Business Model Innovation | Lynch


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John Lynch of Four New Opportunities that require new
Business Models for the Life Science Industry
and Implications for Your Industry

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Business Model Innovation | Lynch

  1. 1. Business Model Innovation LabFour New Opportunities that require newBusiness Models for the Life Science Industryand Implications for Your Industry p. 1
  2. 2. The 4 Uncontrollable Drivers of Innovation Competition Customers/ Consumers Technology Regulation
  3. 3. Millipore History $Bn/yr 3
  4. 4. In Pursuit of Breakthrough Innovation Funding Breakthrough Envisioned FutureDiagnostic October Alignment Opportunities White Space October
  5. 5. The Case for Breakthrough Innovation  Executing on breakthrough innovation is critical to the long-term relevance of EMD Millipore to our customers. Breakthrough innovation will help drive profitable revenue growth above market rates, making us attractive as an employer and as an investment and more valuable for our customers  The initiative focused on breakthrough innovation only. Breakthrough Innovation generally involves new business model. (Continued focus on actions that sustain the business as well as incremental innovations remain very important.)  Company-wide alignment around the terminology of innovation is critical.
  6. 6. Innovation Sweet SpotCorporate Will Marketplace(Strategic Agenda) Opportunities (Emerging Trends & Unmet Needs) Strategic Competencies (Assets, Resources, Technologies) p. 7
  7. 7. This is even harder with a fuzzy, changingand disconnected system.
  8. 8. Finding Your New Growth Platforms in theSweet Spot Why What/Where Executive Leadership Deep Market Exploration How Competency Analysis
  9. 9. Millipore Future Pull Program Flow
  10. 10. Future Pull Together, we identified 7 Future View Scenarios that will change our world SR1: R&D spending is becoming a global investment regardless of the funding center and a negative balance of trade for the U.S.
  11. 11. So What?1. If this is our world in 3. And what are thethe future… opportunities for growth this indicates? Opportunity 1 Implications Envisioned Future for our Opportunity 2 business? Opportunity 3 PW Opportunity 4 IB 2. Then who must we Opportunity 5 G be to succeed? (Envisioned Future)
  12. 12. Finding Your New Growth Platforms in theSweet Spot Why What/Where Executive Leadership Deep Market Exploration How Competency Analysis
  13. 13. A Proven 5-Phased Innovation Process 1. Direction 5. 2. Implementation Discovery 4. 3. Incubation Invention
  14. 14. Kickoff & TrainingMarket exploration is adata intensive journey. Future Pull FileFacts™ & Mind Mining Expert Tease™ Focal Areas & 1. Project Plan Direction 40+ Lab Crawls 5. 2. Implementation Discovery Weekly War Room Nuggets TechMax™ 4. 3. Vetted Incubation Invention Business Plans Business Visions Nuggetizing™
  15. 15. …and you need a process for synthesizing to highlevel concepts. …AHA! Information Insights Nuggets “I Wish….” Testable Consumer Nuggets Wishes Concepts 16
  16. 16. Finding Your New Growth Platforms in theSweet Spot Why What/Where Executive Leadership Deep Market Exploration How Competency Analysis
  17. 17. Competencies Framework p. 18
  18. 18. With well defined and supported businessvisions, we begun the process of building something really new. Platform 1 Platform 2 Platform 3 Platform 4 Future New Technology 1 New Technology 2 New Competency 1 New Competency 3 New Competency Current Current Today Technologies Competencies 19
  19. 19. Breakthrough Innovation Requires New Skills… so what did we learn along the way? Innovation Thinking, Culture and Market Discovery and Business Leadership Invention1.  4 Drivers of Innovation 1.  War Room2.  Innovation Sweet Spot and Corporate 2.  War Games Will 3.  “Trend Scouting” / Lab Crawls/ Expertease/3.  Aligning the Organization Tech Max/ Future Foresight4.  9 Critical Success factors of Innovation 4.  Mind Mapping and Connection Making5.  “Designing” an Innovation Team 5.  Mind Mining for Insights6.  “Skate to the Puck” 6.  Info, Info, Info → INSIGHTS →NUGGETS7.  Open Minded Evaluation (OME) 7.  Competency mapping8.  “Championed Teamwork” 8.  Opportunity Space and Ownable9.  Dynamic Innovation Organization Whitespace10.  Communication, Communication, 9.  Business Model Invention, Concepts, Communication Visions and Mapping, Platforms 20 10.  External Sounding Boards
  20. 20. Take Aways  The importance of business model innovation even when business is good  Finding Your Innovation Sweet Spot