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Evangelizing and Leading the Strategic Role of Marketing in Innovation by Stephen Liguori
The document discusses the strategic role of marketing in driving innovation at GE, emphasizing a shift from invention to market-oriented solutions, and highlighting the importance of collaboration and open innovation. It presents insights into how GE leverages technology, research, and data analytics to enhance efficiency across various industries, while also addressing the concept of balancing core business and innovative pursuits. The text advocates for understanding organizational strengths and applying a structured approach to innovation to achieve significant value.
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Evangelizing and Leading the Strategic Role of Marketing in Innovation by Stephen Liguori
- 1. The Strategic Roleof Marketing in Innovation Charlotte BMA March 19, 2014 Steve Liguori Exec. Director Global Innovation
- 2. From Hot Dogsto Big Iron to Innovation! Corporate Brands Product Brands Business “Not as Usual” Examples
- 3. Powering, Building, Moving,Curing GE Energy $40B GE Capital $45B Home & Business $6B Solutions Healthcare $20B Aviation $20B Transportation $5B Energy Management Oil & Gas Power & Water $150+B Revenue, $13B earnings 300,000 employees in 150 countries Only current DJIA company in original index
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- 5. The most advanced technologyon earth: global R&D + 45,000 technologists expanding what’s possible
- 6. “I find outwhat the world needs, then I proceed to invent it.” – Thomas Edison GE Innovation
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- 8. technology-led innovation market-led innovation What is innovationat GE? GE Innovation
- 9. 9 GE/General Mills The natureof innovation is changing From Invention To Solutions & Innovation Over the last 10 years, 2% of innovation types have produced > 90% of value
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- 12. 12 GE/General Mills EXITMETRICS EXITMETRICS GE Simplification–”cultural imperative of this generation” Optimize and manage the business ACTIVATE CROSS THE CHASM SCALE THE BUSINESS RUN THE BUSINESS OPTIMIZE THE BUSINESS 1 2 3 4 5 EXITMETRICS Innovate new products and business models INCUBATE GET TO MARKET INNOVATION WORKS EXITMETRICS TENX • Fewer, bigger bets
- 13. 13 GE/General Mills Fast Works:the startup approach
- 14. GE & theIndustrial Internet Capturing a leadership position for the “Other 50%” of GDP! Run my machine better Run my fleet better Run my industry better
- 15. 15 Power of 1% -Can you talk “Outcomes” in your space? AVIATION POWER RAIL HEALTHCARE OIL & GAS 1% fuel savings 1% fuel savings 1% productivity improvement 1% productivity improvement 1% reduction in Cap X $30B $66B $27B $63B $90B 15 YEAR SAVINGS
- 16. 16 Leading the IndustrailInternet! GE PROPRIETARY & CONFIDENTIAL Brilliant Machines1 Advanced Analytics 2 People at Work3
- 17. 17 GE/General Mills Opening up& collaborating
- 18. 3 Months $40,000 697 Newproduct designs $10MM Fuel savings potential 40 Data sets 3,045 Algorithms 164 Countries 0 Aviation experience $26MM Fuel & cost savings potential 134 New Product Designs 139 Countries 4 Quests 5,757 Solutions 55 FTE Equivalent 2013 Quests Open Innovation drives value
- 19. Cooking Up a Business LocalMotors Made the World’s 1st Open-Source Car. It’s Now Bringing Co- creation to GE The co-creative process is all about building connected machines. That’s where the big change happens. What disruptions are YOU leading ?
- 22. 22 GE Title orjob number 3/21/2014 1. Know Who You Are Strengths ?
- 23. 2. Know WhereYou Are Find the balance. “Culture eats strategy for lunch” Internal Environment External Focus
- 24. 3. The 70-20-10Rule “In addition to appointing an Innovation Officer at Google, employees are now asked to divide their time in 3 parts: 70% core business, 20% pursuits related to the core, and 10% far out ideas.” 70% Core 20% Core-related innovation 10% Far out ideas Best Practice:
- 25. On my wall… What’son yours ??