innovation myth buster at target's innovation network nov 2009

Meeting Outcomes

● Understand 5 common innovation myths

● Learn and practice simple innovation strategies

● Be ENGAGED and have FUN!

Meeting Impact

● Feel excited and confident about applying simple innovation strategies in your work

Meet Natasha, knowledge integrator

once designed and managed

products that could blow up...

loves to solve problems and help

people do the impossible…

Meet Jackie, process integrator

once started a company…

loves facilitating group process and

inspiring quality collaboration…

IN-Vision Innovation Practice

Leadership

FUNctional Frameworks for bridging the gap

from creativity to innovation

What keeps you up at

night?

● Innovation

● Functions

● Price

● Quality

● Green

● Timeless Performance

● Technology

● Personal (Emotional)

Competitive Brand Positions

Reference: Motorola’s BASP

Where is Target on innovation?

Calibration

● Where is Target?: 0 (low) to 5 (High)

FIST (0) FIVE (5)

LOW HIGH

Where are YOU on innovation?

Calibration

● Where are YOU?: 0 (Novice) to 5 (Guru)

FIST (0) FIVE (5)

Novice Guru

Only a few people can innovate

Innovation Myth #1

INNOVATION = IDEAS + ACTION THAT CREATES VALUE

Personal Professional Enterprise

Self

Family

Friends

Self

Colleagues

Clients

Vendors

Workmates

Corporation

Association

Foundation

Schools

Innovation Value Domains

Anyone can innovate

Everyone is a customer

=

Matt hates standing in line for beer Created TurboTap (faster pours)

Outcomes: Taste fresher; Installed in 60% of professional stadiums

Innovators are Integrators

http://mindfulinnovation.com/resources/

Commit to doing simple value-added

innovation activities

Download

InnovationsBYTES

10-minute practice guide

Innovation Myth #1

Only a few people can innovate

Fear factor?

How comfortable are you

exploring new ideas?

Mindset: “Notice without judgment”

On the continuum:

● 1 = Risk Avoidant

● 2 = Cautious

● 3 = Curious

● 4 = Cliff Diver

1 4

Lots of ideas is THE way to innovation

Innovation Myth #2

THE way to innovation is through a disruptive or different idea

Idea Generation

Exercise

Think of GOOD IDEAS

Think of CRAZY IDEAS

Think of STUPID IDEAS

Think of FUNNY IDEAS

What happens in your brain?

● Good Ideas – Information dump of what you know

● Crazy Ideas – Left brain

● Stupid Ideas – Right brain

● Funny Ideas – Both sides of brain (most innovative)

Reference: Business Innovation in the 21st Century by Praveen Gupta

Extent of Innovation

Good Crazy Stupid Funny

Combining two or more

ideas uniquely takes time

ThinkingTime (min)

Per Idea

Reference: Business Innovation in the 21st Century by Praveen Gupta

What stops us from discovering disruptive ideas?

1. Vision

2. Foresight

3. Stretch Goals

4. Hire Good People and Trust Them

5. Open and Extensive Communication

6. Recognize and Reward Innovation

by Dr. William Coyne past VP of R&D of 3M

Creating a Tradition of Innovation

Important to● Manage fear

and risk taking

● To be able to fail faster

Fear Factor?

Innovation Myth #2Lots of ideas is THE way to innovation

Where are you on ME to WE?

Where are you on ME to WE?

Mindset: “Notice without judgment”

On the continuum:

● 1 = Best work by myself

● 2 = Best work by myself with some collaboration

● 3 = Best work in team(s) with some by myself

● 4 = Best work in diverse team(s)

1 4

Innovation Myth #3 The BEST problem solving is typically done alone

Synergy is the energy of innovation

Activity

More

Intense

Less

Intense

Group Size1 3 5 10 18

Creating an Invention

Solving a Problem

Action Planning

Scheduling

Sharing

Information

Optimal Team Size

Reference: Team Talk: The Power of Language in Team Dynamics by Anne Donnellon

Collaboration Factor?

Innovation Myth #3 The BEST problem solving is typically done alone

Innovation is “to build a better mousetrap” of products and services

Innovation Myth #4

The Ten Types of Innovation™● Innovation category: Finance● Business model

● Networks and alliances

● Innovation category: Process● Enabling process

● Core processes

● Innovation category: Offerings● Product performance● Product system

● Service

● Innovation category: Delivery● Channel● Brand

● Customer experience

Resource: http://www.doblin.com/AboutInno/innotypes.html

VoIP for free

1.Business model

2.Enabling process

3.Core processes

4.Channel

Outcomes: 309 Million Users and $125M in 2008

Designer T-shirt contest

Designer

has idea

Submit Idea Vote by

customers

Designer wins

money and

recognition

1.Business model

2.Networks and alliances

3.Product system

4.Customer experience

Outcome: $43 M in 2008

How many types of innovation are YOU doing?

… is Target doing?

The Ten Types of Innovation™● Innovation category: Finance● Business model

● Networks and alliances

● Innovation category: Process● Enabling process

● Core processes

● Innovation category: Offerings● Product performance● Product system

● Service

● Innovation category: Delivery● Channel● Brand

● Customer experience

Resource: http://www.doblin.com/AboutInno/innotypes.html

Innovation Myth #4

Innovation is “to build a better mousetrap” of products and services

Innovation Myth #5 Figuring out the solution takes most of the innovation effort

Figuring out the PROBLEM takes most of innovation effort

95% of the effort

should be in

defining the

problem

Define

Explore

Solve

Analyze

Develop

Prepare

Execute

MOST ENTER HERE

Define

Explore

How can you do a

better job defining

the problem?Solve

Analyze

Develop

Prepare

Execute

Need “Fresher” in Frozen Foods

Joan Chow

Outcomes: 2008 3rd largest new consumer packaged goods (CPG) product at 95M

How much time and effort do YOU spend creating “White Space?”

… does Target spend?

Innovation Myth #5 Figuring out the solution takes most of the innovation effort

What will YOU do to innovate?

Questions and

Comments?

Thank You!

Presentation at http://www.slideshare.net/mindfulinnovation

Natasha TongC:612.770.7110E: ntong01@gmail.com

Jackie LevinC:612.759.7549 E: jlevin4dream@gmail.com

MINDFUL INNOVATION, INC.

www.mindfulinnovation.com