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Build an Innovation Engine

There is a way to make innovation more systematic   without massive investments and restructuring. Know how a company can build a “minimum viable” innovation function, in just three months.<br>

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Build an Innovation Engine

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  1. Build an Innovation Engine in 90 Days

  2. 4 Steps to a Viable Innovation System DAY 1 DAY 1- -30 Define Your Innovation Buckets Define Your Innovation Buckets 30 DAY 20 DAY 20- -50 Zero In on a Few Opportunities Zero In on a Few Opportunities 50 DAY 20 DAY 20- -70 Form a Small Development Team Form a Small Development Team 70 DAY 45 DAY 45- -90 Create a Way to Shepherd Projects Create a Way to Shepherd Projects 90

  3. After three months, What you will have is an efficient way to identify the right ideas and develop them.

  4. STEP 1 STEP 1 Define Your Define Your Innovation Innovation Buckets Buckets  Core vs Growth

  5. Understanding the Differences Core Follow current strategy New Growth New Growth Push frontier of strategy Offer rapid returns Offer long-term returns Managed by main business Managed outside main business

  6. Assess Your Growth Gap and Determine How to Fill It The larger your growth gap is, the further from the core your innovations will need to be, and the longer it will take to realize revenue from them. Projected growth from current operations Long-term growth goals

  7. STEP 2 STEP 2 Zero In on Zero In on a a Few Few Strategic Strategic Opportunities Opportunities  Do your research

  8. 1 2 3 Meet with a Meet with a Dozen Dozen Customers Customers Explore Explore Unmet Needs Unmet Needs Hold a Hold a Workshop Workshop

  9. STEP 3 STEP 3 Form a Small Form a Small Development Development Team Team  One in a team must be thinking about innovation.

  10. 1 2 3 Dedicate a Dedicate a Few Few People People Free Up Free Up Resources Resources Develop a Develop a Process Checklist Process Checklist

  11. A Sample Checklist A Sample Checklist Customer interviews Plan to make money Industry review Plan to test uncertainties Clearly defined customer Low fixed costs Compelling advantage Rapid prototype Detailed description of business

  12. STEP 4 STEP 4 Create a Create a Way to to Shepherd Shepherd Projects Projects Way  Manage strategic uncertainty

  13. Set Up an Oversight Group 1 2 3 STOP START REDIRECT

  14. Establish Oversight Guidelines 1 2 3 Assign a C Champion hampion to each project Set spending thresholds Tie further investment to milestones

  15. Next Steps Next Steps • Connect to formal systems? • Create special functions? • Identify organizational barriers?

  16. Final Advice Final Advice • Do everything or nothing. • Don’t skimp on personnel. • Don’t avoid failure.

  17. Thank You Thank You You can contact us at 00966 56 100 4748 info@dtechsystems.co www.dtechsystems.co

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