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Why Open Innovation is Vital, But Difficult…and What to Do About It!
Dr Dave Richards22nd November 2016
+44 (0) 7733 [email protected]/in/drdaverichardswww.facebook.com/drdaveinnovationtwitter: @drdaveinnov8ion
Innovation
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Secret sauces & recipes for leading innovation
The MIT Innovation Lab
Good Idea
Developed
Implemented
Scaled to Potential
Success is elusive……………………
5%
10%
20%
Strategically Successful
…………and failure is costly!
“To double your success rate, double your failure rate!” Tom Watson, founder of IBM © Dr Dave Richards
Great Idea
Commercialized
1%
30%
40%
Low Innovation Success Rates
Organisational Change Initiatives
70% fail
30% succeed
STARTUPS:The majority fail within 5 years.
So, by now you should be really, really depressed!
+44 (0) 7733 [email protected]/in/drdaverichardswww.facebook.com/drdaveinnovationtwitter: @drdaveinnov8ion
The Edge
If you’re not living, learning, leading and loving on the edge, you’re taking up too much space! from “The Seven Sins of Innovation” by Dr Dave Richards
time
focus
Ideas
© Dr Dave Richards
collaborations
marketresearchuser needs
assessment
benchmarking
customer/userengagement
creativity / ideation
lead user research
futures research
competitive analysis
1 + 1 + 1 = 111
time
© Dr Dave Richards
focus
“Only one man in a thousand is a leader of men. The other 999 follow women.”Groucho Marx
time
focus
Ideas
the innovation edge
© Dr Dave Richards
PotentialValue
Creation
The Innovation Zone
The Edge
Politeness is the slow poison of collaboration!Edwin Land
© Dr Dave Richards
Engagement of Diversity / ‘Swirl’
Developmental(and Educational)
Innovation
Service(as Delivery)Innovation
Service(as Product)Innovation
Business ModelInnovation
Process(Functional)Innovation
ProductInnovation
TechnologicalInnovation
Organizational(Structural)Innovation
MarketingInnovation
DeliveryInnovation
ProductionInnovation
Supply ChainInnovation
User-DrivenInnovation
Types of Innovation: © Dr Dave Richards
CustomerEngagementInnovation
BrandInnovation
ChannelInnovation
Network(Open)
Innovation
Profit ModelInnovation
Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive
Innovations
MarcomsInnovation
User Innovation
Developmental(and Educational)
Innovation
Service(as Delivery)Innovation
Service(as Product)Innovation
Business ModelInnovation
Process(Functional)Innovation
ProductInnovation
TechnologicalInnovation
Organizational(Structural)Innovation
MarketingInnovation
DeliveryInnovation
ProductionInnovation
Supply ChainInnovation
User-DrivenInnovation
Types of Innovation: © Dr Dave Richards
CustomerEngagementInnovation
BrandInnovation
ChannelInnovation
Network(Open)
Innovation
Profit ModelInnovation
Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive
Innovations
MarcomsInnovation
User Innovation
Developmental(and Educational)
Innovation
Service(as Delivery)Innovation
Service(as Product)Innovation
Business ModelInnovation
Process(Functional)Innovation
ProductInnovation
TechnologicalInnovation
Organizational(Structural)Innovation
MarketingInnovation
DeliveryInnovation
ProductionInnovation
Supply ChainInnovation
User-DrivenInnovation
Types of Innovation: © Dr Dave Richards
CustomerEngagementInnovation
BrandInnovation
ChannelInnovation
Network(Open)
Innovation
Profit ModelInnovation
Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive
Innovations
MarcomsInnovation
User Innovation
Developmental(and Educational)
Innovation
Service(as Delivery)Innovation
Service(as Product)Innovation
Business ModelInnovation
Process(Functional)Innovation
ProductInnovation
TechnologicalInnovation
Organizational(Structural)Innovation
MarketingInnovation
DeliveryInnovation
ProductionInnovation
Supply ChainInnovation
User-DrivenInnovation
Types of Innovation: © Dr Dave Richards
CustomerEngagementInnovation
BrandInnovation
ChannelInnovation
Network(Open)
Innovation
Profit ModelInnovation
Potentially Applying to Any or All Types:• Collaborative• Incremental• Breakthrough• Sustaining• Disruptive
Innovations
MarcomsInnovation
User Innovation
Strategic Goals of Communication:• Influence | persuade | sell• Inform | educate | elucidate• Market | build value perception / experience
© Dr Dave Richards
“A cynic knows the price of everything, and the value of nothing.”
Oscar Wilde
SMART GOALS• Specific• Measurable• Audacious• Realistic• Time-bound
“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.”
Michelangelo di Lodovico Buonarroti Simoni
THANK YOU!
Powering Innovation!
+44 (0) 7733 [email protected]
linkedin.com/in/drdaverichardswww.facebook.com/drdaveinnovation
twitter: @drdaveinnov8ion
30% Discount Code: PM16THIRTYwhen ordering from Palgrave.com
“The Seven Sins of Innovation elevates the thinking on this crucial subject to the highest level”.Roger Lacey, Chief Strategy Officer, 3M
