Grow & Prosper: Are Your Innovation Practices Inhibiting Success?


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"Grow & Prosper" was presented as part of innoCos Europe (June 4-5, 2013) in Nice, France by Jim Conroy, Vice President EMEA, Sopheon. Jim is Vice President EMEA for Sopheon, the international provider of software, expertise, and best practices for Enterprise Innovation Performance. Jim is a seasoned senior executive with over 20 years’ experience helping large enterprises significantly improve their innovation, product development and supply chain performance.

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  • We have seen many customers investing untold fortunes in strategies and technologies, but we have also seen them not reaching their growth and revenue goals because their underlying practices and processes are actually undermining their success. Over the years our customers have learned from us, but we have also learned from them. We have identified four key business decisions relating to the innovation lifecycle, and a number of practices which we believe can support the decision-making around these.
  • These key decisions can be broken down into more detailed questions about how to tackle the specific industry challenges.Innovation planning – read questionsIdea/concept development – read questionsProcess management – read questionsPortfolio optimization – read questionsI’d like to highlight one use case, around transforming the front end.
  • As I mentioned before, we have come up with a series of 8 leading practices which have proven successful in achieving measurable improvements in innovation performance:Maintaining “enough” ideas as well as “good enough” ideas at the front end for a high-value development funnelAccelerating time-to-market and meeting targeted product launch goalsAdapting portfolios quickly to respond to changing trends and consumer needsImproving new product investment decision-making to focus resources on the highest value brand innovations and to contain riskOur goal in being here over the next two days is to share these with you. Stop by our table in the refreshments area to request a poster, which summarizes these practices, or feel free to chat to my colleague Jeff Gomes or myself during the breaks about some of your particular innovation challenges. Thank you ladies and gentleman for your attention.
  • Thank you ladies and gentleman for your attention. Are there any questions?
  • Grow & Prosper: Are Your Innovation Practices Inhibiting Success?

    1. 1. Grow & Prosper:Are Your Innovation PracticesInhibiting Success?Jim ConroyVice President EMEA
    2. 2. Key Decisions through theInnovation Lifecycle“How do weoptimize ourportfolio forachieving ourperformancegoals?”“Should this newidea/conceptbecome adevelopmentinitiative/project?”“Which strategies(segments, brand,product lines,platforms) shouldwe prioritize toachieve ourobjectives?”“Should thisinitiative/projectget funds/resourcesto move to the nextstage?”
    3. 3. Meet Industry Challenges withInnovation Practices“How do we reduce risk of prestigebrands in a difficult economy?”How do we structure ourportfolio to deal withseasonal fluctuations?“How do I meet consumer demandfor sustainable and naturalingredients?”“How do we fuel a constant stream ofgood ideas?”“How can innovation drive newcategories & brands”“How do we plan strategically whenconsumer needs are constantly changing?”“How do we plan to meet our near &long-term growth objectives?”“How can we effectively plan toconsider changing regulations?”“How can we shorten developmenttimes to be first to market?”“How do we build regulations & consumertesting into the NPD process?”“How can we collaborate effectively acrossglobal & cross-functional teams?“Can we execute efficiently to meetbuyer deadlines & reduce chaos?”
    4. 4. Transforming the Front End of Innovation…$20B+ Personal Care Company•Halfway to doubling number of $1B+brands•Increased value of innovation portfolio by75% within 3 years•Insight into the innovation lifecycle•Able to compare in-market results againstresearch projections•Analytics into successes & failuresResults“Accolade Idea Lab works very,very well. You have real time inputfrom more people engagedaround the globe where timedifferences make it really hard tobrainstorm, and it saves a lot oftime and travel money as you usethe tool for this purpose.”Director of Global Innovation•Not enough ideas to fuel growthobjectives•No systematic approach to developing thefront end•Lack of consumer and customer insights•No ability to analyze in-market successesChallenges
    5. 5. The Key is Applying Best Practices in...Enterprise Innovation PerformanceCorporateStrategic PlansPDM SCM MRP CRM ERPEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsCorporateStrategic PlansInnovativeProducts &InitiativesSustainable,ProfitableRevenueGrowthEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsSuccess Rate = ~50-55%Value = +75%-100%~75-85%Time to Market = -15-30%Execution ActivitiesR&D Supply Chain Production Sales/Mktg FinancePDM SCM MRP CRM ERPEnterpriseInnovationPerformanceCorporateStrategic Plans
    6. 6. Request a PosterA handysummary ofthe 8 leadingpractices
    7. 7. Any Questions?Jim ConroyVP EMEAjim.conroy@sopheon.comJeff GomesBusiness Development