In a previous article, I have outlined the specifics of a framework I’ve developed for defining innovation initiatives. In short, the framework differentiates corporate innovation initiatives by focus area (internal vs external) and innovation creation (problem-focused vs opportunity-driven). The resulting 4 quadrants can be labelled as optimise, improve, create, and reinvent. This follow-up blog post focuses on the right team setup, budgeting strategies and return on investment (roi) for each quadrant.
Corporates around the world are investing in innovation hubs or labs, hackathons, silicon valley trips, agile trainings and design thinking workshops to innovate, to become more agile, customer-centred, purpose-driven, profitable, efficient or disruptive.
I wanted to know how corporates make sense of the sometimes vague topic of innovation, how they manage innovation initiatives and how they allocate funding. In my interviews with employees and leaders of corporate innovation hubs I noticed that many innovation managers struggled to describe what type of innovation they apply and why they use one particular method over others. I believe this is partly due to the lack of a model for reference. The growing number of innovation methods is adding to the confusion. Check ask-flip.com for a collection and categorisation of 565 distinct methods and tools for innovation. Here’s an attempt to craft clarity through a framework for managing innovation in corporates.
Here are my personal key takeaways from the conference (note they are my personal reflection on what I’ve learned, not the verbatim of the presenters).
In 2017 I published 10 lessons learned when building or managing innovation hubs and the feedback was overwhelming. The article was viewed by more than 10.000 people and I received emails from all over the world. Requests came from the US Airforce, startups from Kenya and Nigeria, medical corporations from Switzerland, New Zealand Universities, public sector organisations in the UK, and banks in the Middle East.
In the meantime innovation hubs are not the hot new topic anymore and many articles have been written on innovation hubs. By now most corporations have built one. Some innovation hubs are doing extremely well, but many are still falling short of expectations. People have come to realise that …
Innovation hubs – the buzzword of buzzwords. Every organisation wants one, all the big names have one. The promise sounds great – a space that fosters innovation. But do they deliver? And what differentiates successful from underperforming innovation hubs?
I helped organisations in New Zealand and Europe build, manage, and operate innovation hubs and my answer is: yes, some innovation hubs do really well. Learn from my #10 lessons learned and increase the productivity of your innovation hub.
Uber Technologies Inc, the world’s largest provider of personal transport has surely made it into the top 10 of water-cooler conversations. Digital, technology and disruption are frequently used buzzwords when telling the Uber story.
Uber was founded in 2009 and is currently present in 60 countries and more than 300 cities. Despite extensive media coverage (mostly about countries who are trying to ban Uber), few people actually understand what makes Uber successful. Even most conventional taxi drivers fail to understand how Uber manages to offer a service with drivers who don’t have a taxi licence.
Many believe it is innovative digital technology that allowed Uber to disrupt the taxi industry. It is not!
Unlike products, services are delivered over time through a series of interactions between a customer and a service provider, which we call touchpoints. Service companies are typically structured around channels e.g. digital, direct, phone etc. As a result of this the budget is also assigned in the same way. To visualise this, the below sketch shows the structure of a prototypical service company.
You might think of your work in the context of a particular channel. Important to bear in mind is that your customers don’t care about channels or how your company is structured. Every interaction they have forms their experience regardless of channels. Their interactions are driven by a specific need or goal they want to achieve.
This blog is triggered by a personal experience I recently had with a German telecommunications company. I will use my example to illustrate a common problem in the telecommunications (and service) industry and I will provide practical tips on how to fix it. The good news is that it can be fixed and that the benefits in terms of cost savings and customer experience are huge.
Briefly about my story. I signed up for DSL online at the end of September. Shortly after signing up I received an email with a pdf attached to it saying: “We need to know the number on your wall jack, please call our customer service team so installation can happen as scheduled”. Seriously?…
In a previous post I illustrated my personal experience when signing up for DSL with a German Telco. I presented a quick fix: https://www.innovate-strategy.com/blog/2017/11/19/telecos-need-to-get-serious-about-digitising-customer-journeys-the-benefits-are-cost-savings-and-a-better-customer-experience-part-1-a-quick-fix. Here is the long term solution approach:
In short: After signing-up online I received an email with a pdf attached saying that I had to call the contact centre to tell them a number printed on my wall jack. No option to send a text or email, or to fill in a form field during sign up. 10 weeks and multiple phone calls with a total wait time of …