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Open Innovation: New Opportunities,New Challenges www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups email@example.com Twitter: @lindegaardHey! Freebookson 15inno.com!
Is the oil and gas industry “arrogant”? Or is itready to open up?
Faster pace, shrinking window ofopportunity, less time for cash cowsOpen innovation and biz model innovation iskey for becoming competitively unpredictable!We need a more holistic approach to innovation!
“…a philosophy or a mindset that they should embrace within their organization.This mindset should enable their organization to work with external input to the innovation process just as naturally as it does with internal input. The key benefits are diversity and speed.”
Employees Managers Suppliers Academics / institutions Executives Alumni VCs Startups Business unit Users / Government / function consumersEducate internally and externally – It’s not Competitors Inventorsfun being the only guy on the playground!
NATURA SEMICONDUCTORFMCG TELEFONICA OIL/GAS PHARMACycle time, money, IPR and conservatism
…with regional hubs in Silicon Valley, SaoPaulo, Spain and Israel. Its mission is to seize the opportunities within the digital world and deliver new growth for Telefónica.
Goldcorp shared all their data in March 20001,000+ people joined; many from outside industryAustralian groups developed 3-D map of the mine110 sites identified, 50% unknown, 80% produced
We have no choice!Participation is the new brandGo beyond the obvious areas!
Current pilot projects:• "People are much more likely to act their way into a new way of thinking, than think their way into a new way of acting."• Richard Pascale• Therefore we run pilot projects• - in our production area (solving hard, “unsolvable” problems)• - on improving the core LEGO experience through crowdsourcing• - on how to improve core HR processes• - on an Open Innovation platform
Does Shell lead open innovation in your industry?Shell Gamechanger: Open for external ideasCEO talks about open/business model innovationThe real work happens behind the scenes!
Microsoft Kinect: Newtechnology, new marketsBetter Place: Establishingnew ecosystem Inditex / H&M: Value chain innovation on Apple steroids P&G GE Natura Grundfos Premium Ingredients: Mini- Rolls-Royce factories and communities
Most corporate innovation teams play catch-up!Where is the vision and drive?
They do not innovate on the innovation process!They do not develop their mindset and toolbox!They lack communication skills and efforts!They do not educate up, down and across!
Companies must embrace experimentation– and the failures that come along with it!
Small failures are accepted, but not big ones: 47 % Failure is not accepted here: 7% More than half of the companies do not recognize failure as an inherent part of an innovation culture!
“Two types of failure:- honorable failure is where an honest attempt at something new or different has been tried unsuccessfully and- incompetent failure where people fail for lack of effort or competence in standard operations.” Credit: Paul Sloane
There are no quick fixes because the topexecutives that got us into this mess are not ready to lead us out of it!
Too much focus on products, technologyUnrealistic expectations on time, resourcesLack of resources in budget, people, infrastrucureSilo rather than collaborative approachesPoorly defined innovation strategy (if any)
Stage 1: Shock and SurpriseStage 2: DenialStage 3: Anger and BlameStage 4: DepressionStage 5: AcceptanceStage 6: Insights and Change Credit: Steve Blank
Six stages of failure and redemptionDon’t get stuck in 2, 3 or 4 – move forwardDon’t skip acceptance of your roleGet to insights to change behavior……commit to challenge / do different next time Credit: Steve Blank
Upgrade your innovation mindset and toolbox!Identify external input / value pools that fitsyour situationStart innovating on how you innovate(experimentation, small bets, quick wins)Work the internal and external stakeholders!
Get in touch! www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups firstname.lastname@example.org Twitter: @lindegaardHey! Freebookson 15inno.com!