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Developing and Managing a Successful Innovation Strategy. Effective Innovation Strategies Answer Three Key Questions:. How will we Create value?. How will we Capture value?. How will we Deliver value?. Reasons to have an innovation strategy: 1. To make choices.

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Presentation Transcript
effective innovation strategies answer three key questions
Effective Innovation Strategies AnswerThree Key Questions:

How will we

Create value?

How will we

Capture value?

How will we

Deliver value?

overcommitment destroys productivity
Overcommitment destroysproductivity

Average

Value-Added

Time on

Engineering

Tasks

Number of Projects per

Engineer

the s curve maps major transitions
The S-curve Maps Major Transitions

Maturity

Performance

Discontinuity

Takeoff

Ferment

Time

transitions are hard
Transitions are hard!
  • Answers to the key strategic questions:
    • How do we create value?
    • How do we capture value?
    • How do we deliver value?
  • CHANGE!
a map of the course
A map of the course….

Technology

Competition

Markets

Organization

Maturity

Takeoff

Ferment

the nature of technical work changes
The nature of technical work changes

Performance

We need to be

responsive & flexible

but controlled

Will it work?

Exploration, fun,

creativity key

Can we make

100,000?

And service them?

Will it work?

Exploration, fun,

creativity key

Time

the marketing challenge evolves
The marketing challenge evolves

Performance

Stay close to your

customer – really close

Who

needs this?

Do we have

any reference

customers?

Who

needs this?

Time

uniqueness complementary assets over the life cycle
Uniqueness & Complementary Assetsover the Life Cycle:

Uniqueness

Complementary

Assets

Maturity

Takeoff

Ferment

the ways in which a firm captures value also evolve dramatically
The ways in which a firm captures value alsoevolve dramatically

Performance

We may not be leading edge

but you’d rather buy

from us because…

Speed, IP

Differentiation,

Frontier performance key

We can sell it,

make it,

service it, ship it

Most of the time

Speed, IP

Differentiation,

Frontier performance key

Time

the s curve maps major transitions18
The S-curve Maps Major Transitions

Performance

Maturity

Growth?

Takeoff

Ferment

Time

change challenges every aspect of an organization
Change challenges every aspect of anorganization

Leadership

& Strategy

Structure &

Process

Incentives

Culture &

Mental Models

but strategically growth must build on existing assets
But strategically, growth must build onexisting assets…

Uniqueness

Complementary

Assets

Maturity

Takeoff

Ferment

the organizational challenge
The Organizational Challenge:

Successful growth unites

entrepreneurial insight with

effective coordination

Entrepreneurial

Drive,

Freedom from

the “old ways”

Startups

BasU

Control & Coordination

problems in recognition problems in strategy
Problems in Recognition(problems in strategy?)
  • Growth opportunities do not arrive with labels on them
  • Forecasting the future of technology is hard
  • Forecasting customer needs and market demands is even harder
  • Growth opportunities often look less profitable than the current business
  • Deep rooted mental models may make even “easy” recognition difficult
some discontinuities will pose harder problems than others
Some discontinuities will pose harderproblems than others:

New needs

Higher margins

Lower margins

Old needs

but then they improved sufficiently to take the whole market
But then they improved sufficiently totake the whole market
  • Fear of Cannibalization
  • Time horizons & Incentives
  • Overload
  • Competency Traps
what can be done26
What can be done?
  • Lead
  • Structure
  • Incent
  • Transform the culture & mental models
where we go next
Where we go next:
  • Dealing with discontinuities:
    • Synthes
    • Allied Chemical
    • Donnelley
    • Xerox Technology Ventures
    • Corporate ventures @ Procter & Gamble
    • Ciba Geigy/Alza
  • The mechanics of doing strategy
    • Medtronics
    • Kirkham Instruments
  • Pulling it all together
    • Kodak
    • Nokia