Driving growth. innovation. through PRESENTED BY ROBERT B. TUCKER. Fama 2018 annual conference San Diego, California February 23, 2018

Transcription

1 Driving growth through innovation PRESENTED BY ROBERT B. TUCKER Innovation Resource Consulting Group Fama 2018 annual conference San Diego, California February 23, 2018

2 THE GROWTH CHALLENGE Very few companies are growing at a rate that will entice investors or ensure their longterm survival. Source: Boston Consulting Group Annual Survey 2014 Source: Harvard Business Review

3 In 10 years, over 40% of the FORTUNE Source: Babson Olin School of Business Research WILL N0 LONGER BE HERE.

4 In 10 years, more than three fourths of the S&P 500 will be companies that we have not heard of yet. Source: Professor Richard Foster, Marathon Yale University Oil Innovation Exchange Speaker Series

5 The acceleration Challenge 27/02/2018

6 GORDON MOORE GOES HERE Moore s Law is setting the pace of acceleration MY PRESENTATION TITLE 27/02/2018

7 Innovation adoption lifecycle Early Adopters Innovators Innovators Early Majority Late Majority Laggards

8 The new adoption lifecycle Late Majority d d d d Too Late Majority Fast Followers First Movers Road Kill

9 The differentiation Challenge Source: Harvard Business Review, July 2013

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11 The disruption Challenge Source: Harvard Business Review, July 2013

12 The disruption Challenge Disruption occurs when a new product or business model creates a new way for the customer to solve their problem, which in turn weakens or destroys the value Source: proposition Harvard Business Review, of July existing 2013 providers.

13 researching the world s most innovative companies

14 1. 3M Company 2. Apple 3. DuPont 4. Emerson 5. Boeing 6. Broadcom 7. General Electric 8. CEA 9. Ericsson 10. LG Electronics Most Patents Earned

15 1. Amazon 2. Alphabet 3. Intel 4. Samsung 5. Volkswagen 6. Microsoft 7. Roche 8. Merck 9. Apple 10. Novartis

16 Forbes most innovative list 1. Tesla 2. Salesforce.com 3. Amazon 4. Incyte 5. Alexon 6. Under Armour 7. Monster 8. Unilever Indonesia 9. Vertex 10. BioMartin Pharmaceutical

17 Bcg s 50 most innovative companies

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19 STRATEGY 01 UNLEASH THE GROWTH MINDSET

20 CREATIVITY Coming up with ideas INNOVATION bringing ideas to life

21 An idea doesn t become an innovation until it s widely adopted and incorporated into people s daily lives. -- Art Fry, Inventor 3M Post-It Notes

22 How many McDonald s innovations can you list in 60 seconds?

23 MAPPING MCDONALD S INNOVATIONS Product Process Strategy Breakthrough MCDONALD s Big Mac MCDONALD s Franchise Model MCDONALD s All Day Breakfast Substantial MCDONALD s Cage-Free Chicken MCDONALD s Automated Burger Frying MCDONALD s Ronald McDonald House Incremental MCDONALD s Shamrock Shake MCDONALD s French Fry Cooker MCDONALD s Two Drive-Thru Windows

24 BUILDING YOUR NEXT BREAKTHROUGH Product Process Strategy Breakthrough Substantial What s it going to be? Incremental

25 STRATEGY 02 MANAGE IDEAS AS ASSETS

26 What do these items have in common? The entire content of this presentation is intellectual property. Copyright All rights reserved. For permission to repurpose these slides, please

27 Innovation 2.0 The suggestion box CEO Open Door Policy Research and Development department Marketing department Strategic planning department New Product Development department

28 We ve got a process for everything else why not for innovation? --simon spencer borg warner innovation champion

29 Tucker innovation model Scheduled Ideation Sessions Employee Idea Campaigns Supplier Brainstorming Sessions Customer of the Month Sessions Customer Dreaming Sessions Disruption Technology Offsites Research & Refinement Prototyping The Pilot Test New Strategies Selection Process Tiger Team Business Case Idea Factory Pilot Launch Launch New Processes New Products Inputs Throughputs Outputs

30 STRATEGY 03 COLLABORATE WITH CUSTOMERS

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32 INNOVATION tools Voice of the Customer Lean Startup Lead users Design Thinking Ethnography Crowdsourcing Focus groups Customer Case Research Jobs To Be Done Big Data Analytics Trend-Driven Innovation Innovation Jams

33 Unarticulated Customer Needs Unmet Customer Needs Current Customer Needs

34 Tool: Video Voice of the Customer Objective: Create a breakthrough new product for John Deere s Turf Division.

35 Key insight: There s never a good time to cut the grass.

36 Breakthrough Product: John Deere s 2500E, the golf and turf industry s first hybrid mower.

37 FADS TRENDS TECHNO-TRENDS DRIVING FORCES OF CHANGE

38 DRIVING FORCE: SPEED

39 DRIVING FORCE: CONVENIENCE

40 DRIVING FORCE: DEMOGRAPHICS

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42 DRIVING FORCE: EVOLUTION CHOICE

43 explosion of choice Choice is good black personalization Over-choice Mass-customization

44 TECH-TREND: WEARABLE TECHNOLOGY Carnival Cruise Lines is rolling out new wearable technology to enhance guest experience.

45 WEARABLES AT WORK

46 Tech-trend: ARTIFICIAL INTELLIGENCE

47 TECH-TREND: INTERNET OF THINGS

48 Amazon s Alexa is being asked all kinds of questions that researchers never imagined. Flaahlights, thermostats

49 MY PRESENTATION TITLE 27/02/2018

50 27/02/2018 MY PRESENTATION TITLE Tech-trend: DRIVERLESS CARS driverless vehicles

51 Tech-trend: Drones

52 Tech-trend: Virtual reality

53 IMPROVE THE PHYSICAL ENVIRONMENT

54 STRATEGY 04 CULTIVATE A RISK-TAKING CULTURE

55 BCG S MOST INNOVATIVE COMPANIES 2006

56 INNOVATION BARRIERS, We are a risk adverse culture 2. Lack of time to work on new ideas 3. Large corporation syndrome 4. Legacy business slows change 5. Operational mindset dominates 6. Little budget freedom to experiment 7. Short-term focus 8. Resource constraints Source: TIR Survey of Nokia High Potential Leaders

57 STRATEGY 05 INVOLVE EVERYBODY IN THE ENTERPRISE

58 Source: Harvard Business Review, July 2013

59 SEVEN INNOVATION LEADERSHIP SKILLS 1. Opportunity oriented. Willing to Take initiative. 2. Willing to challenge status quo. Assumption assaulter. 3. Focused on THE END USER. Empathetic. 4. Always looking ahead. Trend-watcher. 5. exceptional collaborator. Brings people together. 6. PRODUCES NEW IDEAS IN ABUNDANCE. Creative. 7. ADEPT AT BUILDING THE BUY -IN FOR NEW IDEAS.

60 EMBRACE THE OPPORTUNITY MINDSET Innovation isn t something you do after you get your Innovation work done. isn t something It s how you you approach do after you your get work. your work done. It s how you approach your work. You can innovate in any job, any department, any You organization. can innovate in any job, department, or organization. Don t Don t wait wait for others for others to ask to you ask to you innovate. to innovate. Obligation? Or Opportunity? Innovation Innovation is figuring is figuring out how out to how add to value add value where you are. where you are. Innovation isn t just having ideas, it s about taking action on your ideas. Innovation isn t just having ideas, it s about taking action on your ideas..on.

61 THANK YOU! The entire content of this presentation is intellectual property. Copyright All rights reserved. For permission to repurpose these slides, please For more information. contact me at or (805)