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SA Innovation Summit 2013: Open Innovation - New Opportunities, New Challenges
 

SA Innovation Summit 2013: Open Innovation - New Opportunities, New Challenges

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My presentation for my talk at the 6th SA Innovation Summit 2013

My presentation for my talk at the 6th SA Innovation Summit 2013

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  • It would be good to have some context of when intrapreneurs work and how companies should idenfty, nuture and reward them and what are the circumstances when they don’t work and are couterproductive?
  • Agoodnetworkingculture

SA Innovation Summit 2013: Open Innovation - New Opportunities, New Challenges SA Innovation Summit 2013: Open Innovation - New Opportunities, New Challenges Presentation Transcript

  • www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Open Innovation: New Opportunities, New Challenges Hey! Freebookson 15inno.com!
  • Faster pace, shrinking window of opportunity, less time for cash cows Open innovation and biz model innovation is key for becoming competitively unpredictable! We need a more holistic approach to innovation!
  • What is open 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” Open innovation as a term will disappear in 5- 7 years!
  • Employees SuppliersManagers Academics / institutions Executives VCsAlumni Startups Business unit / function Users / consumers Government Competitors Inventors Educate internally and externally – there’s no point being alone on the playground!
  • NineSigma Alliances / joint ventures Campaigns (Comm / Public) Entrepreneur Day Consortia MyStarbucks Idea.com Campaigns (Comm / Public) Supplier Summit CREDIT: OVO Innovation
  • P&G PHARMAMEDTECH Cycle time, money, IPR, conservatism and internal readiness
  • Go beyond the obvious areas! Participation is the new brand We have no choice!
  • 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
  • Develop the right conditions and framework Be competitively unpredictable Change how we innovate
  • 110 sites identified, 50% unknown, 80% produced Australian groups developed 3-D map of the mine Goldcorp shared all their data in March 2000 1,000+ people joined; many from outside industry
  • Inditex / H&M: Value chain innovation on steroids Microsoft Kinect: New technology, new markets Better Place: Establishing new ecosystem Premium Ingredients: Mini- factories and communities Apple P&G GE Natura Grundfos Rolls-Royce
  • You can download my workbook on 15inno.com
  • Better internal collaboration, less silo mentality = internal open innovation? Don’t invite guests if you house is not in order! What is open innovation? Where do we start? Are small companies afraid of us? Who is in the driver’s seat and who is in the back?
  • Upgrade your innovation mindset and toolbox! Identify the types of external input / value pools that fit your situation! Start innovating on how you innovate (experimentation, small bets, quick wins) Work the internal and external stakeholders! Become better communicators!
  • Let’s talk about an (open) innovation culture!
  • No networking culture? No innovation culture! - future winners get communities to work! Organizations must embrace experimentation – and the failures that come along with it! Only a truly burning platform or fully aligned executives can change an innovation culture!
  • Grass-root: Big potential if supported properly! Open up: Difficult, but the only way forward! 20% free time: You can’t copy this! Top-down: Go from event to capability to culture!
  • Intrapreneurship is an overlooked tool: “Intrapreneur: a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.” American Heritage Dictionary, 1992
  • The Danfoss Group (Case Study) • A leader in development and production of mechanical and electronic products and controls • 26,000 people and 3,7 billion EUR in revenues • 3 main divisions
  • “I believe we possess all the resources and talents necessary. But the facts of the matter are that we have never made the national decisions or marshaled the national resources required for such leadership. We have never specified long- range goals on an urgent time schedule, or managed our resources and our time so as to insure their fulfillment.”
  • The Man on The Moon competition • To identify and develop new ventures thatcreatessignificantgrowth and/orstrategicadvantages • To spot and develop talent • To change the culture and establish”intrapreneurship” as a fourthcareerpath
  • Discovery – Incubation – Acceleration: Have the right people at the right time!
  • “…an intrapreneur must have the ability to see and pursuepossibilities by piecingtogether innovations acrossthreeor more business functionssimultaneously.” Paul Campbell, former VP, HP
  • A career path for trouble-makers? “When someone tries to innovate within a traditional organization,few will understand what he/she is doing, but everybody will understand who is a trouble-maker. After the innovation has been embraced by the organization,few will remember who started it, but everybody will remember who was a trouble-maker. This is the dilemma encountered by many intrapreneurs -they risk punishment for success.” David Nordfos, Stanford
  • You need a common language / under- standing to frame and work with the issues!
  • Every corporate culture is innovative! Find the pockets, build the foundation and perception
  • No networking culture? No innovation culture! - future winners get communities to work!
  • Only network if you have a purpose! Know your needs – different types / efforts! Committed executives and high-level managers! Social media is a key networking tool today!
  • Direction, training, time – and courage to leave comfort zone, experiment, be visionary!
  • Organizations 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 top executives that got us into this mess are not ready to lead us out of it!
  • Too much focus on products, technology Silo rather than collaborative approaches Poorly defined innovation strategy (if any) Lack of resources (budget, people, infrastructure) Unrealistic expectations on time, resources
  • Organizations must identify skills and mindset needed for a stronger innovation culture
  • Most corporate innovation teams play catch-up! Where is the vision and drive?
  • They lack communication skills and efforts! They lack the courage to speak up! They do not innovate on the innovation process! They do not develop their mindset and toolbox!
  • 1) Intrapreneurial skills 2) Networking talent 3) Communication skills 4) Strategic influencing 5) Adaptive fast learner 6) Balanced optimism 7) Tolerance for uncertainty 8) Passion
  • It must be a key objective for corporate innovation teams to educate – up as well as down!
  • If you want to change a culture, you should reward behaviors as well as results! TBX(O) – Sometimes middle-managers hinder innovation just by doing their job! People first, processes next, then ideas!
  • Get in touch! www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Hey! Freebookson 15inno.com!