INNOVATIONSby Oscar Omegna

Innovative CultureMany companies make incremental improvements to their products, processes and operations. However only a few succeed in creating an innovative culture that generate new ways to improve operations, reshape existing processes and create new products

An Innovations Model

Model from Innosight LLC

Value propositionA product that helps customers to more

effectively, conveniently, and

affordably do a job they’ve been trying

to do

ResourcesPeople, technology, products, facilities,

equipments, brands, and cash that are

required to deliver this value

proposition to the targeted customers

Profit formulaAssets and fixed cost

structure, the margins and velocity

required to cover them

ProcessesWays of working

together to address recurrent tasks in a

consistent way: training,

development, manufacturing,

budgeting, planning, etc..

Priorities Capabilities

How to start a change1. Plan

a. Build a plan

b. Launch a plan

2. Get those Ideas !!

a. Capture Ideas

b. Prioritise

c. Track against business goals

d. Build a team around it

3. Refine (the ideas)a. Crowd Selectb. Estimate c. Presentd. Fund

4. Execute (the ideas)e. Do

f. Report

g. Adapt

1. Plan

“Innovation has nothing to do with how many R&D dollars you have. … It’s about the people you have, how you’re led and how much you get it.” -Steve Jobs

● Build it ● Launch it

Build it !Plan to collect ideas and turn them into value propositions

Plan pillars● Impact : Internal customers , contractors, team members to final customer. Focus on processes,

products and innovations that improve the experience in a way to have the biggest impact on the

enterprise.

● Direction : Set Goals that align to the overall enterprise strategy. Don’t set generic goals or

templates and assume they will work for your organisation. What works for some may not work for

others, and there is nothing wrong with that.

● Balance : When Planning ahead remember to balance current or past innovations and

improvements . Be aware of the resources to maintain those changes.

● Goals : Set the goals for your plan, what will your plan accomplish ?

● Determine : Management , stakeholder, personal, resources and budget to make it happen !!

Some things to consider

Incremental Changes

● 70% of Innovations efforts focus on core/incremental change*

● Incremental changes return of investment average is 10%*

Transformative Changes

● 10% of Innovation efforts focus on transformational change*

● Transformational changes return of investment average is 70%*

*Harvard Business Review Statistics 2016

Incremental and Transformative

…...or Disruptive

Beware and expect

Roadblocks

Potential Roadblock

● Value proposition not clear ● “if it's not broke, don't fix it” mentality● Seasonal Impact in your industry ● Economic changes ● Political events ● Resistant to change ● Organisation competing priorities● Lack of engagement

And more

Launch it !To transform your plan into actions

Promote your plan to all Stakeholders

● Build a high level pitch ● Purpose, Approach, Model● Be available to answer questions● Involve everyone● Create transparent and collaborative

environment

Use available technologies solutions to your

Advantage

Some options out there …

Communications● Slack● Hipchat

Ideas log● Brightideas ● Sipigit

Enterprise Social Network● Yammer ● Workplace by Facebook

Stand alone Project Management● Asana● Trello

And many more….

2. Get those Ideas !!

“Ideas come from curiosity”-Walt Disney

● Capture Ideas ● Prioritise ● Track against business goals● Build a team around it

Get those Ideas…

…Capture Ideas…

Ideation (Ideas Generation)

● Receive and register all ideas (log)

● Publish. share, communicate and discuss

● Connect similar ideas and opportunities

…Prioritise...

Sort

● Incremental

● Transformative

● Disruptive

Prioritise

● Impact

● Cost

● Benefit

…(strategic)innovation

business goals...

Strengthening

A strong core

business start with

first class products

and services.

Grow

People, technology,

facilities and

equipment to deliver

products and services

to grow target

markets

Digitalisation

Focus in the customer

(internal & external)

and the velocity of

delivery

Technology

Regardless of the

starting point.. Aim to

lead in technology

Priorities Capabilities

…build a balanced team

around it .

Leadership

A person can turn a

plan into coherent

outcomes

Experience

Advisors, subject

matter expers

Culture

Translate plans into a

sensitive way to see

the world

Technical

People with the niche

or specific skill set

Priorities Capabilities

3. Refine

“No idea is so outlandish that it should not be considered”-Winston Churchill

● Crowd Select● Estimate ● Present● Fund (Money and Resources)

Select ideas in collaboration and refine them to become innovations

Share, communicate and vote.Crowd Select the starting ideas

Crowd Selection

● Transparent ideas log

● What ideas are tracking more attention

● What ideas are generating conversations

● Impact

● Cost

● Benefit

An easy way to estimate

Sell each idea like a Startup fighting for funds!

Problem

Clearly define the

problem

Return

Why should the idea

be funded and what

would it deliver

(bang for buck)

Solution

Clearly defined

solution

Team

What and why the

team is perfect for the

execution

Priorities Capabilities

Once ideas are funded the execution begins

● Impact○ Keep all stakeholders informed ○ Maintain flow of ideas and feedback

● Cost○ Resources

■ Keep track of all resources ■ Invest in the right equipment for

each task■ Be lean

○ Techology■ Keep up to date ■ Lead the use of it ■ Show other the benefits

○ Time■ Milestones ■ Deliverables ■ Recorded roadblocks

● Benefits○ On each deliverable quantify benefits○ Record savings, growth, findings,

productivity improvements, new innovations, and more..

Keynotes

4. Execute● Do● Report● Adapt

Execute, iterate, re-invent.

To DO is when an idea becomes an innovation

Build, Design or Develop fast...

● Minimal Viable Product or Process (MVP)

● Challenge it

● Implement it

Record and acknowledge challenges

● Receive feedback, and suggestions

● Define the challenges

● Measure and Analyse them

Rebuild, Re-Design, Redevelop

● Implement new finding to your MVP

● Implement it again

This wheel may spin a few times….

Report to record the journey

Idea

Always remember the

original idea and

vision

Challenges

People, technology,

facilities, equipment

and others. How dealt

with and overcome

Status

Be clear and

transparent on stags

of the process and

track outcomes

Results

Focus on how it’s

benefiting the

customers (internal &

external)

Priorities Capabilities

Changes happen, don’t stop

ADAPT

● Be aware of potential changes

● Be ready to re-invent

● Embrace the challenge

● Communicate with your team

DON’T PANIC

IMPROVEUNDERSTAND LEARN

Thanks !

This presentation is to be used, abuse, criticise, challenge, ignore….