Corporate Innovation Workshop - IA-1

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© 2014 GC Venture Consulting. All rights reserved.
2-SESSION WORKSHOP FOR
EXECUTIVE MANAGEMENT

Workshop objective
Corporations can save considerable amounts by taking
advantage of innovations in the field of marketing.
Among such innovations are technologies and platforms
that:
 Enable them to reach customers more efficiently
 Better understand their needs and wants
 Engage them in a way that increases their loyalty
This workshop is primarily concentrated on this arena
and its objective is to increase your turnover, market
share and customer retention.

BEFORE WE BEGIN
Together, we will identify the challenges ...
... and work together to overcome them.

TOPIC 1: IDEOLOGICAL
Is innovation an
integral part of
your business
strategy or does it
orbit around it?
TIME: 00:00 – 00:45
Corporate
Strategy
Innovation

Innovation in relation to Corporate Strategy
Innovation is essential for continued corporate growth, yet
successful growth reduces the ability of corporations to innovate.
Corporate
Strategy
Incubators,
Accelerators
&
Labs
Events,
Conferences
&
Competitions
Innovative
Positions
&
Divisions
Investments
&
Aqcuisitions
Innovative activities orbit the
company strategy but are not
part of it.
Corporate
Strategy
Incubators,
Accelerators
&
Labs
Events,
Conferences
&
Competitions
Innovative
Positions
&
Divisions
Investments
&
Aqcuisitions
Disconnected Integrated
Innovative activities are
an inseparable part of the
company strategy.

TOPIC 2: METHODOLOGICAL
What factors
slow or prevent
innovation
investments
within your
organization?
TIME: 00:45 – 01:30
Innovation
Disconnect
Fear
Change
Capacity

Factors that limit innovative investment
Innovative
element
Strategy
Risk
Structure
Accountability
Change
Overload
Tack of a central, cohesive strategy that includes innovation as a
core element. This type of strategy is based solely on established
methods and leaves no room for innovation despite the fact that
innovation could render the strategy more effective.
A restrictive risk perception leads
corporations to evaluate the risks of
adopting an innovative element
while the risk of not doing so
remains unaddressed.
Cumbersome decision-making
layers often prevent timely adoption.
Innovation managers are seldom
authorized to make investment
decisions as they are not the end-
users. They therefore have to
present to others within the
corporation and reaching a decision
may take 1 – 2 years!
Being accountable for an investment decision plays a
key role in preventing innovation. The manager that
never makes a decision to invest in innovation assumes
less personal risk than the one that does. This practice,
however, exposes the company to greater risk as it
becomes less competitive.
The corporate structure may appear to support innovation
while it is actually inefficient and counterproductive. R&D
departments are often put in charge of innovation but
cannot assess an innovative element that falls outside the
scope of the company’s main line of business since that is
what R&D departments are usually built around.
Changes within the corporation
can lead to relapse. An innovator
that has been in talks with a key
individual within an organization may
suddenly find that he or she has
been replaced. This often sends
negotiations back to square one with
serious loss of time and may result
in lost competitive advantages.
Information overload can overwhelm anyone. Knowing
what innovative elements are available and how to
combine them most effectively is a full-time occupation
that managers do not have time for. As long as
innovation remains outside the corporate strategy, this
problem will persist.

TOPIC 3: STRUCTURAL
Is your innovation
budget truly
structured toward
innovation?
TIME: 01:30 – 02:15
Sam
Determines
request validity
Ben
Needs approval
from Kim
Kim
Needs approval
from Mary
Mary
Needs approval
from Betty
Betty
Needs approval
from Sam
Sam
Authorizes the
investment
Betty
Relays decision
to Mary
Mary
Relays decision
to Kim
Kim
Relays decision
to Ben
Ben
Has moved on
May 2014
Opportunity
identified
August 2015
Opportunity
lost

Inverting the budget authorization process
Innovation/R&D
Budget
Finance
Purchasing
Comptroller
Budget
Payroll
Operations
Production
Safety
Environmental
Quality
Marketing
Research
Promotion
Distribution
Selling
IT
Security
Network
Data
Support
Innovation/R&D
Budget
Finance
Purchasing
Comptroller
Budget
Payroll
Operations
Production
Safety
Environmental
Quality
Marketing
Research
Promotion
Distribution
Selling
IT
Security
Network
Data
Support
Top down Bottom up
R
E
Q
U
E
S
T
D
E
C
I
S
I
O
N
D
E
C
I
S
I
O
N
C
O
N
F
I
R
M
A
T
I
O
N
A reconfiguration of R&D/Innovative budgets enables autonomous
decision-making at multiple levels within corporate divisions.

TIME TO RECHARGE & PROCESS
When we take our minds off things ...
... we see them more clearly.
TIME: 02:15 – 02:45

SECTION 4: PRACTICAL
These are the
challenges; now let’s
deal with them
systematically
TIME: 02:45 – 03:30

END OF WORKSHOP IA-1 SESSION 1
In case questions arise regarding the approach we
decided on or you need additional support before
we reunite during the second part of this workshop:
Snorri H. Gudmundsson, MBA
Marketing Management
Tel: (+354) 693 2061
Email: shg@gcventureconsulting.com

Corporate Innovation Workshop - IA-1

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