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Build an Innovation Engine

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There is a way to make innovation more systematic   without massive investments and restructuring. Know how a company can build a “minimum viable” innovation function, in just three months. – PowerPoint PPT presentation

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Provided by: dtechsystems
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Title: Build an Innovation Engine


1
  • Build an
  • Innovation
  • Engine in 90 Days

2
  • 4
  • Steps to a Viable Innovation System

DAY 1-30 Define Your Innovation Buckets
DAY 20-50 Zero In on a Few Opportunities
DAY 20-70 Form a Small Development Team
DAY 45-90 Create a Way to Shepherd Projects
3
  • After three months, What you will have is an
    efficient way to identify the right ideas and
    develop them.

4
  • STEP 1
  • Define Your Innovation Buckets
  • Core vs Growth

5
  • Understanding the Differences

Core New Growth 
Follow current strategy Push frontier of strategy
Offer rapid returns Offer long-term returns
Managed by main business Managed outside main business
6
  • Assess Your Growth Gap and Determine How to Fill
    It
  • The larger your growth gap is, the further from
    the core your innovations will need to be, and
    the longer it will take to realize revenue from
    them.

Projected growth from current operations
Long-term growth goals
7
  • STEP 2
  • Zero In on a Few Strategic Opportunities
  • Do your research

8
1
  • Meet with a Dozen Customers

2
  • Explore Unmet Needs

3
Hold a Workshop
9
  • STEP 3
  • Form a Small Development Team
  • One in a team must be thinking about innovation.

10
1
  • Dedicate a Few People

2
  • Free Up Resources

3
  • Develop a Process Checklist

11
  • A Sample Checklist

Customer interviews Plan to make money
Industry review Plan to test uncertainties
Clearly defined customer Low fixed costs
Compelling advantage Rapid prototype
Detailed description of business
12
  • STEP 4
  • Create a Way to Shepherd Projects
  • Manage strategic uncertainty

13
  • Set Up an Oversight Group

1
STOP
2
START
3
REDIRECT
14
  • Establish Oversight Guidelines

1
Assign a Champion to each project
2
Set spending thresholds
3
Tie further investment to milestones
15
  • Next Steps
  • Connect to formal systems?
  • Create special functions?
  • Identify organizational barriers?

16
  • Final Advice
  • Do everything or nothing.
  • Dont skimp on personnel.
  • Dont avoid failure.

17
Thank You
You can contact us at
00966 56 100 4748 info_at_dtechsystems.co www.dtechsy
stems.co
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