1. 1. Navigating Innovation in the Connected Economy Kirsten Kuehl World Innovation Convention Cannes, France
2. 2. Overview Corporate Innovation Opportunities and Obstacles Disruption Factors in Business Transformation Advice for Innovators and Calls to Action
3. 3. ENGAGE THE CROWDS!!!!! Set the Course to Avoid the Obstacles Source Obstacles: Frank Pillar Insufficient Resources Lack of Internal Commitment Org & Admin Barriers Communications Barriers Workflow Rigidity Not Invented HereLegal Barriers Bottoms Up Mgmt Only 1 in 4 new product development efforts will reach commercial launch -Product Development & Mgmt Association (PDMA)
4. 4. Striking the Balance for Success Legal Considerations Risk Taking and Experimentation Profitability Considerations Investment toward R&D Product Release Schedules Time for Innovation/Slow Hunch Internal Focus Ecosystem/Collaboration Focus Existing Business Innovation Short Term Business Objectives Threat of Cannibalization
5. 5. Striking the Balance for Success Decentralized in Organization Executive Priority and Support Complete Brand Control Engaging Customers/Partners Business Model Best Practices Empowering Crowd/New Methods Org Obstacles/Political Factors Org Alignment & Socialization Existing Business Innovation
6. 6. Corporate Innovation Realities we may be unable to foster the innovation, creativity, and teamwork. . . . Our transition from a private company to a public company may result in a change which could harm our business. Source: Fast Company, October 2013
7. 7. Traditional Businesses Getting Left Behind
8. 8. Navigational Map for Current Business Transformation The Crowds New Funding Models Collaborative Ecosystem Sharing Economy Maker Movement Disruption Factors
9. 9. The Wave of Crowds have Arrived Whats Possible with The Crowds? 300 105 - thematthewaaronshow.com Customers engaged in a community produce 19% higher revenue Source: Study University of Michigan
10. 10. Why crowdsourcing firms see gold in mobile app ideas August 3, 2012 | By Shane Schick Crowdsourcing has been picking up steam in the mobile app space ever since Nokia introduced its IdeasProject portal. Increase in Community Driven Apps
11. 11. Nielsen: 92% of consumers trust word of mouth From Apps to Co-Creation to Marketplaces McKinsey: up to 696B Euro annually influenced by social
12. 12. Entries: 6,200 entries, > 2,800 designers, >70 countries Likes: 166,000; Shares: 124,000 Visitors at nokiatune.audiodraft.com: 1.7M Entries played on nokiatune.audiodraft.com: 13.5M Community Created Ring Tones http://nokiatune.audiodraft.com
13. 13. The Maker Movement To those who think the maker movement is about tinkerers in their garage making things that are meaningful for them but not high-value, high-volume that people are going to want, think again. - Lou Rassey, Principal McKinsey
14. 14. Community Created Design
15. 15. Empowered Consumer: Custom Mobile
16. 16. Empowered Consumer: Custom Mobile
17. 17. Solving the Headset Problem
18. 18. Press Recognized Innovation
19. 19. Shifting Corporate Tides The elitesor managers in companiesno longer control the conversation. This is how insurrections start. This isnt just about Arab spring. This is about corporate spring. -Marc Benioff, CEO, Salesforce.com The only constant is change. Companies that do not change get left behind. John Chambers, CEO, Cisco *Source: Gartner Nexus of Forces Social Mobile Cloud Information Digital Enterprise* Crowd Influence If you have a problem, take it to the Internet to solve. Eric Schmidt
20. 20. Ripple Effect with the Consumer Listen, Learn & Pilot Engage Personalization & Customization Makers & Marketplaces Net Promoter Score Burberry: Art of the Trench Nikon @ SXSW RED Involve Advocates & Champions Uber Nike Fuel Band British Air Inno Lab In the Sky Moto X Nike Coke Freestyle Dodge Dart Campaign Zazzy Quirky Etsy Autodesk Instructables
21. 21. Wave of New Funding Models Increasing access to capital for entrepreneurs. Start up to scoop up. The benefits of meeting demand. Moving from perks to profit. Crowdfunding refines business planning, market validation and time to market. Million dollar hardware projects. Ubuntu Edge: 9.6M Euro >25K contributors
22. 22. The Start Up Disrupt - Learning to Share
23. 23. Crowd Driving Corporate Realities General Motors
24. 24. Communities Driving Unexpected Partnerships
25. 25. Old Monopolistic Institution Meets High Tech Now Delivering on Sundays!!!
26. 26. Changing Tides: Collaborative Ecosystems lkjlkjl Understanding the power of communities, personas of members, their expectations, their aspirations and how to engage with them essential skills for companies in the 21st century. -Gartner
27. 27. Effectively Navigate Transformation by Building New Revenue Streams The Crowds New Funding Models Collaborative Ecosystem Sharing Economy Maker Movement Disruption Factors
28. 28. Be Brave, Bold & Have Big Goals as you Navigate the New Economy Increase Revenue by Taking 20% of Marketplace Transactions Evaluate Ecosystem Partners and Connect Partner with the Experienced in the Collaboration Economy Stay the Course - Advice for Innovators SHO-0234-2DA-6N Join a Group of Brands to Collaborate and Establish Shared Value Leverage the Crowds: Outsource or Engage with Consumers
29. 29. Leverage the Crowds: Outsourcing a Piece of Repeatable Business Tasks or Engage with Consumers in Guided Brand Activities Join a Group of Brands to Collaborate and Establish Combined Value Partner with an Experienced Veteran in the Collaborative Economy to Help Guide Business Decisions, Tools and Launch Initiatives Evaluate the Ecosystem of Partners, Connect and Collaborate Deliver Business Results by Increasing Revenue through New Business Models Be Brave, Bold and Have Big Goals as you Navigate the New Economy Advice for Innovators
30. 30. MerciThank you Kirsten Kuehl World Innovation Convention Mobile: + 1 415 279-5964 Email: kirsten.kuehl@outlook.com www.linkedin.com/in/kirstenkuehl/
31. 31. Credits, Research Input, SourcesResearch Reports: McKinsey, Gartner, Altimeter Group, Frost and Sullivan, Parks Associates, Nielson, Cisco IoE Report Papers, Discussions, Diagrams: Kuhan Milroy, SAP; Slava Rubin, Indiegogo; Liz Wald, Indiegogo; David Allen Grier, President IEE; Dion Hinchcliff, ZDNet; Frank Pillar for Obstacles to Innovation List from MIX paper; Jeremiah Owyang, Crowd Companies; Lucas Biewald, Crowdflower; Sydney Armani, CrowdFund Beat; Suzan Briganti, Totem; BlueFountain When She Speaks Panel: Monique Morrow, Cisco, Daniela Busse, Samsung; Karen Catlin, CEO, Athentica; Athena Maikish, PhD, StubHub Articles Referenced: McKinsey http://www.mckinsey.com/insights/marketing_sales/five_no_regrets_moves_for_superior_customer_engagement http://digitalinnovationtoday.com/word-of-mouth-still-most-trusted-resource-says-nielsen-implications-for-social-commerce/ http://www.mckinsey.com/insights/consumer_and_retail/how_retailers_can_keep_up_with_consumers Intel/Autodesk/TechShop /Arduino http://www.anandtech.com/show/7387/intel-announces-galileo-quark-based-arduino-compatible-developer-board http://gigaom.com/2013/10/10/intel-steps-up-to-help-techshop-fund-its-menlo-park-location-move/ http://www.fastcompany.com/section/most-innovative-companies-2013 http://www.huffingtonpost.com/2013/05/29/robert-scoble-google-glass_n_3354956.html?utm_hp_ref=influencers-and-innovation http://www.fastcompany.com/section/most-innovative-companies-2013 http://www.innovationmanagement.se/2013/10/03/live-web-event-taking-open-innovation-management-one-level-up/ http://www.fastcompany.com/3019901/nike-ceo-hints-at-collaborative-future-for-fuelband http://crowdfundbeat.com/crowdfunding-index/ http://www.wired.com/insights/2013/08/innovation-culture-and-social-technologies-getting-real-work-done/ http://www.mixprize.org/story/unleashing-inclusive-innovation http://www.innovationmanagement.se/2013/09/19/an-industrial-process-for-driving-innovation-and-start-ups/ http://www.mixprize.org/hack/global-solutions-local-failure-overcoming-barriers-implementing-open-innovation http://www.altimetergroup.com/2013/04/four-disruption-themes-for-business.html http://www.wired.com/insights/2013/10/why-crowdsourcing-is-the-next-cloud- computing/?utm_content=buffer499c4&utm_source=buffer&utm_medium=twitter&utm_campaign=Buffer#! http://www.kickstarter.com/projects/mymobilerobots/rk-1-a-wifi-arduino-mobile-robot-for-ios-and-andro?play=1&ref=search http://www.indiegogo.com/projects/gecko-make-your-smart-phone-smarter http://www.kickstarter.com/projects/juicetank/juicetank-the-first-ever-iphone-charger-and-case-i?ref=search http://www.newyorker.com/reporting/2013/07/29/130729fa_fact_gawande?currentPage=all http://www.tlnt.com/2013/02/26/how-google-is-using-people-analytics-to-completely-reinvent-hr/ http://www.digitaltrends.com/mobile/samsungs-shotgun-phone-strategy/ http://www.huffingtonpost.com/2013/05/21/digital-camera-inventor-kodak-bankruptcy_n_3315622.html http://www.fastcompany.com/3004790/stanford-study-claims-ipos-stifle-startups-innovation-chops http://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2011/Oct/1005_relay.html http://www.indiegogo.com/projects/piper-smart-elegant-security-and-home-automation http://www.kickstarter.com/projects/search?page=1&term=mobile+phones&utf8=%E2%9C%93 http://www.pwc.com/gx/en/innovationsurvey/index.jhtml http://www.indiegogo.com/projects/y55-happiness-trainer-your-must-have-mobile-app http://www.indiegogo.com/projects/idoorcam-answer-door-from-mobile-device http://www.innovationmanagement.se/mailchimpforms/channel-one/MOOI-october-30.php http://www.theatlantic.com/technology/archive/2013/09/if-this-toaster-could-talk/ http://www.forbes.com/sites/techonomy/2011/09/07/social-power-and-the-coming-corporate-revolution/2/ http://www.content-loop.com/the-top-7-social-media-marketing-trends-that-will-dominate-2014/#!