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Learning%20Based%20Project%20Management%20For%20Radical%20Innovation

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Title: Learning%20Based%20Project%20Management%20For%20Radical%20Innovation


1
Radical InnovationResearch Program
  • Learning Based Project Management For Radical
    Innovation
  • Gina Colarelli OConnor
  • Massachusetts Institute of Technology
  • Systems Design and Management Program Alumni
    Conference
  • October 2004

2
Where weve been
Introduction
3
Rensselaer Radical Innovation Project (Phase I)
  • Purpose To identify and examine current
    managerial practices associated with radical
    innovation projects and eventually understand
    best practice.

Introduction ? Phase I
4
Radical Innovation Research Project Phase I
  • Longitudinal Study of 12 Radical Innovation
    Projects in Ten Mature Firms
  • Launched in 1995
  • Multi-disciplinary team of faculty
  • Major grant from the Sloan Foundation
  • Partnership with the Industrial Research
    Institute
  • December 5, 2000 Harvard Business School Press
    released our book

RADICAL INNOVATION How Mature Companies Can
Outsmart Upstarts
Introduction ? Phase I
5
Radical Innovations Qualifying Projects
  • The project was established -- with an
    identifiable team and funding. The company
    perceived that the innovation had the potential
    for significant strategic impact, via development
    of
  • new to the world performance features,
  • 5-10X (or greater) performance improvement, or
  • 30 - 50 (or greater) reduction in cost.

Introduction ? Phase I
6
The Companies their Radical Innovations
  • 1. Air Products Oxygen Separation Technology
  • 2. Analog Devices Air Bag Accelerometer
  • 3. DuPont Biodegradable Polymer
  • 4. DuPont Display Technology
  • 5. General Electric Digital X-ray
  • 6. General Motors Hybrid Vehicle
  • 7. IBM Silicon Germanium Devices
  • 8. IBM Electronic Book
  • 9. Nortel Networks Internet Software Rental
  • 10. UTC / Otis Elevator Multi-directional
    Elevator
  • 11. Polaroid Memory Storage Device
  • 12. Texas Instruments Digital Light
    Processor

Introduction ? Phase I
7
The RI Project Lifecycle Dupont Biomax
Phase I ? RI Lifecycle
8
Defining Radical Innovation
Technical Uncertainty Low
High
High Low
RADICAL INNOVATION
Market Uncertainty
INCREMENTAL INNOVATION
Phase I ? Uncertainties
9
Four Dimensions of Uncertainty
? ? ?
Technical Uncertainty
Market Uncertainty
Organization Uncertainty
Resource Uncertainty
? ? ?
Phase I ? 4 Uncertainties
10
Comprehensive Framework for Managing Radical
Innovation
Technical Uncertainty
Resource Uncertainty
Market Uncertainty
Organization Uncertainty
Challenge 1 Capturing Breakthroughs
Challenge 2 Living with Chaos
Challenge 3 Market Learning
Challenge 4 Business Model
Challenge 5 Resource Acquisition
Challenge 6 Transition Mgt.
Challenge 7 Individual Initiative
Phase I ? 7 Challenges
11
Building the Organizational Capacity for
Capturing Radical Innovations
Evaluating and Screening
Other RI Project Tasks
The RI HUB

gatherer
hunter
hunter
Business Unit A
Central RD
Business Unit B
gatherer
gatherer
gatherer
gatherer
Phase I ? RI Hub
12
O
T
R
M
RD
SBU
RI Project Team
SR. MGT.
SBU
RI HUB
Mfg Partner
Early Adopter Partner
Funding Partner
Technology Development Partner
Phase I ? RI Hub
13
RI Oversight Board
RI HUB II
RI HUB III
RI HUB I
Evaluation Bd.
Project 1
Project 2
Project 3
Project n
Project Advisory Board 1, 2, 3.n
Transition Oversight Bds. 1n
(Project Maturation)
Phase I ? RI Hub
14
The Radical Innovation Learning CurveRadical
Innovation Maturity
Radical innovation maturity is defined as the
degree to which the organization has embedded a
system for initiating, supporting and sustaining
RI activities
Phase I ? RI Maturity
15
Early vs. Mature RI Capacity
Executives act as provocateurs, patrons, and
champions to compensate for lack of supportive
culture
Mavericks try to catch the attention of patrons.
Lack of infrastructure and systematic approach.
Acquisition of resources is ad hoc. Project teams
often expect a budget allocation for funding.
Completion of RI tasks, project staffing and
champions rely on individual initiative.
Communication difficulty makes transition
difficult, often flounders, relies on
intervention of senior mgmt.
E
The firms leader-ship sets expectations,
develops RI culture, estab-lishes facilitating
organizational mechanisms (hubs), develops goals
and reward systems
RI idea hunters seek opportunities. Hubs
establish effective evaluation boards.
Non-traditional mktg/ biz creation person- nel
work with RI technical teams to develop biz
model. Learning orientation to project mgmt.
used.
Individual mgrs. with authority to provide seed
fund-ing and internal v.c. organizations
provide multiple sources of capital for RI. The
firm adopts a portfolio approach to funding RI
projects.
RI hubs work with HR to develop a strategy for
identifying, selecting, rewarding and retaining
RI champions, experts and team members
Transition team established with funding and
senior mgmt support continues development until
uncertainty reduced for successful transition.
M
Phase I ? RI Maturity
16
Phase II
Where we are now
Corporate Competency Development for
the Management of Radical Innovation
Introduction ? Phase II
17
Radical Innovation Research Project Phase II
  • Study Objectives
  • The Companies
  • Preliminary Results
  • Organizational Structures
  • Not 1 Competency... But 3
  • Approaches by Culture

Agenda ? Phase II
18
I. Study Objectives
  • TO UNDERSTAND HOW ORGANIZATIONS CAN
    SYSTEMMATICALLY DEVELOP, EVOLVE AND SUSTAIN THEIR
    RADICAL INNOVATION COMPETENCIES
  • What are firms currently doing to develop and
    support radical innovation, as a distinctive
    activity, requiring distinctive management
    techniques?
  • Leadership and Culture?
  • Organizational Structure and Interfaces?
  • Governance and Decision Making?
  • Specific Processes and Tools?
  • Skills?
  • Metrics?
  • What mechanisms can be developed to enhance
    orgs RI capability ?
  • What are the most effective implementation
    techniques for instituting those mechanisms?

Phase II ? Study Objectives
19
Participating Firms
  • 3M
  • Air Products
  • Albany International
  • Corning
  • DuPont
  • GE
  • IBM
  • JJ Consumer
  • Kodak
  • Mead-Westvaco
  • Sealed Air/Cryovac
  • Shell Chemical

Phase II ? Participating Firms
20
Organization StructureI. Idea Generator
Technology Board (Decides)
Case 1
Idea Creation Idea Development Idea
Screening External Scanning
RI HUB
BUS
RD NBD
BUS/Divisions
Case 2
Phase II ? Organizational Structures
21
Organization StructureII. Idea Manager
Incubation
Growth Board/Corporate Renewal Team (Advisory)
RD
Venture Board/Business Development Council
  • Idea review elaboration
  • Staffed full time
  • External technology acquisition
  • Incubation/Development
  • Keep white space businesses through to initial
    commercialization
  • Oversee incubation of aligned opportunities too
    far out for BUs to handle.

Phase II ? Organization Structures
22
Organization StructureIII. Wholistic Sequential
Model
Results ? Organization Structures
23
Organization StructureIV. Corporate New
Ventures (separate activity)
CEO
Venture Review Board (CEO, CTO, COO, BU VPs)
NEW VENTURES
  • RD
  • BU Related Projects
  • (1,2, n)
  • Ventures Technology

New division
President
Business 1
Business 2
BU
Business 3
Phase II ? Organization Structures
24
Organization StructureV. RD Management System
Portfolio Governance Board (CTO, EVPs, BU
Leadership)
Exploratory Marketing
BUs aligned projects caught by BU
development group
RD Directors Projects 1, 2, 3 .n
Exploratory Research
Incubator for unaligned business
Inventory, Bench
Phase II ? Organizational Structures
25
Organization StructureVI. Self-Similar Model
Corporate Strategy
Governance Board
Strategy, Technology, Finance
Corporate RI Hub staffed full time (Projects
1.n) Funded in BUs
Divisional Hub -staffed full time -project 1.n
Divisional Hub -staffed full time -project 1.n
Divisional Hub -staffed full time -project 1.n
..
Phase II ? Organizational Structures
26
Organization StructureVII. Mirrored Model
CEO
CTO
RD Staff (Ops, funding, personnel mgmt.)

RI Program 1 Team
RI Program 2 Team
RI Program 3 Team
RI Program 6 Team
BU1 Acceleration activity mirror
BU2 Acceleration activity mirror
BU3 Acceleration activity mirror
Planned Acceleration activity mirror
Phase II ? Organizational Structures
27
Not just one competencybut 3!
Oversee Transitions/Interfaces
Discovery Creation, recognition,
elaboration, articulation of opportunities.
  • Incubation
  • Evolving the
  • opportunity into
  • a business
  • proposition

Acceleration Ramping up the business to
stand on its own
Conceptualization
Experimentation
Commercialization
  • Basic Research
  • Internal Scanning
  • External Scanning /License/Purchase /Invest
  • Technical
  • Market Learning
  • Market Creation
  • Strategic domains
  • Focus
  • Respond
  • Invest

Phase II ? 3 Competencies
28
RI System Capabilities 4 Approaches
  • Competency Readiness Model
  • Build technical competencies, and be prepared to
    sense opportunities as a result and react
    quickly.
  • Strategy Driven Model
  • Define new technology growth areas, and put
    resources behind them from start to finish. Coach
    entrepreneurial individuals to explore in these
    areas and build external credibility in general
    science domain work with BUs to connect to
    applications. Selection process driven by Sr.
    Mgmt.
  • Execution Driven Model
  • Identify growth platforms based on independent
    initiatives underway throughout company, combine
    them, ramp them up into whole new businesses.
  • Focus on clarity of strategy calling on the
    whole organization to make those businesses
    happen.
  • Rational Model
  • CRD is only about RI, most RI is aligned with
    current businesses. Tight alignment with current
    business senior leadership, getting senior
    leadership to think strategically about the
    future is key.
  • Have an alternative structure for unaligned
    opportunities ( Ventures Group, Bio-Based
    Materials) increase Exploratory Rsrch

Phase II ? Approaches by Culture
29
Difficult to have all 3 competencies in place
COMPETENCY EMPHASIS
Discovery Incubation Acceleration Attention to Interfaces
Competency/ Readiness High Low High Medium
Strategy Driven High Medium High High
Execution Based High High High Low-Med
Rational Model High Low High High
APPROACH TO RI
Phase II ? Competency X Cultural Approach
30
Learning Based Project Management
31
RI Lifecycle Dupont Biomax Detail
Phase I ? Learning Based Project Management
32
Comprehensive Framework for Managing Radical
Innovation
Technical Uncertainty
Resource Uncertainty
Market Uncertainty
Organization Uncertainty
Challenge 1 Capturing Breakthroughs
Challenge 2 Living with Chaos
Challenge 3 Market Learning
Challenge 4 Business Model
Challenge 5 Resource Acquisition
Challenge 6 Transition Mgt.
Challenge 7 Individual Initiative
Phase I ? Learning Based Project Management
33
Challenge 2 Living with Chaos -- Managing
Radical Innovation Projects
Keys for Successful Radical Innovation Project
Management
2.1 Recruit the right people for the team 2.2
Manage internal and external interfaces 2.3 Track
Uncertainty Reduction 2.4 Use a learning plan
(vs. a business plan) ? Learning about
Markets for RI (Challenge 3) ? Discover the
Appropriate Business Model (Challenge 4) ?
Engage in Resource / Competency acquisition
(Challenge 5)
Phase I ? Learning Based Project Management
34
2.1 Recruit the Right People for the Team
Incremental Innovation
Mfg
Mktg
Acctg
Engrg
Cross Functional Team
VS.
Radical Innovation
Mfg
Acctg
Team of Cross Functional Team Members
Mktg
Engrg
Phase I ? Learning Based Project Management
35
2.1 Building the Radical Innovation Team
  • Characteristics of radical innovation team
    members
  • Superior technical capabilities
  • Inquisitive
  • Not afraid to be different
  • Extremely bright
  • Aggressive
  • Risk taker
  • Entrepreneurial
  • Someone with passion
  • Broadly educated
  • Integrative
  • Likes change
  • Goal-oriented

Traditional NPD Teams Cross Functional
VS.
Radical Innovation Teams Cross-functional
individuals
Phase I ? Learning Based Project Management
36
2.1 Building the Radical Innovation Team
Core team of Multifunctional people
Phase I ? Learning Based Project Management
37
2.2 Manage Internal External Interfaces 2.3
Track and Manage Uncertainty Reduction

O
T
R
M
RD
SBU
RI Project Team
SR. MGT.
SBU
RI HUB
Mfg Partner
Repeat for t 1 ? n
Early Adopter Partner
Funding Partner
Technology Development Partner
Phase I ? Learning Based Project Management
38
2.4 Use a Learning Plan
HI
Org Unc
Res Unc
Tec Unc
Mkt Unc
Learning Plan
Discovery Driven Planning
Milestone Planning
Business Plan
Operating Plan
LOW
Phase I ? Learning Based Project Management
39
Three Dimensions of Project Uncertainty



Dimension 1

Organization
Categories of Uncertainty


Resource



Market


Technical



Unanticipated


Dimension 2

Latency


Anticipated



-
Routine
Showstopper

Criticality


Dimension 3
40
2.4 Use a Learning Plan
Phase I ? Learning Based Project Management
41
2.1 Clarify Uncertainties Management Checklist
(I)
Categories Technical Uncertainty Market Uncertainty Resource Uncertainty Organization Uncertainty
Uncertainty Focus Understanding technology drivers, value and economic feasibility Learning about market drivers, value creation and business viability Accessing money, people and organizational competencies Gaining and maintaining organizational legitimacy
Areas to Consider -Completeness and Correctness of Underlying Scientific Knowledge -Articulation of New Benefits that are Enabled -Potential for Multiple Market Applications -Potential Cost Saving Advantages -Approaches to Solving Identified Technical Problems -Manufacturing and Software Development Requirements -Scalability at Acceptable Economics -Clarity of Value Proposition -Size of Business Potential -Initial Market Entry Application and Follow-on Applications -Initial Customer Partners -Other Required Value Chain Agents -Existence of Other Technical/Potential Competitive Solutions -Business Model Appropriateness -Availability of Internal and External Funding -Project Requirements For Money, Team and Partnerships -Project Lead Choice -Team Competencies Aligned with Project Requirements -Talent Attraction and Development -Competency Acquisition In-House or External Partnerships -Partnership Identification, Formation and Management -Ongoing Assessment of Current Partnerships as Project Matures -Strategic Context for Innovation -Commitment of Senior Management -Relationships with Internal Stakeholders -Potential Organizational Resistors -Influence with Corporate Strategy/ Management -Expectations of Senior Management and Transitioning Units -Organizational Design -Project Home and Reporting Structure -Nature of Project Guidance Process
42
2.1 Clarify Uncertainties Management Checklist
(II)
Categories Technical Uncertainty Market Uncertainty Resource Uncertainty Organization Uncertainty
Uncertainty Focus Understanding technology drivers, value and economic feasibility Learning about market drivers, value creation and business viability Accessing money, people and organizational competencies Gaining and maintaining organizational legitimacy
Potential Flaws and Fatal Flaws or Showstoppers -Technology Proof of Concept Setback -Prototype Limitations -Cost Disadvantages -Technology and/or Application Development Issues -Development Process Major Issues -Market Attractiveness Turns Out to be False -Market Test of Prototype Fails or Disappointing -Inability to Secure Appropriate Customer Partner -Lack of robustness, depth, scope and/or number of new capabilities offered resulting in limited or constrained market applications -Inappropriate time horizon for new Market Creation -Major Funding Loss due to Reversal of Overall Corporate Performance -Project Team Limitations -Inability to Attract Required Talent -Lack of Partnership Strategy -Failure of Alliance Deal or Technical Partner -Undefined Partnership Exit Conditions -Loss of Champion -Change in Senior Management and/or Strategic Intent -Change in Senior Champion/Sponsor -Transfer of Responsibilities at Project Transition -Lack of Strategic Marketing Communications -Inappropriate Portfolio and Project Metrics -Insufficient Runway to Demonstrate Business Results
43
Comprehensive Framework for Managing Radical
Innovation
Technical Uncertainty
Resource Uncertainty
Market Uncertainty
Organization Uncertainty
Challenge 1 Capturing Breakthroughs
Challenge 2 Living with Chaos
Challenge 3 Market Learning
Challenge 4 Business Model
Challenge 5 Resource Acquisition
Challenge 6 Transition Mgt.
Challenge 7 Individual Initiative
Phase I ? Learning Based Project Management
44
Learning about Markets Different Questions
  • INCREMENTAL
  • INNOVATION
  • How much market share can we grab?
  • How fast will it grow?
  • How can we segment the market?
  • How should we position the product?
  • BREAKTHROUGH AND RADICAL INNOVATION
  • What applications will this technology
    enable?
  • What is the potential impact of this technology
    on the market?
  • What technical hurdles must be overcome? (How
    can we demo?)
  • What is the order of magnitude potential market
    size?

Phase I ? Learning Based Project Management
45
Market Learning Different Methods for Seeking
Answers
  • INCREMENTAL INNOVATION
  • Market Research
  • Written Surveys
  • Concept Tests
  • Focus Groups
  • Secondary Research
  • BREAKTHROUGH AND RADICAL INNOVATION
  • Past Experience
  • Demo/Prototype
  • Professional Meetings/Shows
  • Internal Networks
  • Observe Potential Users
  • Partner with Users
  • Probe and Learn

Phase I ? Learning Based Project Management
46
Two Models of Market Learning

TECHNOLOGY VOICE
CUSTOMER VOICE
  • Breakthrough New Products
  • Visioning the Market
  • Building/Creating Demand
  • Incremental New Products
  • Listening to the Market
  • Effectively/efficiently addressing existing demand

Phase I ? Learning Based Project Management
47
Market Exploration vs. Market Exploitation
  • Limit variety gain deep experience.
  • Refine focus on a target market
  • Choice/selection
  • Efficiency
  • Implementation
  • Focus Building loyalty, capturing market share,
    saturating the identified market, leveraging
    knowledge of current customers to maximize
    profits.
  • Maximize variation to gain a scan of the
    landscape
  • High risk taking
  • Experimentation
  • Flexibility
  • Discovery
  • Focus on developing novelty
  • Focus new connections, new potential partners,
    new application arenas to maximize options

Phase I ? Learning Based Project Management
48
GEs Probing and Learning Process-CT Scanner
Critical Events 1971 EMI Introduces CT Head
Scanner MidLate 1970s Government
Regulations Certificate of Need
Breast CT 1975
Neuroscan Head CT Late 75
Body Prototype 7800 1976
Improved 7800 1977
Body Prototype 8800 1978
Body Prototype 9800 1982
Probes
Learning
Body Prototype 9000 Early 80s
Lynn, Morone and Paulson (1996), Marketing and
Discontinuous Innovation, CMR.
CT Max 1985
Phase I ? Learning Based Project Management
49
Searles Probing and Learning Process-Nutrasweet
Discovery Sweet Taste Aspartame 1965
  • Critical Events
  • 1970 Cyclamates Banned
  • 1974 FDA Approved
  • FDA Stay
  • 1981 FDA Approved
  • 1983 FDA approval carbonated beverages
  • Late 80s FDA approval
    spoon-for-spoon

Chewing Gum
Carb. Beverages
Powdered Drinks
Cereal
Whipped Topping
Spoon For Spoon
Tables
Packet
Ice Cream
Chewing Gum
Ice Cream
Powdered Drinks
Tables
Packet
Whipped Topping
Chewing Gum
Pudding
Powdered Drinks
Whipped Topping
Tables
Packet
Carb. Beverages
Spoon For Spoon
Probes
Learning
Phase I ? Learning Based Project Management
50
Comprehensive Framework for Managing Radical
Innovation
Technical Uncertainty
Resource Uncertainty
Market Uncertainty
Organization Uncertainty
Challenge 1 Capturing Breakthroughs
Challenge 2 Living with Chaos
Challenge 3 Market Learning
Challenge 4 Business Model
Challenge 5 Resource Acquisition
Challenge 6 Transition Mgt.
Challenge 7 Individual Initiative
Phase I ? Learning Based Project Management
51
Challenge 4 Discover Appropriate Business Model
Manufacturing Component, System or Finished
Product?
Sales and Marketing Direct or via Partners?
Technical Development Product or Service?
Distribution Which Channels?
Customer Service
  • Which path to the market?
  • What parts of the value chain will the firm
    retain versus outsource?
  • How to entice additional members?

Phase I ? Learning Based Project Management
52
Discovering the Appropriate Business Model
  • Business Model Design and Development Highly
    Experimental (e.g., Nortel Networks and Dupont)
  • Logic Puzzle
  • Systems Thinking
  • Mechanisms for Envisioning Entire Value Chain
  • Market Learning Likely to Lead Company Away from
    Familiar Business Models
  • Value Chain Creation Stretches Company into New
    Business Areas (e.g., Texas Instruments)
  • Not Areas of Natural Strength
  • Business Model Evolves as Market Learns about New
    Technology and Infrastructure Requirements
  • Company May Require Temporary Infrastructure to
    Educate Partners/Accelerate Value Chain
    Development

Phase I ? Learning Based Project Management
53
Bending and Shaping Business Models Evidence
  • Downstream Changes
  • We got dragged kicking and screaming into this
    one. It is counter to the culture of how we do
    business.
  • If people dont rent, we dont make money. Its a
    fascinating model for a product company.
  • Upstream Changes
  • We have a very complicated business arrangement
    with (our manufacturing partner). They basically
    hold title to the factoryBut we have a lot of
    our people out there with a lot of technology
    invested. Ultimately what we had hoped for was a
    supplier relationship, but were having to
    support that a lot. And that may lead to a change
    in the business arrangement. I dont know. Who
    knows whatll happen?

Phase I ? Learning Based Project Management
54
Tools for Market Creation/DevelopmentTools for
Market Exploration
  • Learning by Using
  • No Formal Market Launches Rather,
  • Concept Launches,
  • Whispering in Peoples Ears,
  • Alpha, Beta, Ship.
  • Objective Generate Excitement about Potential
    Applications and Uncover More Beneficial
    Applications
  • Positive Impact of Large Corporate Brand Name

55
Biz Model Dev/Market Creation need Exploratory
Processes
Project Envisioned Killer Application Actual Entry Application
GE Digital X-Ray Chest Scanner Breast Scanner
TI Display Projection System Mass Market Projection Equipment Large Screen Theater Projection Systems
IBMs Silicon Germanium Chip Cellular Telecommunications Global Positioning Systems Satellites
Duponts Biodegradable Polymer Disposable Diapers Various Packaging Applications
Phase I ? Learning Based Project Management
56
Evidence of Application Migration Analog
Devices Accelerometer MEMS Device
Breakeven (2001)
Other Automotive Apps (1999)
Airbag Sensors for Automotive Industry (1992)
Process Improvements
New Product Area Gyroscopes (2002)
PC Games (1998)
Instrumentation (Medical) Inquiries (2000)
Box Games (Playstation) (1999)
Sporting Goods Apps (2000)
Optical Telecom (2001)
New Processes (2000)
Phase I ? Learning Based Project Management
57
Comprehensive Framework for Managing Radical
Innovation
Technical Uncertainty
Resource Uncertainty
Market Uncertainty
Organization Uncertainty
Challenge 1 Capturing Breakthroughs
Challenge 2 Living with Chaos
Challenge 3 Market Learning
Challenge 4 Business Model
Challenge 5 Resource Acquisition
Challenge 6 Transition Mgt.
Challenge 7 Individual Initiative
Phase I ? Learning Based Project Management
58
Challenge 5 Acquiring Resources and
Competencies
  • KEY OBSERVATIONS
  • Funding Big, Important Distraction
  • Traditional Internal Sources of Funding NOT Set
    Up for Long-term, Uncertain Investments
  • Traditional Investment Criteria (projected market
    share, revenue growth rate, rate of return ) NOT
    Appropriate
  • Partnership Selection, Management Hypercritical
  • Needs Evolve as Project Maturity Evolves

Phase I ? Learning Based Project Management
59
Resource/Competency Acquisition
  • Go External Govt Funding, Alliance Partners
  • ?Adopt Resource Acquisition Mentality
  • ?Internal Venture Capital Funds
  • ?Bootstrapping

Traditional Budget Allocation and Investment
Models
Breakthrough or Radical Innovation Project
Funding Needs
Phase I ? Learning Based Project Management
60
Learning Plan Outcome Business Proposal
Areas To Consider Incremental Innovation Projects Breakthrough and Radical Innovation Projects
Product/Service Overview Brief History, Identify Champions, Describe Product/Service to be Offered, Technology Attributes, Unique Features Brief History, Champions, Potential Market Applications Tested Pursued, Technical Feasibility
Value Proposition Strategic Fit, Value of Technology, Value for Customers Strategic Fit or Stretch, Potential Value of Technology, Potential Customers Value
Market Opportunity Industry and Market Trends, Target Market, Size of Addressable Market, Revenue/Cost Savings/Risk Projections Industry and Market Trends, First Market Application, Plans for Follow on Applications, Potential Financial Value -Order of Magnitude
Competitive Landscape Nature of Competition, Competitor Assessment, Uniqueness of Technology, Market Window and Sustainability Potential Competitors, Possible Competitive Offerings, Potential Competitive Advantage
Potential Business Models Value Chain Analysis, Competency Assessment, Partnership Opportunities, Revenue Flows Value Chain Analysis, Competency Assessment, Partnership Opportunities, Potential Revenue Flows
Learning Plan Outcomes and Risk Assessment Identify Assumptions, SWOT across Technical and Market Factors (T/M typically low O/R BU dependent) Identify Assumptions, SWOT across Technical, Market, Organizational and Resource Categories (all likely to be higher to high risk)
Recommendations and Next Steps Recommend Deployment Path, Identify Funding Requirements, Critical Milestones, Risk Mitigation Plan and Transition Issues Recommend Deployment Path, Identify Funding Requirements, Critical Milestones, Risk Mitigation Plan and Transition Issues
61
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