION MAT TERS WHEN THE GOING GETS IN POLITICS AND THE PUBLIC TOUGH, TOUGH COMPANIES SECTOR INNOVATE Innovation and technology drive everything from From Wendy’s premium rebranding to Home Depot’s healthcare to education to election wins, but mis- how-to videos, clever companies figure out how to management can pose threats to democracy, even find success amid adversity. Here’s how. peoples’ lives. http://www.fastcompany.com/3000596/when- http://www.fastcompany.com/3003207/why-inno- going-gets-tough-tough-companies-innovate vation-matters-politics-and-public-sector WHY INNOVATION FAILS In an age of unanswerable questions, asking the right question might just be the answer. http://www.fastcompany.com/3002768/why-inno- vation-fails 18 © BTM Corporation www.btmcorporation.com
19.
INNOVATION READING FC,
HBR, BTMI http://www.btminstitute.org/index.php/communities/by-impact/ sustained-innovation.html http://www.fastcompany.com/tag/innovation http://hbr.org/search/Innovation/ http://pubs.media.mit.edu/ WWW http://knowledge.wharton.upenn.edu/category.cfm?cid=12 19 © BTM Corporation www.btmcorporation.com