Brands are responding in different ways to the innovation challenge. Matt Boffey,Founder at London Strategy Unit, will talk introduce 3 models for innovation, sharing the pros and cons for each and sharing examples of large corporates who have incorporated them into their organisation: - Innovation Lab - Entrepreneurship - Outsource

1. 4 models & 4 habits
that drive innovation
@LSUsocial

2. About LSU

3. Matt Boffey
Managing Director

4. What we do
Strategy
Innovation
Technology

5. Innovation means
Revenue streams created through
new products & services; and the
application of new business
models.
Innovation defined

6. Who we do it for

7. Questions we’ve helped
our clients to solve

8. adidas: What products should we develop
to meet the needs of players today?

9. NHS: How do we use tech to deliver more
effective healthcare, more efficiently?

10. Unilever: How do we further unlock
the value in Magnum’s equity?

11. FutureLearn: What does the best
online learning experience look like?

12. 4 models that
drive innovation

13. 4 models
1. Internal competition 2. Individual catalyst
3. The ‘Lab’ 4. Outside-in

14. 1. Internal competition
Incentivising great ideas from all over the business

16. Innovation is an
attitude, not a
department.

17. But when it’s everybody’s
responsibility, it’s
nobody’s problem.

18. 2. Individual catalyst
Giving people direction, resource and accountability

20. Individuals
can focus on, and
are accountable
for, delivering a
single big hit.

21. But rockstars can
quickly become divas.

22. 3. The ‘Lab’
Experimenting to deliver proof of concept

24. Harnesses
disruption on
behalf the
organisation.

25. But it can also mean a
trip to ‘Fantasy Island’.

26. 4. Outside-in
Knowledge from and collaboration with external talent

29. Neutralise your
future enemies by
making them
your friends.

30. What if?
didn’t turn down the chance to
partner with Netflix in 2000?
Yahoo didn’t turn down the
chance to partner with Google in
1998?

31. But if you find
your company
frustrating, imagine
what outsiders
will think.

32. ‘Outside-in’
With consumers
With start-ups &
other businesses
Live in
the now
Bet on the
future
Struggle to
imagine the next
big thing
Work in new
and different
ways

33. Risk vs. Reward
Breakthrough
Incremental
Low-cost High-cost
Lab
Individual
catalyst
Internal
competition
Outside-in

34. 4 habits that
drive innovation

35. 1Work in two
pizza teams

37. 2
Launch early,
launch often

38. ‘We prefer to have
something working
by the end of the day,
something to refine
and improve on the
next day...the beauty
of experimenting in
this way is you never
get too far away
from what the
market wants.’
Marissa Mayer, Yahoo

39. Navigate by users
3

40. ‘Usage is like
oxygen for ideas.
You can never fully
anticipate how an
audience is going to
react to something
you’ve created until
it’s out there.’
Matt Mullenweg,
Wordpress

41. Consumer needs
above your skills
4

42. ‘If we set our
strategy by what
our skills happen to
be rather than by
what our customers
need, we would
never have done it.’
Jeff Bezos,
Amazon

43. Thank you
matt@londonstrategyunit.com
07903991699