CEO Innovation Playbook Public Short - Idris Mootee Part One

Part 1 of 2 The CEO’s Innovation Playbook Idris Mootee CEO idea couture inc. 1

Copyright 2007 by Idris Mootee All rights reserved. Without limiting the right under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or any means, without the prior written permission of the author. This book is for limited circulation only and is not available for sale. A version of this book is available as special order for corporate training and executive education. To 2 inquire about quantity order with your organization logo printed on the cover and limited customized content, please contact the author.

quot;The only source of profit, the only reason to invest in companies in the future is their ability to innovate and their ability to differentiate.quot; - Jeffrey Immelt, GE 3

This is a manifesto for those of us who believe innovation is the heart of business and strategy. Design Thinking is the new Management Practice that fuels innovation. 4

strategy consultants + experience architects left brain + right brain The design approach to business strategy and management problem solving d school + b school

In the next 10 years, almost every theory we’ve learned about “management” in b-school will be retested.

Looking back the last 50 years we’ll quickly realize that “management” was designed to solve a very different kind of business problem -to perform certain tasks in a repetitive fashion and a controlled manner while increasing scale and scope both locally and globally. 8

Faith- Apple Google based Mgmt. Toyota Starbucks system -based Bottom-up Top-down 9

Throughout history, seismic shifts have wiped out market leaders and created entirely new industries. Today, conditions are remarkably ripe for innovation—capital is ample and disruptive new technologies are springing up everywhere. 10

Yet many businesses are missing out— over-managing and under-innovating. What these businesses need most is need a new way of seeing. They need to the ability to look beyond the status quo and see the seeds of opportunity—the disruptive collisions that innovation is built on. That’s what this playbook is all about. 11

Why innovation? Innovation is now the No.1 priority on the CEOs' agenda. Whatever industry you’re in, it’s gone from a quot;nice to havequot; to a quot;must havequot;. And as it moves from the fringes to the center, the way we understand and approach it must shift as well. 13

Why innovation? Companies today gravitate towards one of the two cultures, the innovation-driven or the execution-driven. They need both to succeed. Forget innovation as a serendipitous art. It’s time for innovation as a science—something organizations can develop, execute and measure like any other business initiative. 14

There's a common—and mistaken—belief that innovation needs to be radical, edgy, a little bit crazy. But in a business strategy context, there’s nothing crazy about it. In fact, it boils down to doing three things well. 15

1 Looking for great ideas that can be brought to market in order to meet a set of well-defined but previously unmet customer needs 16

2 Committing and investing in these ideas and maximizing payback on that investment 17

3 Figuring out how to manage risks and customer adoption and navigate through different strategic options along the way. 18

Today, many organizations are feeling inadequate. They desperately want to innovate, but they’re not sure where to start. 19

Here’s the good news—if your organization has survived this long you’ve probably innovated fairly recently and fairly successfully. 20

The real issue, then, is not whether you can innovate. Instead, it’s a question of where you are positioned on the innovation spectrum. 21

In other words, the fundamental question you should be asking yourself is not “how do we become serial innovators?”. It’s “how do we take our track record of innovation (however modest it might be) and really crank it up?” 22

Innovation is about discipline, but not of the six sigma or process-centric variety. It requires a different type of training and different kinds of tools. It requires a structured approach to experimentation. 23

quot;I have said for 20 years that our success is not an entitlement and now it's proving to be a reality. Let's be smarter about how we are spending our time, money and resources. Let's get back to the core. Push for innovation and do the things necessary to once again differentiate Starbucks from all others.quot; - Howard Schultz 24

Here’s some good news—the process of creating purposeful and profitable innovations is not as inherently unpredictable as you might think. 25

Four early signs of market vulnerability 26

1 You are the market leader Sometimes a cause for celebration is also a warning sign. Market leaders still need think and behave like challengers—even if they are dominant players in their categories. 27

2 You generate 80% of your revenue from your existing product offerings. Remember what they say about eggs and baskets. 28

3 The word “Google” does not show up in your strategic plan If you’re not moving ahead, you’re standing still. 29

4 The tenure of your average CMO is 12 months Scapegoats can distract you from the real issues . . like the fact that you need a scapegoat. 30

Watching for shifts Companies can only sustain strong growth via breakthrough innovations—changing the rules of the game. As a company grows larger, the question of where it should compete becomes critical. Here are two tell-tale signs that it’s time to shake things up: 32

Watching for shifts your customer value proposition is becoming less clear 33

Watching for shifts your organization is becoming less and less responsive to market shifts Whatever you do, don’t let yourself be caught off guard my major shifts that happen while you’re busy developing your three year strategic plan. 34

Four shift-spotting tips 35

Look anywhere but the leading incumbent Like a cruise ship in a storm, they’re probably too big to notice the waves- much less make them. 36

Look down and sideways — not up Watch for low-end players making upward moves. Or players from other industries making sideways advances (think Tower Records vs. Apple’s iTunes or Salesforce.com vs. Siebel System). 37

Watch out for start-up democratizers A new breed of innovator is throwing open the doors of the R&D echo chamber, inviting customer communities into the mix and democratizing the innovation process. 38

Don’t underestimate the power of socially-minded innovations More than non-profits in new clothes, this new breed of game-changer inspires strong loyalty in customers and employees alike. It’s all about the power of the double bottom line—with shareholders and society as a whole sharing the benefits. 39

Part 1 of 2. Idris Mootee www.mootee.typepad.com www.ideacouture.com 40 Copyright 2007 by Idris Mootee All rights reserved. Without limiting the right under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or any means, without the prior written permission of the author. This book is for limited circulation only and is not available for sale. A version of this book is available as special order for corporate training and executive education. To inquire about quantity order with your organization logo printed on the cover and limited customized content, please contact the author.

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CEO Innovation Playbook Public Short - Idris Mootee Part One

by Idris Mootee on Nov 04, 2007

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CEO Innovation Playbook Public Short - Idris Mootee Part One — Presentation Transcript