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Make it Real
Insights on Innovation Models
By
Ife Akinseinde
Make it Real
Contents
2
CHALLENGES
WHY PRIORITIZECULTIVATING
INNOVATION
INNOVATION MODELS CHARACTERISCTICS OF
AN INNOVATIVE
ORGANIZATION
BENEFITS
DEFINITION
CHOOSING THE RIGHT
MODEL - QUESTIONS
CONCLUSION
INNOVATION INSIGHTSTYPES DRIVERS
Make it Real
Definition
3
 Innovation is the process of implementing
new ideas to create value for an organization.
 About the creation of something valuable out
of a new idea.
 The value could come from an incremental
change or a big step change in how things are
currently being done.
 Innovation can also take the form of
discontinuing an inefficient or out-of-date
service, system, or process.
 Though similar in a way, there is a distinction
between innovation and disruption. Both look
at what is happening that is not efficient and
find ways to improve it.
 Disruptors are innovators, but not all
innovators are disruptors.
 Innovation and disruption are similar in
that they are both makers and builders.
 Disruption works by literally uprooting and
changing how we think, behave, do
business, learn and go about our day-to-
day.
 It displaces an existing market, industry, or
technology and produces something new
and more efficient and worthwhile. It is at
once destructive and creative. E.g., Apple,
Google etc.
Innovation Disruption
Make it Real
Types of
Innovation Product to Service
• Example is
smartphone
Process
• Ability to deliver
what you want to
deliver at a radically
lower cost with
better experience.
Business model
innovation
• Revenue stream
should be from
different sources or
value chain
Creativity
Delivery
Innovation
Make it Real
Innovation
Insights
ASPIRE
POWERFUL DELIVERY
CHOOSE
DISCOVER
EVOLVE
Evolve the business
model or risk extinction
MOBILISE
EXTEND
SCALE
ACCELERATE
SHAPED CREATIVITY
How good are you at making
innovation happen in your company?
Decide what you want to achieve with
innovation. Set what you want to do.
Key Performance Indicators (KPIs) can
be helpful
Make clear bets
Group decision
making
Go big
Open/ collaborate innovation. Make
efforts to defining, pruning, and
growing your network.
Link innovation choices to your strategy
decisions. Bring people together to share
ideas and knowledge.
Having the insights to birth ideas
McKinsey’s eight essentials of innovation from www.innovationmatrix.com
Make it Real
Drivers
Advancement in
Technology
Better Customer
Experience
Research
&
Development
Competitive
Environment
Disruptive
Innovation
Make it Real
Why Prioritize
For companies to remain relevant over the long run. Innovation is
often the most direct path to keeping an organization’s offerings
fresh and disrupting an industry’s status quo.
Companies need to keep innovating just to stay abreast of what’s
happening in their markets with their customers and competitors.
An opportunity for business to thrive.
Innovation is an organizational capability companies need to
develop in order to help fend off disruption.
Serves as a competitive edge
Without innovation companies go extinct.
It’s a threat to slower moving organizations, who may end up being
disrupted.
Make it Real
Cultivating
Innovation
InAn
Organization
IDENTIFY INVESTIGATEIGNITE INVEST
Have a mindset of curiosity
by being observant to facts,
trends and platform.
Be open-minded, make new
connections.
Ability to execute ideas
rapidly and take to market.
Building competencies in the
firm.
Develop skills of creativity by
creating a culture of free
expression to share ideas.
Generate ideas through
seeking new knowledge
outside areas of interest.
Creating value out of new
ideas that sprung from a
combination of ideas.
Design thinking.
Can be achieved through a
questioning culture to
analyze, access, test and
validate things.
Testing the idea to see if it
could be done better or
differently. Gives room for
failure here rather than in
implementation.
Business planning.
Ability to influence is
important for building
partnerships with
potential stakeholders.
Building a culture of
persuasion.
How we get things done and
make thigs happen.
Involves planning and
organizing, getting the right
mixture of skills, minimizing
risks building relationships
and alliances.
IMPLEMENT IMPROVE INTENT
Optimizing what we have
already got.
Re-evaluating or rethinking
what we are already doing.
Reviewing and accessing
what has been done, lessons
from past failures on
innovation, investigating
failure for continuous
improvement.
Goals and objective of
your company.
Purpose of what you are
doing.
What value are you trying
to create.
Make it Real
Characteristics
ofAn
Innovative
Organization Engages wisdom of the crowd,
crowdsourcing, brainstorming sessions
to source/develop/test for ideas.
Encourages diversity, collaboration,
invest in developing leadership skills and
cultivate a leaning culture.
Identify opportunities, ignite ideas
and solutions, investigate them to
see if they will work, invest in the
best ones, implement the idea into
the world and improve it to see if
more value can be created
For innovation to be really
successful, a range of skills,
behaviors and capabilities
are required.Only then can
real innovation happen
An organization that recognizes
change and adapts to it. Embraces
new technologies, models,
services around customer needs,
to preparing for the unknown
disruptions can bring.
Creates and implements a
corporate strategy that is
innovative, creative, and
changes as things changes
over a period of time. Not a
clear defined path
Recognize evolving
customer needs and
forcing new ways of
thinking within the
company
Make it Real
Innovation
Model
Innovation
Model
Creator
Solution
Builder
Leverager
Expander
Defender
Fast
Follower
There is no predefined
innovation model for
organizations.
Companies often derive
their own innovation
strategy which they use
to depict as innovation
model.
Innovation model refers
to the way a company
defines innovation logic.
Describes the rationale of
how an organization
creates, deliver and
capture innovation.
The process of an innovation
model is part of an innovation
strategy. It serves as a guide
for developing an innovation
strategy.
The need for growth in
businesses creates the need
for an innovation model.
A study of more than 100 of
the world most innovative
companies industry leaders
identified 6 distinct
innovation models and the
capabilities needed to
deliver each model.. By BCG’s report, 2017
Make it Real
SIX INNOVATIVE MODELS
Creator
Solution
Builder
DefenderLeverager Expander
Apply their core capabilities
in new ways to enter and
dominate adjacent markets
and spur growth. Have a
mandate for growth,
consistent in market
experimentation, open and
empowering innovation
culture.
Fast follower
We know best
Led by strong, bold,
visionary leader. They
destroy core markets,
have a closed innovation
approach and make
focused big bets that
become the stud of the
industry lore
We ‘re listening
We do it best
Seeking share to
steal
Ready to react
Look to the market for
inspiration, draw on
observations, deep
insights to address
customer priorities and
problems. Focus on
purchase experience,
customer at the center of
innovation.
Create a superior
business model and then
capitalize on it to sustain
a position of their
industry leadership and
drive on-going
advantage. Focus is on
the continuous
improvement of the
model.
Win in mature or slow-changing
sectors and to innovate defensively to
protect their advantage e.g brand
recognition. As technology transforms
more, this model becomes
increasingly risky. The ability to
monitor the landscape for potentially
disruptive innovations and to defend
against them using tactics such as
partnerships and acquisitions is key to
success.
Optimize their
capabilities in order to
quickly respond to and
often improve upon
competitive innovations.
Investment in go-to –
market excellence
Protecting your turf
By BCG’s report, 2017
Make it Real
• Apple
• Tesla
• Netflix
• Facebook
• Google
• Andela
Creator
• Nike
• Starbucks
• Irokotv
• Mall4Africa
Solution
builder • Zara
• Toyota
• MTN
• GTB
• Leadway assurance
• Jumia
leverager
• Amazon
• Gilead
• Paystack
• Hotels.ng
• Uber, Konga, channels TV
• DSTV, Dangote Cement
Expander • Pfizer
• Taxify
• Coca-cola
• Silverbird
• Spotify
Defender
• Lafarge
• Pepsi
Fast forward
The Six innovation models as shown below offers a great way for organizations to evaluate and refine their innovation
strategies. Each has a set of design principles and characteristics that govern the whole. It shows the types of companies
(Global and local) that exemplify each model.
By Mercy Akinseinde, 2017
Make it Real
Choosing
The
Right Model
• This is important because when the wrong innovation model or a model without
the capabilities a company requires is used, organizations can fall short.
• Organizations have to determine which type of innovation models leaders use,
which models are most successful in which industries, and which underlying
capabilities are necessary to deliver on each model.
• As the examples above show, companies in the same industry can succeed with
different models—but the chosen model must align with a company’s strategy,
strengths, and capabilities.
• Working through these questions will help companies choose the right model,
develop the supporting engine to drive it forward, and reap the growth dividends
that accrue from innovation success.
Make it Real
Questions to
Consider
When
Choosing
The
Right Model
Is innovation seen as a growth engine or a defensive tool in your overall corporate strategy?
How important is innovation to the company’s strategy, its competitive position in the larger market, and
the capabilities and advantages that set it apart?
How strong is your company’s competitive position, and how durable is the source of your
competitive advantage?
How important is brand, and what is the relative strength of your brand equity?
How important is brand, and what is the relative strength of your brand equity?
How much are you willing and able to invest in innovation? And, most important,
How quickly does your sector change—and what value can be gained if your organization stays ahead of the
curve?
Make it Real
Benefits
Drive growth through innovation enablement
Drive growth
Scale fast
A crucial initiative
for driving success in
your organization
long-term.
Competitive
Advantage
Make it Real
Challenges
Rapidly changing customer dynamics
Unsure of which technologies will
deliver the greatest return
Budget constraints
Requires human capabilities,Thrives
on collaboration
Competition
Make it Real
Conclusion
Innovation models serve as frameworks or guidelines for
developing a strategy for innovation. For success to be
achieved, an understanding of the six models and its
capabilities will enable leaders ascertain which model is
suitable for growing their company.
Make it Real
ThankYou
for
Listening
Contact Information
Name: Mercy Akinseinde
Phone:
Email: www.cavidel.com
18

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Innovation model for organizations

  • 1. Make it Real Insights on Innovation Models By Ife Akinseinde
  • 2. Make it Real Contents 2 CHALLENGES WHY PRIORITIZECULTIVATING INNOVATION INNOVATION MODELS CHARACTERISCTICS OF AN INNOVATIVE ORGANIZATION BENEFITS DEFINITION CHOOSING THE RIGHT MODEL - QUESTIONS CONCLUSION INNOVATION INSIGHTSTYPES DRIVERS
  • 3. Make it Real Definition 3  Innovation is the process of implementing new ideas to create value for an organization.  About the creation of something valuable out of a new idea.  The value could come from an incremental change or a big step change in how things are currently being done.  Innovation can also take the form of discontinuing an inefficient or out-of-date service, system, or process.  Though similar in a way, there is a distinction between innovation and disruption. Both look at what is happening that is not efficient and find ways to improve it.  Disruptors are innovators, but not all innovators are disruptors.  Innovation and disruption are similar in that they are both makers and builders.  Disruption works by literally uprooting and changing how we think, behave, do business, learn and go about our day-to- day.  It displaces an existing market, industry, or technology and produces something new and more efficient and worthwhile. It is at once destructive and creative. E.g., Apple, Google etc. Innovation Disruption
  • 4. Make it Real Types of Innovation Product to Service • Example is smartphone Process • Ability to deliver what you want to deliver at a radically lower cost with better experience. Business model innovation • Revenue stream should be from different sources or value chain Creativity Delivery Innovation
  • 5. Make it Real Innovation Insights ASPIRE POWERFUL DELIVERY CHOOSE DISCOVER EVOLVE Evolve the business model or risk extinction MOBILISE EXTEND SCALE ACCELERATE SHAPED CREATIVITY How good are you at making innovation happen in your company? Decide what you want to achieve with innovation. Set what you want to do. Key Performance Indicators (KPIs) can be helpful Make clear bets Group decision making Go big Open/ collaborate innovation. Make efforts to defining, pruning, and growing your network. Link innovation choices to your strategy decisions. Bring people together to share ideas and knowledge. Having the insights to birth ideas McKinsey’s eight essentials of innovation from www.innovationmatrix.com
  • 6. Make it Real Drivers Advancement in Technology Better Customer Experience Research & Development Competitive Environment Disruptive Innovation
  • 7. Make it Real Why Prioritize For companies to remain relevant over the long run. Innovation is often the most direct path to keeping an organization’s offerings fresh and disrupting an industry’s status quo. Companies need to keep innovating just to stay abreast of what’s happening in their markets with their customers and competitors. An opportunity for business to thrive. Innovation is an organizational capability companies need to develop in order to help fend off disruption. Serves as a competitive edge Without innovation companies go extinct. It’s a threat to slower moving organizations, who may end up being disrupted.
  • 8. Make it Real Cultivating Innovation InAn Organization IDENTIFY INVESTIGATEIGNITE INVEST Have a mindset of curiosity by being observant to facts, trends and platform. Be open-minded, make new connections. Ability to execute ideas rapidly and take to market. Building competencies in the firm. Develop skills of creativity by creating a culture of free expression to share ideas. Generate ideas through seeking new knowledge outside areas of interest. Creating value out of new ideas that sprung from a combination of ideas. Design thinking. Can be achieved through a questioning culture to analyze, access, test and validate things. Testing the idea to see if it could be done better or differently. Gives room for failure here rather than in implementation. Business planning. Ability to influence is important for building partnerships with potential stakeholders. Building a culture of persuasion. How we get things done and make thigs happen. Involves planning and organizing, getting the right mixture of skills, minimizing risks building relationships and alliances. IMPLEMENT IMPROVE INTENT Optimizing what we have already got. Re-evaluating or rethinking what we are already doing. Reviewing and accessing what has been done, lessons from past failures on innovation, investigating failure for continuous improvement. Goals and objective of your company. Purpose of what you are doing. What value are you trying to create.
  • 9. Make it Real Characteristics ofAn Innovative Organization Engages wisdom of the crowd, crowdsourcing, brainstorming sessions to source/develop/test for ideas. Encourages diversity, collaboration, invest in developing leadership skills and cultivate a leaning culture. Identify opportunities, ignite ideas and solutions, investigate them to see if they will work, invest in the best ones, implement the idea into the world and improve it to see if more value can be created For innovation to be really successful, a range of skills, behaviors and capabilities are required.Only then can real innovation happen An organization that recognizes change and adapts to it. Embraces new technologies, models, services around customer needs, to preparing for the unknown disruptions can bring. Creates and implements a corporate strategy that is innovative, creative, and changes as things changes over a period of time. Not a clear defined path Recognize evolving customer needs and forcing new ways of thinking within the company
  • 10. Make it Real Innovation Model Innovation Model Creator Solution Builder Leverager Expander Defender Fast Follower There is no predefined innovation model for organizations. Companies often derive their own innovation strategy which they use to depict as innovation model. Innovation model refers to the way a company defines innovation logic. Describes the rationale of how an organization creates, deliver and capture innovation. The process of an innovation model is part of an innovation strategy. It serves as a guide for developing an innovation strategy. The need for growth in businesses creates the need for an innovation model. A study of more than 100 of the world most innovative companies industry leaders identified 6 distinct innovation models and the capabilities needed to deliver each model.. By BCG’s report, 2017
  • 11. Make it Real SIX INNOVATIVE MODELS Creator Solution Builder DefenderLeverager Expander Apply their core capabilities in new ways to enter and dominate adjacent markets and spur growth. Have a mandate for growth, consistent in market experimentation, open and empowering innovation culture. Fast follower We know best Led by strong, bold, visionary leader. They destroy core markets, have a closed innovation approach and make focused big bets that become the stud of the industry lore We ‘re listening We do it best Seeking share to steal Ready to react Look to the market for inspiration, draw on observations, deep insights to address customer priorities and problems. Focus on purchase experience, customer at the center of innovation. Create a superior business model and then capitalize on it to sustain a position of their industry leadership and drive on-going advantage. Focus is on the continuous improvement of the model. Win in mature or slow-changing sectors and to innovate defensively to protect their advantage e.g brand recognition. As technology transforms more, this model becomes increasingly risky. The ability to monitor the landscape for potentially disruptive innovations and to defend against them using tactics such as partnerships and acquisitions is key to success. Optimize their capabilities in order to quickly respond to and often improve upon competitive innovations. Investment in go-to – market excellence Protecting your turf By BCG’s report, 2017
  • 12. Make it Real • Apple • Tesla • Netflix • Facebook • Google • Andela Creator • Nike • Starbucks • Irokotv • Mall4Africa Solution builder • Zara • Toyota • MTN • GTB • Leadway assurance • Jumia leverager • Amazon • Gilead • Paystack • Hotels.ng • Uber, Konga, channels TV • DSTV, Dangote Cement Expander • Pfizer • Taxify • Coca-cola • Silverbird • Spotify Defender • Lafarge • Pepsi Fast forward The Six innovation models as shown below offers a great way for organizations to evaluate and refine their innovation strategies. Each has a set of design principles and characteristics that govern the whole. It shows the types of companies (Global and local) that exemplify each model. By Mercy Akinseinde, 2017
  • 13. Make it Real Choosing The Right Model • This is important because when the wrong innovation model or a model without the capabilities a company requires is used, organizations can fall short. • Organizations have to determine which type of innovation models leaders use, which models are most successful in which industries, and which underlying capabilities are necessary to deliver on each model. • As the examples above show, companies in the same industry can succeed with different models—but the chosen model must align with a company’s strategy, strengths, and capabilities. • Working through these questions will help companies choose the right model, develop the supporting engine to drive it forward, and reap the growth dividends that accrue from innovation success.
  • 14. Make it Real Questions to Consider When Choosing The Right Model Is innovation seen as a growth engine or a defensive tool in your overall corporate strategy? How important is innovation to the company’s strategy, its competitive position in the larger market, and the capabilities and advantages that set it apart? How strong is your company’s competitive position, and how durable is the source of your competitive advantage? How important is brand, and what is the relative strength of your brand equity? How important is brand, and what is the relative strength of your brand equity? How much are you willing and able to invest in innovation? And, most important, How quickly does your sector change—and what value can be gained if your organization stays ahead of the curve?
  • 15. Make it Real Benefits Drive growth through innovation enablement Drive growth Scale fast A crucial initiative for driving success in your organization long-term. Competitive Advantage
  • 16. Make it Real Challenges Rapidly changing customer dynamics Unsure of which technologies will deliver the greatest return Budget constraints Requires human capabilities,Thrives on collaboration Competition
  • 17. Make it Real Conclusion Innovation models serve as frameworks or guidelines for developing a strategy for innovation. For success to be achieved, an understanding of the six models and its capabilities will enable leaders ascertain which model is suitable for growing their company.
  • 18. Make it Real ThankYou for Listening Contact Information Name: Mercy Akinseinde Phone: Email: www.cavidel.com 18