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Innovation Leaders 2008 Vienna

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Jan 2008 version of innovation leaders talk given in Vienna and based on www.innovationleaders.org analysis

Jan 2008 version of innovation leaders talk given in Vienna and based on www.innovationleaders.org analysis

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  • 1. 2007/8 Innovation Leaders: Identifying Future Growth Front End of Innovation - Vienna 30 January 2008 [email_address]
  • 2. Innovaro
  • 3. Europe’s leading innovation strategy and insight firm
    • Innovaro helps companies across the innovation spectrum, from building new
    • internal innovation capability to identifying multi $billion future opportunities
    • Experts in helping organisations to
      • Identify new growth opportunities,
      • Define and implement new innovation strategies,
      • Generate and deliver better ideas and
      • Renew their organisational capability
    • Work at the leading edge of innovation practice, identifying the
    • key issues and helping clients to successfully address them and create value
    Undertake the annual Innovation Leaders analysis independent of our consultancy work
  • 4. Innovation Leaders Analysis
  • 5. Each year we assess the performance of over major 1500 firms
    • Eight key areas are researched as input into the assessments:
    • Organisational culture and supporting structure
    • Strategic focus on innovation and its role in driving corporate growth
    • Number of major new product launches and relative success ratios
    • Growth in revenues, profits and market capitalisation
    • Average margin per product or customer
    • Investment in innovation-related activities such as R&D and marketing
    • Brand value and human capital growth
    • Peer review from within the sector
    Together this provides what we believe to be the most accurate assessment of current innovation impact
  • 6. Innovation Leaders’ shares have shown consistent growth …
    • Half the companies identified in January 2005 as Innovation Leaders subsequently
    • demonstrated an increase in share price of at least 50% over the following two years
    • The top five performers over 2005/7 all had growth in share prices of over 50%:
    • Apple - increase in share price of 163%
    • Google - increase in share price of 139%
    • Rolls-Royce - increase in share price of 89%
    • Toyota - increase in share price of 64%, and
    • Canon - increase in share price of 61%
    The Innovation Leaders stock portfolio has outperformed all major indexes for the past 7 years
  • 7. … and the past year this out-performance has continued
    • From 1 Jan 2007 to 1 Jan 2008, 2006/7 Innovation Leaders shares continued to rise:
    • Apple Up 135%
    • Nokia Up 91%
    • Google Up 52%
    • Adidas Up 36%
    • Reckitt Benckiser Up 25%
    • PepsiCo Up 23%
    • Microsoft Up 21%
    • Overall Portfolio Up 12%
  • 8. The 25 sectors we assess cover a wide range of businesses
    • Aerospace
    • Airlines
    • Automotive
    • Banking
    • Chemicals
    • Consumer Electronics
    • Consumer Goods
    • Energy
    • Fashion Retail
    • FMCG
    • Food and Drink
    • General Retail
    • Hotels and Leisure
    • Insurance
    • IT Hardware
    • IT Services
    • Logistics
    • Media and Entertainment
    • Medical Devices
    • Office Equipment
    • Pharmaceuticals
    • Software
    • Sports Goods
    • Telecom Equipment
    • Telecom Operators
  • 9. Across these sectors the 2007/8 innovation leaders are clear
  • 10. Most companies now aspire to innovate across the range
  • 11. Adidas scores on technology driven performance innovation
  • 12. Apple is #1 for many and is a good business model innovator
  • 13. BMW is having impact in the high end of the auto sector
  • 14. Nokia is innovating in all areas of the global market place
  • 15. Google is using a perpetual beta approach to enable to enter markets
    • Core money maker still Google Ads
    • All new offers based in and around Google Search
    • Search was a late entrant into a maturing market
    • Most new offers are launched to market as beta
    • User help configure to maximise impact
    • Many are disrupting existing markets
  • 16. H&M use internal process efficiency to deliver fast fashion
    • Eclipsed Gap, M&S and Zara
    • Fast fashion at the right price
    • Store managers are eyes and ears
    • Highly integrated product mix
    • Right product in every store
    • Sophisticated logistics operation
    • Underpinned by state of the art EPOS
  • 17. Infosys is making impact in process innovation in IT services
    • One of India’s largest /fast growth firms
    • Multiple outsourcing contracts
    • Now also at top end design for Airbus / GM
    • Ten years contracts with SLA in place
    • Requirement to innovate 3 years in
    • Have set up process innovation labs
  • 18. LEGO has re-invented the way it develops new products
    • LEGO Direct led switch to internet
    • Leading community development
    • www.LEGOfactory.com
    • Encourage user participation in design
    • MINDSTORMS User Panel a success
    • MINDSTORMS NXT – 100 developers
    • Leader in fan-base co-development
  • 19. Reckitt Benckiser are masters of fast incremental innovation
    • Consistent double digit growth
    • Strong individual innovation incentives
    • Innovation central to corporate culture
    • Customer insight drives everything
    • Category managers are king
    • Fast scale up and squeeze of costs
  • 20. Samsung made a major shift to innovate across the board
    • 1992: Change everything
    • Now leading consumer electronics brand
    • #1 or #2 in 20 market segments
    • Lead user of value innovation approach
    • Also provides ingredients for competitors
    • B&O, Sony, Nokia etc all use Samsung
  • 21. UPS are one of the leaders of the simplicity movement
    • Steady growth of UPS services
    • Company behind many firms logistics
    • Focus on process innovation
    • Success within 6 month: Fail before
    • Adopt the most appropriate solutions
    • Rapidly expanding portfolio of services
  • 22. Virgin Atlantic is pre-eminent at service + product innovation
  • 23. All of these innovative companies share some common traits
    • Strategic Focus – there is a strong strategic focus on the role of innovation within their markets and the contribution that innovation makes to the business.
    • Insight – they have an excellent understanding of the marketplace, customers and an ability to configure products and services around evident needs.
    • Collaboration – they clearly understand the core capabilities of themselves and their partners and work together to deliver innovative products and services.
    • Process – they have simple yet effective approaches to identifying, and then quickly launching, new products and services.
    • Organisation – roles, responsibilities and culture all support innovation while appropriate metrics are used to measure and reward successful innovation.
    These are not unique to these firms – but they are well integrated and leveraged to best effect
  • 24. In addition, we also see three additional core capabilities
    • Multiple Innovation Across product, service and business models
    • Open Open Innovation Beyond the usual suspects and ecosystems
    • Mapping Future Growth
  • 25. Product innovators are gaining major impact from services
  • 26. Service innovators are also active in product innovation
  • 27. Service innovators are also active in product innovation
  • 28. Service innovators are also active in product innovation
  • 29. While others are innovating around their business models
  • 30. Two Questions
  • 31. To become a leading innovator there are some key issues
    • Have you got the basics covered?
    • Clear strategic focus
    • Stimulating use of insights
    • Appropriate collaboration
    • Simple effective process
    • Organisational roles and ownership
    • How can you use multilayered innovation – products, services and business models?
  • 32. For more information
    • Websites:
    • www.innovaro.com
    • www.innovationleaders.org
    • www.technologyfutures.org
    • Insights:
    • [email_address]
    • [email_address]
    • Innovaro:
    • Amsterdam, Cambridge, London and Munich