Innovation - What is It?
 

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Don Wiesenforth, the Assistant Director of Innovation for Albany Medical Center and a 2014 cohort member of the University at Albany's Weekend MBA Program, sought to answer that question as he gave ...

Don Wiesenforth, the Assistant Director of Innovation for Albany Medical Center and a 2014 cohort member of the University at Albany's Weekend MBA Program, sought to answer that question as he gave attendees of his October 31 presentation an overview of a program that provides a systematic approach to innovation. The fundamental concepts of the program include tools and methods for creating, communicating, and commercializing meaningfully unique ideas. Please contact Don at wiesend@mail.amc.edu or at 518.262.1655 for additional information.

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  • it means companies make more money. In 2010 Georgia Tech found..... <br />
  • Furthermore, employees of companies who innovate....blah blah blah <br /> Innovation creates wealth for everyone. <br />
  • Stimulus Response <br /> • There is a better way....we call it Stimulus Response <br /> • Instead of using your brain like a library use it as a processing tool <br /> - Feed your brain with stimulus <br /> - When stimulus enters it sets off a chain reaction of connections and associations <br /> • In the arts stimulus has been used for inspiration for thousands of years <br /> - The wonders of nature to the painter <br /> - The beauty of the human face for a sculptor <br /> - The wonders of the wilderness for the poet <br /> - All look for inspiration for their work <br /> • Similar trait done by designers today <br /> - Jim Henson toured the Metropolitan Museum for inspiration for new puppets <br /> - Nike outdoors designers use military gear as outdoor inspirations <br /> - Not copying.....rather using it as stimulus to prompt the mind <br />
  • Gut instincts is how we take action, how the stimulus “speaks to us” <br />
  • Add a fourth column for what would completely disrupt your industry? 10x improvement? 20x improvement? <br />
  • Quick summary of the sites <br />
  • Note score <br />
  • The inventor name may be the most important data on this publication…he can help make a 75% fit into a 100% fit <br />
  • My favorite mining…disruption occurs when people ignore or misjudge the timing of the future <br />
  • www.trendwatching.com look for the major trends, <br />
  • Whole Ideas: <br /> - Overt Benefit <br /> - Real Reason To Believe <br /> - Can be produced, distributed and sold at a profit <br /> Original: <br /> - Dramatic Point of Difference <br /> Wicked Easy to Understand: <br /> - 30 Second commercial gives you about 70 words <br /> - 10 second commercial gives you about 20 words <br /> - Internet Banner gives you about 6 words <br /> ! Provide Magic <br /> - This is the indefinable <br /> - It’s what generates “Hall Talk” <br /> - New Beetle......I Mac...... <br /> - Ben & Jerry’s Cookie Dough Ice Cream when introduced <br /> NEEDS WORK....NEEDS BETTER EXAMPLES <br />
  • WINNERS <br /> - Overall AcuPOLL® Grade of A or B <br /> - 69% chance of > than threshold Purchase trial rate (10%) <br /> LOSERS <br /> - Overall AcuPOLL® Grade of C, D or F <br /> - 11% chance of > than threshold Purchase trial rate (10%) <br />

Innovation - What is It? Presentation Transcript

  • 1. What is innovation?
  • 2. We believe innovation is the engine that will keep us vital and growing innovation is our strategy we create innovation through intellectual property and passion To succeed we must maintain our innovative environment. We strive to embrace change, challenge the status quo, listen to all ideas and viewpoints, encourage and reward informed risk taking, and learn from our success and mistakes
  • 3. Problem: Can you describe your corporate innovation system? I know nothing!
  • 4. No formal innovation process need ideas We Competitor wins/funding gets cut No progress This Hurts We schedule more meetings Call a meeting We shoot down ideas
  • 5. Or this… Not Reproducible
  • 6. Deming Why do we need one?
  • 7. Innovation means COMPANIES make more money $ % PROFIT MARGIN (RETURN ON SALES) SELF REPORTED COMPANY STRATEGY GEORGIA TECH 2010
  • 8. Innovation means EMPLOYEES make more money $ $53,000 STRATEGY = INNOVATION AVERAGE EMPLOYEE WAGES STRATEGY = LOW PRICE $33,000 GEORGIA TECH 2010
  • 9. Why INNOVATION? Microprocessors Over Time 1980 LCDs 2005 Airlines 1988 1997 2003 Crushed Stone 2003 1940 Cable Boxes 1998 Brokerages 2004 Cars 2003 1968 1990 2003 Mobile Service 1994 2000 Milk Bottles 2004 1990 2004 Wireless Services 1990 2003 Personal Computers 1988 2004 Plastics 1987 2004 prices DECLINE - 25% with each doubling of experience VCRs 1993 2004 DVD Players 1997 2005 Color TVs 1997 2002
  • 10. Why NOW? INTERNET Means True Free Market • Everyone Competes • The Courageous WIN • The Clones LOSE Yesterday Today The Life Cycle is Getting FASTER & FASTER
  • 11. Confront reality “Where is your company on the curve?” BUSINESS LIFE CYCLE “WHAT’S YOUR PROCESS TO REBOOT GROWTH?”
  • 12. But we have this… We need ideas Call a meeting Competitor wins/funding gets cut We shoot down ideas No progress We schedule more meetings
  • 13. A better way?
  • 14. Pedigree System Originated at P&G Optimized Over 26 Years 88% Repeat Rate Peer Reviewed & Approved Academic Minor & Graduate Certificate 12 Universities/Colleges Adapted to work with Small Companies 7,000+ in past 3 years
  • 15. USA INNOVATION ACCELERATED BY THE 1,400 MEMBER NIST/MEP NETWORK AMERICA’S #1 GROWTH TEAM
  • 16. What makes Innovation Engineering Different? 1.) Systems Focus 3.) Engineering Mindset Our inventing program applies the systematic approach of Deming Total Quality and SixSigma to Innovation. We use a collection of proven and validated tools continuously improved from the experience with 400+ clients. 2.) Grounded in Data and R&D 4.) Meaningful Uniqueness Eureka! Ranch has quality control charted and studied 26,000+ innovations, and 6,000+ innovation teams over the past 26 years to build the best innovation system in the world. The Eureka! Ranch is legendary for its singular focus on creating big ideas that are "meaningfully unique" to customers, companies and those working on them.  FOUNDATION The Research, Application & Teaching of Dr. W Edwards Deming
  • 17. Transforming Innovation: From a random art…. to a Reliable Business System that delivers increased speed and decreased risk
  • 18. What prevents innovation?
  • 19. Innovation Problems Survey of CEOs of Small to Mid Sized Companies Problem #1 It can take a LONG TIME to see results Problem #2 It can be very RISKY
  • 20. the stages of the I.E. system… s CREATE TOOLS pro c es pro duc COMMUNICATE TOOLS COMMERCIALIZE TOOLS 1/3 (30 – 90 Days) $ ts 2/3 5% $ 95% sales services •CREATE New •Capture Existing Ideas •Customer •Problem •Promise •Proof •Difference Define •Concept •Maths Model ($+ Costs) •Threats (unknowns) ma Fail Fast Fail Cheap kets mar rke ti ng $ •LPD •Stagegate •Design 6 σ •FFFC •Faster (6x) •Less Risk (30-80%) t ar Sm ill K Discover Develop Deliver
  • 21. Adding DEFINE & DISCOVER System Increases odds of Success by 250% Fuzzy Front End DEFINE DEFINE DISCOVE DISCOVE R R Clarity on... Death Threats • Customer • Problem • Promise • Proof • Price • Passion • Purpose • Math Improve Confidence in Uncertainties, Unknowns DEVELOP DEVELOP DELIVER DELIVER Make it Real Go to Market 1.Plan Plan to address Death Threat 4.Act Apply Revise Stop 2.Do Learn 3.Study What learned? GO / NO GO Decision
  • 22. e M lly fu g in an If you’re not Unique you better be Cheap
  • 23. “Meaningful Uniqueness” means Customers are willing to pay more money for your offering.... Your Product offering Your Service offering You as an Employee offering
  • 24. Our Destination Meaningfully Unique Meaning Purpose Value Significance Novel Unusual Provocative Unexpected
  • 25. Meaningfully Unique Means... Patentable Meaningful (Useful) Solves a Benefit PROBLEM PROMISE Unique (New to the World & Non Obvious) Not been Not Been Done Patented Conversely: If not patentable then the innovation is obvious or a simple leap. Not a Logical LEAP To someone skilled in area
  • 26. WE focus on the System... Innovation Engineering “Operating System” MU = S D F 3 Common Sense Principles Applied with Discipline
  • 27. Leverage Diversity Explore Stimulus CREATESkills & Tools Meaningfully Unique Ideas = Drive out Fear COMMUNICATE Skills & Tools COMMERCIALIZE Skills & Tools
  • 28. Global Competitors Technology & Wisdom Leverage Diversity Explore Stimulus Customer Insights Meaningfully Unique Ideas Cost, Price Estimating Mega-Shifts Market Trends Create / Problem Solving Sessions CREATESkills & Tools = Drive out Fear Request Platform Define: Customer Problem Promise Proof COMMUNICATE Skills & Tools Sales Forecasting Fail FAST, Fail CHEAP Experimentation COMMERCIALIZE Skills & Tools
  • 29. A New Field of Study - 48 Skills IE Minor, Grad Certificate, IE Black Belt Certification CREATE 1. Meaningful Uniqueness 2. Stimulus & Diversity 3. Drive Out Fear 1.0 4. Stimulus Mining Fundamentals 5. Tech Mining - Patent 1.0 6. Advanced Mining 7. Create Session - Spark Decks 8. Mechanical Thinking System 9: Create Session Customization 10. Lateral Thinking Systems 11. TRIZ 12. Problem Solving Session COMMUNICATE 1. Customer & Problem 2. Benefit Promise 3. TRUE Proof 4. Clarity 5. Complete Ideas 6. Ideas to Paper 7. Advanced Benefit Promise 8. Secondary Proof 9. Patent 2.0 10. Communication Translations 11. Proactive Selling 12. Meaningful versus Mindless Marketing COMMERCIALIZE SYSTEMS 1. Drive Out Fear 2.0 1. Preparing for a Create Session 2. Fermi Estimating 2. Leading a Create Session 3. Cost & Price Estimating 3. Project Coaching 4. Forecasting 4. Management Coaching 5. Business Models 5. Patents 4.0 6. Patent 3.0 6. Advanced Insight, Tech Mining 7. The Development Process 7. Cultural Change Systems 8. Plan, Do, Study, Act 8. Forensic Analysis for Root Causes 9. Death Threats First Steps 9. System & Departmental Integration 10. Fail Fast, Fail Cheap Prototypes 10. Innovation Supply Chain - Inside 11. Simultaneous Engineering 11. Innovation Supply Chain - Outside 12. Making GO/NO GO Decisions 12. Proactive Leadership
  • 30. 2 Key Tools that Drive the Process BlueCard LEADERSHIP Leads by defining Very Important Opportunities and Systems to be addressed YellowCar Those“Closest to the Work” d Define & Discover Meaningfully Unique Solutions to fulfill the Mission WHA T WH Y WE NEED WE NEED IT HOW TO FULFILL
  • 31. 3 Key Roles that Drive the Process Project Leader The “Energy Source” and Leader of each Innovation Project. Management Coach The Organizational Navigator for the Innovation Project. Process Coach The Innovation Engineering Black Belt who keeps IE Discipline throughout the Process
  • 32. 3 Key Meetings that Drive the Process WEEKLY PROJECT Coaching To Increase Speed & Decrease Risk •Define •Discover •Develop •Deliver MONTHLY QUARTERLY PROCESS Review Review What We Have Learned •Review Strategy / •On Process •On Projects •Review Pipeline per PIPELINE Review Revise Blue Cards Blue Card •Review Green & Black Belt Certification Status
  • 33. TYPICAL JUMP START CREATE COMMUNICATE COMMERCIALIZE 1. Stimulus Mining 1. Customer Problem 1. Do the Math 2. Diversify Thinking 2. Benefit Promise 2. Action Plan 3. Drive Out Fear 3. Product/Service Proof 3. Fail Fast, Fail Cheap Pre-Work Stimulus Mining 12:30-2pm Refine Present & Select Ideas 8-12pm Creative Exercises Morning 2-3pm Training & Numbers 3-5pm Action Planning Afternoon
  • 34. Leverage Diversity Explore Stimulus CREATE Meaningfully Unique ideas = Drive out Fear
  • 35. COMPUTER Stimulus sets off a CHAIN Reaction!!!
  • 36. More Stimulus = More Ideas (Quantity & QUALITY) Where To Go On Vacation?
  • 37. 5 Categories for Stimulus Mining 1 1 3 3 2 2 4 4 TECH Mining Market Mining Insight Mining Future Mining Fast & Easier to Find Harder & Deeper Thinking Involved + 5 5 “Gut Instincts and Ideas” 2 ho u sess r ion
  • 38. Using Voice of the Customer Research for Ideas, Insights, and Opportunities Insight Mining • Connect with customers and non-customers, read blogs, forums, and news posts about your company or industry at large. How customers are using, misusing, and adapting to our offering www.digg.com www.boardreader.com www.google.com/blogsearch
  • 39. Benchmarking versus the Marketplace and Competitors for Ideas and Inspiration Market Mining Compare your offering with alternatives; Borrow Brilliance from non-competitors in different industry sectors or countries What we are searching for... Explore how competitors in other cities, states, countries market similar services • What do they promise customers? • How do they package / price their offering? • What do they communicate to build credibility? Explore how different industries have excelled at delivering personilization • What do they promise customers? • How do they package / price their offering? • What do they communicate to build credibility? Search for Patent and Trademark Filings by Competitors ◦ ◦ ◦ ◦ Go to freepatentsonline.com Click on Search Click on Quick Search Scroll down to "Assignee". List a Company Name
  • 40. Market Mining
  • 41. For Insight and Market Mining, surveys can be easy and free Market Mining Tradeshows: Walk the floor
  • 42. Leverage Facts & Innovation Assets from Inside and Outside your Organization TECH Mining Mine for new technologies, potential partners, academic research, inventor expertise. What we are searching for... Search for academic articles and wisdom at www.Scholar.google.com •Looking at psychology and decision making, shopping behavior •What does the latest research tell us about people interacting with technology? •Are there studies about moments of joy and happiness Search for technology and expertise that we could leverage or connect to •www.TechMining101.com •www.Google.com/Patents •USAInnovation.org links to high-tech technologies good for USA patents good for business ideas •www.FreePatentsOnline.com good for International patents
  • 43. TECH Mining
  • 44. More techmining101 TECH Mining
  • 45. Someone had an idea that you could use or What if… produce?
  • 46. Don’t define techmining success as a “bulls eye”! TECH Mining
  • 47. TECH Mining
  • 48. Stretching Minds to Anticipate the Future Future Mining Explore trend forecasters, read industry news, connect to Lead Users, Industry Experts What we are searching for... Anticipating the Future: • What market segments do you see becoming much bigger over the next 5 years? • Where do you see technology going 5 years or 10 years from now? • What regulatory, raw material and other operational challenges do you see in the next 5 to 10 years? Read about MEGA SHIFTS that could have an impact Start with simple GOOGLE searches on identifying trends • Example Search: Trends in Customer Personalisation • Example Search: Trends in Privacy Regulations Online • Example Search: “Customer Name” Trends • What are our customers are saying about the future, how will their behavior change? - trendwatching.com www.google.com/trends www.trendwatching.com www.ted.com www.futurist.com
  • 49. Every month a new briefing on trends on trendwatching.com Future Mining Are you watching the major transformations or just the piddly stuff?
  • 50. Diversity Diversity Is Your • Frame of reference • Point of view And Is Influenced By Your • Life Experiences • Functional Job Area • Optimism/Pessimism • Personal Thinking Style • Education Experiences THE MORE YOU HAVE, THE MORE YOU HAVE.
  • 51. WARNING: Fast Paced Day HIGH SPEED LET’S GET START
  • 52. DIFFERENCE VS WORLD CLASS Concern (-15 or less) Caution (-14 to -6) Readiness to CREATE -13% Agreement with NEED to accelerate Innovations URGENCY for company to take action -16% Company success with innovation -26% Company's Attitude Toward taking action - courage -24% Thinking Style (minus = Left Brain) -45% Creativity and innovation rewarded -25% Optimism towards taking action -29% NOTE: Shared with CEO in advance Good (-5 or over)
  • 53. DIFFERENCE VS WORLD CLASS Concern (-15 or less) Caution (-14 to -6) Good (-5 or over) Readiness to Execute Sufficient resources to get the job done People I work with cooperate to get the job done -17% -9% -16% High level of respect for senior leaders -0% Talents are used well Overall quality of work done -13% -2% Place to Work NOTE: Can measure over time
  • 54. Create EVERY VALIDATED & RELIABLE METHOD for CREATING INNOVATIONS Genrich Altshuller Andy VanGundy Doug Hall Edward DeBono Alex Osborn George Prince Tony Buzan
  • 55. CREATE Sample
  • 56. TODAY’S PURPOSE To create, select and refine meaningfully unique ideas for XXXXXXXXXXXXXX
  • 57. GET UP MOVE TO A DIFFERENT TABLE
  • 58. SPARK DECK •Take Notes on Stimuli
  • 59. Aerosp ace
  • 60. Who needs the performance most?
  • 61. Marines’ heavy-lift helicopter fleet • In 2013, the Marine Corp is expected to begin taking delivery of the new Sikorsky CH-53K, which will provide the backbone of the Marines’ heavy-lift helicopter fleet. The CH-53K features Sikorsky’s performance-enhancing fourth generation anhedral composite rotors and a hybrid composite/metal fuselage, enabling the aircraft to lift roughly 36,000 lb of cargo. • While the aircraft’s design and manufacturing details are still carefully guarded, estimates are that advanced composites will make up more than 80 percent of its structural weight. Initial operating capability is expected in 2015, with four aircraft per detachment. • The Marine Corps is expected to purchase 156 CH-53Ks between 2013 and 2021 at a total cost of more than $14 billion.
  • 62. Vacuum infusion Process • The latest version of the Boeing composites technology is called Pultruded Rod Stitched Efficient Unitized Structure (PRSEUS). "This is completely reinventing how a composite structure is designed and manufactured," says Harber. One of the keys is a vacuum infusion process in which a minimal amount of resin is pulled into a tool to cover the fibers. Another key to the use of PRSEUS is use of a pultruded rod attached to the skin as a stiffener. This could eliminate the need for thousands of fasteners on an entire aircraft. Pultrusion is a process dating back to the 1950s in which composites are pulled through a heated die, creating a very strong linear shape.
  • 63. FRP Composite Wall Panel with Enhanced Action and Method of Manufacture • Researchers at the University of Utah have developed a composite wall panel with increased shear resistance and axial load capacity. The wall incorporates (FRP) cages into the composite wall panels that secure the layers of the panels against multiple forces, including shear. Typical composite panels have two major disadvantages. First, they have a very small shear resistance. Most of the shear of a typical sandwich panel occurs in the middle third of the panel where the insulation layer lies. The second • disadvantage is that they cannot be used • in load bearing and structural applications.
  • 64. A Team Builds Composite Space Capsule with Future • in Mind NASA Engineering and Safety Center (NESC) established a team of structures experts to gain experience in using composites and suggest an alternative approach for future spacecraft designers. NESC’s nationwide government-industry team tackled a challenging assignment: Build the internal, primary structure for a space capsule like the Orion crew module that NASA is developing for a 2020 return to the moon, but make it out of composites. Could we lend a hand?
  • 65. UAV Composites have evolved into a major role in all types of aerospace applications. Nowhere has the growth been faster than in Unmanned Aerial Vehicles. In both military and civilian applications, UAVs are used for observation, photography, communications, and as weaponsdelivery platforms. Whether it is a Predator drone or a handlaunched ultralight observation craft, strength, weight, and cost are all critical.
  • 66. • 2011 Annual report: • Subobjective 1B: Develop and optimize the use of autonomous unmanned aerial vehicles (UAVs) for pest control.
  • 67. Yellow Cards Please write up any yellow cards
  • 68. Overtly, Directly “Break the Laws” • All companies/organizations end up with a set of “laws.” • Things we NEVER DO and ALWAYS DO
  • 69. Task: Ideas for Improving the Operational Processes for a Coffee Shop Lawbreaker 1. INDIVIDUAL 2. PAIR List Absolute Laws & Truths Individually, list things that we always/never do. Always 1. Never 4. Boldly Break the Laws Roll Die or randomly Pick a LAW 3. Idea Engineering TEAM Share Your Idea Write Ideas and Advice From Team With partner, think of possibilities that break the law. 2 Law # ____ Always make espresso and cappuccino coffee drinks to order Never stay open in the evening as people don’t buy coffee late at night. What if we…. Or what if we…. 2. 5. Always use Never provide disposable cups and table side service. lids with take out customers. Invite customers to bring their own cup, whatever size, and we’ll fill it up for a fixed price. (we save on disposable hassle and waste. 6 Law # ____ What if we…. 3. 6. Always have one person take the order and another make the coffee drink. Never reuse old coffee beans. Or what if we…. Donate old beans to the botanical gardens ‘Give back for Green’ program - get a tax credit. Jot down ideas and advice here 4. Industrial Strength INVENTING INDIVIDUAL Capture Best Ideas on YELLOW CARDS
  • 70. •Po…There are no books •Po…Students teach the Professors •Po…There are no exams •Po…There are no classrooms •Po…MBA is free in return for….
  • 71. Yellow Cards Please write up any yellow cards
  • 72. REPORT OUT! THUNDEROUS APPLAUSE GUARANTEED
  • 73. Generate 100+ ideas
  • 74. Communicate
  • 75. Pick an idea that you LOVE AND makes sense for the Company
  • 76. Clarity! Think Deeper on Each Dimension 1. Customer Problem 2. Promise a Benefit 3. Provide Proof
  • 77. GOLDEN RULE OF CLARITY Let a customer say NO because what you offer doesn’t apply to them. But NEVER let a customer say NO because they don’t understand what you’re offering.
  • 78. Key Concept: Overt Benefit PROMISES solve PROBLEMS Target AUDIENCE Benefit PROMISE “who” “what” has a Problem is in it for that customer
  • 79. Benefit Promise is Why I Should Care
  • 80. Features are not Benefits Features are the - Facts - Figures - Technology - and Details That make up your offering
  • 81. Benefits are “What’s In it for the Customer” What they will Receive, Enjoy, Experience In exchange for their Time, Trouble, Trust and Money
  • 82. feature benefit PROMISE reduces rollover risk stabilization control
  • 83. feature Contains Benzocaine 7.5% benefit Fast Teething Pain Relief
  • 84. WHY should I care? WHY should I care? WHY should I care? WHY should I care? WHY should I care?
  • 85. A NUMBER Increases odds of success by 52%
  • 86. Product / Service Proof You DOUBLE your odds of Success when you Communicate REAL PROOF That you can deliver on your Benefit Promise. Real Reason To Believe Low Level Proof Medium Level Proof High Level Proof Probability of Success 18% 29% 42%
  • 87. It’s Simple BE REAL Tell the TRUTH about How You Can Do What Others Can’t
  • 88. Test Results In an independent, blind test, frequent business travelers rated the Sony NC500D headphones #1 twice as often as either the Bose® QS™ or QC™ 3 in overall noise cancelation and audio quality.
  • 89. Testimonial EXPERT Testimonial Laser Vision Correction Testimonials from DOCTORS who have used this DOCTOR for Eye Surgery
  • 90. Demonstration
  • 91. Guarantee
  • 92. Pedigree Scotch Whisky Uses Source Pedigree Moss water, passing over rocky falls, steeped in mountain air and moorland peat ... 15 Years Old Exclusively Matured In Sherry Oak Casks
  • 93. ON SI FU ON C is not a strategy for success
  • 94. Research recommends that you should Write So That A 12 Year Old Can Painlessly Understand Your Idea
  • 95. Customer Pitch Sheet Fill in the blanks to Get us in the Game
  • 96. Free Writing Use Prompts to Organize Thoughts On ink Th age eP th to
  • 97. To: who is the customer, Final Decision Maker? Subject: Idea in one sentence Are you frustrated with - What customer problem are you addressing? Introducing - name suggestive of the Benefit Type of Product / Service / Process. To Promise- offer a specific, numeric claim Here’s How it works - Tell us how the product or service works, step by step. Added Credibility - test results, testimonials, guarantees, demonstrations Value and Cost - Initial guess at unit cost. Why do you love it?
  • 98. Pitch Sheet Reminder Use COMPLETE sentences. Be sure to use complete sentences. Please use complete sentences. I beg you, use complete sentences. Complete sentences are essential. Let me be clear... use complete sentences.
  • 99. Refine and Present 1. 2. Passion Drives 60 Second Clarity Success 3. Pitch Your Idea Each person will read their Pitch Sheet aloud
  • 100. Pitch Time
  • 101. Commercialize
  • 102. Meaningfully UNIQUE Ideas Require Change Change Causes CHAOS CHAOS
  • 103. CHANGE Sparks FEAR =
  • 104. Purchase Intent Meaningfulness The PROBLEM with Innovations 8 7 6 5 4 3 2 1 0 0 1 2 3 4 5 6 7 New & Different Uniqueness 8 9
  • 105. The Goal of Fail FAST Fail CHEAP To Make the Unknown Known
  • 106. “94% of failures are due to the SYSTEM 6% are due to the worker” A Systematic Approach to Commercialization...
  • 107. 4 Principles of the Commercialization System 1. Focus on Biggest Death Threats 2. Fail FAST Fail CHEAP 3. Simultaneous Engineering - Concept + Math Game Plan 4. Passionate Volunteer
  • 108. Focus on Biggest Threats First Turn KILLER Threats Into Manageable Threats 1. Plan What Death Threat? 4. Act Apply Revise Stop KILLER Death Threat 2. Do Learn 3. Study What learned? Manageable Threat
  • 109. Focus on Biggest DEATH Threats Most Common in Early Stage Development Does the Customer Care? - Does it solve a real problem? - Is the benefit something people want? Will it Work? - Can we feasibly deliver the benefit? Can we Make Money? - Will the customer pay for the benefit? - Will the business model produce a profit?
  • 110. Options for Uncertainty PROBLEM “Proper & Mature” Business Innovation System Fail FAST - Fail CHEAP Dissolve Risks with Small Steps Expensive & Slow 1. Plan 1. Plan 4. Act 2. Do 1. Plan 4. Act 2. Do 3. Study 2. Study 2. Study 2. Study 2. Study 1. Plan 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 2. Study 4. Act 3. Study 1. Plan 2. Do 3. Study 4. Act 2. Do 3. Study
  • 111. Fail FAST Fail CHEAP Small Steps That Can Be Completed in 7 Days 1. Plan What Death Threat? 4. Act Apply Revise Stop 2. Do Learn 3. Study What learned? To Build Momentum World Class = 1 Hour Cycle
  • 112. Only USE Fail FAST Fail CHEAP If the idea is really MEANINGFULLY UNIQUE and thus “high uncertainty” Otherwise - just do it or kill it
  • 113. Fail FAST Fail CHEAP Methods Dig for Make it WISDOM REAL Data & Research Dig Technology & Patent Dig Inventor & Expert Dig Feel the PAIN (Problem) Fast “Works Like” Prototype Fast “Looks Like” Prototype Do the Ask for NUMBERS ADVICE Fermi Estimate Sales Fermi Estimate Cost Reduce Uncertainty Innovation Supply Chain Customer Feedback - Problem - Idea / Product - Concept - Feedback Session
  • 114. The Key Words are FAST Fail CHEAP Fail
  • 115. USA National Innovation Marketplace
  • 116. Lets take a test drive…
  • 117. CREATE
  • 118. TODAY’S PURPOSE To create, select and refine meaningfully unique ideas for SUNY Albany weekend MBA program (EXAMPLE)   Note: No mining from participants
  • 119. SPARK DECK •Take Notes on Stimuli
  • 120. GET UP MOVE TO A DIFFERENT TABLE
  • 121. UVM sustainable MBA
  • 122. Sustainability Partners • DEC • Ecovative • Pollution Prevention Institute How can we
  • 123. Trends • Apple’s App Store currently offers 9,000 mobile health apps (including nearly 1,500 cardio fitness apps, over 1,300 diet apps, over 1,000 stress and relaxation apps, and over 650 women’s health apps) and by mid-2012, this number is expected reach 13,000 (Source: MobiHealthNews, September 2011) How could this change our processes? MBA aps? How could we integrate?
  • 124. Favorite MBA App’s Should we have one? What should it do?
  • 125. Aps aps everywhere…
  • 126. MBA - Mobile
  • 127. Professor Siri?
  • 128. Google Glasses… Coursework available on demand?
  • 129. Customize
  • 130. Multiple schedule options
  • 131. Cycles of Mastery
  • 132. HERE COME THE BOOMERS….. Future Mining AND THEY ARE A LITTLE DIFFERENT http://www.census.gov/population/www/projections/index.html
  • 133. Future Mining Every 8 seconds someone in the US turns 65 for the next 20 years. What does that mean for us?
  • 134. Soft skills Should we help MBA’s address
  • 135. DIY • Saad tapped into existing social and professional networks to write an 18-month plan for what he dubbed the Leap Year Project--a series of 12 business apprenticeships in the course of 12 months, he told Inc. • His "leaps" consisted of month-long partnerships with designers, architects, nonprofit administrators and entrepreneurs--professionals with experience in his desired areas of focus, design, and social enterprise. Saad approached them each with this proposal: I will come into your company for one month, identify any gaps in operation, and apply my skills to help you close those gaps.
  • 136. http://expinstitute.com/ Reinventing the classroom. Experience Institute is a 12-month higher education program that partners with companies, creative workshops, and conferences to place students within real world learning experiences. Our mission is to establish experiences as a valuable & credible form of higher education and to equip self-starting individuals with the tools necessary to transform our world with an inventive spirit.
  • 137. What could we steal?
  • 138. Topic specific guests… Every session…
  • 139. What if… Students selected monthly
  • 140. DIY
  • 141. VOC “Maybe split the program up into 2 or 3 programs that focus on a more specific audience... on markets or industries instead of general functions... maybe like an exec MBA that focuses on high growth industries / markets.” “Partner with a foreign MBA program where you are linked with another cohort that you can share ideas, do projects together... they would be on the same timeline... graduate together, maybe even do international trip to that school's country,
  • 142. The Best International Business MBA Programs • Thunderbird School of Global Management • Thunderbird School of Global Management calls its international business MBA the MBA in Global Management. U.S. News and World Report ranks Thunderbird as Number 1 on the rankings for international business MBA programs. Students at Thunderbird are required to choose a 12semester-hour focus area in global development, entrepreneurship, finance, management, marketing or design your own. Students must also study a second language and have access to study abroad and exchange programs. What could we do?
  • 143. Online MBA “The self designed specifications are perfect for students who have very specific professional goals in mind” Should we tailor?
  • 144. Concierge
  • 145. Berkeley-Haas & EmpoweredU to Launch Mobile Learning Platform
  • 146. Research
  • 147. What would we change?
  • 148. Are we teaching the right stuff? • • “Business school stakeholders largely agree with practicing managers that human capital competencies are among the most important to be trained within MBA programs” “if MBA programs do in fact train future leaders and not managers, where are all the courses dedicated to leadership”
  • 149. Global campuses…. SUNY.. Asia South America Prague…
  • 150. World’s 50 Best Business School Professors by Andrea Carter • The list includes famous superstar professors, such as Harvard’s Clayton Christensen, Wharton’s Jeremy Siegel and Stanford’s Jeffrey Pfeffer, as well as faculty little known outside their schools or fields of study, such as operations maven Michael Trick at Carnegie Mellon or finance expert Dana Muir at Michigan’s Ross School of Business. Some 12 of the 50 are women, while nine are Indian, including Dartmouth’s Vijay Govindarajan, the innovation guru at the Tuck School, and NYU’s Aswath Damodaran, the self-effacing master of finance at the Stern School.
  • 151. Most Popular profs at Top business schools • To determine which professors at the Top 30 U.S. full-time MBA programs were most popular, Bloomberg Businessweek used surveys sent to 2010 graduates asking them to identify their two favorites. 1. Aswath Damodaran Finance professor at New York University Stern School of Business A seven-time recipient of Stern's "Professor of the Year" award, Damodaran practices open-source teaching, posting almost all his class materials on his blog. He's also one of the few business school professors to have inspired a tribute video on Youtube; the video spoofs pop star Justin Bieber's Never Say Never movie trailer. In the 89-second clip, the handiwork of a student, Damodaran proclaims "I want to be the Lady Gaga of finance." He has more than 4,000 followers on Twitter.
  • 152. Recruiting 1,2,3
  • 153. Yellow Cards Please write up any yellow cards
  • 154. REPORT OUT! THUNDEROUS APPLAUSE GUARANTEED
  • 155. Contact info: Donald J Wiesenforth Assistant Director of Innovation Albany Medical Center 43 New Scotland Avenue C-635 Albany, NY 12208 wiesend@mail.amc.edu office: (518)-262-1655 cell: (518)-813-1460