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Maturing Innovation Management One Step at a Time

The fall conference season is winding down and this year I've had the privilege of attending and speaking at some great innovation events, sharing the newly launched Innovation Management Maturity Model™. From regional PDMA meetings in Dallas and Atlanta, to the national PDMA PIM conference, the Optimizing Innovation conference in NYC, to the Planview Horizons Annual Customer Conference, it's been a brain-filling couple of months.

The Results Are In: Product Leaders Report a Need for Speed and a Roadmap to Sustainable Innovation

Findings from the Fourth Product Portfolio Management Benchmark Survey

Imagine sailing in the World Cup race without a strategic plan or a map. It is a sport where speed is of the essence, decisions (and perhaps more importantly the timing of those decisions) are paramount, and team talents must be optimized at any moment. With competitors abound displaying their impressive spinnakers and advanced technology--only the risk takers advance. The will to win is apparent, yet without a strategy and a map, a team would drift into execution mode and lose the race.

2019-04-30T12:24:24-07:00November 18th, 2013|Categories: Blog Archive|Tags: , , , , |

PharmaX, the CEO’s Dilemma and Open Innovation – Part 3

In Parts 1 & 2, Gordon, newly appointed CEO of PharmaX, is confronted with a serious innovation gap in the next 5 years. His pipeline of projects is quality but high risk. From an arm’s length point of view, he sees that he has 3 options: business as usual, R&D budget cutting or rethink the way PharmaX assets are being used to redefine a new strategy. In Part 3 we will see how Gordon draws on his experience in customer needs driven innovation and managing his team, to carve out a daring innovation program.

PharmaX, the CEO’s Dilemma and Open Innovation – Part 2

In the first installment, Gordon the newly appointed CEO at Pharmax is confronted with an innovation gap of 5 years. Certainly, the potential of the portfolio is high, but the risks are even higher. With market pressure breathing down his neck, Gordon tries to make sense of the options that he has and make the right decisions.

PharmaX, the CEO’s Dilemma and Open Innovation – Part 1

We are on the executive floor of the imaginary pharmaceutical company PharmaX, it is Q3 and the top management is preparing for the annual innovation review. The year has been tough with revenue being hit by generic competition as their major products come off patent, but then it has been difficult for all the industry. This is the first article in a series of three. Parts 2 & 3 will be published in the next 2 weeks.

2019-04-30T12:12:20-07:00September 10th, 2013|Categories: Open Innovation, Strategies|Tags: , , , , , |

Measuring Open Innovation – 3 Key Principles to Improve Your Innovation Measurement Practices– Part 1

Thanks to loads of compelling research studies and best practice cases in open innovation (OI) carried out over the last decade, several companies nowadays begin to embrace and partially apply the new principles and methods OI offers. However, when managing open innovation at the project level, even experienced managers still go blank at the question: how to assess, control, and measure the performance of these activities? In this series of articles, we will address the above issue by discussing a general framework for an open innovation performance measurement system (Part 1). Given this framework, a metricsbased management toolkit will be presented that provides a suite of key performance indicators (KPIs) for a specific set of OI methods that demonstrates the key results of our Open Innovation KPI 2012 Study (Part 2).

How Procurement Can Help Suppliers Become Innovation Partners

In this interview, award winning Jean-Baptiste Rubens – currently Head of Procurement Innovation at Mondelēz International (formerly Kraft Foods) – describes the journey his team embarked on when realizing they were not extracting the maximum value from their suppliers. By a deliberate process where R&D needs were rationalized and dispatched to selected suppliers, the Procurement team was able to direct supplier innovation from punctual dispersed activities, to highly coordinated projects that had impact transversally across the company.

How to Shock Management into Rethinking the Business Model – Prove They can be Blindsided by a Fingerprint

Despite a detailed process with countless hours of work, and sincere efforts to take a longer-term, strategic look at where to play and how to win, many businesses fail to anticipate fundamental shifts that should cause them to rethink their entire business model. The results are often disastrous - too many businesses end up on life support. This article presents a new concept called “Competitive Fingerprints” that will allow readers to anticipate shifts and adapt their business model to capitalize on future market realities.

A Hitchhiker’s Guide to Open Innovation in Corporate Venturing

Although plagued with mixed opinions that are influenced by mythology surrounding the investment industry, corporate venturing is finally resurfacing as an important component of the corporate innovation toolbox. As companies reassess the contribution that corporate venturing can make to their innovation objectives, it is critical that the fundamentals of corporate venturing are understood. This article addresses a number of important points to consider when applying corporate venturing in a global innovation strategy.

Understanding your Innovation Culture – A Case-Study from Swisslog

InnovationManagement is delighted to present a brand new Case Study highlighting the challenges of creating an innovation culture that: supports new product/service development initiatives, facilitates the creation of idea campaigns, spurs employee engagement and develops business value. In this article, Colin Nelson, Director of Strategic Consulting at HYPE Innovation, delves deeper into how collaborative innovation challenges were identified, managed and successfully overcome at Swisslog.

How Can You Reuse Solutions From Other Industries?

Innovation is often more about combining what is already there than reinventing the wheel in a creative manner. In this article you will learn how to apply solutions from other industries to your problem at hand by using… metaphors. This method I am about to present is called Metaphor Safari and is based on professor Ikujiro Nonaka’s theory on knowledge management.

How To Become A Business Model Architect

Our first article in this series, titled “Include Business Model Review as a New Year Resolution”, described a method to reveal weaknesses in your business model. So, what do you do next after you complete your business model assessment and find weaknesses in one or more of its cornerstones? You find Value Accelerators (VA)™! VA’s are specific and market-proven ideas, assets or strategies that directly accelerate revenue and profit growth. This article discusses how to develop, assess and prioritize the best VAs to strengthen weaknesses in your business model. It also gives you a link to download an example of a scorecard to help prioritize the VAs.

How to Emerge from Crisis by Knowing your Innovation Growth Opportunities & Competitors’ Strengths

Companies sometimes behave like the ostrich with their head in the ground while others emerge from the crisis like a phoenix. Not knowing with which new products or services your company really earns money is a bit like the ostrich. However there are effective means to gain transparency on innovation spending without too much effort. These tools also allow a comparison with your competitors to understand what they are doing differently in their approach to successfully managing their innovation activities. Finally, they help companies which currently struggle with the economic situation to become more effective and efficient in their innovation management.

Convincing SMEs that Innovation Management Matters

SMEs are perceived as the back-bone of most economies in Europe. Therefore, a lot of programs have been launched to support their growth. Over the past years, offering innovation support has become popular, complementing the well-known start-up financing and technology transfer programs. Despite the above, there is a level of dissatisfaction regarding the impact of these services.

How Crowdsourcing Impacts Innovation Portfolio Management

In this in-depth article we present how Open innovation meshes with crowd sourcing, drawing on ideation, market needs and opportunities, to fuel a balanced portfolio with actionable innovation challenges, or « the right things to do », and converges these with a need driven approach to source the ways of « doing things right ». We will illustrate this innovation continuity with a number of examples and a focus onto the food and drink industry.