Leadership for profitable innovations


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This presentation was given at the Innovation Summit in Chicago during October of 2011. The summit was held on the campass of Illinois Institute of Technology.

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Leadership for profitable innovations

  1. 1. Leadership for Profitable Innovation Kathie Topel Managing Partner/Author IMPACTinsightsRenaissance EXECUTIVE FORUMS www.impactinsights.com The Next Level is Closer Than You Think
  2. 2. DefinitionSomething new or differentintroducedNOT Invention
  3. 3. Hype Cycle of Emerging Technologies, 2010 Leadership ImpactSource : Gartner (2010)
  5. 5. Innovate …..ME??? 5
  6. 6. Innovation Fear• I’m not creative enough to innovate• I’m not qualified to innovate• My idea might be rejected• I don’t know how to invent anything• Where do I get ideas• What if I can’t think of something new• Will I have to implement my idea• Is this part of my performance review 6
  7. 7. Innovation PressureFrustration Disengagement Forced Ideas Push Back 7
  8. 8. Key To Innovation Success COLLABORATION
  9. 9. Culture ForInnovation Success
  10. 10. Maximize Innovation ImpactStep 1 – Definition / Guidelines
  11. 11. I M P A C T“Set the guardrails for the future. Identify objectives for the innovation process to Maximize Impact.”
  12. 12. Innovation Quadrants NEW/NEW X NEXT X New Offering RevolutionaryRisk, Value, Differentiation Evolutionizer Q3 Synthesizer Q4 Existing Offering X NEW NEW/NEW Q1 Evolutionizer Q2 Existing Users New Users Trust Trust not Established
  13. 13. Maximize Innovation Impact Step 2 - Process
  14. 14. Innovation Process Management Capture Formulate Evaluate Pilot Select Deliver Innovation Facilitator Collaborate for Refine Details Form a POC Finalize Strategic Evaluate Develop Sales Ideas Get Peers team. Company for Success of Pilot Incentive Plan Brainstorm involved Develop POC Delivery Present Impact Develop Document Idea Determine Analyze POC for Preliminary Intro to and Value to Marketing Plan Champion impact and value sales Exec Team Finalize Delivery Review with Pilot Formal Recruit Executive Team Develop Delivery Announcement Client Support Model 16
  15. 15. Maximize Innovation ImpactStep 3 – Culture of Collaboration
  16. 16. Collaboration Methods
  17. 17. Collaboration Idea sharing groups. Community of Practice Teams of Technicians Brainstorm sessions Special Interest Groups within Professional Organizations Following Industry Blogs Reviewing case studies Applying past knowledge to current technology Focusing in on a particular area (Example : Mobile) Customers
  18. 18.  Organize a group EXAMPLE Identify a meeting location that is open and promotes thought generation Identify the client or market (Target) Innovation Identify the customer profile now and future for For (Target) Identify industry needs of the (Target) that need Impact to be met Session Identify the competition of the (Target) market Identify the technology that we can bring to the (Target) market EXAMPLE : Cloud, Mobile High Power Brainstorming – Saving all ideas Mind Mapping Collaboration to assemble ideas into categories Formulate possible solutions – Talk Value Enter Idea for Consideration
  19. 19. Culture ForInnovation Success
  20. 20. 1.Everyone understands Mission, Vision, Brands and Business Value2.Understand Risk is acceptable3.Determine Type of Innovation4.Determine Definition of Innovation5.Process to Capture and Act on Ideas6.Creative Thinking7.Sustainable Innovation
  21. 21. THANK YOU!!Questions:Kathie.Topel@impactinsights.comJoin our LinkedIn Group:http://tinyurl.com/spr-leadership