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TIM day Five 020810Source : Rensselaer Lally School of Management & Technology

TechnicalUncertainty

ResourceUncertainty

MarketUncertainty

Organization

Uncertainty

Challenge 1:CapturingBreakthroughs

Challenge2: Livingwith Chaos Challenge

3: MarketLearning Challenge

4: BusinessModel

Challenge5: Resource

Acquisition

Challenge6: TransitionMgt.

Challenge7:Individual

Initiative

Framework for Managing RI

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10 Elements of Incremental Innovation

1. Define quality andcustomer value

2. Develop a customerorientation

3. Focus on the company sbusiness processes

4. Develop customer andsupplier partnerships

5. Take a preventiveapproach

6. Adopt an error-freeattitude

7. Get the facts first

8. Encourage every

manager andemployee toparticipate

9. Create an atmosphere

of total involvement10. Strive for continuous

improvement

14-2

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S trategy for Innovation

O perational effectiveness: performing similar activities betterthan rivals perform them like TQM, benchmarking,outsourcing, reengineering etc.Fit among activities (competitive advantage grows out of the

entire system of activities)Strategic positioning: performing different activities fromrivals or performing similar activities in different ways.Strategic positions:

Variety based Needs based Access based Combinations

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W ays to Lower Risk

P roduct teams

Cross-functional groups

Joint venturesCooperation with lead users

Do it yourself innovation

Acquiring innovationO utsourcing innovation

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C riteria for Innovation S trategy

O verall revenue growthP ercentage of sales from new products

Customer satisfactionRO I in innovation

Number of new products

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TIM day twelve 270810

Top 10 factors for Analysis of TechnologyS trategy

1. Ability of the company to execute its strategy

2. Credibility of management

Does the company do what it says it will do?

3. The quality of the strategy

Will management s vision create future value?

4. Innovativeness

How readily does the company adapt to changing technologiesand markets?

5. Ability to attract and retain talented resources

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Top 10 factors for Analysis of TechnologyS trategy

6. Market position

How strong is the company s brand?

7. Management experience

8. Quality of major processes

Does it have plans and processes that enable it to adapt tochanging market conditions?

9. Research leadership (focus)R&D budget as a percent of sales, profits and cash flow

10. HR practices

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TIM day twelve 270810

Framework for the AnalysisThe Framework is a guide for the analysis of technology commercialization projectsfrom idea generation to commercial success

The Framework helps answer the following questions:

In what phase of commercialization is a project located? Who are the most likely resource providers? What are the practical challenges associated? How should commercialization progress be measured?

The Framework includes: A commercialization process roadmap A description of technology development and business plan A structured approach to help improve the probability of success by identifying

opportunities and challenges A method to develop and apply appropriate measurements

Source : Harvard BusinessP

ress

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TIM Day Eleven 260810

Acting as a strategic catalyst requiresmastering many roles

Information gathererWhat are the problems and opportunities?

Analyst

What are the key choices? What should we do?Advocate and teacher

P resentation of information and analysis in ways thatstimulate debate about the key issues

LeaderModeling the use of time and attentionSupporting the team in making real decisions

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TIM Day Eleven 260810

Successful ImplementationSenior management commitment &involvement

Senior steering committeeEmpowered champion

Diagnostic phaseAligned with the marketAs well as with the existing culture and organization

A designed implementation planUp frontWith appropriate expectations

Allocating resources to match the design.