Digital Age Transformation: Building a High-performing Innovation Engine

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Transcript of Digital Age Transformation: Building a High-performing Innovation Engine

  • | Copyright 2015 Tata Consultancy Services Limited

    Digital Age Transformation: Building a

    High-performing Innovation Engine

    Consulting and Enterprise Solutions

  • Build an Innovation Engine

    What resources

    do you need to deliver meaningful

    outcomes?

    What are the

    business practices of successful

    innovators?

    What should your

    innovation strategy be?

    How can you

    make innovation an always-on

    process, rather

    than a one-off event?

  • Barriers to Innovation

    Non-aligned

    innovation and corporate strategies

    Ineffective

    organizational structure

    Outdated culture and

    inability to take risks

    Limited focus on the

    back-end of innovation

    Lack of iterative,

    user-centric design orientation

    Inadequate

    measurement

  • Ideation:

    Cultivate insights and generate ideas

    The Innovation Cycle

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    Experimentation:

    Rapidly and iteratively prototype, simulate, and

    test

    Monetization:

    Pilot and scale innovations

    Portfolio

    Management: Optimize

    investment in

    innovation

    Strategy Formulation:

    Articulate goals and guardrails

    http://on.tcs.com/25zeWGghttp://ctt.ec/q43jf

  • Innovation Management Capabilities

    1. Leadership and

    Governance: Aligned, engaged,

    and committed cross-

    enterprise executives

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    2. Measurement and

    Tracking: Employ balanced

    scorecard of leading

    and lagging indicators across lifecycle

    3. Talent and Culture:

    Optimize competency development and

    institutionalize a

    culture of innovation

    http://on.tcs.com/25zeWGghttp://ctt.ec/04UfO

  • Innovation Management Capabilities

    4. Allies and Partners: Accelerate and enhance

    innovation-driven outcomes

    through ecosystem collaborations

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    5. Enablers and Infrastructure: Leverage innovation lifecycle

    management platforms and

    capability enhancement solutions

    http://on.tcs.com/25zeWGghttp://ctt.ec/ymMnF

  • Read More

    Four Innovation Strategy Archetypes

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    Technology Innovation

    (degree of departure from existing technologies)

    Market Innovation(degree of departure from existing

    customers/markets)

    Stakeholder Innovation

    (degree of departure from existing

    allies/partners)

    http://on.tcs.com/25zeWGghttp://ctt.ec/XN86e

  • Maintain customer satisfaction and profitability

    by improving offerings and capabilities

    The Optimizer

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    Derivative or incremental

    Use existing or improved technologies

    Employees interact with existing customers

    and markets

    Outside-in open innovation, licensing, and

    selective co-innovation with suppliers and strategic partners

    Innovation Bias

    Technology Strategy

    Market Interaction

    Ecosystem Emphasis

    Focus

    http://on.tcs.com/25zeWGghttp://ctt.ec/Ipda2

  • Invest in new technologies to refresh

    offerings and capabilities

    The Explorer

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    Adjacent

    Use radically new technologies

    Employees complemented by external

    innovation providers with existing customers and markets

    Outside-in open innovation and co-innovation

    with research organizations and emerging technology companies

    Innovation Bias

    Technology Strategy

    Market Interaction

    Ecosystem Emphasis

    Focus

    http://on.tcs.com/25zeWGghttp://ctt.ec/2M7AZ

  • Reach new customers and create new

    markets

    The Transformer

    Adjacent

    Use existing or improved technologies

    Employees complemented by value chain

    partners with new customers and markets

    Inside-out open innovation and co-innovation

    with customers, suppliers, partners, and companies in other industries

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    Innovation Bias

    Technology Strategy

    Market Interaction

    Ecosystem Emphasis

    Focus

    http://on.tcs.com/25zeWGghttp://ctt.ec/d3eyS

  • Displace competitors in markets new to the

    company and/or create new industries

    The Revolutionary

    Breakthrough and disruptive

    Use radically new technologies

    Employees complemented by external

    innovation partners and supply chain partners with new customers and markets

    Outside-in and inside-out open innovation and

    co-innovation with customers, suppliers, competitors, companies in other industries,

    and startups

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    Innovation Bias

    Technology Strategy

    Market Interaction

    Ecosystem Emphasis

    Focus

    http://on.tcs.com/25zeWGghttp://ctt.ec/WxAB8

  • Start Your Innovation Engine

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    To survive in the digital age, enterprises will have to

    transform quickly

    You need to generate new ideas for products, services,

    business models, and customer experiences rapidly and convert these ideas to realize meaningful value

    Institutionalizing the right innovation management

    capability is essential and begins with understanding what you seek to achieve through innovation

    http://on.tcs.com/25zeWGghttp://ctt.ec/WR14B

  • 13Copyright 2016 Tata Consultancy Services Limited

    Digital Age Transformation: Building a High-performing Innovation Engine

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