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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