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Best Practices for an Effective Innovation Process
The document outlines best practices for fostering an effective innovation process, emphasizing the importance of sustained innovation and the need for dedicated resources. It highlights the challenges companies face, such as disengaged employees and the lack of transformational growth ideas, and suggests that organizations with structured innovation programs achieve greater growth. Key takeaways include viewing innovation as a continual process, utilizing the entire ecosystem for idea generation, and managing innovation portfolios separately from operational ones.
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Best Practices for an Effective Innovation Process
- 1. Best Practices foran Effective Innovation Process From Ideas Through Execution November 13, 2013
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- 3. Problems and Opportunities 3 TOPBUSINESS ISSUES Grow Revenue Innovate for Competitive Differentiation Reduce Costs through efficiencies 86% of organizations are dealing with disengaged or detached employees - 2012 MIT Sloan/Deloitte Study 75% Of executives are concerned with not having transformational growth ideas - Corporate Executive Board - Silk Road 3x Companies with innovation programs grow 3 times faster than their peers over 5 years - Bain, 2013
- 4. Best Practices ForAn Effective Innovation Process Chip Gliedman, Vice President/Principal Analyst November 2013
- 5. November 2012 “AssessYour Innovation Capability Maturity” Sustained innovation bridges the gap between ongoing and disruptive change Products/Services Processes/Operations Markets/Business Models Organization/Governance Ongoing improvement • Standardized • Low risk • Incremental • Operational or mandatory Radical Innovation • Game-changing • Non-standard • High risk • Unanticipated • Strategic • Large scale
- 6. November 2012 “AssessYour Innovation Capability Maturity” Sustained innovation bridges the gap between ongoing and disruptive change Products/Services Processes/Operations Markets/Business Models Organization/Governance Sustained Innovation • Supported by management • Ongoing – not episodic • Distinct governance and funding • Different success (and failure) metrics
- 7. November 2012 “AssessYour Innovation Capability Maturity” Innovation requires we accept a level of risk atypical to most IT metrics and goals Source: Fuel Business Growth Via The BT Innovation Portfolio © 2013 Forrester Research, Inc. Reproduction Prohibited 7
- 8. February 2013 “CIOsAre Not Ready To Support Business Innovation” Only Half Of Firms Demonstrate Vision With Dedicated Innovation Groups
- 9. February 2013 “CIOsAre Not Ready To Support Business Innovation” Money And Culture Hold Back Innovation Efforts
- 10. February 2013 “CIOsAre Not Ready To Support Business Innovation” Sustained innovation requires maturity across all of the innovation capabilities Source: CIOs Are Not Ready To Support Business Innovation © 2013 Forrester Research, Inc. Reproduction Prohibited 10
- 11. DPR Construction usesSpigitEngage to collaborate and idea-share company-wide. One implemented idea has saved superintendents, who walk 10 minutes each way from the jobsite to the trailer, an average of eight hours per week using the field kiosk; this is an incredible 20 percent increase in efficiency.
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- 13. November 2012 “AssessYour Innovation Capability Maturity” The Forrester Innovation Maturity Assessment © 2012, Forrester Research, Inc. Reproduction Prohibited
- 14. November 2012 “AssessYour Innovation Capability Maturity” The Forrester Innovation Maturity Assessment (Cont.) © 2012, Forrester Research, Inc. Reproduction Prohibited
- 15. August 2012 “SustainedInnovation Propels The Business Engine” Complex ecosystem fuels innovation August 2012 “Fuel Business Growth Via The BT Innovation Portfolio”
- 16. August 2012 “FuelBusiness Growth Via The BT Innovation Portfolio” The Three Horizons Model Ensures A Flow Of Innovations Into The Future © 2013 Forrester Research, Inc. Reproduction Prohibited 16
- 17. August 2013 “EnsureThat Your Innovation Management Tool Is Not Just Another Empty Suggestion Box” Proper Planning And Implementation Ensure Value From Innovation Tools © 2013 Forrester Research, Inc. Reproduction Prohibited 17
- 18. Key takeaways tomake your innovation process sustainable: › Don’t think of it as an technology innovation portfolio, it’s a set of innovations that can drive business value – business innovation › While you can concentrate efforts periodically, your innovation process needs to be defined and in operation constantly › Dedicate resources towards the program – it’s much more difficult if people have to multitask between operational and innovative › Exploit your entire ecosystem to gather ideas, vet them, prototype and test them, and commercialize them › Manage the innovation portfolio separate from the operational portfolio: • Governance • Funding • KPIs • Communications © 2013 Forrester Research, Inc. Reproduction Prohibited 18
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- 22. Cisco chose theSpigitEngage platform as the backbone to it’s BIG Awards, designed to find start-up and SME talent in the UK.
- 24. Global Footprint, EnterpriseScale 370 Employees Headquarters: San Francisco Global Offices: Pleasanton, Germany, UK, France, Australia, Japan Global Datacenters: USA, EMEA, APAC Growing Customer Base: 4 Million Users 3000 of the World’s leading Brands “Social business solutions should provide the ability to capture insight, intelligently filter information and deliver it into action in the business. The merger of Mindjet and Spigit brings together the core elements that drive business value from social solutions; process, structure, business context and relevance.” Driving Repeatable Business Innovation - Vanessa Thompson, Research Manager, Enterprise Social Networks and Collaborative Technologies Confidential
- 25. Vision to ActionLifecycle™ • Generate New Ideas • With Brainstorming, Crowdsourcing and Game Mechanics • Select Opportunities • With Big Data Analytics, Automated Idea Graduation and Advanced Voting • Commit to Action • With Visual Project Planning and Content Sharing • Manage to Completion • With Task Management and Project Tracking
- 26. Product Portfolio Spigit Engage • • • • • ProjectDirector Crowdsourceand generate ideas Solve business challenges Automated Idea Graduation • Workflow engine Analytics and Reporting • • • Shared Virtual whiteboards MindManager • • Visual framework Social task mgmt. • Project and Business Planning tools Visual mind maps to help capture, organize and plan Numerical values and formulas Project-centric file management Partner Integrations • Leverage your IT infrastructure: SSO, LDAP/AD, SharePoint • Leverage your existing crowds: Jive, Yammer, SharePoint Leverage your social networks: LinkedIn, Twitter, Facebook • • • • • • Leverage your existing work: Box, Google Drive, Dropbox, Microsoft SkyDrive
- 27. Thank You Resources: • Buyer’sGuide to Enterprise Innovation Platforms: http://www.spigit.com/media-center/white-papers/ • Vision to Action Lifecycle whitepaper: http://www.mindjet.com/spigit/vision-to-action/ • Product Information: http://www.mindjet.com/spigitengage/ • More Information: adr@spigit.com @milindpansare @mindjet @spigit
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