MEASURING AND MANAGING INNOVATION –

INNOVATION AT STRATEGIC LEVEL

TORFI TH. THORSTEINSSON

RESOURCES

700 Employees

Ground fish 50.000 MT

Pelagic 150.000 MT Total 12% of quota in Icelandic waters

World class customers

Sales in 2010 = 144.8 m€

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The company’s main challenge is to

Create the most value from every fish we catch -

to make the maximum profit for the company and

the community.

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The fleet

Four Pelagic Vessels

The fleet

Five Freezer Trawlers

The fleet

Three Wetfish Trawlers

Processing

Two Ground fish plants

Two Pelagic plants

Two Fish meal factories

Five Freezing trawlers, with production on board

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HB Grandi is committed to supplying products and

rendering services that fulfill the customers’

expectations relating to quality, safety and

reliability.

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Quality policy

Reykjavík - Main offices and freezing plant

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Akranes - Freezing plant and fish meal plant

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Vopnafjörður – Freezing plant for pelagic

fish and fish meal plant

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Marketing

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Participation in trade shows

Own brand HB Grandi stand in Brussels (2011)

Marketing

Customers, Brand, Trade Shows,Marketing Department

Japan

Norway

Germany

UK

Russia

France

Faroe Isl.

Belarus

Belgium

China

USA

Brazil

Ukraine

Poland

Spain

Greece

Turkey

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Innovation

Innovation is, and always has been, essential for

the operation and competitiveness in fishing and

fish production.

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Innovation at HB Grandi

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Innovations in fishing

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Innovations in fish processing

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Pin bone removal machine from Valka

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Pin bone

HB Grandi and Marel

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Innovation Radar at HB Grandi

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Communication

Customer Experience

Solution

Platform Partnership

Channel

Management

Value Capture

Product

Process

Supply chain

Customer Need

The Innovation Radar

Offering Innovation

Customer Innovation

Relationship Innovation

Operations Innovation

Relationship Relational excellence Value amplification

What ? Product leadership

Functional value

How? Operational excellence

Economic value

Who? Customer intimacy

Emotional value

The senior management of HB Grandi participated

in the program

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CEO Eggert Benedikt Guðmundsson

Groundfish Fleet Rúnar Þór Stefánsson

Groundfish Processing Torfi Þ. Þorsteinsson

Pelagic Fish Vilhjálmur Vilhjálmsson

Finance Jónas Guðbjörnsson

Marketing Svavar Svavarsson

What have we done?

We have already completed two Radar Surveys

with a follow up Deep Dive session.

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• The management’s evaluation of the position and focus of the company.

• Variation in the opinions of each of the six directors of the company.

• Comparison with other companies in the fishing industry in Iceland and abroad

• The views of the management about which issues should be emphasized in innovation.

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What have we gained?

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Has this program resulted in new focal points

for innovation in the company?

Where will we go from here ?

This work has been useful so far for HB Grandi,

and the people at the Nordic Innovation Center

have done a great job.

We are also lucky to work with our advisor - Páll

Kr. Pálsson. He has invaluable experience gained

from the industry and from teaching.

We will decide in next few weeks whether, or how,

to continue with this program.

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THANKS!