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Managing Innovation in any Market

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NC State's Poole College of Management presents the misconceptions of innovation's role in business and the benefits resulting from the effective implementation of innovation into your company.

NC State's Poole College of Management presents the misconceptions of innovation's role in business and the benefits resulting from the effective implementation of innovation into your company.

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Managing Innovation in any Market Managing Innovation in any Market Presentation Transcript

  • Managing INNOVATION In Any Market
    June 10, 2011
  • Welcome: Your Hosts & Presenters
    Ms. Lee Clark-Sellers
    Program Director, Executive Programs – Managing Disruptive Innovation
    CIMS Industrial Fellow
    Mr. Paul Mugge
    Innovation Professor, College of Management, and Executive Director, Center for Innovation Management Studies (CIMS) at NC State University
    Dr. Richard Kouri
    Executive Director, Biosciences Management MBA Program, NC State University College of Management
    Mr. Shawn Gallagher
    Sr. Director, Outsourcing Operations, Eisai, Inc.
  • Top Tier Research School
    5th for corporate research
    7th in Industry Research Funding (non-medical school)
    9th in Total Research Expenditures (non-medical schools)
    “Locally responsive… Globally engaged”
    Chancellor Randy Woodson NC State University
  • Why
    are we here?
  • TODAYIS ABOUTINNOVATION
  • Innovation Poll
    How market aware is your company?
    • We drive the market
    • We are in touch with the market
    • We are too busy and don’t have time
  • INNOVATIONIt’s thrown around often.
    The executive MANTRA
    Today’s HOT term
    R&D’s CLAIM TO FAME
    HR HIRING DIRECTIVE
    Another NEWS story
  • Why The Focus on Innovation?
    1
    Executives fear their businesses becomingcommoditized
    2
    Desperately seeking ways to
    distinguishproducts and services
    3
    Cost Control is now a way of life –
    sustainable, profitablegrowth is a challenge
  • A Common innovation Problem
    • Innovation revolves around old concepts
    • Limited in risk
    • Close to today’s ways of doing business
    • Minimal impact.
  • CommonMisconceptions
    Innovation comes from
    a lone genius
    • or
    Innovation comes from a small team sequestered in a room
    They vanish from sight then return with big ideas.
  • Innovation
    is not
    invention
  • Innovation
    is a
    full contact sport.
  • Innovation
    is like a
    medieval
    bazaar
    Innovation
    is like a
    medieval
    bazaar
  • Innovation is the only business activity that can increase the size of the pie
    $ Top Line Growth $
  • Surprise!
    Innovation is a deliberate process that combines resources
    Ideas, people, products & services
    Processes, tools, strategy and metrics
    Defined activities that cross functional areas
    INNOVATION
    converts ideas into
    commercial successes
  • Not To Worry!
    You can manage innovation and put your company on the path to leadership.
    You can build a culture of innovation across the enterprise that sees no boundaries.
    You can lead the innovation charge.
  • Managing INNOVATION requires specific tools, functions and expertise.
    Recognize market signals
    Create a culture of innovation
    Cross business functions
    Transform business models
  • The CIMSINNOVATIONManagement Framework™
    A systematic way to manage innovation
    Built upon an enormous body of knowledge
    27 + years of research and proven applicability from the Center for Innovation Management Studies (CIMS)
    Validated with leading global enterprises
    A Common Platform
    A Common Language
  • Firm
    Levels
    Industry
    Macro-environment
    Strategy
    Competencies
    Organization & Culture
    The IM Framework – “The Cube”
    Process
    Portfolio Management
    Project Management
    Market Management
    Idea Management
    Platform Management
    Techniques & Tools
    Dimensions
    Metrics
  • Levels
    Firm
    Industry
    Levels
    Research dictates the need for
    market awareness at
    all levels.
    Strategy
    Macro-environment
    Competencies
    Organization & Culture
    Dimensions
    Process
    Portfolio Management
    Project Management
    Market Management
    Idea Management
    Platform Management
    Techniques & Tools
    Metrics
  • Firm
    Competencies
    Capabilities that allow a company to produce differentiated products and services.
    Industry
    Levels
    Strategy
    Macro-environment
    Organization & Culture
    Competencies
    Dimensions
    Process
    Portfolio Management
    Project Management
    Market Management
    Idea Management
    Platform Management
    Techniques & Tools
    Metrics
  • Firm
    Dimensions
    Levers that managers can
    use to build
    repeatable,
    scalable
    organizational capabilities
    Industry
    Levels
    Strategy
    Macro-environment
    Competencies
    Organization & Culture
    Dimensions
    Process
    Portfolio Management
    Project Management
    Market Management
    Idea Management
    Platform Management
    Techniques & Tools
    Metrics
  • INNOVATIONCan Be Managed
    ?
    Where do we begin
  • RecognizingMarket Signals
    How bad do you think the recession is gonna be? Will I have to trade my house for grain and move into my car?
  • Innovation management means
    being intensely
    market-driven.
    “Market-driven firms are, on average, 31% more profitable than self-centered firms.”
    “The Market Driven Organization: Understanding, Attracting, and Keeping Valuable Customers”
    George S. Day, Wharton School, University of Pennsylvania
    25
  • Market Awareness
    Signals
    Political, Economic, Societal,
    and Technological (termed P.E.S.T.)
    Trends
    Market influences informed
    by a set of signals
    Drivers
    Market trends matched with
    commercial opportunities
  • Not Planned Serendipity
    Understand your position in the market
    Read and bundle your market signals
    Prioritize signals with greatest impact on your business
    EMPOWER your people
    to be
    TREND TRACKERS
    and
    OPPORTUNITY SEEKERS
  • Collecting Data Is Essential
    ….But the task is daunting
  • We are experiencing an information explosion
    Velocity
    Every 1,000 employees
    $5.3 million a year is spent
    to find information
    stored on company servers.
    42%of managers
    use wrong information at least
    once per week.
    Variety80%of new data growth
    is unstructured content
    Volume15 petabytes a day
    of new information
    29
    Source: InformationWeek – State of Enterprise Storage: Changing Priorities, Changing Practices
  • Must access and manage “Big Data”
    The next frontier for
    managing innovation,
    gaining a competitive edge, and
    creating productive organizations
    Current Approach
    • Buy market reports
    • Do it manually
    • Do nothing
    But….
    • Out-of-date
    • Slow
    • Expensive
    • Generic
    So, what is the answer?
    This enables situational awareness and open collaboration across the enterprise
  • What have we
    learned so far?
    We can manage innovation
    We can recognize market signals
    We have the data
    So what’s next?
  • InnovationRelies On Culture
    CEO
  • Culture Matters
    INNOVATIONis a mindset that can be taught and learned across the enterprise
  • EstablishINNOVATIVEBehaviors
    Being decision ready
    Actively spanning boundaries
    Knowing what’s on the fringe
    Thinking out-of-the-office
    …. And guess what?
    new competencies
    will emerge
  • WHEN IT COMES TO INNOVATION…
    CULTURE
    EATS
    STRATEGY
    FOR BREAKFAST
    EVERY DAY
  • Now we understand the
    importance of culture
    WHERE DO WE GO from here?
  • When Market SignalsIndicate Business Model Change
  • “Is THIS the line
    you’re telling me
    NOT to cross?”
  • Business Functions Must Adapt, But How?
    Map drivers to business functions
    Identify functions that need to adapt
    Estimate resources and time needed
    Prioritize business function changes
    • “Master”
    • “Partner”
    - “Maintain”
    - “Shed”
    Managing Disruptive Innovation
    http://execseries.mgt.ncsu.edu
  • This is not easy.
  • Business Model COMPLEXITY
    Technological advances
    Licensing, mergers & acquisitions
    New compliance requirements
    Global market factors
    Ownership of COGS
    R&D efficiency
    Competitive advancements
  • Build a bridge between existing “gaps”
    Current capabilities
    of the organization.
    Desired new state of
    a Business Function.
  • INNOVATION Management At Work
    SHAWN GALLAGHER, Eisai, Inc.
    Sr. Director Outsourcing Operations
    The pharmaceutical industry is undergoing disruptive change
    Eisai responded by embedding innovation across the enterprise
    We started somewhere – a business function
    Today we have a common language and plan
    Building a culture of innovation
    On the path to accessing and managing “Big Data”
  • POLL RESULTSWhere do you stand?
    % drive the market
    % in touch with the market
    % too busy and don’t have time
  • Harnessing INNOVATION
    Innovation can be managed.
    Taught, learned, measured, improved
    Market signals must be addressed
    A culture of innovation is essential
    Innovation may mean business model transformation
  • Innovation Management: What We Know
    Years of research and proven methodologies
    Over 15 assessments that provide meaningful results
    Managing innovation is a process you can control
    Start somewhere – choose a business function
    Build a culture of
    INNOVATION
    everyone WINS!
  • Want More Information?
    Bring us your biggest business challenge.
    Put one of our assessments to work for you.
    Contact us: http://execed.mgt.ncsu.edu or 919-515-4445
    Download free article on Big Data Analytics Platform
    Presentation available on trainingindustry.com
    Type in the search box: on demand
    Custom programs and Innovation Management Exec Series
  • Questions
    Ms. Lee Clark-Sellers
    klclarks@ncsu.edu
    Mr. Paul Mugge
    paul_mugge@ncsu.edu
    Dr. Richard Kouri
    richard_kouri@ncsu.edu
    Mr. Shawn Gallagher
    shawn_gallagher@eisai.com
    Contact us: http://execed.mgt.ncsu.edu or 919-515-4445ee