OISM 2012 - Open Innovation and Social Media, Amsterdam, Oct 10, 2012

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This document discusses how social media can help corporate innovators and entrepreneurs. It outlines how social media can [1] connect companies to innovation partners and ideas, [2] provide market and competitor insights, and [3] promote corporate innovation capabilities. The document advises setting up social media platforms and channels, developing content strategies, and sharing content to benefit from open innovation. It notes that direction, training, and courage are needed to leverage social media for innovation.

Business

Social Media for Corporate
Innovators and Entrepreneurs
- Add Power to Your Innovation Efforts

www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
stefanlindegaard@me.com
Twitter: @lindegaard

Hey! Freebookson 15inno.com!

We have no choice!

Innovation is about connecting the dots

Social media is about connecting the dots

…tools, services and platforms that drive virtual
interaction and involvement for innovation efforts

Communities, idea platforms, Twitter and LinkedIn

Go beyond customer service, marketing, B2C!

Identify and interact with innovation partners

Generate more ideas, faster

Get market and competitor insights

Promote corporate innovation capabilities

Same key issues (strategy, org, people)

Growing knowledge pool

Everyone benefits from tech development

Less innovation experience

More constraints

Citizens different than customers, consumers

Whirlpool, GSK on LinkedIn

SAP, IBM and Psion tap into communities

GE got valuable insights with Ecomagination

Sanofi-Aventis got 4-5 years of ideas in six months

media are key drivers forChanger for Innovation
Social Media: A Game o

Change how we innovate

Be competitively unpredictable

Develop the right conditions and framework

Communities – new perception / apps?

What’s in it for me?

Purpose is not defined

Too many digital visitors; few residents

No proven first-mover effect, more Qs than As

Benefit today
No benefit today, BUT
future expectations
No benefit today, AND
no future expectations Innovation (R&D, product & process development)
Do not know In which ways has your organization benefited from the
use of social media? (external focus)
Increased feedback and inspiration to
product- and process development with
customers and external partners

Improved market insights, trends,
technology development, competitor
initiatives etc.
The open innovation process has a
positive impact on the market – before
marketing and sales

Improved access to cooperation with
external innovation partners

Faster development cycles related to the
development of new products and
processes

Credit:SocialSemantic.eu

Researchers

Communicators (writers, but not corpcomm!)

Networkers and speakers (real world)

Digital natives

Identify your focus area, develop content strategy

Set up your platform and channels

Become a curator, start sharing

Track, improve, expand, experiment - iterate

Direction, training, time – and courage to
leave comfort zone, experiment, be visionary!

Get in touch!

www.15inno.com
15inno by Stefan Lindegaard at LinkedIn Groups
stefanlindegaard@me.com
Twitter: @lindegaard

Hey! Freebookson 15inno.com!

Panelists Janet Wenzel, Social Media Manager, Consumer Division at Dell; Shawn O’Keefe, Interactive Programming, South by Southwest (SXSW); Brett Andrews, Vice President of Business Development, Pluck; Katie Cook, Marketing Communications Manager, Austin Convention & Visitors Bureau; and Stephen Nold, Advon Technologies, present how the Hospitality industry could and should harness the power of social media solutions. Learn how Dell has designed an experiential marketing campaign designed to go to their customers and participate on their terms. See how SXSW continues to enhance community interactions. Hear real examples of shows and suppliers who are combining new media and traditional media efforts to extend and connect with growing digital communities. We’ll cover: • Strategic Social Media Fundamentals  • The Great Marketing Shift • How to Harness the Power • Myths and Hype on Social Media  • The Impact on the Hospitality Industry  • Tangible Success Examples 

Competitively unpredictable: two words that spell the key to success in today’s fast paced, highly competitive business arena. If your company has the ability to consistently outmaneuver the competition in ways they never see coming, then the future is bright. Why is being competitively unpredictable so essential now? One key reason is the ever-shrinking window of opportunity. In the past decades, depending on your industry, you could count on having three or five or even seven years after bringing something new to market to make good money before you needed to come up with the next new thing to keep revenues growing. This is no longer the case. While the pace of innovation used to be fast but still manageable, now the window of opportunity is getting shorter and moving faster so you’re forced to innovate ever faster. One of the best examples is the mobile phone industry where they are now counting in months. Open innovation and business model innovation are key concepts for becoming competitively unpredictable and in this session Stefan Lindegaard shares his views on how companies can embrace these concepts in order to bring better innovation to market faster. Specifically, he provides: • an overview of the current state of innovation and what the future will bring us • examples on how leading-edge companies merge open innovation and business model innovation • insights on why companies must embrace failure for better innovation • insights on how companies can use social media for their innovation efforts

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People are fed up with innovation so we need to tone down the use of the word and the term “innovation” - and we need to ban the term “innovation culture” entirely. This is the radical outset for this session in which Stefan Lindegaard challenges common beliefs on innovation, explain why most companies fail with their efforts to become more “innovative” and share insights on how to build the capabilities that can help companies and organizations survive and prosper in these times of fast change and strong disruption. The key messages: - Focus on corporate transformation and digitalization – or die! - Link your efforts to the challenges of your stakeholders to increase ROI - Work with the unusual suspects; internally as well as externally - Focus on people, people and people – and upgrade their mindset and skills - Learn to communicate better and differently – or fail!

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Here you get the latest of my presentations where I share messages such as: “We need to rethink the term “innovation” and we should drop the term “innovation culture” entirely.” “Four global megatrends drive business today: Everything moves faster, everything will be connected, knowledge is transparent and disruption hits harder and faster.” “Getting ideas and working with them in the early stages is the easier part. The execution is what really matters. We have begun the transition phase.” “The role of the CTO has changed as real value creation no longer is centered around technology or product itself. Services, processes and business models are key. The internal power needs to shift.” “Disruption hits much harder and much faster than ever before. You can’t plan for disruptive or radical innovation, but you can be sure you will be disrupted.” “Don’t talk about innovation. Focus on how you can transform your company based on values, assets, partners, threats and opportunities.” “The organizational structures need to change. They are not build for the upcoming challenges and opportunities and we need to experiment much more on what will work the best for the future of business.” “Strong organizations do four things very well: They listen, adapt, experiment and execute better than their competitors.” “There is no digital strategy. Just strategy in a digital world.” “If you want to change the perception inside your organization, the outside voice is the most important.” “People first, processes next, then ideas. The key for execution is people – don´t focus too much on ideas and projects.” “Discovery – Incubation – Acceleration: Have the right people for the right project at the right time in the right context. Build people pools, not just project pools.” “Strong change teams know they can´t do it by themselves; they become facilitators and integrators. Education is a key objective.” …and a short story that I really like: “A CFO is wary about investing in the training and education of the employees. He asks the CEO: ”What happens if we invest in developing our people and then they leave our company?” The CEO is a bright person and replies: ”What happens if we don’t and they stay?”

Stop talking about innovation!

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As I have recently included some new content in my presentations and sessions, I would like to share these insights with you in the form of an updated presentation deck. Here, I focus on the the following views and messages: - A general state of innovation and what you need to know about it these days - What open innovation is and how it is relevant in the context of big companies and SME´s and startups - What it takes to be successful with innovation today as an individual and as a team When I give talks and sessions, I draw upon a comprehensive set of content which you can look further at www.innovationupgrade.com.

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Here you get a look at my current thoughts on innovation through a presentation that I will give tomorrow at the Turkey Innovation Week, where I am one of the keynote speakers. It is a long talk – 1 hour – so I have compiled lots of content in this presentation. Yes, it might even have too many messages, but I hope the participants at the conference as well as those of you, who are just checking out the presentation, can find some inspiration in it without feeling overloaded with information. Some of the topics I get into are: • The current state of innovation and the global megatrends that impacts it • A definition on open innovation and the benefits that come along with it • Innovation as a career choice – what you need to succeed for this • My perception of innovation in Turkey (not elaborated, just one case) • How intrapreneurship can bring together idea and people management I hope you find it worthwhile your time.

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The People Side of Innovation These days, there is much talk about open innovation, business model innovation and innovation culture. These are important topics, but the most significant element to anything related to innovation will always be people. It is people that make things happen and this is you, your colleagues, your customers and other external partners that you engage with to bring innovation to market. It is not that long ago that a good innovator was considered to be a good engineer or R&D person. However, things have changed big time over the last 5-7 years as the open innovation and business model innovation movements continue to rise while companies have failed to upgrade their innovation capabilities during the financial crisis. In this talk, Stefan Lindegaard will explain the consequences of these changes as he looks into the skills and mindset that are required to be a good innovator in this era of “modern innovation,” which is driven more by openness and business models than internal R&D and patents. The topics include: • 7 critical personal competencies for innovation success • an overview of the types of people and functions you need for a strong innovation team • insights on the key elements for corporate innovation training programs • a view on why some people kill innovation – and how to deal with them

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OISM 2012 - Open Innovation and Social Media, Amsterdam, Oct 10, 2012

1. Social Media for Corporate Innovators and Entrepreneurs - Add Power to Your Innovation Efforts www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Hey! Freebookson 15inno.com!

2. We have no choice! Innovation is about connecting the dots Social media is about connecting the dots

3. …tools, services and platforms that drive virtual interaction and involvement for innovation efforts Communities, idea platforms, Twitter and LinkedIn Go beyond customer service, marketing, B2C!

4. Identify and interact with innovation partners Generate more ideas, faster Get market and competitor insights Promote corporate innovation capabilities

5. Same key issues (strategy, org, people) Growing knowledge pool Everyone benefits from tech development

6. Less innovation experience More constraints Citizens different than customers, consumers

7. Whirlpool, GSK on LinkedIn SAP, IBM and Psion tap into communities GE got valuable insights with Ecomagination Sanofi-Aventis got 4-5 years of ideas in six months

8. media are key drivers forChanger for Innovation Social Media: A Game o

9. Change how we innovate Be competitively unpredictable Develop the right conditions and framework Communities – new perception / apps?

10.

11.

12. What’s in it for me? Purpose is not defined Too many digital visitors; few residents No proven first-mover effect, more Qs than As

13. Benefit today No benefit today, BUT future expectations No benefit today, AND no future expectations Innovation (R&D, product & process development) Do not know In which ways has your organization benefited from the use of social media? (external focus) Increased feedback and inspiration to product- and process development with customers and external partners Improved market insights, trends, technology development, competitor initiatives etc. The open innovation process has a positive impact on the market – before marketing and sales Improved access to cooperation with external innovation partners Faster development cycles related to the development of new products and processes Credit:SocialSemantic.eu

14. Researchers Communicators (writers, but not corpcomm!) Networkers and speakers (real world) Digital natives

15.

16.

17. www.hootsuite.com

18. Identify your focus area, develop content strategy Set up your platform and channels Become a curator, start sharing Track, improve, expand, experiment - iterate

19. Direction, training, time – and courage to leave comfort zone, experiment, be visionary!

20. Get in touch! www.15inno.com 15inno by Stefan Lindegaard at LinkedIn Groups stefanlindegaard@me.com Twitter: @lindegaard Hey! Freebookson 15inno.com!

OISM 2012 - Open Innovation and Social Media, Amsterdam, Oct 10, 2012

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