innovation in big, ugly mncs

45
5 SIGNS THAT THESE ARE THE INTRAPRENEURS YOU’RE LOOKING FOR! ERIC TACHIBANA @ ASIAN FINANCIAL SERVICES CONGRESS

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Page 1: Innovation in big, ugly MNCs

5 SIGNS THAT THESE ARE THE INTRAPRENEURS

YOU’RE LOOKING FOR!

ERIC TACHIBANA @ ASIAN

FINANCIAL SERVICES CONGRESS

Page 2: Innovation in big, ugly MNCs

2 QUESTIONS

Page 3: Innovation in big, ugly MNCs

HOW CAN A SMALL COG IN A BIG MACHINE HAVE IMPACT?

Page 4: Innovation in big, ugly MNCs

HOW CAN A LEADER CREATE A BIG MACHINE THAT AFFORDS

OPPORTUNITY?

Page 5: Innovation in big, ugly MNCs

5 SUGGESTIONS

Page 6: Innovation in big, ugly MNCs

INCREMENTAL

= DISRUPTIVE

/

CLARIFY YOUR SCALE1

Page 7: Innovation in big, ugly MNCs

CLARIFY YOUR SCALE1

MOST FIRMS TREAT INCREMENTAL &

DISRUPTIVE INNOVATION THE SAME

Page 8: Innovation in big, ugly MNCs

Clarify YOUR

SCALE1

WHEN IN FACT, THEY’RE TOTALLY

DIFFERENT

Page 9: Innovation in big, ugly MNCs

Clarify YOUR

SCALE1

WHO YOU HIREWHAT YOU PAY

HOW YOU STRUCTURE THE ORG

HOW YOU MEASUREYOUR RISK APPETITE

YOUR PROCESSESYOUR POLICIES

YOUR TIME FRAMEYOUR CULTUREYOUR LOCATION

STRATEGY

Page 10: Innovation in big, ugly MNCs

Clarify YOUR

SCALE1

IF YOU MANAGE INCREMENTALLY IN A DISRUPTIVE MOMENT,

YOU’RE DOOMED

Page 11: Innovation in big, ugly MNCs

Clarify YOUR

SCALE1

STEP ONE: CLARIFY WHAT YOU ARE REALLY

AFTER SO THAT YOU MANAGE AGAINST THE

RIGHT REALITY

Page 12: Innovation in big, ugly MNCs

PRODUCT

INNOVATION IS

NOT THE ONLY

CHOICE

Widen YOUR

SCOPE2

Page 13: Innovation in big, ugly MNCs

Widen YOUR

SCOPE2

In the real world, product innovation

represents the minority

Page 14: Innovation in big, ugly MNCs

Widen YOUR

SCOPE2

Yet because it is seen as sexy, it is what

99% of us fixate on

Page 15: Innovation in big, ugly MNCs

Widen YOUR

SCOPE2

When there are soooooo many better,

blue-ocean, profitability-impacting

innovation opportunities

Page 16: Innovation in big, ugly MNCs

Widen YOUR

SCOPE2

ProcessBrand

Supply chainManufacturing

LegalFinancial

Human resourcePolicy

CultureStructuringAcquisitivePackaging

Page 17: Innovation in big, ugly MNCs

Widen your

scope2

IF ALL YOU SEE IS PRODUCT, YOU’RE PROBABLY MISSING THE BIG PICTURE

Page 18: Innovation in big, ugly MNCs

Widen your

scope2

STEP TWO: PUT EVERYTHING IN PLAY

Page 19: Innovation in big, ugly MNCs

R&D LABS ARE SOOOO LAST

CENTURY

Use all YOUR

TOOLS3

Page 20: Innovation in big, ugly MNCs

Use all your tools

3

CORPORATE R&D LABS ARE GOOD, BUT

DEFINITELY NOT THE END ALL

Page 21: Innovation in big, ugly MNCs

Use all your tools

3

CONSIDER DIVERSIFYING YOUR

BUDGET TO DEVELOP OTHER WAYS TO

SOURCE AND DEVELOP IDEAS

Page 22: Innovation in big, ugly MNCs

Use all your tools

3

MISTAKESUNEXPECTED CROSS-

TEAM SYNERGYACQUISITIONS

EXTERNAL ENGAGEMENT

INTERNAL ACCELERATORS

SPIN-OUTSINTERNAL

CROWDSOURCING INTERNAL

CROWDFUNDINGENTERPRISE SOCIAL

NETWORKBOOK CLUB

Page 23: Innovation in big, ugly MNCs

Use all your tools

3

STEP THREE: USE EVERYTHING, EVERYONE,

EVERYWHERE

Page 24: Innovation in big, ugly MNCs

Get dirty4

Page 25: Innovation in big, ugly MNCs

Get dirty4

INNOVATION HAPPENS IN THE WAY WE DO THE LITTLE THINGS DAY TO DAY, NOT IN THE BIG PROGRAMS

Page 26: Innovation in big, ugly MNCs

STRATEGY AND VISION ARE CRITICAL

Get dirty4

Page 27: Innovation in big, ugly MNCs

BUT SUCCESS LIES IN DAY-TO-DAY CULTURE

AND VALUES

Get dirty4

Page 28: Innovation in big, ugly MNCs

STEP FOUR: SETTING DIRECTION IS FINE,

BUT IT’S MORE IMPORTANT TO GET

DIRTY

Get dirty4

Page 29: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

Page 30: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

SPEAKING OF GETTING DIRTY, LEAN WORKS

AS WELL FOR BIG FIRMS AS IT DOES FOR

START-UPS

Page 31: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

JUST….BE LEAN ALREADY

Page 32: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

AND STOP WITH THE BIG IDEATION

PROGRAMS THAT LEAD NOWHERE OTHER

THAN DISILLUSIONMENT

Page 33: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

BE HOLISTIC

Page 34: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5

MAKE SURE YOU COVER YOUR

LANDSCAPE & LIFE-CYCLE

Page 35: Innovation in big, ugly MNCs

Be Integrated,

holistic & iterative

5STRATEGY INFRASTRUCTURE CULTURE RESOURCING

INCULCATEIDEATEINCUBATEINNOVATE

Have a plan for each quadrant

Page 36: Innovation in big, ugly MNCs

Operating models in the wild: A

QUICK CASE STUDY

Page 37: Innovation in big, ugly MNCs

VISIONBe recognized by clients & staff as a innovation leader in our market space

WHERE WE WANT TO GO

HOW WE GET THERE

OUR COMPASS

Leverage both incremental and disruptive innovation to drive client delight, excite our brand, develop new revenue streams, slash the cost base, and inspire and engage employees

APAC Innovation Program Strategic Intent (2018)

37

We define Innovation as the commercialization of ideas. Our Innovation may be small and incremental or large and game changing. Innovation is often unsuccessful, and failure must be

encouraged too. While it may be shepherded by a small group of designated evangelists, innovation must be owned by everyone at all levels or it will not become part of the firm’s DNA.

KEY OBJECTIVES• Reboot operating model to facilitate & govern process• Make a real, visible commitment – marketing messages & budget /

resource allocation• Develop and launch controlled Ideation program• Back 3-5 internal ventures• Develop open innovation program, focusing on FinTech start-ups

VALUESEngagement, Commercial, Disciplined

Page 38: Innovation in big, ugly MNCs

Ensure a fertile landscape for innovation

STRATEGY INFRASTRUCTURE CULTURE RESOURCING

GOALSDefine and communicate a clear vision of why innovation matters, where we aspire to be because of innovation, and what success means tangibly. Agree on, indoctrinate, and live out the values that drive innovation. Agree on, rollout, and monitor a practical tactical mission and plan that will help us deliver our vision.

ACTIVITIES• Define Strategic

Intent (Vision, Mission, Values) aligned to platform and business goals

• Define & execute Comms Plan

• Align operational tactical plans to strategy

• Measure / monitor strategy execution

GOALSEnsure that the environment is as conducive to innovation as possible.

ACTIVITIES• Budget and

resourcing allocation • Innovation Labs• Ideation &

Collaboration Tools• Incentives & other

policies• Physical environment

GOALSCreate a culture that encourages innovative behavior.

ACTIVITIES• Identify and coach

out derailing behaviors

• Formally celebrate / communicate success & failures

• Propagate stories / legends

GOALSEnsure that we have enough intrapreneurs with the right diversity of capabilities and in the right organizational roles (seniority & coverage) to instigate and drive change and remove staff who would derail the program.

Also, ensure that we have the right partner set and sensing processes to drive innovation from the outside.

ACTIVITIES• Organizational

Design, role definition, & diversity strategy

• Sourcing• Screening• Induction• Training• Mobility• Pruning

Page 39: Innovation in big, ugly MNCs

Support the whole innovation lifecycle

39

INCULCATE IDEATE INCUBATE INNOVATE

GOALSUse Culture, Staffing, Comms, Environment, & Infrastructure to drive day-to-day innovative thinking and behavior by empowering employees.

They can do it. They have authority to do it. They have the space and time to do it. They have the tools and training to do it. They have the organizational tolerance of failure to do it.

ACTIVITIES• Innovation Culture

stewardship• Coordinate with

staffing & leadership dev

• Innovation & collaboration tools identification & deployment

• Reporting & other communications

• Intrapreneurial coaching & mentorship support

GOALSEnsure a fluid, rapid flow of ideas from inside and outside, from top to bottom, and across the organization’s business lines and functions.

Make it easy for anyone to find out to whom new ideas should go. Provide an infrastructure that allows the organization to ponder, capture, share, filter & qualify good ideas and to save ideas that are good, but not ready to incubate.

ACTIVITIES• Manage ideation &

collaboration tools & programs (and archive)

• Problem statement definition & qualification

• Drive External Innovation (competitors, customers, universities, wild cards, etc) program, linkages, and agreements

GOALSCreate space, budget, and project management support to convert good ideas into practical prototypes and pilots.

Track, measure, and monitor projects and spend to ensure efficient and effective deliverables.

ACTIVITIES• Manage R&D Labs• Manage skunk works

projects & internal ventures

• Lobby for and manage venture budget

• Execute stage-gate and governance processes to qualify and monitor venture projects

GOALSTransform the right set of prototypes into commercial change. Launch new products to market or implement organizational change on a wide scale.

ACTIVITIES• Facilitate front-to-back

business sponsorship from ideation stage through commercialization)

• Oversee productionization / commercialization and change management

• Internal sales and marketing

• Track business benefits

Page 40: Innovation in big, ugly MNCs

How we do it – business transformation plan (sample)

40

STRATEGY INFRASTRUCTURE CULTURE RESOURCING

INCULCATE

IDEATE

INCUBATE

INNOVATE

INITIATIVES

Project A Q4 LL

Project B Q4 LL

Project C Q4 AR

INITIATIVES

Project J DONE ET

INITIATIVES

Project S Q4 ET

Project T Q4 ET

INITIATIVES

Project N DONE ET

Project O Q4 ET

INITIATIVES

Project H DONE ET

Project I Q4 ET

INITIATIVES

Project D DONE SP

INITIATIVES

Project E DONE SP

INITIATIVES

Project K DONE SP

Project L DONE ET

Project M Q4 ET

INITIATIVES

Project P DONE PS

INITIATIVES

Project G DONE KY

INITIATIVES

Project F Q4 ET

INITIATIVES

Project Q DONE PS

INITIATIVES

Project W DONE ET

INITIATIVES

Project U DONE ET

INITIATIVES

Project R Q4 ET

INITIATIVES

Project V Q4 PS

Page 41: Innovation in big, ugly MNCs

Clarify your scaleWiden your scopeUse all your tools

Get dirtyBe integrative,

holistic, iterative

Page 42: Innovation in big, ugly MNCs

Any Questions?

Page 43: Innovation in big, ugly MNCs

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Page 45: Innovation in big, ugly MNCs

IMAGES LIFTED FROM JD HANCOCK

DESIGN CONCEPT LIFTED FROM EUGENE CHENG