innovation overview 2013

Innovation:How To Change The World (Or Your Piece Of It)

Kurt BaumbergerChief Innovation OfficermarketSQUARE Worldwide

© MarketSquare Worldwide, LLC. All rights reserved. May not be reproduced or retransmitted without express written consent.

What Is Innovation?

Innovation – Latin combination of in and novare: to make something new, to change.

2© MarketSquare Worldwide, LLC. All rights reserved. May not be reproduced or retransmitted without express written consent.

Novare - ancient northern Italian merchant town at east-west crossroads

If innovation has

been around for

centuries, why is

it so hard today?

Because Not All Innovation Is The Same.

3

Both are Runners, Olympic Athletes, and Champions, but they certainly are NOT the same.

Since you’d never

expect a long-distance

runner to beat a

sprinter in a short race,

why expect day-to-day

operators of your

business to be out-of-

the-box innovators?!


What Are The Different Innovation Types?

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Process Innovation–Improving the way you create and deliver the product or service

Marketing Innovation – Who you sell to and the story you tell about it.

Solution Innovation –The product or service you offer to the world

Business Model Innovation –The way you organize people, processes, and technology

99% companies can ONLY innovate processes…for everything else you need a Subject Matter Expert (SME) partner.


Six Ways Companies Kill Innovation (without even trying)

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Company Resource

Constraints

Cross-Functional Team

Constraints

Individual Capability

Constraints

IndustryConstraints

SocietalConstraints

TechnicalConstraints Fortunately, most

constraints can be

overcome with the

right people,

proven processes,

and agile

technology…

Hard To SolveEasy To Solve


Big Problem

Small Problem

Without Proper Guidance, This Happens.

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THIS IS THE BEST IDEA EVER!

OK, THIS IS HARDER THAN I THOUGHT

YEP, THIS IS GONNA TAKE SOME WORK

THIS SUCKS – AND IT’S BORING

(THE DARK NIGHT OF THE SOUL)

IT WILL BE GOOD TO FINISH BECAUSE I’LL LEARN

SOMETHING FOR NEXT TIME

IT’S DONE AND IT SUCKS, BUT IT WASN’T GONNA WORK ANYWAY

How many times have you seen this?

Once? Twice? A dozen times? More?


Start With This Self-Assessment…

NO• Do you have a clear system for choosing innovation projects? ☐

• Does everyone know how to take a good idea forward? ☐

• Do you balance your portfolio with low and high risk projects? ☐

• Can you balance “do better” and “do different” innovation? ☐

• Do you spend time working outside the box? ☐

• Do you have an trusted outside innovation team? ☐

• Do you have a system to handle off-center, but interesting ideas? ☐

• Do you have a structure for corporate venturing? ☐

8

If you checked

“NO” to 3+

items, get some

help!


Because The Definition of Insanity Is…

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“Doing the same thing over and over again and expecting different results.”
