Corporate
Entrepreneurship
Dr Tendayi Viki
University of Kent
Website: www.tendayiviki.com

Follow Me: @tendayiviki
The Importance of
Innovation
PWC research shows that, over the last three
years, the leading innovative firms have
grown at a rate 16% higher than the ...
PWC’s Innovation Survey, 2013
http://www.pwc.com/gx/en/innovationsurvey/files/28222_GIS_Final_HiRes.pdf
What is Lean Innovation?
The Narrative
The Reality
Stephen J. Kline & Nathan Rosenberg (1986)
An Overview of Innovation

“Models that depict innovation as a smooth, wellbeha...
Stephen J. Kline & Nathan Rosenberg (1986)
An Overview of Innovation

“Thus, an important and useful way to consider the
p...
What we learn in
business
school…
Business planning is
problematic:
• Because it describes as linear, a process
that is actually non-linear.
Business planning is
problematic:
• Because it places too much emphasis on
the value of the initial idea.

• It also gears...
Do not place too much
emphasis on the value of
your initial business idea.
People are terrible at predicting what other
pe...
You probably think your
product idea is this cute…
But this is what it looks
like to your customers!
The difficult discipline
is in deciding:
• How much effort you want to put into execution and
optimization, before you are...
The Innovation
Thesis
A Path for Searching:
For a sustainable and
profitable business model for
your idea.
Innovating is Really Like a
Doing Research Project:
We should not be making business plans, we
should view our initial bus...
The Innovation Team is a
Research Team:
All hands on deck, to learn what
customers want…
And a sustainable/profitable way ...
A Significant Contribution:
The significant contribution of a startup
is building something people want…
Upon achieving pr...
Eliminate Waste
Stephen J. Kline & Nathan Rosenberg (1986)
An Overview of Innovation

“The majority of inventions that have been recorded ...
Michael L. Tushman & William L. Moore (1982)
Readings in the Management of Innovation

Of the 1800 successful innovations ...
Stephen J. Kline & Nathan Rosenberg (1986)
An Overview of Innovation

“Both technical and market needs must be met for
suc...
The Scientific Method
Applied to Innovation and Entrepreneurship
Eric Ries (2011)
The Lean Startup
http://lean.st
Ash Maurya (2012)
Running Lean
http://www.runningleanhq.com/
Ash Maurya (2012)
Running Lean
http://www.spark59.com/
A Tool for Experimentation
The Minimum Viable Product
Source: @ryanmaccarriga
Lean Innovation Inside the Corporation
The Innovation Sandbox
Key Principle

Innovation must be managed
strategically, it cannot be done
successfully in a haphazard
fashion.
Nagji & Tu...
The Innovation Ambition Matrix

Nagji & Tuff (2012)

Harvard Business Review
Innovation Portfolio

Nagji & Tuff (2012)

Harvard Business Review
Innovation Returns

Nagji & Tuff (2012)

Harvard Business Review
Innovation Portfolio

Nagji & Tuff (2012)

Harvard Business Review
Inside the Innovation Sandbox
Firms must develop the unique
capacities needed for transformational
innovation:


Innovati...
Inside the Innovation Sandbox
Firms must develop the unique
capacities needed for transformational
innovation:


Funding ...
Inside the Innovation Sandbox
Firms must develop the unique
capacities needed for transformational
innovation:


Talent w...
Inside the Innovation Sandbox
Firms must develop the unique
capacities needed for transformational
innovation:


Pipeline...
Inside the Innovation Sandbox
Firms must develop the unique
capacities needed for transformational
innovation:


Metrics ...
Eric Ries (2011)
The Lean Startup
http://lean.st
THANK YOU
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
Corporate Entrepreneurship @Kent2020
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Corporate Entrepreneurship @Kent2020

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This is a presentation for a workshop on Corporate Entrepreneurship delivered at Kent 2020 on Oct. 23rd 2013

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Corporate Entrepreneurship @Kent2020

  1. 1. Corporate Entrepreneurship Dr Tendayi Viki University of Kent Website: www.tendayiviki.com Follow Me: @tendayiviki
  2. 2. The Importance of Innovation
  3. 3. PWC research shows that, over the last three years, the leading innovative firms have grown at a rate 16% higher than the least innovative. PWC’s Innovation Survey, 2013 http://www.pwc.com/gx/en/innovationsurvey/files/28222_GIS_Final_HiRes.pdf
  4. 4. PWC’s Innovation Survey, 2013 http://www.pwc.com/gx/en/innovationsurvey/files/28222_GIS_Final_HiRes.pdf
  5. 5. What is Lean Innovation?
  6. 6. The Narrative
  7. 7. The Reality
  8. 8. Stephen J. Kline & Nathan Rosenberg (1986) An Overview of Innovation “Models that depict innovation as a smooth, wellbehaved linear process badly misspecify the nature and direction of the casual factors at work….. Innovation is complex, uncertain, somewhat disorderly, and subject to changes of many sorts…”
  9. 9. Stephen J. Kline & Nathan Rosenberg (1986) An Overview of Innovation “Thus, an important and useful way to consider the process of innovation is as an exercise in the management and reduction of uncertainty” (pg. 275).
  10. 10. What we learn in business school…
  11. 11. Business planning is problematic: • Because it describes as linear, a process that is actually non-linear.
  12. 12. Business planning is problematic: • Because it places too much emphasis on the value of the initial idea. • It also gears up the organization for execution and operational effectiveness.
  13. 13. Do not place too much emphasis on the value of your initial business idea. People are terrible at predicting what other people will pay money for!
  14. 14. You probably think your product idea is this cute…
  15. 15. But this is what it looks like to your customers!
  16. 16. The difficult discipline is in deciding: • How much effort you want to put into execution and optimization, before you are certain that you are on the right path…
  17. 17. The Innovation Thesis
  18. 18. A Path for Searching: For a sustainable and profitable business model for your idea.
  19. 19. Innovating is Really Like a Doing Research Project: We should not be making business plans, we should view our initial business model as a research proposal.
  20. 20. The Innovation Team is a Research Team: All hands on deck, to learn what customers want… And a sustainable/profitable way to deliver that value to them….
  21. 21. A Significant Contribution: The significant contribution of a startup is building something people want… Upon achieving product-market fit, a startup graduates…
  22. 22. Eliminate Waste
  23. 23. Stephen J. Kline & Nathan Rosenberg (1986) An Overview of Innovation “The majority of inventions that have been recorded at the US Patent Office have never been introduced on a commercial basis” (pg. 276).
  24. 24. Michael L. Tushman & William L. Moore (1982) Readings in the Management of Innovation Of the 1800 successful innovations tabulated by Donald G. Marquis in 1976, almost three quarters were the result of perceived market need, and only one quarter from perceived technical opportunity.
  25. 25. Stephen J. Kline & Nathan Rosenberg (1986) An Overview of Innovation “Both technical and market needs must be met for successful innovation” (pg. 276) Successful Innovation: The Technological + The Commercial In Other Words: Product – Market Fit
  26. 26. The Scientific Method Applied to Innovation and Entrepreneurship
  27. 27. Eric Ries (2011) The Lean Startup http://lean.st
  28. 28. Ash Maurya (2012) Running Lean http://www.runningleanhq.com/
  29. 29. Ash Maurya (2012) Running Lean http://www.spark59.com/
  30. 30. A Tool for Experimentation The Minimum Viable Product
  31. 31. Source: @ryanmaccarriga
  32. 32. Lean Innovation Inside the Corporation The Innovation Sandbox
  33. 33. Key Principle Innovation must be managed strategically, it cannot be done successfully in a haphazard fashion. Nagji & Tuff (2012) Harvard Business Review
  34. 34. The Innovation Ambition Matrix Nagji & Tuff (2012) Harvard Business Review
  35. 35. Innovation Portfolio Nagji & Tuff (2012) Harvard Business Review
  36. 36. Innovation Returns Nagji & Tuff (2012) Harvard Business Review
  37. 37. Innovation Portfolio Nagji & Tuff (2012) Harvard Business Review
  38. 38. Inside the Innovation Sandbox Firms must develop the unique capacities needed for transformational innovation:  Innovation teams should be separated from day-to-day operations (Innovation Sandbox). / Nagji & Tuff (2012) Harvard Business Review
  39. 39. Inside the Innovation Sandbox Firms must develop the unique capacities needed for transformational innovation:  Funding should come from outside the normal budget cycle (Stable and Predictable Funding). / Nagji & Tuff (2012) Harvard Business Review
  40. 40. Inside the Innovation Sandbox Firms must develop the unique capacities needed for transformational innovation:  Talent within innovation teams should include a diverse set of skills (Cross-Functional Teams). ◦ Creatives, Designers, Anthropologists, Scenario Planners and Analysts; that are able to deal with ambiguous data. / Nagji & Tuff (2012) Harvard Business Review
  41. 41. Inside the Innovation Sandbox Firms must develop the unique capacities needed for transformational innovation:  Pipeline management should focus on the iterative development of a few promising ideas, not the ruthless filtering of many (BuildMeasure-Learn).  It is impossible to predict fifth-year sales for something the world has never seen. Nagji & Tuff (2012) Harvard Business Review
  42. 42. Inside the Innovation Sandbox Firms must develop the unique capacities needed for transformational innovation:  Metrics should recognize nonfinancial achievements in early phases (Innovation Accounting).  What if the only hurdle to clear to receive investment is that the company might learn something. Nagji & Tuff (2012) Harvard Business Review
  43. 43. Eric Ries (2011) The Lean Startup http://lean.st
  44. 44. THANK YOU
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