innovation in big, ugly mncs
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5 SIGNS THAT THESE ARE THE INTRAPRENEURS
YOU’RE LOOKING FOR!
ERIC TACHIBANA @ ASIAN
FINANCIAL SERVICES CONGRESS
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2 QUESTIONS
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HOW CAN A SMALL COG IN A BIG MACHINE HAVE IMPACT?
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HOW CAN A LEADER CREATE A BIG MACHINE THAT AFFORDS
OPPORTUNITY?
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5 SUGGESTIONS
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INCREMENTAL
= DISRUPTIVE
/
CLARIFY YOUR SCALE1
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CLARIFY YOUR SCALE1
MOST FIRMS TREAT INCREMENTAL &
DISRUPTIVE INNOVATION THE SAME
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Clarify YOUR
SCALE1
WHEN IN FACT, THEY’RE TOTALLY
DIFFERENT
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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
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Clarify YOUR
SCALE1
IF YOU MANAGE INCREMENTALLY IN A DISRUPTIVE MOMENT,
YOU’RE DOOMED
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Clarify YOUR
SCALE1
STEP ONE: CLARIFY WHAT YOU ARE REALLY
AFTER SO THAT YOU MANAGE AGAINST THE
RIGHT REALITY
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PRODUCT
INNOVATION IS
NOT THE ONLY
CHOICE
Widen YOUR
SCOPE2
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Widen YOUR
SCOPE2
In the real world, product innovation
represents the minority
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Widen YOUR
SCOPE2
Yet because it is seen as sexy, it is what
99% of us fixate on
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Widen YOUR
SCOPE2
When there are soooooo many better,
blue-ocean, profitability-impacting
innovation opportunities
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Widen YOUR
SCOPE2
ProcessBrand
Supply chainManufacturing
LegalFinancial
Human resourcePolicy
CultureStructuringAcquisitivePackaging
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Widen your
scope2
IF ALL YOU SEE IS PRODUCT, YOU’RE PROBABLY MISSING THE BIG PICTURE
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Widen your
scope2
STEP TWO: PUT EVERYTHING IN PLAY
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R&D LABS ARE SOOOO LAST
CENTURY
Use all YOUR
TOOLS3
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Use all your tools
3
CORPORATE R&D LABS ARE GOOD, BUT
DEFINITELY NOT THE END ALL
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Use all your tools
3
CONSIDER DIVERSIFYING YOUR
BUDGET TO DEVELOP OTHER WAYS TO
SOURCE AND DEVELOP IDEAS
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Use all your tools
3
MISTAKESUNEXPECTED CROSS-
TEAM SYNERGYACQUISITIONS
EXTERNAL ENGAGEMENT
INTERNAL ACCELERATORS
SPIN-OUTSINTERNAL
CROWDSOURCING INTERNAL
CROWDFUNDINGENTERPRISE SOCIAL
NETWORKBOOK CLUB
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Use all your tools
3
STEP THREE: USE EVERYTHING, EVERYONE,
EVERYWHERE
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Get dirty4
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Get dirty4
INNOVATION HAPPENS IN THE WAY WE DO THE LITTLE THINGS DAY TO DAY, NOT IN THE BIG PROGRAMS
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STRATEGY AND VISION ARE CRITICAL
Get dirty4
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BUT SUCCESS LIES IN DAY-TO-DAY CULTURE
AND VALUES
Get dirty4
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STEP FOUR: SETTING DIRECTION IS FINE,
BUT IT’S MORE IMPORTANT TO GET
DIRTY
Get dirty4
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Be Integrated,
holistic & iterative
5
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Be Integrated,
holistic & iterative
5
SPEAKING OF GETTING DIRTY, LEAN WORKS
AS WELL FOR BIG FIRMS AS IT DOES FOR
START-UPS
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Be Integrated,
holistic & iterative
5
JUST….BE LEAN ALREADY
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Be Integrated,
holistic & iterative
5
AND STOP WITH THE BIG IDEATION
PROGRAMS THAT LEAD NOWHERE OTHER
THAN DISILLUSIONMENT
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Be Integrated,
holistic & iterative
5
BE HOLISTIC
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Be Integrated,
holistic & iterative
5
MAKE SURE YOU COVER YOUR
LANDSCAPE & LIFE-CYCLE
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Be Integrated,
holistic & iterative
5STRATEGY INFRASTRUCTURE CULTURE RESOURCING
INCULCATEIDEATEINCUBATEINNOVATE
Have a plan for each quadrant
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Operating models in the wild: A
QUICK CASE STUDY
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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
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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
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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
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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
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Clarify your scaleWiden your scopeUse all your tools
Get dirtyBe integrative,
holistic, iterative
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Any Questions?
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IMAGES LIFTED FROM JD HANCOCK
DESIGN CONCEPT LIFTED FROM EUGENE CHENG