Business Model Innovation | Lynch

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p. 1 Business Model Innovation Lab Four New Opportunities that require new Business Models for the Life Science Industry and Implications for Your Industry

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John Lynch of Four New Opportunities that require new Business Models for the Life Science Industry and Implications for Your Industry

Transcript of Business Model Innovation | Lynch

p. 1

Business Model Innovation Lab

Four New Opportunities that require new Business Models for the Life Science Industry and Implications for Your Industry

The 4 Uncontrollable Drivers of Innovation

Competition

Technology Regulation

Customers/ Consumers

3

Millipore History

$Bn/yr

In Pursuit of Breakthrough Innovation

Diagnostic

Alignment

October

White Space

October

Envisioned Future

Opportunities

Funding Breakthrough

The Case for Breakthrough Innovation

 Executing on breakthrough innovation is critical to the long-term relevance of EMD Millipore to our customers. Breakthrough innovation will help drive profitable revenue growth above market rates, making us attractive as an employer and as an investment and more valuable for our customers

  The initiative focused on breakthrough innovation only. Breakthrough Innovation generally involves new business model. (Continued focus on actions that sustain the business as well as incremental innovations remain very important.)

 Company-wide alignment around the terminology of innovation is critical.

Innovation Sweet Spot

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Corporate Will (Strategic Agenda)

Strategic Competencies (Assets, Resources, Technologies)

Marketplace Opportunities (Emerging Trends & Unmet Needs)

This is even harder with a fuzzy, changing and disconnected system.

Finding Your New Growth Platforms in the Sweet Spot

How Competency Analysis

What/Where Deep Market Exploration

Why Executive Leadership

Millipore Future Pull Program Flow

Future Pull  Together, we identified 7 Future View Scenarios that will change our world SR1: R&D spending is

becoming a global investment regardless of the funding center

and a negative balance of trade for

the U.S.

Opportunity 1

So What?

Envisioned Future

PW

G

IB

Opportunity 2

Opportunity 3

Opportunity 4

Opportunity 5

Implications for our

business?

1. If this is our world in the future…

2. Then who must we be to succeed? (Envisioned Future)

3. And what are the opportunities for growth this indicates?

Finding Your New Growth Platforms in the Sweet Spot

How Competency Analysis

What/Where Deep Market Exploration

Why Executive Leadership

A Proven 5-Phased Innovation Process

1. Direction

2. Discovery

3. Invention

4. Incubation

5. Implementation

Future Pull Market exploration is a data intensive journey.

1. Direction

2. Discovery

3. Invention

4. Incubation

5. Implementation

Focal Areas & Project Plan

Nuggets

Business Visions

Vetted Business Plans

Kickoff & Training

FileFacts™ & Mind Mining

Expert Tease™

40+ Lab Crawls

Nuggetizing™

Weekly War Room

TechMax™

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…and you need a process for synthesizing to high level concepts.

Nuggets

…AHA!

Information Insights

Wishes

Testable Consumer Concepts

“I Wish….”

Nuggets

Finding Your New Growth Platforms in the Sweet Spot

How Competency Analysis

What/Where Deep Market Exploration

Why Executive Leadership

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Competencies Framework

Current Technologies

Current Competencies

With well defined and supported business visions, we begun the process of building

something really new.

New Competency New Competency 3

New Competency 1

New Technology 2

New Technology 1

Today

Future

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Platform 1 Platform 4 Platform 3 Platform 2

Breakthrough Innovation Requires New Skills… so what did we learn along the way?

Innovation Thinking, Culture and Leadership

1.  4 Drivers of Innovation

2.  Innovation Sweet Spot and Corporate Will

3.  Aligning the Organization

4.  9 Critical Success factors of Innovation

5.  “Designing” an Innovation Team

6.  “Skate to the Puck”

7.  Open Minded Evaluation (OME)

8.  “Championed Teamwork”

9.  Dynamic Innovation Organization

10.  Communication, Communication, Communication

Market Discovery and Business Invention

1.  War Room

2.  War Games

3.  “Trend Scouting” / Lab Crawls/ Expertease/ Tech Max/ Future Foresight

4.  Mind Mapping and Connection Making

5.  Mind Mining for Insights

6.  Info, Info, Info → INSIGHTS →NUGGETS

7.  Competency mapping

8.  Opportunity Space and Ownable Whitespace

9.  Business Model Invention, Concepts, Visions and Mapping, Platforms

10.  External Sounding Boards 20

Take Aways

  The importance of business model innovation even when business is good

  Finding Your Innovation Sweet Spot