intertrade ireland challenge programme workshop ii
DESCRIPTION
Slides from Workshop II of the InterTrade Ireland Challenge Programme. Presented inTRANSCRIPT
“achieving ambitious
business growth”
Iain Bruce & Jamie McCallum | Matrix Innovation Team
Agenda
1. Recap Workshop 1
2. Introduction to Highest & Best – Innovation Leadership
3. Core Competence: Identifying your “Innovation Sweet Spot”
4. Growth Aspirations and Growth Strategy
5. Big Opportunities – Changes in Your Environment
6. Idea Engineering
7. Fail Fast & Cheap Action Planning
8. Discussion: Next-stage Assessment
9. Application Thinking Time
recap:
workshop 1
highest & best innovation leadership model
Highest & Best – Innovation Leadership
Business Life Cycle
Be honest about your growth aspirations……
Time
£ / €
(now) 5 Years
Want to get to here?
Normal Incremental
Growth Continues.
Sales stay the same.
Past Future
New and Different
Same Old Stuff
GROWTH PIPELINE
All values are Millions
Sales Today
Sales 3 Years Ago Sales Goal 3 Yrs
Actual Growth 3 Yr Growth Goal
Incremental Incremental
Estimate
Market growth or
"working harder"
Market growth or "working
harder"
£ Raw Value Prob. Net Value Scout
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
£0.00 £0.00
3 Yr Growth Goal £0.00 - Incremental Est. £0.00 - Systemic Est. Net Value £0.00 = Pipeline Gap (Excess) £0.00
25% - Who knows?
Probability Ranges
* List only initiatives with RAW potential for generating at least 10% growth. This standard is key for
small and mid sized companies because 1) it keeps the focus on the big stuff and 2) all ideas have a
"probability" of success thus "shooting high" guarantees a payoff.
90% - Absolute certainty
75% - There are a few unknowns
50% - Odds are good but there are many unknowns
Total Systemic Growth Total Systemic Net Value
Tangib le initiatives or "working smarter"
What we've done to grow Our Growth Pipeline*
Tangib le initiatives or "working smarter"
Actual Growth over 3 Years
Systemic Systemic Estimate
3 Year Growth Goal
exercise: pipeline growth assessment
review: your innovation culture assessment
identifying your innovation “sweet spots”
CAPABILITIES MARKETS
Key Success
Factors
Core Competencies
Capabilities
Tangible
Physical
Financial
Intangible
IP
Technology
Relationships
Quality
Reputation
Human
Skills
Knowledge
Culture
Motivation
Values
Competency Tests:
1. Can anyone from outside the company easily work out how you deliver this capability?
2. Would a major issue arise if a key member of staff left the organisation?
3. Could your competitors copy this capability easily?
4. Does this capability offer long lasting competitive advantage?
vision & objectives
What are your personal drivers? • Secure your retirement?
• Grow the value of the business to sell it?
• Make a better return on your efforts?
• Make more profit now?
• Pass something on to the next generation of the family?
• Provide more secure employment for more people?
• Give something back to society/the community?
• Make the most of your potential?
• Do something no-one else has done?
• Achieve something that no-one else thought was
possible?
• Be remembered?
• Have fun?
1. What are you seeking to be in four years time?
2. What are your economic goals?
3. What products / services will you be delivering?
4. Where will you compete geographically?
5. Who are your customers?
6. What technology will you employ?
7. What are your fundamental values, attitudes and beliefs?
8. What are your major strengths and competitive advantages?
9. What is your desired public image?
10. What are the desires of the key stakeholders in the
business?
11. How many employees will you need to deliver the above?
exercise:
vision
options for growth
NE
W
MA
RK
ET
S
EX
IST
ING
MA
RK
ET
S
EXISTING
PRODUCTS
NEW
PRODUCTS
market
development
market
penetration
unrelated
diversification
product
development
Strategic Questions
Today
Which customers do we serve
today?
Who are our competitors today?
What are our products/markets
today?
What is our basis of differentiation
today?
What skills or capabilities make us
unique today?
Where does value lie today?
In the Future
Which customers will we serve in the
future?
Who will our competitors be in the future?
What will our products/markets be in the
future?
What will the basis of differentiation be in
the future?
What skills or capabilities will make us
unique in the future?
How will we build future value?
NE
W
MA
RK
ET
S
EX
IST
ING
MA
RK
ET
S
EXISTING
PRODUCTS
NEW
PRODUCTS
market
development
market
penetration
unrelated
diversification
product
development
ADAPT Promise & Product
for Mutual Profits
LEAD WOW’s
for Mutual Profits
NEW
Customers
& Markets
CURRENT
Customers
CURRENT
Capabilities
NEW Products
& Services
The Big Opportunities for
SIGNIFICANT PROFIT GROWTH
ADAPT
IMPROVE LEAD
NEW Customers
& Markets
CURRENT Customers
NEW Products
& Services
CURRENT Capabilities
Perpetual Profit Cycle
ADAPT
IMPROVE LEAD
NEW Customers
& Markets
CURRENT Customers
NEW Products
& Services
CURRENT Capabilities
The Perpetual Profit Cycle &
Exercise: Highest & Best – Innovation Leadership
Big Changes
SOCIAL INFLUENCES
TECHNOLOGICAL INFLUENCES
ECONOMIC INFLUENCES
ENVIRONMENTAL INFLUENCES
POLITICAL / LEGAL INFLUENCES
exercise:
Big Changes
idea engineering exercise:
customer problems
First FAIL FAST FAIL CHEAP
Action Plan
next stage:
assessment
Tue 8th November Invest NI
Bedford Street
Belfast
Wed 9th November InterTradeIreland
Newry
Thu 10th November NSAI Standards
1 Swift Square
Northwood
Santry
Dublin 9
Presentation Dates
growth plan
thinking time…
