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Shannon Riley - News UK


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Shannon Riley - News UK

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Shannon Riley - News UK

  1. 1. 2nd February 2016 INNOVATION HAS BECOME CONFORMITY IN DISGUISE Shannon Riley DIRECTOR, COMMERCIAL STRATEGY & OPERATIONS, NEWS UK Maria found what might be a good image for this slide
  2. 2. 21 slides. 2 points Tread carefully between gaining knowledge and succumbing to the latest trend bandwagon My views are simply yet one more reference point
  3. 3. My lens... ‘‘So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving’ Michael Porter San Francisco CALIFORNIA Zurich SWITZERLAND Berkeley CALIFORNIA London U.K. New York NEW YORK Berkeley CALIFORNIA London U.K. Audit Audit and M&A Advisory M&A Advisory, Innovation and proposition development, Management consulting MBA Media Strategy MBA Corporate Strategy Corporate Development Strategy & Operations 2003 2017
  4. 4. How can we achieve originality when our approach to innovation has become so mainstream?
  5. 5. With recent events (Brexit, Trump, Russia, Economy) how has the way you think about strategy, use data or think about the future changed most?
  6. 6. DATA, DATA, DATA Executives love talking about it because it makes them sound relevant Business professionals love manipulating it to validate a decision Consultants love talking about it so they can sell haphazard ‘data strategy and / or solutions’
  7. 7. To those strategists who bemoan the idiot management team that could not implement their perfect strategy, beautifully presented in a 200 slide deck based on robust analysis conducted by expensive analysts in a dark room, I hope you are paying attention. Data is not the all powerful tool we once thought Decisions are rarely made based solely on data, no matter how ‘unique’ the patented framework or algorithm you ran it through. Firstly, humans are emotional beings, yes, even us rational strategy professionals, and secondly, data is never perfect or complete.
  8. 8. Why did people vote for Brexit or Trump?
  9. 9. Did the polling statisticians predict either event?
  10. 10. TRUMP 15% CLINTON 85% vs
  11. 11. Financial Times, FT Poll of Polls, June 23, 2015
  12. 12. So, if it wasn’t more data, information, facts and figures that drove people to make the most significant decision yet this decade, why do we think it will work for our customers and colleagues?
  13. 13. Data is important. But so are emotion, creativity and those fluffy soft things.
  14. 14. Data in itself holds no worth or influence
  15. 15. Outside looking in But this is more than realising data is not the all powerful tool I once thought it was Move Fast Data, Data, Data INSIGHTINNOVATION PLATFORMS Google’s 80/20 rule – from about 15 years ago… ‘Tour of Silicon Valley’ Digital First Mobile First
  16. 16. I care about my consumers, which is why I am spending loads of VC money on my massive house and to fund my lifestyle – says the founder before he folds up shop ** Over-generalisation to make a point - this is the minority but the point to make, is that it has become a growing minority Outside looking in And what about those seen as THE innovators Some of the world’s sharpest minds are here, but few of them seem capable of connecting the beggar with a tattered cardboard sign to their own $4k/month studio apartment, or the software they developed to eliminate low-skilled clerical work – Danny Forston, The Times I am saving the world Wear whatever you want so long as it is jeans and a hoodie
  17. 17. INNOVATE Make changes in something established, especially by introducing new methods, ideas or products CONFORM ‘Comply with rules, standards or laws’ (of a person) behave according to socially acceptable conventions or standards Be similar in form or type; agree
  18. 18. Conformists Innovators InnovatorsConformists
  19. 19. Successful innovators go against the direction of travel as the rest of the population.. “… good enough for our transatlantic friends … but unworthy of the attention of practical or scientific men.” -- British Parliamentary Committee, referring to Edison’s light bulb, 1878. “While theoretically and technically television may be feasible,commercially and financially it is an impossibility, ….”-- Lee DeForest, American radio pioneer and inventor of the vacuum tube, 1926.
  20. 20. 21 slides. 2 points Tread carefully between gaining knowledge and succumbing to the latest trend bandwagon My views are simply yet one more reference point
  21. 21. Conformists Innovators InnovatorsConformists THANK YOU