To ensure long-term competitiveness, companies need to develop the ability to explore, plan, and develop new business fields. A suitable approach faces multiple challenges because it needs to (1) integrate multiple perspectives, (2) ensure a high level of participation of the major stakeholders and decision-makers, (3) function despite a high level of uncertainty, and (4) take into account interdependencies between the influencing factors. In this paper, we present an integrated approach that combines multiple strategic-foresight methods in a synergetic way. It was applied in an inter-organizational business field exploration project in the telecommunications industry.
R&D Research & Development Strategy & ManagementChief Innovation
Am one of the few people I know who has an R&D Strategy background, but you almost never can sell projects in that area unless you have a domain PhD. Most of this is from 3rd Generation R&D, written by former colleagues from Arthur D. Little, Phil Roussel, Tammy Erickson and Kamal Saad. Phil is no longer with us, great guy and good friend (always tell people, I taught him how to use a fax machine, 'Jay, how do I work this thing.' - 'Phil, put the page in there, and push that big green button.' - 'Oh, that was easy.' Safe to say, 23 years later I still have never written a cool book, but did know something he did not! This had 3 slides at the end of it that I cannot remember where they came from, think in the book but not in order.
R&D Research & Development Strategy & ManagementChief Innovation
Am one of the few people I know who has an R&D Strategy background, but you almost never can sell projects in that area unless you have a domain PhD. Most of this is from 3rd Generation R&D, written by former colleagues from Arthur D. Little, Phil Roussel, Tammy Erickson and Kamal Saad. Phil is no longer with us, great guy and good friend (always tell people, I taught him how to use a fax machine, 'Jay, how do I work this thing.' - 'Phil, put the page in there, and push that big green button.' - 'Oh, that was easy.' Safe to say, 23 years later I still have never written a cool book, but did know something he did not! This had 3 slides at the end of it that I cannot remember where they came from, think in the book but not in order.
One of the authors’ main motivations to publish this book is the need to raise the success rate of innova
-
tion projects undertaken by enterprises and organizations
.
The emphasis placed by the authors in the fuzzy front-end of the innovation process is due to the fact
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the decisive impact that this fuzzy front-end has in the fate and results of the innovation projects
. When
investing the necessary resources, using suitable human resources and promoting essential intangible
capacities to cover the demands of this crucial period, it is possible to reduce the risk of failure of the
innovation projects
. The high rate of failure is not only related to the very nature of the innovation, which
essentially means the attempt of something that has not been previously carried out
. Many projects fail
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are often explained on one hand by the lack of analysis and poor planning, and on the other hand, by the
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. Both those who assume a leadership role in decision making and those who from their most
specialized areas intervene in innovation projects, must understand innovation as a process incorporating
multiple factors, areas and dimensions, and which implies certain complexities for the management and
the employees
. In this way, it is possible to count with the necessary elements to practice analysis and
develop strategies
. Based on this approach it is possible to begin with the implementation of tools, which
allow materializing strategies
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section, arise from the practices of German companies and their successful innovation approaches
Technology commercialization strategy for a multidisciplinary R&D institutions such as GRO and CRO under new research and business development (R&BD) paradigm
Project managers historically have difficulty participating during the innovation phase or Fuzzy Front-End of new products. Incomplete requirements, non-secured budgets, and unrealistic timelines are normal challenges the Project Manager must face once new product development begins. By becoming involved before the project starts, many of these issues can be minimized. In order to become engaged, the Project Manager must seek to understand the dynamics of the Fuzzy Front-End and then insert their value to the normal dominant functions of business and technology.
SDSU Mgt747 FA13 summary - Technology Commercialization Ricardo dos Santos
Summary of SDSU's MBA class, MGT 747: Seminar in Technology Commercialization
Overview of major frameworks covered in class including disruptive innovation, customer development, business model generation and strategic choice canvas
The Fuzzy front end of innovation and the business model canvas.Quantum Lab
Graduation Thesis: International business and Management: Innovation and leadership @ IBMS Top of Holland. Result:8.9.
How can Lean Startup methodology be introduced towards structuring the fuzzy front end of New Product Development in an Agile software development environment, specifically Goyello?
One of the authors’ main motivations to publish this book is the need to raise the success rate of innova
-
tion projects undertaken by enterprises and organizations
.
The emphasis placed by the authors in the fuzzy front-end of the innovation process is due to the fact
WKDW ZLWKLQ WKHLU H[SHULHQFHV LQ WKH GLIIHUHQW ÀHOGV RI HFRQRPLF DFWLYLW\ WKH\ KDYH UHSHDWHGO\ ZLWQHVVHG
the decisive impact that this fuzzy front-end has in the fate and results of the innovation projects
. When
investing the necessary resources, using suitable human resources and promoting essential intangible
capacities to cover the demands of this crucial period, it is possible to reduce the risk of failure of the
innovation projects
. The high rate of failure is not only related to the very nature of the innovation, which
essentially means the attempt of something that has not been previously carried out
. Many projects fail
EHFDXVH RI PLVWDNHV RU GHÀFLHQFLHV LQ WKH PDQDJHPHQW RI WKHLU IURQW HDUO\ SKDVHV DQG WKHVH IDLOLQJV
are often explained on one hand by the lack of analysis and poor planning, and on the other hand, by the
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7KH WZR VHFWLRQV RI WKLV ERRN SXUVXH WZR PDLQ REMHFWLYHV ÀUVW WR GHOLYHU WKH UHDGHU WKH FRQFHSWXDO ED
-
sis to understand the why and how of innovation management with a strict orientation towards market
.
Since an isolated application of methods and tools, without previously establishing a clear action line and
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be avoided
. Both those who assume a leadership role in decision making and those who from their most
specialized areas intervene in innovation projects, must understand innovation as a process incorporating
multiple factors, areas and dimensions, and which implies certain complexities for the management and
the employees
. In this way, it is possible to count with the necessary elements to practice analysis and
develop strategies
. Based on this approach it is possible to begin with the implementation of tools, which
allow materializing strategies
.
%RWK WKH FRQFHSWXDO DSSURDFK LQ WKH ÀUVW VHFWLRQ RI WKH ERRN DQG WKH VHW RI WRROV SUHVHQWHG LQ WKH VHFRQG
section, arise from the practices of German companies and their successful innovation approaches
Technology commercialization strategy for a multidisciplinary R&D institutions such as GRO and CRO under new research and business development (R&BD) paradigm
Project managers historically have difficulty participating during the innovation phase or Fuzzy Front-End of new products. Incomplete requirements, non-secured budgets, and unrealistic timelines are normal challenges the Project Manager must face once new product development begins. By becoming involved before the project starts, many of these issues can be minimized. In order to become engaged, the Project Manager must seek to understand the dynamics of the Fuzzy Front-End and then insert their value to the normal dominant functions of business and technology.
SDSU Mgt747 FA13 summary - Technology Commercialization Ricardo dos Santos
Summary of SDSU's MBA class, MGT 747: Seminar in Technology Commercialization
Overview of major frameworks covered in class including disruptive innovation, customer development, business model generation and strategic choice canvas
The Fuzzy front end of innovation and the business model canvas.Quantum Lab
Graduation Thesis: International business and Management: Innovation and leadership @ IBMS Top of Holland. Result:8.9.
How can Lean Startup methodology be introduced towards structuring the fuzzy front end of New Product Development in an Agile software development environment, specifically Goyello?
Key talking points from my dissertation that explores how an organizational futurist can help integrate foresight into organizations: http://www.andyhinesight.com/wp-content/uploads/2012/12/Hines-Thesis-submission-final.pdf
Funded by the Finnish government (Tekes), the Playbook for Strategic Foresight and Innovation is a free how-to guide for learning innovation best practices and inculcating them in an organization. It is packed with over 250 pages of step-by-step instructions, diagrams, tips, examples, worksheets, case studies, and more.
Authors: Tamara Carleton, William Cockayne, Antti Tahvanainen
Sample excerpt. Download a free full copy from www.innovationacademy.io
It’s important to understand the potential impact that a new disruptive technology might have on the marekt. The role of the Market Opportunity Analysis (MOA) is to help guide the process of better understanding of the most important market segments, how fast the opportuity is growing, what are the key sustainable differentiations and why are these important. Finally, the purpose of the MOA is to, on one hand, describe the key value propostions and to profile the most important use cases and how best to acquire customers.
We have prepared the following template which describes the MOA process and how outlines the factors for successfully growing market share. Our IRG MOA PowerPoint takes you through the key steps for learning about emerging market opportunities and using that learning to influence strategic decision making.
ANGEL CAPITAL SUMMIT PRESENTATION: Due Diligence: Your Offensive Line, Your Offensive Weapon.
This presentation takes the reader through the due diligence process at a high level and sets expectations around what angel investors should be analyzing and exploring when analyzing a potential angel investment. Specifically, it covers how long should an angel investor spend on due diligence, an efficient due diligence process to quickly weed out unattractive deals and what things are analyzed when performing deep due diligence.
Ryan Goral, Founder of Strategic Equity Partners, www.separtners-llc.com
This presentation will discuss how you can develop your product market strategy to align with corporate operational objectives to drive meaningful development while demonstrating investment value and alignment.
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Strategic Foresight for Collaborative Exploration of New Business Fields
1. Strategic Foresight for Collaborative
Exploration of New Business Fields
Based on T. Heger, R. Rohrbeck, Strategic Foresight for collaborative exploration of new business fields, Tec.
Forecast. Soc. Change (2011), doi:10.1016/j.techfore.2011.11.003
Tobias Heger
Prof. Dr. René Rohrbeck
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
2. The use of foresight methods promises to overcome common
problems when entering new business fields.
Problems when entering business fields Needed abilities when entering business fields
Information is not detected Integration of multiple perspectives
Top management lacks the ability to access the Integration of key stakeholders throughout the
economic potential process
Information is filtered by middle management Top-management visibility or top-management
participation
Complex company structures trigger inertia
A combination of strategic foresight methods can help to overcome the challenges by …
… combining an external trend analysis with an internal analysis
… facilitating the strategy-formation process
… supporting strategic decision making
… moderating innovation planning
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
3. Our methodology draws from several guiding frameworks to address
the main dimensions of new fields.
Our foresight methdology Elements of guiding frameworks
Dimension Targeted elements Porter‘s 5 forces Business Business
(method) modelling planning
Product • Value proposition • Value proposition • Technology plan
properties • Relative product advantage • Customer
• Product positioning segments
(Use-cases) • Targeted market segment • Key activities
• Strategic fit • Key resources
• Customer expectations
Competitor • Up- and downstream partners • Rivalry among existing • Key partners • Competition
analysis • Industry growth and profitability competitors • Strategic position
• Competitors’ strategies • Bargaining power of
(Value Network, • Rivalry, competitive-ness and new buyers
MACTOR) competitors • Bargaining power of
• Power structures suppliers
• Convergences and divergences of • Threat of new market
interests entrants
Market analysis • Environmental conditions (political, • Threat of substitute • Industry analysis
(Scenario regulatory, and sociological) products and services and trends
• Market and technology trends and • Target market
Analysis) drivers • Risk assessment
• Future market configurations
Financial • Production costs • Financials
• Customers’ willingness to pay • Revenue stream
analysis
• Sales estimates • Cost structure
(Target Costing)
• Revenue estimations
• Market potential
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
4. Five methods are combined to answer the key questions that emerge
when exploring new business fields.
Product idea, emerging technologies, first ideas on product advantage Development of new business field
1
Final business
Use cases field validation
What are the key
product properties?
2/3
Who are the Has the
5
actors in the value New new business
network? What are Business field the potential to
their interests, how Fields become financially
Value Network & will they behave? viable?
MACTOR How will the market of the Target Costing
new business field evolve? What are
trends and barriers?
4
Scenario Analysis
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
5. The consecutive use of the methods exploits synergies in the data
collection and evaluation.
Method Re-use of data Targeted elements
1 • Value proposition • Product functions • Value proposition • Value proposition Product properties
• Product functions • Targeted market • Product functions
• Value proposition
(indicating relevant segments • Customer
actors) • Customer expectations • Relative product advantage
expectations • Market potential • Product positioning
• Targeted market segment
• Product
Use Cases positioning
• Strategic fit
2 • Up- and down- • Up- and down- • Up- and down- Competitor analysis
stream stream stream
• Up- and downstream
partnerships partnerships partnerships
• Interdependences • Interdependences partnerships
Value among actors among actors • Interdependencies among
actors
Network • Industry growth & profitability
3 • Competitor strategies • Rivalry, potential • Competitor strategies
• Rivalry, potential market entrants, • Rivalry, potential market
market entrants, competitiveness entrants, competitiveness
competitiveness • Power structures • Power structures
• Power structures • Convergences &
• Convergences & divergences of interest
MACTOR divergences
4 Market analysis
• Environmental conditions
• Market and tech. drivers
Scenario •
•
Future market configurations
Strategies to meet future
Analysis market conditions
5 Financial analysis
• Production costs
• Allowable retail price
Target •
•
Sales & revenue estimates
Market potential
Costing
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
6. Throughout the analyses collaboration and creativity methods
enhance the quality of results.
Face-to-Face http://
Desk Research
Meetings
Panel Discussions Publications
Workshops ? Questionnaires
Conference Calls Expert Knowledge
Mailing Lists @ Interviews
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Title
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences
of
7. The methodology provides a multi-level analysis, facilitates
collaboration and is adaptable to specific needs.
Project results Facilitation of collaboration
Identification of product properties for new Regular face-to-face meetings and panel
markets discussions foster quality
Description of the relevant actors Interactive workshops facilitate management
support
Explication of emerging alliances and
conflicts Use of collaboration tools increase project
communication efficiency
Insights on drivers, barriers and
showstoppers Team building activities increase commitment
Evaluation of the financial viability and cost Continuous alignment and visualization of
structures results and expectations ensure adherence of
time limits
Recommendations on how to enter the new
market
Tobias Heger • Universität Potsdam • Chair for Innovation Management and Entrepreneurship
Prof. Dr. René Rohrbeck • Aarhus University • Business and Social Sciences