Innovation should not be accidental, it can be managed! This short presentation walks us through different drivers, models, processes and engagement types around innovation.
Content of the presentation was tailored for Shared Service Centers.
Attached is a slideshow that outlines the innovation and marketing strategy consulting services offered by Braden Kelley of Business Strategy Innovation.
The business model innovation process: a temporal perspectiveNiamh O Riordan
This presentation reports on a proposal to view business model innovation as a process that was recently presented at the Australasian Conference on Information Systems
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
Leveraging Design Thinking for Value Enhancement of Digital Transformation Innomantra
EXECUTIVE SUMMARY
Digital Transformation has been making waves and has found widespread recognition in most industries. What started as a driver of marginal efficiency is now rapidly shifting to become an enabler of fundamental innovation and disruption within an organization. The scope and scale of digital-driven change continue to grow immensely. However, organizations are still grappling with the nuances of the journey of digital transformation implementation, its implications or its impact. Digital transformation is not about adopting technologies but having an integrated approach involving people and leadership.
This white paper presents the context of digital transformation in manufacturing organizations. It redefines the process to incorporate important aspects such as breaking the silos, rescoping the challenge/ objectives, having an iterative approach and using design thinking to better understand the value implication of such an exercise. Case studies from clients have been used to illustrate the same.
Keywords: Design Thinking, Industry 4.0, Manufacturing industries, Smart factory, Value Assessment, Digital Transformation, Value Implementation
Innovation should not be accidental, it can be managed! This short presentation walks us through different drivers, models, processes and engagement types around innovation.
Content of the presentation was tailored for Shared Service Centers.
Attached is a slideshow that outlines the innovation and marketing strategy consulting services offered by Braden Kelley of Business Strategy Innovation.
The business model innovation process: a temporal perspectiveNiamh O Riordan
This presentation reports on a proposal to view business model innovation as a process that was recently presented at the Australasian Conference on Information Systems
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
Leveraging Design Thinking for Value Enhancement of Digital Transformation Innomantra
EXECUTIVE SUMMARY
Digital Transformation has been making waves and has found widespread recognition in most industries. What started as a driver of marginal efficiency is now rapidly shifting to become an enabler of fundamental innovation and disruption within an organization. The scope and scale of digital-driven change continue to grow immensely. However, organizations are still grappling with the nuances of the journey of digital transformation implementation, its implications or its impact. Digital transformation is not about adopting technologies but having an integrated approach involving people and leadership.
This white paper presents the context of digital transformation in manufacturing organizations. It redefines the process to incorporate important aspects such as breaking the silos, rescoping the challenge/ objectives, having an iterative approach and using design thinking to better understand the value implication of such an exercise. Case studies from clients have been used to illustrate the same.
Keywords: Design Thinking, Industry 4.0, Manufacturing industries, Smart factory, Value Assessment, Digital Transformation, Value Implementation
This is the third of three decks which present a new collaborative innovation reference model. This deck considers different "types" of innovation: Open Innovation, Business Model innovation, etc within the context of the reference model we suggested in the second deck. Your comments and suggestions are welcome.
This presentation describes five tools to help align any innovation effort with strategic goals. Too often innovation isn't aligned with strategic goals and is often viewed as a failure as a result.
The presentation covers innovation strategies that have been implemented by different companies in different industries to disrupt the market and become leaders in their industries.
This is the second deck of three which defines a collaborative innovation reference model. In this deck we identify five areas of consideration whenever an innovation effort is considered: Strategic context, Insights, Go To Market, enabling infrastructure and systematic innovation processes.
WEBINAR Replay: http://bit.ly/1lYM9nX
Wed, Apr 9, 2014 11:00 AM - 12:00 PM EST
Often when people think about innovation the first thing that comes to mind is product innovation. With ten different types of innovation, the more types you can incorporate the more chance your innovations are likely to be successful.
This webinar will show you how to use ten sources of innovation to develop the ideas that could lead to the next big thing. Topics this interactive webinar will cover are:
• Why innovation is such a hot topic and why you can't ignore the trend
• What are ten sources of innovation
• How local companies are using innovation (case studies)
• What does all this mean for my business- the innovators dilemma.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mobilskole AS
Presentation during the Gründerskolen Alumni event on September 12 2009. See grunderskolenalumni.wordpress.com.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsnes, CapGemini Norway
Slides from a keynote at the Intrapreneurship Conference in London in 2016, outlining how established companies design new growth ventures from within.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
The innovation funnel is constantly evolving. Initially a tool borrowed from sales teams to collect ideas, it has morphed to incorporate "open" innovation ideas. Now it evolves again to consider opportunities, ideas, technologies and products as a bridge from customer need to customer solution.
This is the third of three decks which present a new collaborative innovation reference model. This deck considers different "types" of innovation: Open Innovation, Business Model innovation, etc within the context of the reference model we suggested in the second deck. Your comments and suggestions are welcome.
This presentation describes five tools to help align any innovation effort with strategic goals. Too often innovation isn't aligned with strategic goals and is often viewed as a failure as a result.
The presentation covers innovation strategies that have been implemented by different companies in different industries to disrupt the market and become leaders in their industries.
This is the second deck of three which defines a collaborative innovation reference model. In this deck we identify five areas of consideration whenever an innovation effort is considered: Strategic context, Insights, Go To Market, enabling infrastructure and systematic innovation processes.
WEBINAR Replay: http://bit.ly/1lYM9nX
Wed, Apr 9, 2014 11:00 AM - 12:00 PM EST
Often when people think about innovation the first thing that comes to mind is product innovation. With ten different types of innovation, the more types you can incorporate the more chance your innovations are likely to be successful.
This webinar will show you how to use ten sources of innovation to develop the ideas that could lead to the next big thing. Topics this interactive webinar will cover are:
• Why innovation is such a hot topic and why you can't ignore the trend
• What are ten sources of innovation
• How local companies are using innovation (case studies)
• What does all this mean for my business- the innovators dilemma.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsn...Mobilskole AS
Presentation during the Gründerskolen Alumni event on September 12 2009. See grunderskolenalumni.wordpress.com.
Mastering the Dynamics of Innovation by Bernt Kristian Jensen and Tore Hundsnes, CapGemini Norway
Slides from a keynote at the Intrapreneurship Conference in London in 2016, outlining how established companies design new growth ventures from within.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
The innovation funnel is constantly evolving. Initially a tool borrowed from sales teams to collect ideas, it has morphed to incorporate "open" innovation ideas. Now it evolves again to consider opportunities, ideas, technologies and products as a bridge from customer need to customer solution.
How to Balance Innovation and Optimization in your CRO programVWO
These days digital marketers must use innovation to keep their brands relevant and engaging. But isn’t straying from the status quo risky? With 7 years of web experimentation experience, CRO Consultant Sam Baker will show you how to balance innovation and optimization to synchronize the two approaches, rather than causing the type of friction that negatively impacts conversion.
Your VoC Programme is underperforming - and you know itFuturelab
Your VoC Programme is underperforming - and you know it.
This paper is not to convince you that you should have a Voice of the Customer (VoC) program. It’s 2020 – we assume you have this by now. If not, please let us know if you need arguments to convince your manager, we will help you.
However, 50% of all Voice of the Customer practitioners are unhappy with their programme1.
Fred Reichheld, the creator of the Net Promoter System, claims that 70% of companies do NPS wrong. And too many VoC programmes that we at Futurelab have ever encountered are struggling to reach their full potential or present a substantial ROI. Given the current focus on ROI in the evaluation of VoC (and in the broader sense CX) programmes, this is a dangerous position to find yourself.
In this paper, we show you the key steps you must take to ensure the success of your VoC programme – whether it is based on NPS, CES or other metrics.
Please join us for one of the webinars where I will give you cases, examples and best and worst practice stories to bring it all to life: https://lnkd.in/g8gNeSB
#customercentricity #cx #customerexperience #voiceofthecustomer #VoC
#NPS
Your VoC Programme is underperforming - do something about itFuturelab
This paper is not to convince you that you should have a Voice of the Customer (VoC) program. It’s 2020 – we assume you have this by now. If not, please let us know if you need arguments to convince your manager, we will help you.
However, 50% of all Voice of the Customer practitioners are unhappy with their programme1.
Fred Reichheld, the creator of the Net Promoter System, claims that 70% of companies do NPS wrong. And too many VoC programmes that we at Futurelab have ever encountered are struggling to reach their full potential or present a substantial ROI. Given the current focus on ROI in the evaluation of VoC (and in the broader sense CX) programmes, this is a dangerous position to find yourself.
In this paper, we show you the key steps you must take to ensure the success of your VoC programme – whether it is based on NPS, CES or other metrics.
Please join us for one of the webinars where I will give you cases, examples and best and worst practice stories to bring it all to life: https://lnkd.in/g8gNeSB
Have you ever wondered what a product launch is?
A product launch is a planned marketing event that introduces a new product to the market. It's an exciting time for businesses as it represents a major milestone in the product development process.
A successful product launch requires careful planning and execution. It's not just about releasing a new product, but also generating buzz, building anticipation, and creating a memorable experience for your target audience.
Here are some key elements of a successful product launch:
• A clear understanding of your target audience and their needs
• A well-defined launch plan that outlines your goals, timeline, and budget
• A comprehensive marketing strategy that leverages various channels to reach your audience
• Creative and compelling messaging that highlights your product's unique features and benefits
• Influencer partnerships to amplify your reach and lend credibility to your brand
• Special launch offers and promotions to incentivize early adoption
Launching a new product is an exciting and challenging experience, but with the right strategy and execution, it can be a game-changer for your business.
Get in touch with us for more information about product launch: tips and strategies bit.ly/3ZhEn0q
And get started with WebMaxy for free trial: https://calendly.com/webmaxy/30min
#ProductLaunch #launchofproduct #whatisaproductlaunch #productlaunchplan #productlaunchstrategies #productlaunchmarketingplan #launchstrategyforanewproduct #Whatismarketingplanforproductlaunch #Whatarethethreetypesofproductlaunch #Howtomarketnewproductlaunch
Creating Actionable Product Strategy by Turo Director of ProductProduct School
Main Takeaways:
- Measure what matters – Establishing the right metrics and KPIs early on can provide tremendous clarity. Driving towards the wrong goals can result in team misalignment, at best, and a failed product strategy, at worst.
- Distinguish the highest impact ideas from the good ideas
- Most companies have lots of good ideas. PMs must separate the great from the good, and craft product strategies that yield the highest impact outcomes for their customers and business.
Iterate, based on customer feedback & data – Great product strategies should evolve over time, with the ongoing incorporation of customer feedback, data, and stakeholder input. Strategies developed in a vacuum are unlikely to succeed, as are strategies that fail to evolve with the changing needs of customers.
How to Introduce Operational Excellence in your Organisation?Tina Arora
This presentation will help you present to the management the need and benefits of introducing Operational Excellence as a department in your Organisation.
It can be modified to suit the advocacy in any industry - be it Financial services, BPO, LPO, KPO, Domestic call centres, Manufacturing, Consumer Goods, Retail, etc.
Lean start up bootcamp 4 measure test pivot or perservereJames Cracknell
Stage 4 of the journey and the hardest aspect of being in business. Knowing when to Pivot or Persevere - hard because we need to confront home truths - valuable because e preserve capital
How to fortify UA strategy with creatives testingSplitMetrics
SplitMetrics & AppAgent share advice on how to enhance user acquisition strategy with creatives testing: best practices, advice on hypotheses and winning even without a winner + thoughts on iOS14 & IDFA.
We discuss all these questions:
- Importance of creative testing in UA & some real success stories with KPIs boost
- How to test: golden rules of creative testing today
- Connecting the dots throughout the acquisition journey
- How to build hypotheses that provide valuable insights
- Where to test: most optimal platforms and formats
- How not to test: mistakes to avoid
- How to win without a winner: value of A/B tests without a winning variant
- What changes to expect with iOS 14 & IDFA deprecation
- Collaboration between the UA and creative teams
Similar to Lean Innovation for Micro Enterprises Module 9 Is it worth implementing Lean Innovations? (20)
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Digital Tools and AI for Teaching Learning and Research
Lean Innovation for Micro Enterprises Module 9 Is it worth implementing Lean Innovations?
1. Module 9:
Is it worth implementing
Lean Innovations?
How to evaluate innovation
2. Lean evaluation can give You valuable
feedback without spending too much time on
gathering and analysing data
LEAN
EVALUATION
3. 3
1. The principles of
lean evaluation:
Validated
learning
create
learning
experiments,
where teams
follow a
continuous
cycle of ‘build-
measure-
learn’
Innovation
accounting
choosing key
metrics that
enable you to
track and
measure what
really matters:
user
engagement
with the
product,
assumption-
testing, and
current
product value
Real
metrics
build
experiments
around “real”
metrics, rather
than ”vanity”
metrics
Pivot or
persevere?
“pivot” means
changing
direction
without totally
abandoning
previous
learning or
product vision
Continuous
testing and
iteration
doing real-
time user
testing, finding
out what the
customer
really wants
and making
business
decisions
following user
feedback
1.
LEAN
EVALUATION
4. 2. Innovation accounting
The most important while evaluating new ideas
Innovation accounting
allows a team to:
Build a model of customer behaviour over time
Use that model to change the product/service
and change customer behaviour
Ergo, establish facts about validity of the vision
and if it is sustainable
The three major learning milestones
in innovation accounting are:
Building an MVP and establishing a baseline
and feedback loop with customers
Run experiments on the MVP to move from
baseline customer behaviour to ideal customer
behaviour
Decision point — persevere or pivot, based on
what has been learned
2.
INNOVATION
ACCOUNTING
5. The innovation accounting process
1. Choose your metrics
The key is to keep metrics simple and easy to
use
If you’re wondering where to start, the above
first level examples may provide an entry point
Or you can prompt ideas by asking yourself
these questions and then refining the answers
into metrics for which the data is available:
• Did we do what we said we would?
• How are people working differently?
• Do users see an improvement? (referring back
to the original problem or need that your
product is an attempt to solve)
• What new sources of growth are we tapping?
Source: https://www.boldare.com/blog/lean-startup-innovation-accounting/
2.
INNOVATION
ACCOUNTING
6. The innovation accounting process
2. Monitor the data
Apply your chosen metrics to the three levels
Gather the data and measure progress
3. Hold the project to account
Act on the data you have
Is the project team performing to plan?
What progress is being made, and in what direction?
Is the product development still aligned to identified user
needs?
Source: https://www.boldare.com/blog/lean-startup-innovation-accounting/
2.
INNOVATION
ACCOUNTING
7. 3. Input vs. Output metrics
The main role of innovation metrics is to make sure you’re doing enough of the right
activities to reach your goals
They are typically divided into two different categories: input metrics and output
metrics
In other words: what goes into your innovation process and what comes out of it
3.
INPUT
VS.
OUTPUT
METRICS
8. 3.
INPUT
VS.
OUTPUT
METRICS
You can compare Input vs. Output metrics
INPUT METRICS… OUTPUT METRICS…
… A R E U S E D F O R
M E A S U R I N G Y O U R
I N V E S T M E N T S :
… A R E U S E D F O R
M E A S U R I N G Y O U R
R E T U R N S :
M O N E Y S P E N T F O R
D E S I G N I N G / T E S T I N G N E W O R
I M P R O V E D P R O D U C T A S A
P E R C E N T A G E O F S A L E S
T H E N U M B E R O F
I N N O V A T I O N P R O J E C T S
S T A R T E D
T H E N U M B E R O F N E W I D E A S
I N T H E P I P E L I N E
N U M B E R O F N E W
E M P L O Y E E S T H A T N E E D T O
B E I N C L U D E D I N T H E
D E S I G N / T E S T I N G P H A S E O F A
N E W / I M P R O V E D P R O D U C T
N U M B E R O F N E W P R O D U C T S
L A U N C H E D I N X A M O U N T O F
T I M E
R E V E N U E / P R O F I T G R O W T H
F R O M N E W P R O D U C T S
R O I ( R E T U R N O N
I N V E S T M E N T ) O F
I N N O V A T I O N A C T I V I T I E S
A C T U A L V S . T A R G E T E D
B R E A K - E V E N T I M E F O R N E W
P R O D U C T S
Watch “What is the difference
between Input KPIs vs Output KPIs”
You Tube Link
(4.0mins)
9. REMEMBER!
To get a more complete picture,
it’s best to use a mixture of input and output metrics!
For example, rather than simply measuring how much money we have spent
during the design/testing phase (an input metric), you should measure this spend
against the revenue generated by products recently released to the market
This combined approach helps to tell both sides of the story:
the investments a company is making in innovation, and the results of these
investments over time
3.
INPUT
VS.
OUTPUT
METRICS
10. Value Metrics
• Acquisition. How do users find out?
• Activation. Do users have a great first experience?
• Retention. Do users come back?
• Revenue. How do You make money?
• Referral. Do users tell others?
4. Lean innovation key metrics
4.
LEAN
INNOVATION
KEY
METRICS
11. Financial KPIs
If You want to concentrate only on
finance – use financial KPI’s
• Ideation ratio - Sum total of the
potential value of all creative ideas
• Implementation ratio - Sum total of
the actual implemented impact from
all creative ideas
Explanation & worked example
4.
LEAN
INNOVATION
KEY
METRICS
You Tube Link
I
Watch
“The 10 Biggest mistakes
companies make with KPIs (Key
Performance Indicators)”
(8.0mins)
12. 4.
LEAN
INNOVATION
KEY
METRICS
REMEMBER!
Try not to use too many different
metrics !
Using too many different metrics can result
in a confused and inconsistent picture of
company innovation
So, start off nice and easy, get the right
people on board, and pick just a handful of
innovation KPIs to begin with
Your staff will thank you
Once you’ve found an approach that
works, stick with it!
Sticking with one measurement approach
over time will ensure your results are
standardised and can be compared
between quarters
Stick with something long enough, and
you’ll be able to tell a convincing story of
your innovation trends
13. But which innovation metrics and KPIs should you use?
You should choose metrics that are consistent with your innovation strategy, and which match
the areas of investment focus for the upcoming years. Consider these factors, and develop
your own “metrics mashup” covering the areas of company creativity that matter most to you.
To ensure you capture all elements of innovation, it is recommended to use following
metrics and KPIs:
3. The number of innovative projects progressing through project milestones each quarter
4.
LEAN
INNOVATION
KEY
METRICS
1. The overall percentage of revenue generated from recent innovations (for example, products released to
market in the last two to three years)
2. The percentage of staff time (including executive time) spent on high-yield innovation activities (in other
words, creative efforts resulting in innovations with market potential)
14. 5. Methods of evaluation
Scored SWOT analysis
This SWOT analysis approach includes a scoring
system in which reviewers give 0 to 5 points each
for strengths and opportunities, and take away 0 to
5 points each for weaknesses and threats
This provides a SWOT metric which can be handy
for comparing large numbers of ideas
Weaknesses
Opportunities
Threats
Strengths
SWOT
5.
METHODS
OF
EVALUATION
Watch “Business strategy - SWOT analysis”
You Tube Link
(3.0 mins)
16. Evaluation matrix
is a simple array in which experts compare an idea with a set of criteria. In our experience, five criteria is best
as it allows for a rounded review without bogging the evaluators down in unnecessary detail. The evaluator
ranks how well the idea meets each criterion (we use a scale of 0-5 points for each criterion).
Evaluators are also encouraged to provide comments elaborating on their ratings and, in particular, suggesting
how the idea might be improved to overcome weaknesses. The evaluation matrix provides a criterion by
criterion score as well as an overall score for each idea.
Assuming several ideas focusing on a particular problem or business issue are being evaluated at the same
time, these scores can be compared, and the highest scoring ideas can be selected for further review.
You can find the evaluation matrix step-by-step guide in the Module 9 Notes
Criteria
Coefficient
Idea A
Weighted
rating
Idea B
Weighted
rating
…
You Tube Link
The detailed description
of the procedure is here:
5.
METHODS
OF
EVALUATION
(8.25 mins)
17. 6. Pivot or Persevere?
https://medium.com/swlh/pivot-patch-or-persevere-i-patched-the-lean-startup-206d63023b9c
Persevering with your current business strategy means that you keep
believing in what you set out to achieve, only you will implement small
changes and updates every day to make progress toward your
goals.
Using ongoing build – measure - learn cycles, you try to move the
drivers of the business model in the direction of a favourable outcome.
Pivoting is what you should consider when you come to the conclusion that you’re not making any progress (or not
enough) toward product/market fit. A pivot is a radical course correction, going in a new direction, with a new hypothesis
about your product, strategy and business model.
In Pivot Mode, your unit of progress is creative destruction. You have successfully pivoted when you have re-imagined what
your company is for. Your reinvented business doesn’t look at all like the previous one. Therefore, a pivot is something that
happens only a few times in the life of the average company.
6.
PIVOT
OR
PERSEVERE?
Watch “The Lean Startup - Time to
Pivot... or Persevere?
You Tube LInk (10.0 mins)
18. Types of pivot
1. Zoom-in pivot. This pivot can be useful when you see that one feature in your product gets far more traction
and interest than the other features in your product. You can then "pivot" by offering a new product that
offers only that one feature.
2. Zoom-out pivot. This is the above pivot in reverse. You broaden your product to include more features. Now
what was considered the whole product becomes one (or several) features of a larger product.
3. Customer segment pivot. Your product may prove popular but not with the user segment that you had initially
targeted. Therefore your product positioning may need to change and the value proposition, pricing, and
channels would all need to be reviewed.
4. Customer need pivot. Imagine you use the Lean Startup framework to identify early on that the problem you are
trying to solve with your product is not very important to customers. Then you must understand more
deeply the job that they are trying to do and find a problem they are willing to pay you to solve.
5. Platform pivot. This talks about a change from an application to a platform or vice versa. Examples of
platforms are eBay, AirBnb, Uber, Android store etc.
6.
PIVOT
OR
PERSEVERE?
Source: https://openclassrooms.com/en/courses/4544561-
learn-about-lean-startup/4716471-learn-how-and-when-to-pivot
19. Types of pivot
6. Business architecture pivot. There are two types of business: high-margin, low-volume and low-margin, high-
volume. You cannot be both, but sometimes you can pivot from one to the other.
7. Value capture pivot. This pivot refers to changes in how you monetise or earn revenue. When you change how
you make money, this impacts the product, business, sales, marketing and operational sides of the
business model.
8. Engine of growth pivot. Viral growth is when current users recommend other users. Paid growth is when you
spend marketing money on acquiring new customers. Sticky growth is when you manage to retain most of
your users and churn rate is low. You can pivot from one of these growth engines to another.
9. Channel pivot. Here you change how and where you sell your products and services (in stores, online, through
partners, in-app).
10. Technology pivot. This pivot is when a new technology can be used to achieve the same outcome. This can be
beneficial if the new solution has a lower cost and/or better performance.
6.
PIVOT
OR
PERSEVERE?
20. The Early Pivot of Twitter
Twitter actually had a different company name to begin with:
"Odeo". In 2005, their product was a podcast service. Users
could create podcasts, but also find and subscribe to them.
However, the same year, Apple announced that iTunes would
include a podcasting platform in all iPods. Odeo was never
going to successfully compete with Apple. So its 14 employees
started to brainstorm ideas and look for new directions.
One employee, Jack Dorsey, came up with an idea to build a
product for group SMS (texts). Customers could update their
status to a group of friends via SMS (text) and see a timeline of
their status changes.
Source: https://openclassrooms.com/en/courses/4544561-learn-about-lean-startup/4716471-learn-how-and-when-to-pivot
6.
PIVOT
OR
PERSEVERE?
21. Thank You and keep innovating !
The primary engine for keeping the
learning process moving forward is the
Build-Measure-Learn feedback loop
The faster a team can go through the
loop, the faster they can learn, and
theoretically, the faster they can create a
sustainable business
Remember!
6.
PIVOT
OR
PERSEVERE?