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Factors of Innovation

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Presentation to 180 Degrees Consulting Annual Conference (APAC).

Covers:
- Defining exactly what innovation is.
- Design thinking as a process for innovation.
- 7 key factors for innovation.
- Potential approach for innovation within charitable and philanthropic organisations.

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Factors of Innovation

  1. 1. Hello
  2. 2. Samuel Tait Managing Partner, I/O /in/samueltait @samuel_tait welcometo.io 3
  3. 3. Samuel Tait Managing Partner, I/O /in/samueltait @samuel_tait welcometo.io 4
  4. 4. Factors of Innovation 180 Degrees Consulting - Annual Conference Sunday 26th February, 2017 6
  5. 5. Purpose What is innovation? 2 core drivers of innovation. 7 key factors of innovation. 7
  6. 6. The real question? Can factors of business innovation be used within not-for profit and social enterprises? 8
  7. 7. Creating a common ground What is innovation? 9
  8. 8. “Innovation effectively is the process of technological change… the thing to really understand is that innovation is a process not a thing. The thing, the outcome of innovation, is the invention. Innovation is deeply associated with business processes, business models and all the different aspects that combine towards creating a new product or service.” Dr James Moody PhD, Innovation Theory Founder: Sendle Author: The Sixth Wave: How to succeed in a resource limited world 10
  9. 9. – Mark Payne - Founder, Fahrenheit 212 “Innovation being synonymous with growth. Companies that aren’t innovating aren’t growing.” 12
  10. 10. A starting point Two core drivers of innovation. 14
  11. 11. “If you don’t execute you can’t call it innovation.” 19 – S. Ellis Tait
  12. 12. 1. Insights • The faculty of seeing underlying truths, specifically those that shed light on or helps solve a problem. 20
  13. 13. INSIGHTS
  14. 14. 2. Operations • Controlling the process of production and redesigning how a business delivers and produces goods or services. 23
  15. 15. OPERATIONS
  16. 16. INSIGHTS OPERATIONS+ PROCESS FOR INNOVATION
  17. 17. –Helen Walters, Fast Company “A codified, repeatable, reusable practice contradicts the nature of innovation, which requires difficult, uncomfortable work to challenge the status quo of an industry or, at the very least, an organisation.” 26
  18. 18. Journey before destination What are the key factors of successful business innovation? 27
  19. 19. 28
  20. 20. Key Factors of Innovation Key factors from “Innovation Inside” interview series: 1. Crisis 2.Examination 3.Diversity 4.Collaboration 5.Creativity 6.Adjustment 7.Resilience 29
  21. 21. 1. Crisis Definition • any event that is, or is expected to lead to, an unstable and dangerous situation affecting an individual, group, community, or whole society. • a stage in a sequence of events at which the trend of all future events, especially for better or for worse, is determined; turning point. 30
  22. 22. Crisis Crisis drives innovation • Crisis provides a compelling reason for action - you can’t run away from a crisis Examples • War > Nuclear weapons • Climate change > Renewable energy • Global financial crisis > ?? 31
  23. 23. Crisis @ LEGO •In 2004 the company almost went bankrupt. •Sales fell around 30% in 2003. •The company was running a negative cash flow of DKr 1 billion (US$160 million). •Total debt had reached DKr 5 billion (US$800 million). 34
  24. 24. “We are on a burning platform, losing money with negative cashflow and a real risk of debt default which could lead to a break up of the company.” Jørgen Vig Knudstorp, CEO. Report to management, 2003. 35
  25. 25. 2. Examination Definition • To observe carefully and critically • To inquire into and investigate 37
  26. 26. Examination • What are the goals and objectives for my business? • What changes are happening in my industry and how will they affect my company? • Do we need to change something to achieve our objectives? • What would happen if we were to explore new opportunities? 38
  27. 27. Proven In-Service Personal Equipment for all Tactical and Protective Needs Since Supporting Australian Soldiers 39
  28. 28. Australian Defence Apparel (ADA) “ADA has a very long history. But our suppliers, from even two years ago, may no longer be strategically relevant for our business. You've always got to apply scrutiny as to whether your partnerships are viable, and whether they're focused, and that you've both got the same vision.” Darren Swindells General Manager, Strategic Product & Innovation ADA 40
  29. 29. 3. Diversity Definition • the inclusion of individuals representing more than one national origin, color, religion, socioeconomic stratum, sexual orientation, etc. • a point of difference. 41
  30. 30. Diversity • Different viewpoints working on the same problem. • Different backgrounds bring different ways of solving a problem • Diversity unlocks innovation by creating an environment where “outside the box” ideas can be heard 42
  31. 31. 43
  32. 32. Canva “Diversity is important in all our people. In our marketing team not only are they diverse in themselves but their particular skill set is entirely different from our engineers, who are entirely different to the people that make up our customer happiness team. That eclectic nature is what makes our company strong. We need people thinking in different ways to handle all the different aspects that we are required to handle to be a successful startup company.” Melanie Perkins, Founder & CEO Canva 44
  33. 33. 4. Collaboration Definition • to work, one with another; cooperate, • working with others to do a task and to achieve and realise shared goals • to work together (relationships) toward (process) something in common (outcomes). 45
  34. 34. Collaboration • I know what I don’t know • Teamwork is essential to getting things done. • Collaborating with partners, suppliers, customers and other stakeholders to find a solution. • Innovation IS a collaborative pursuit 46
  35. 35. 47
  36. 36. Google “Collaboration is so ingrained in the way that we do things. Any time we want to try and do new things, one of the huge elements we talk about is what potential partnerships can we put into play here? How can we work with others to get this out into the real world in an interesting way? We have great products and great platforms. Sometimes the best stuff happens when we are just the platform and we give over the creativity and expression to others to use.” Lee Hunter, Head of Marketing Innovation, APAC Google 48
  37. 37. 5. Creativity Definition • the ability to transcend traditional ideas, rules, patterns, relationships, or the like, and to create meaningful new ideas, forms, methods, interpretations, etc.; originality, progressiveness, or imagination: 49
  38. 38. Creativity • The ability to think outside the box • unleashing the potential of the mind to conceive new ideas, new ways of doing things and innovative solutions • to perceive the world in new ways, to find hidden patterns, to make connections between seemingly unrelated phenomena, and to generate solutions 50
  39. 39. 51
  40. 40. Pernod Ricard “I mentioned our Th!nkCreativity Lab. It's an opportunity for us to instil a culture of creativity in our business, this is what is going to drive long- term change in innovation for our business. Every innovation starts with an idea. This training allows managers to drive and organise ideation sessions, around anything from the name of a new wine to the development of the launch assets.” Gwenola Hanaut, Innovation Director Pernod Ricard Winemakers 52
  41. 41. 6. Adjustment Definition • to change (something) so that it fits, corresponds, or conforms; • to adapt or to correct to achieve a desired outcome 53
  42. 42. Adjustment • Constantly testing hypothesis and reviewing the results to see if we are on track or off track in achieving our goal • Test / Fail / Learn or “Failing Fast” is THE process of adjustment • When results are not what we expected we change tack. 54
  43. 43. 55
  44. 44. Mirvac “We don't want to take ideas away to perfect them in isolation, and then receive a rude shock when we unveil it to the customer. It's a continual process. We call it ‘experimenting’, and it’s based on lean startup methodology. This involves identifying the key assumptions that underlie an idea and going out to test them with those front line customers. This is a new methodology for our business and we are just learning how best to do this.” Christine Gilroy, Group General Manager, Innovation Mirvac 56
  45. 45. 7. Resilience Definition • the process of overcoming (and ability to recover from) stress and adversity • perseverance for long term goals 58
  46. 46. Resilience •Achievement is the product of effort, a function of the intensity, direction, and duration of one’s exertions towards a long-term goal. •Not giving up when the results of our activities are not what we hoped. •A business’s ability to adapt and evolve in response to short term shocks and at the same time shape itself to be able to respond to long term challenges. 59
  47. 47. 60
  48. 48. BlameySaunders “Most CEO's of companies (particularly one’s that didn't own the company), would have checked out at that point. Whereas, we didn't. I thought, ‘Oh, damn. Our supplier has gone bankrupt. Better get on the road and find another one.’ Things are going to happen. Things are going to keep happening. The universe throws things at you. If the wind stops blowing get out the oars.” Elaine Saunders, Founder BlameySaunders Hears 61
  49. 49. Key Factors of Innovation Key factors from “Innovation Inside” interview series: 1. Crisis 2.Examination 3.Diversity 4.Collaboration 5.Creativity 6.Adjustment 7.Resilience 62 }ORGANISATIONAL CULTURE
  50. 50. Starting the journey Can we use these same process to drive innovation within not-for- profit and social enterprises? 63
  51. 51. Finding our feet What is the role of innovation when viewed from a charitable and philanthropic perspective? 64
  52. 52. Charity :an organisation set up to provide help and raise money for those in need. 65
  53. 53. Philanthropy :an altruistic concern for human welfare and advancement. 66
  54. 54. Philanthropy vs. Charity charity aims to relieve the pain of a particular social problem, whereas philanthropy attempts to address the root cause of the social problem, “the difference between the proverbial gift of a fish to a hungry person, versus teaching them how to fish.” 67
  55. 55. Philanthropic Finding a new solution that eradicates the root cause of a problem. 68
  56. 56. Charitable 69 More efficient business processes and revenue generation, focusing on: 1. Enabling more money to be raised . 2. New ways of raising money. 3. Helping more people per $1 spent.
  57. 57. INSIGHTS OPERATIONS+ PROCESS FOR INNOVATION
  58. 58. EFFECTIVENESS EFFICIENCY+
  59. 59. ?
  60. 60. 73 “Could we split the Double Diamond process to support the different objectives of Philanthropic and Charitable organisations within the not-for-profit sectors?”
  61. 61. PHILANTHROPIC CHARITABLE+ ?
  62. 62. Over to you Questions? 75
  63. 63. Cheers! 76 Thank you welcometo.io Suite 807, 46 Kippax St Surry Hills, NSW, 2010 Call us. Phone: +61 (0)473 197 713 samuel.tait@welcometo.io
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Presentation to 180 Degrees Consulting Annual Conference (APAC). Covers: - Defining exactly what innovation is. - Design thinking as a process for innovation. - 7 key factors for innovation. - Potential approach for innovation within charitable and philanthropic organisations.

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