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My Aha Moment: Business Innovation Process


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My Aha Moment: Business Innovation Process

  1. 1. My <br /> Moment<br />Aha!<br />Purnima Trivedi<br />2nd August 2011<br />
  2. 2. Presentation Goal <br />To illustrate the innovation process through which Purnima Trivedi and her team developed an award winning business diversification model for an Aircraft Manufacturer’s MRO division. <br />MRO: Maintenance, Repair and Operating inventory<br />
  3. 3. Presentation Structure: 3 Ts …<br /><ul><li>Analytical
  4. 4. Creative</li></ul>Thinking<br /><ul><li>Multicultural
  5. 5. Diverse Professionals </li></ul>Team<br />Process Framework<br /><ul><li>Innovation Intent
  6. 6. Opportunity Insights
  7. 7. Fields of Play
  8. 8. Business Concepts
  9. 9. Business and Implementation Plan </li></ul>Tools <br />… team, tools, thinking <br />
  10. 10. Multicultural and Diverse Professionals <br />Team<br />Strategist & Architect <br />Investment Analyst<br />Mining Engineer <br />IT Project Manager <br />
  11. 11. The team was built …<br />Norming<br />Forming<br />(Brain)Storming<br />Performing <br />... with flexiblerules<br />
  12. 12. The team progressed rapidly… <br />Tools<br />… with versatile tools<br />
  13. 13. Right tools selected …<br />1. Innovation Intent<br />2. Opportunity Insights<br />3. Fields-of-Play<br />4. Business Concepts<br />5. Business Plan<br />PROCESS STEPS<br /><ul><li>Agreed on where and where not to innovate
  14. 14. Defined growth targets and strategic thrusts for breakthrough innovations
  15. 15. Understood the client’s investment profile
  16. 16. Determined the trends that may impact the business
  17. 17. Identified insights and ideas around the company’s existing function, competitors, partners and the future
  18. 18. Organized the thoughts in an opportunity map
  19. 19. Identified new ideas around Field of Play
  20. 20. Generated range of new business concepts
  21. 21. Selected the best concept to recommend
  22. 22. Conducted initial due diligence to validate the priority concept
  23. 23. Identified new areas for the company to play in
  24. 24. Prioritized one of these Fields-of-Play
  25. 25. Understood what conditions need to be tested first
  26. 26. Provided a visually stimulating summary for the selected business concept
  27. 27. Met the organization’s internal conditions for new business development</li></ul>ACTIVITIES<br />OUTPUTS<br />… five step process framework from IXL Center<br />
  28. 28. The team delivered the best solution… <br />Thinking<br />… in spite of limited resources <br />
  29. 29. Creative Thinking : a mini Aha moment <br />Visualization and understanding of scale and functionality<br />Match Found! <br /><ul><li>Aircraft MRO and wind turbine MRO use the same technology
  30. 30. Windmill fan-blade spans are often larger than airplane wing span</li></li></ul><li>Digging deeper for synergies … <br />Airplane MRO’s transferable capabilities<br />New required capabilities for Windmill MRO<br />Human<br />resources<br /><ul><li>Customer account service team (quotation, stock availability, inventory forecasting,)
  31. 31. Customer response center (urgent requests)
  32. 32. Highly skilled mobile repair team
  33. 33. Climb assist capability</li></ul>Technology<br />& <br />technical capabilities<br /><ul><li> Components repair and exchange
  34. 34. Composites know-how
  35. 35. Nacelle design
  36. 36. Turbine components & assembly
  37. 37. Metallic alloys know-how
  38. 38. Hydraulics know-how</li></ul>Systems<br />&<br />equipment<br /><ul><li>Parts Logistics (fast, reliable and cost-effective parts delivery worldwide)
  39. 39. Maintenance cost control implementation methods
  40. 40. Reliability data analysis
  41. 41. Offsite health monitoring
  42. 42. Electronic control systems
  43. 43. Power systems</li></ul>Facilities<br /><ul><li> Depots and distribution centers in Chicago, Frankfurt, Sydney, Beijing and Tokyo
  44. 44. Customer portal</li></ul>- Inventory centers in vicinity of major wind farm markets<br />… few new capabilities required to diversify into wind turbine MRO<br />
  45. 45. Analyzing industry opportunities and positioning … <br />Relationship among companies <br />Rotor blade manufacturers<br />(OEM)<br />Gearbox manufacturers<br />(OEM)<br />Component manufacturers<br />(OEM)<br />Wind turbine manufactures<br />(OEM)<br />Wind farm operators<br />Parts<br />Turbines<br />Integrated MRO providers<br />MRO services<br />Parts<br />MRO for wind turbine market<br /><ul><li> Market size of $7.45 billion in 2010
  46. 46. Annual growth (CAGR) of 18% for next decade
  47. 47. Most turbine manufactures provide MRO services during warranty period
  48. 48. 79% of wind turbines still under warranty in 2009</li></ul>… increasing demand for wind turbine MRO services<br />
  49. 49. Analyzing the industry further… <br />Wind farm owners and <br />operators<br />Assembly, installation and <br />MRO<br />Components supply<br />... highly segmented industry with low vertical integration <br />
  50. 50. A business idea ready… <br />… diversification into wind turbine MRO<br />
  51. 51. Yet the team was confused and in trouble …<br />… our business idea needed a business plan<br />
  52. 52. A solution was delivered …<br />… Purnima provided a business plan structure <br />
  53. 53. A winning formula … <br />Client<br />Our efforts<br />Proposed partners<br />Regional customer base<br />Brand recognition<br />Wind turbine MRO know-how<br />3 Ts<br />Composites<br />and mechanical know-how<br />Aerodynamics <br />R&D capabilities<br />Component suppliers & original equipment manufacturers <br />Global reach<br /> The real moment<br />Aha!<br />... for a complete business plan with<br /> implementation and contingency plans, ready for testing<br />
  54. 54. The Result… <br />Aha!<br /> Ranked #1 in international innovation competition. <br />Most importantly, a happy client.<br />