Craig Rispin @ CEO Institute 29 January 2016
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Transcript of Craig Rispin @ CEO Institute 29 January 2016
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Craig Rispin CSP
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“Innovation is optional -
but so is survival.”
-Jack Welch
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Let’s Start the Conversation About
WHY You Have to Innovate...
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Because Your New Competitor Isn’t
Waiting to Innovate
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A.T. Kearney Studied Why Strategic Plans
Tends to Fail...
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Strategy Formulation What Goes Wrong?
Lack of Understanding of Future Trends (88%)
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Did You Know - That in 2028?
Video & Discussion
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Discuss with a Partner:
What Did You Find Most Interesting in the Video?
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Technology Changes Exponentially
People Think Linearly
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Exponential Organizations are Leveraging These
Trends to Innovate
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147 Startups are Valued at More Than
$1 Billion
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Uber - World’s Largest Taxi Company, Owns No Vehicles
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Airbnb - World’s Largest Accommodation Provider, Owns No Real Estate
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Facebook - World’s Most Popular Media Owner, Creates No Content
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Alibaba, The Most ValuableRetailer, Has No Inventory
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Billions of Customers are Having Incredible
Experiences...
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Then They Turn Up at Your Place...
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Doblin’s Ten Types of Innovation
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PROFIT MODELThe way in which you make money
For example, how Netflix turned the video rental industry on its head by implementing a subscription model
NETWORKConnections with others to create value
For example, how Target works with renowned external designers to differentiate itself
STRUCTUREAlignment of your talent and assets
For example, how Whole Foods has built a robust feedback system for internal teams
PROCESSSignature or superior methods for doing your work
For example, how Zara’s “fast fashion“ strategy moves its clothing from sketch to shelf in record time
PRODUCT PERFORMANCEDistinguishing features and functionality
For example, how OXO Good Grips cost a premium but its “universal design” has a loyal following
PRODUCT SYSTEMComplementary products and services
For example, how Nike+ parlayed shoes, sensors, apps and devices into a sport lifestyle suite
SERVICESupport and enhancements that surround your offerings
For example, how “Deliver WOW through service” is Zappos’ #1 internal core value
CHANNELHow your offerings are delivered to customers and users
For example, how Nespresso locks in customers with its useful members only club
BRANDRepresentation of your offerings and business
For example, how Virgin extends its brand into sectors ranging from soft drinks to space travel
CUSTOMER ENGAGEMENTDistinctive interactions you foster
For example, how Wii’s experience draws more from the interactions in the room than on-screen
SIX PRINCIPLES FOR USING THE TEN TYPES EFFECTIVELY
1UNDERSTAND ALL TEN TYPESVirtually all projects can improve just by knowing and deeply understanding the value and subtleties of each of the types.
2DE-EMPHASIZE RELIANCE ON PRODUCTS AND TECHNOLOGYThese are the easiest capabilities for competitors to copy.
3THINK ABOUT CATEGORIES AS WELL AS TYPESConsciously try to imagine new ways to configure assets, build platforms, and foster fresh experiences.
4USE THE TYPES THAT MATTER MOSTUse diagnostics to understand which types you and others in your industry tend to overlook.
5UNDERSTAND WHAT YOUR USERS REALLY NEEDUser research can help you know what is relevant to customers and what surprises other types might help to deliver.
6USE ENOUGH OF THE TYPES TO MAKE A SPLASHUsing five or more types, integrated with care, is nearly always enough to reinvent a category and become newsworthy.
STRENGTH IN NUMBERS
Simple innovations use one or two types of innovation and every company needs to pursue them. Failure to consistently, relentlessly improve the known is one of the surest routes to failure. Unfortunately, too many firms do only simple innovation. In today’s contested markets, simple innovations alone are never enough for long-term success. They can build a lead on competitors, but they don’t create the firms, brands, or platforms that thrill us.
When a market grows up and gets complicated, it demands more sophisticated innovation, which uses many types of innovation combined elegantly and orchestrated with care. Under the covers, inside your firm, these require working across internal boundaries and silos — challenges that bring additional complexity. You can cut through this with multi-disciplinary teams to bring in the necessary talent and knowledge, and with systems in place to tell everyone how they can tackle tough challenges with curiosity, confidence, and courage.
Naturally, sophisticated innovations are more difficult to pull off, not least because they have longer development horizons than simple innovations. But consider the flip side: once you launch them, they are likely both to delight customers and confound competitors. Often you will be able to succeed with them for years before challengers can catch up. Almost all of the enterprises that we identify as leading innovators routinely use multiple types of innovation — and handily outperform the average firms that innovate more naïvely.
THE TEN TYPES OF INNOVATIONAN OVERVIEW
C O P Y R I G H T © 2 0 1 5 D E L O I T T E D E V E L O P M E N T L L C | A L L R I G H T S R E S E R V E D
CustomerEngagement
Profit Model
Network Structure Process ProductPerformance
ProductSystem
Service Channel Brand
CONFIGURATION OFFERING EXPERIENCE
LEARN MORE ABOUT THE TEN TYPES OF INNOVATION Doblin’s book, tactics cards and app can help you innovate your way to meaningful and sustainable growth.www.doblin.com/tentypes
The Ten Types framework is structured into three color-coded categories. The types on the left side of the framework are the most internally focused and distant from customers; as you move toward the right side, the types become increasingly apparent and obvious to end users. To use a theatrical metaphor, the left of the framework is backstage; the right is onstage.
The Ten Types framework is simple and intuitive. It is a useful tool you can use both to diagnose and enrich an innovation you’re working on, or to analyze existing competition. It makes it especially easy to spot errors of omission — missing dimensions that will make a concept stronger.
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Craig Rispin CSP
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Extra Slides
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