Innovation. Continuous innovation, innovation culture
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Discover in this deck the principles of portfolio management; have a set of good practices for innovation funnels; and know how to grow an innovation culture. Want to attend our next webinar? Become a Shiftup Explorer: https://shiftup.work/product/explorer-agility-innovation-qualification-program/
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Innovation. Continuous innovation, innovation culture
- 1. Jurgen Appelo @jurgenappelo Innovation Continuous innovation, innovation culture Thursday 4 November 2020, 18:00 CET
- 2. At the end of this session, you will… Understand the principles of portfolio management Have a set of good practices for innovation funnels Know how to grow an innovation culture
- 3. Introducing innovation funnels Good practices for innovation funnels Good practices for portfolio management Organizational structure Innovation Wrapping up
- 4. Time spans are shrinking! https://medium.com/@JimtheSingh/beyond-the-three-horizons-mckinseys-model-in-hindsight-d0cf844a8c5e The Three Horizons Model
- 5. https://hbr.org/2012/05/managing-your-innovation-portfolio 70% 20% 10% Allocation of resources 70% 20% 10% Return on investments Horizon 1 Horizon 2 Horizon 3 Transformational Adjacent Core Sustaining innovation Disruptive innovation “Golden Ratio”
- 6. There is no correlation between innovation and budget. https://www.strategyzer.com/blog/innovation-versus-rd-spending
- 8. Idea boxes are like deep dark pits Photo by takahiro taguchi on Unsplash
- 9. Risk Management (Robert Cooper) https://www.youtube.com/watch?v=VCWM4ZI_iHo
- 10. Innovation Funnel All ideas are welcome, but they need a disciplined approach to grow along the lifecycle stages.
- 11. Introducing innovation funnels Good practices for innovation funnels Good practices for portfolio management Organizational structure Wrapping up Innovation
- 12. If we want to improve innovation, we need to learn from the backers of the best innovators. The best build their own incubator/accelerator
- 13. Innovation Thesis What do we believe about the future of the world? What kind of products do we want to invest in?
- 17. Innovation BootcampsPhoto by Carl Nenzen Loven on Unsplash Offer condensed and intensive training programs
- 19. Open Innovation Programs Photo by Viktor Forgacs on Unsplash Collaborate beyond the organizational boundaries
- 20. Introducing innovation funnels Good practices for innovation funnels Good practices for portfolio management Organizational structure Wrapping up Innovation
- 22. Innovation Board Who will manage the portfolio of ideas and teams?
- 23. Demo Days How can we follow and measure progress of our startups?
- 24. Keep track of all ideas that pass through the funnel Amount of Entrance Amount of Exit Conversion Rate per stage Duration per stage Overall Conversion Rate Overall Duration Funnel Metrics
- 25. Costs, Tests, Experiments Prototypes, Demos NPS, Fit for Purpose Customer Lifetime Value Work Output Outcome Impact Leading vs Lagging Metrics Measure at both the product and portfolio level. Leading Lagging
- 26. Executive Sponsor Who will be the company’s innovation champion? Photo by Hunters Race on Unsplash
- 27. Internal Crowdfunding How can we use the wisdom of the crowd among our own workers to make the best bets for the future?
- 28. Innovation Scorecard How can we rate our projects and decide which ones will keep our support?
- 29. Metered Funding How can we support the right products with the right amount of funding?
- 30. Cut wages, share profits, freedom with a budget. Aim for “skin in the game” What are the incentives?
- 31. Corporate Venturing Do we invest only in our own ideas or also in those of external startups? Photo by Markus Winkler on Unsplash
- 32. Strategic Buckets How will we mix the high-risk and the low-risk projects? Photo by Nathan Dumlao on Unsplash
- 33. The top performers will earn back the investment for all. https://www.linkedin.com/pulse/venture-investors-playbook-part-2-chip-hazard/
- 34. Make many small bets. The greatest risk is not taking any risks. Photo by Michał Parzuchowski on Unsplash
- 35. Venturing Optimizing Lifecycle stages (maturity) of the business model
- 36. Introducing innovation funnels Good practices for innovation funnels Good practices for portfolio management Organizational structure Wrapping up Innovation
- 38. Sustaining Innovation (Horizon 1 and 2) Disruptive Innovation (Horizon 3) Never manage disruptive innovation via existing business units!
- 39. Intrapreneur Product Vision Startup Team Product Vision Business Model Metrics Dashboard Scaleup Unit Product Vision Business Model Metrics Dashboard Agile Scaling Growth Board Innovation Board Innovation Strategy Innovation Portfolio Gatekeeper Innovation Scorecard Innovation Accounting Metered Funding Management Performance Incentives Executive Sponsor Division Product Vision Business Model Metrics Dashboard Agile Scaling Lean Production Growth Board Organization Design Coaches Workshop Training Innovation Funnel 1 Initiation 2 Expedition 3 Formation 4 Validation 5 Stabilization 6 Acceleration 7 Crystallization MaturityLevels/LifecycleStages Exploration Execution Innovation Vortex Current Organization Continuous Innovation & Transformation 8 Expansion 9 Conservation 10 Finish Embrace evolution
- 40. Introducing innovation funnels Good practices for innovation funnels Good practices for portfolio management Organizational structure Wrapping up Innovation
- 42. The only way not to be disrupted is to disrupt yourself.
- 44. Q & A