Innovation buzzwords

of 21 /21
Disruptive, Open, and Lean: A Primer on Innovation Buzzwords 2016 SPE Conference Houston, TX Teresa Jurgens-Kowal, PhD, MBA, PE, PMP © , NPDP 23 Feb 2016 www.globalnpsolutions.com 1

Embed Size (px)

Transcript of Innovation buzzwords

PowerPoint Presentation

Disruptive, Open, and Lean:A Primer on Innovation Buzzwords

2016 SPE ConferenceHouston, TX Teresa Jurgens-Kowal, PhD, MBA, PE, PMP, NPDP23 Feb 2016www.globalnpsolutions.com1

1

23 Feb 2016www.globalnpsolutions.com2

Everyday LanguageWe use (and abuse) business termsInnovative hair salonABC Company is a disruptorCrowdsourcing the ideaRun a lean development program23 Feb 2016www.globalnpsolutions.com3

Theory and PracticeDisruptive Innovation

Open Innovation

Lean Innovation

23 Feb 2016www.globalnpsolutions.com4

Disruptive Innovation 23 Feb 2015www.globalnpsolutions.com5To cause disorder or turmoil inTo break apartSomething new or different introduced* dictionary.com definitions of disrupt, innovationCausing a market to change radically by introducinga new product, service, or program

The TheorySustaining InnovationIncumbents serve existing businessAdd features for existing customersBusiness processes support existing bizDisruptive InnovationNew entrant offers convenience or affordabilityNew market disruptorLow-end disruptor23 Feb 2016www.globalnpsolutions.com6

A Transportation Example23 Feb 2015www.globalnpsolutions.com7

Photography Example23 Feb 2016www.globalnpsolutions.com8

Applying Disruptive InnovationProbe non-users for needsCompetitive analysis Patent mappingIdentify new technologiesWatch non-related marketsForm autonomous R&D division23 Feb 2016www.globalnpsolutions.com9

Challenges in Disruptive InnovationEasiest to identify with hindsightMarket disruption can take a long timeOkay to work on sustaining innovations23 Feb 2016www.globalnpsolutions.com10

Is Open Innovation New to You?

23 Feb 2016www.globalnpsolutions.com11

Open InnovationUses external sources as well as internal sources to deliver new products, services to the market

23 Feb 2016www.globalnpsolutions.com12

Traditional vs. Open Innovation23 Feb 2015www.globalnpsolutions.com13The smart people in our field work for usNot all of the smart people work for us, so we must find and tap into the knowledge and expertise of bright individuals outside our companyTo profit from R&D, we must discover, develop and ship it ourselvesExternal R&D can create significant value; internal R&D is needed to claim some portion of that valueIf we discover it ourselves, we will get it to market firstWe dont have to originate the research in order to profit from itIf we are the first to commercialize an innovation we will winBuilding a better business model is better than getting to market firstIf we create the most and best ideas in the industry, we will winIf we make the best use of internal and external ideas, we will winWe should control our intellectual property (IP) so that our competitors dont profit from our ideasWe should profit from others use of our IP, and we should buy others IP whenever it advances our own business model

How to Use Open InnovationCo-CreationOn-Line CommunitiesLead User CouncilUniversities (e.g. 3D printing)Tournament CrowdsourcingGoldcorp $575k $3B (7 years)23 Feb 2016www.globalnpsolutions.com14

Challenges with Open InnovationConfidentialityIntellectual PropertyNeed focusWhat is the question?How can customers help?Dont underestimate data analysis23 Feb 2016www.globalnpsolutions.com15

Lean Innovation23 Feb 2016www.globalnpsolutions.com16

The LEAN MovementEliminate wasteMaximize value-added activities23 Feb 2016www.globalnpsolutions.com17L E A NR

Traditional Waterfall ProcessStage-GateWork done in stagesDecisions made at gatesProgressive elaboration of tasksOptimize investment

23 Feb 2016www.globalnpsolutions.com18

Lean Learning Cycle:Fail Fast, Fail Often23 Feb 2016www.globalnpsolutions.com19Customer NeedsEthnographic ResearchRapid ExperimentationFast Failure

Validate Concept

Disruptive, Open, and LeanFocus on the customerUnderstand market needsExperiment and iterate

23 Feb 2016www.globalnpsolutions.com20

INNOVATION BUZZWORDSFor more information

Feel free to contact [email protected]tions.comTwitter: @globalnpd281-280-8717

23 Feb 2016www.globalnpsolutions.com21