NC State's Poole College of Management presents the misconceptions of innovation's role in business and the benefits resulting from the effective implementation of innovation into your company.
2. Welcome: Your Hosts & Presenters
Dr. Richard Kouri
Executive Director,
Biosciences Management
MBA Program, NC State
University College of
Management
Ms. Lee Clark-Sellers
Program Director, Executive
Programs – Managing
Disruptive Innovation
CIMS Industrial Fellow
Mr. Paul Mugge
Innovation Professor, College
of Management, and
Executive Director, Center for
Innovation Management
Studies (CIMS) at NC State
University
Mr. Shawn Gallagher
Sr. Director, Outsourcing
Operations, Eisai, Inc.
3. Top Tier Research School
• 5th for corporate research
• 7th in Industry Research Funding (non-medical school)
• 9th in Total Research Expenditures
(non-medical schools)
“Locally responsive…
Globally engaged”
Chancellor Randy Woodson
NC State University
6. Innovation Poll
• How market aware is your company?
oWe drive the market
oWe are in touch with the market
oWe are too busy and don’t have time
7. INNOVATION
It’s thrown around often.
The executive MANTRA
Today’s HOT term
Another NEWS story
HR HIRING DIRECTIVE
R&D’s CLAIM TO FAME
8. Why The Focus on
INNOVATION?
Executives fear their businesses
becoming commoditized1
2Desperately seeking ways to
distinguish products and services
Cost Control is now a way of life –
sustainable, profitable growth is a challenge3
9. A Common
INNOVATION Problem
• Innovation revolves around old concepts
• Limited in risk
• Close to today’s ways of doing business
• Minimal impact.
10. – or
They vanish from sight then return with big ideas.
Common
MISCONCEPTIONS
14. $ Top Line Growth $
Innovation is the only business activity
that can increase the size of the pie
15. SURPRISE!
• Innovation is a deliberate process that
combines resources
– Ideas, people, products & services
– Processes, tools, strategy and metrics
– Defined activities that cross functional areas
INNOVATION
converts ideas into
commercial successes
16. Not To Worry!
• You can manage innovation and put your
company on the path to leadership.
• You can build a culture of innovation across the
enterprise that sees no boundaries.
• You can lead the innovation charge.
17. Managing INNOVATION requires
specific tools, functions and expertise.
•Recognize market signals
•Create a culture of innovation
•Cross business functions
•Transform business models
18. The CIMS INNOVATION
Management Framework™
A systematic way to manage innovation
•Built upon an enormous body of knowledge
•27 + years of research and proven applicability from the
Center for Innovation Management Studies (CIMS)
•Validated with leading global enterprises
A Common Language
A Common Platform
22. Dimensions
Levers that
managers can
use to build
repeatable,
scalable
organizational
capabilities
ProjectManagement
MarketManagement
IdeaManagement
PlatformManagement
PortfolioManagement
Industry
Firm
Macro-environment
Competencies
Dimensions
Levels
24. Recognizing
MARKET SIGNALS
How bad do you think the
recession is gonna be? Will I
have to trade my house for grain
and move into my car?
25. Innovation
management means
being intensely
market-driven.
“Market-driven firms are, on
average, 31% more profitable
than self-centered firms.”
25
“The Market Driven Organization: Understanding, Attracting, and Keeping Valuable Customers”
George S. Day, Wharton School, University of Pennsylvania
26. Market Awareness
Signals
Political, Economic, Societal,
and Technological (termed P.E.S.T.)
Trends
Market influences informed
by a set of signals
Drivers
Market trends matched with
commercial opportunities
27. Not Planned
Serendipity
• Understand your position in the market
• Read and bundle your market signals
• Prioritize signals with greatest impact on your
business
EMPOWER your people
to be
TREND TRACKERS
and
OPPORTUNITY SEEKERS
29. We are experiencing an information explosion
29
Volume
15 petabytes a day
of new information
Variety
80% of new data growth
is unstructured content
Velocity
Every 1,000 employees
$5.3 million a year is spent
to find information
stored on company servers.
42% of managers
use wrong information at least
once per week.
30. Current Approach
• Buy market reports
• Do it manually
• Do nothing
But….
• Out-of-date
• Slow
• Expensive
• Generic
So, what is the answer?
Must access and manage “Big Data”
The next frontier for
managing innovation,
gaining a competitive edge, and
creating productive organizations
This enables situational awareness and
open collaboration across the enterprise
31. What have we
learned so far?
We can manage innovation
We can recognize market signals
We have the data
SO WHAT’S NEXT?
34. Establish
INNOVATIVE Behaviors
• Being decision ready
• Actively spanning boundaries
• Knowing what’s on the fringe
• Thinking out-of-the-office
…. And guess what?
new competencies
will emerge
38. “Is THIS the line
you’re telling me
NOT to cross?”
39. Business Functions
Must Adapt, But How?
– Map drivers to business functions
– Identify functions that need to adapt
– Estimate resources and time needed
– Prioritize business function changes
- “Master”
- “Partner”
- “Maintain”
- “Shed”
Managing Disruptive Innovation
http://execseries.mgt.ncsu.edu
42. Build a bridge between existing
“gaps”
Current capabilities
of the organization.
Desired new state of
a Business Function.
43. INNOVATION
Management At Work
SHAWN GALLAGHER, Eisai, Inc.
Sr. Director Outsourcing Operations
• The pharmaceutical industry is undergoing disruptive change
• Eisai responded by embedding innovation across the enterprise
• We started somewhere – a business function
• Today we have a common language and plan
• Building a culture of innovation
• On the path to accessing and managing “Big Data”
44. POLL RESULTS
Where do you stand?
• % drive the market
• % in touch with the market
• % too busy and don’t have time
45. Harnessing
INNOVATION
• Innovation can be managed.
– Taught, learned, measured, improved
• Market signals must be addressed
• A culture of innovation is essential
• Innovation may mean business model transformation
46. INNOVATION Management:
What We Know
• Years of research and proven methodologies
• Over 15 assessments that provide meaningful results
• Managing innovation is a process you can control
• Start somewhere – choose a business function
Build a culture of
INNOVATION
everyone WINS!
47. Want More
INFORMATION?
Bring us your biggest business challenge.
Put one of our assessments to work for you.
Contact us: http://execed.mgt.ncsu.edu or 919-515-4445
Download free article on Big Data Analytics Platform
Presentation available on trainingindustry.com
Type in the search box: on demand
Custom programs and Innovation Management Exec Series
48. Questions
Dr. Richard Kouri
richard_kouri@ncsu.edu
Ms. Lee Clark-Sellers
klclarks@ncsu.edu
Mr. Paul Mugge
paul_mugge@ncsu.edu
Mr. Shawn Gallagher
shawn_gallagher@eisai.com
Contact us: http://execed.mgt.ncsu.edu or 919-515-4445ee