Innovation Processes And Tools

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    Innovation Processes And Tools - Presentation Transcript

    1. Processes and Tools For Innovation Jeffrey Phillips VP Marketing OVO
    2. Agenda
      • Review the current state of innovation
      • Examine innovation types
      • Review methodologies, processes and software that support or enable innovation
      • Discuss priorities when starting an innovation initiative
    3. Innovation Today
      • In a recent BCG survey of CEOs:
        • over 70% named innovation as a top priority
        • Most identified innovation as the best chance for organic growth
        • Yet less than 30% felt their firm had the right processes and tools in place for successful innovation
    4. Innovation “Types”
    5. “ Types” of Innovation From: Doblin Group http://www.doblin.com/IdeasIndexFlashFS.htm Type Definition Example Business Model How you make money Dell Networks and alliances How you work with other companies Sara Lee outsources manufacturing Enabling Processes How you support the company’s core processes Starbucks Core Processes How you create and add value to your offerings Wal-Mart Product Performance How you design your offerings VW Beetle Product System How you link your products to create a system Microsoft Office
    6. More “Types” Type Definition Example Service How you provide value to customers beyond product Singapore Airlines Channel How you get your offerings to market Martha Stewart Brand How you communicate your offerings Absolut Customer Experience How your customers feel about the company Harley Davidson
    7. Technology New Near to Existing New Business Model Near to Existing Incremental Breakthrough Breakthrough Game Changer Types of Innovation
    8. Open vs Closed Innovation
      • Encouraging customers, partners and vendors to submit ideas
      • P&G’s stated goal: 50% of its new products based on ideas from partners and customers
      Open Innovation by Henry Chesbrough
    9. Innovation Life Cycle
    10. Innovation Lifecycle
      • “ Life cycle” – From American Heritage dictionary The course of developmental changes through which an organism passes from its inception to its mature state
      • Innovation lifecycle – from idea to new product or service
      • Look at three lifecycle concepts
        • Idea to Cash from BCG
        • Customer Driven Innovation
        • Concept to Cash from OVO
    11. Innovation to Cash
      • Boston Consulting Group introduced the “Innovation to Cash” lifecycle
      From: Making Innovation Pay from Boston Consulting Group
    12. “ Customer Driven” Innovation
      • Research the strategy canvas for your industry;
      • Determine what each segment values and what their unmet needs are;
      • Compare the strategy canvasses to the needs of each segment;
      • Find the gaps;
      • Determine how you can effectively, competently and profitably fill them; and
      • Experiment, test and then roll out the qualifying innovation opportunities.
      Suggested by Dave Pollard – blogs.salon.com
    13. Strategy Map Strategy Map based on work from Blue Ocean Strategy
    14. Strategy Map These factors are “overmet” These factors are “undermet” or not met.
    15. Concept to Cash
      • Developed by OVO to define the Innovation Lifecycle:
        • Generate ideas
        • Capture ideas
        • Evaluate ideas
        • Develop as new products
        • Launch into the market
        • Capture metrics/statistics
        • Feedback
    16. Methodologies
    17. Defined Methodologies
      • Methodology A body of practices, procedures, and rules used by those who work in a discipline
      • Most innovation methodologies are the outgrowth of new product development concepts
      • Little work has been done for service innovation – see Peer Insight for the best work in service innovation
    18. Innovation methodologies
      • PACE – an early product development methodology
      • Stage-Gate ® – a published process/methodology that provides more rigor and discipline to product innovation
    19. Stage-Gate methodology From: www.stage-gate.com
    20. Software
    21. Evolution over time
      • The initial database for ideas was a suggestion box
      • Over time ideas have been captured in Excel, Access, and other desktop and enterprise applications
    22. Challenge
      • Too many idea databases across the organization
      • No visibility into innovation
      • Little chance for collaboration internally or externally
      • Point tools don’t support an innovation process
    23. Innovation Lifecycle Generate Capture Evaluate Develop Launch Generating Ideas Capturing Ideas Idea Evaluation Framework Product Launch New Product Development What actions take place across the innovation process, and what data is necessary to capture at each stage of the process?
    24. Lifecycle with data needs Generate Capture Evaluate Develop Launch Brainstorm Tools Mind Maps Suggestion Box Idea Database Idea Evaluation Framework Rapid Prototyping IP Protection Product Launch New Product Development Trend Scanning IP Search Rewards / Incentives Measurements / Metrics Bugs Me List Voting / Polls / Survey Retention / Archiving Roadmapping
    25. Software to support phases
      • Ideation/Brainstorming
        • Brainstorming software helps distributed teams generate and rank ideas
      • Products
        • MindMaps (personal brainstorming)
        • OVO Spark
      Generating
    26. Software to support phases
      • Idea Capture/Management
        • Software which registers ideas and provides collaborative tools to manage and evaluate ideas
      • Products
        • Bright Ideas (hosted only)
        • Imaginatik
        • Sopheon
        • OVO Incubator (hosted or licensed)
      Capture/Evaluate
    27. Software to support phases
      • Product Lifecycle Management (PLM)
        • Software to manage the design, development and iterations of a product
      • Products
        • Dassault
        • PTC
        • Agile
        • UGS
      New Product Development
    28. Software to support phases
      • Roadmapping
        • Software to define the “roadmap” or next versions of a product portfolio over time
      • Products
        • Alignent
      Launch/Management
    29. Lifecycle with data needs Generate Capture Evaluate Develop Launch Brainstorm Tools Mind Maps Suggestion Box Idea Database Idea Evaluation Framework Rapid Prototyping IP Protection Product Launch New Product Development Trend Scanning IP Search Rewards / Incentives Measurements / Metrics Bugs Me List Voting / Polls / Survey Retention / Archiving Roadmapping
    30. Setting your Priorities
      • Define the “kinds” of innovation your team wants
      • Establish “who” will be involved
      • Define your innovation methodology or process
      • Document your process and data requirements
      • Evaluate software
    31. Recap
      • From a process and tools standpoint, innovation is a new field and the requirements are still being defined
      • There are some standard methodologies, processes and tools, and more every day
      • As with any other important business process, define the processes, methodologies and tools necessary for success for your initiative
    32. Q&A and Contact
      • Contact us for further discussions or if your team needs help evaluating processes or tools for innovation
      • www.ovoinnovation.com
      • 919-848-8675
      • [email_address]

    + Jeffrey PhillipsJeffrey Phillips, 2 years ago

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