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Driving Innovation:

Driving Innovation:. Hear about the current status on innovation, frameworks being utilized to groom foster and develop impact to an organization. Karthik Subburaman Oct 19, 2015. “Never before in history has innovation offered promise of so much to so many in such a short time”

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Driving Innovation:

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  1. Driving Innovation: Hear about the current status on innovation, frameworks being utilized to groom foster and develop impact to an organization Karthik Subburaman Oct 19, 2015

  2. “Never before in history has innovation offered promise of so much to so many in such a short time” - Bill Gates

  3. What is Innovation? • Innovation can take the form of a new product or service offered to clients or a new process through which an organization develops products or delivers services. • Innovation can also be anything that is state-of-the-art and also anything which is new to the organization.

  4. Why Innovation? Source: Research Study by HfS

  5. Innovation – Types & Needs “CEO’s today face mounting pressure to innovate, yet finding ways to actually enable innovation remains a challenge for many” • Provides significant operating margin growth • Differentiates from rest of the pack and signifies change • Typically a phenomenon when successful Business Model Product / Service / Market • Focuses on delivery model innovation / new market penetration / partnerships for promotion • Not a day-to-day innovation Operational • CEO’s ranked top of priority lists* • Drives efficiency / effectiveness in products & services Source- Research Study by IBM

  6. Operational Innovation – An Illustration “Workers have 40 seconds to load crates of dabbasonto trains at major stations & just 20 seconds at interim stops. ” Simple Codes Culture - Shared Identity Buffer Capacity Simple Mission Adherence Frugal Innovation 5,000 Dabbawalas 130,000 Lunch boxes 2X Transactions 0 Errors Delivery cost @ 7 USD / month / customer Self-organized democracy

  7. Generations of BPO Source: Next Generation BPO: Are you Ready?, Accenture

  8. BPO Innovation – A Perception Source: Research Study by HfS

  9. BPO Innovation –Challenges Source: Research Study by HfS

  10. BPO Innovation – Gaps / Opportunities Source: Research Study by HfS

  11. Lean Six Sigma for Innovation? Quality & Efficiency Leads to continuous improvement Supports collaborative innovation Leads to continuous improvement Is this the answer?

  12. Lean Six Sigma vs. Innovation? Eliminate Variability & Waste Introduce Variability when it creates preference Tolerate cost if corresponding preferences outweighs Minimize Cost Map customer journeys Map Process Explore important questions and small number to uncover possibilities Rely on large numbers for certainty Arbiter – Customer Behaviour Arbiter – Process Capability

  13. Enabling Innovation 1. Build Idea Pipeline Lay the Foundation Create a Challenge Book Build Participation Experiment Low Cost at High Speed GO Fast from Prototyping to Incubation Iterate Business Model Build an Innovation Sandbox Create a Margin of Safety 3. Increase Batting Average 2. Improve Idea Velocity Source: 8 Steps to Innovation – Going from Jugaad to Excellence

  14. Enabling Innovation • Lay the Foundation • Idea Management • Buzz Creation • Training and Development 1. Build Idea Pipeline • 2. Create a Challenge Book • Curiosity and Problem Consciousness • Feel the pain. Sense the wave. See the waste. • 3. Build Participation • Role Model • Community of Practice • Innovation Catalysts • Rewards and Recognition

  15. Enabling Innovation Experiment Low Cost at High Speed 2. GO Fast from Prototyping to Incubation • 3. Iterate Business Model • Who is our customer? • What do we offer them? • How do we reach them? • How do we make money? 2. Improve Idea Velocity

  16. Enabling Innovation • Build an Innovation Sandbox • 2. Create a Margin of Safety 3. Increase Batting Average

  17. Enabling Operational Innovation LSS Lean Six Sigma SIfT Systematic Innovation for Teams • Optimization • Sustainable Growth + Promote and ensure strong factual basis for implementing any creative ideas Deploy a cross-functional approach to problem resolution & guide users through sensing, understanding, deciding & acting in ways to create value DEFINE MEASURE ANALYZE IMPROVE/ CONTROL Must incorporate creativity into the operational process excellence initiatives! – to come up with improvement opportunities SIfT Take into account the “Business Voices” and balance them out to ensure optimal results

  18. Managing Innovation – A Structured Framework

  19. Innovation – Key Drivers While most companies in the industry have mastered the art of efficiency, integrating innovation into the scheme of things is the challenge. Some key pointers to make the process easier… An Innovation vision based on factual customer and market insights Leadership committed to perpetual innovation Alignment across the extended enterprise Organizational capabilities that make innovation habitual

  20. Key Questions to Ask Yourself… Do you have a clear vision of where you want your company to be in two years? In five years? In ten years? How closely tied is this vision to the needs of your current and target customers? And is your understanding of these needs based on actual assessments or assumed information? Will this vision require innovations in your business model? In your products or services? In your markets? What will you need to do at the operational level to enable and drive these innovations? To support innovation, what changes will be required to your management approach, organizational structures, metrics and skills?

  21. INNOVATION EFFICIENCY & EFFECTIVENESS What are We Really Looking For… PRIORITY??? 2 1

  22. Efficiency & Effectiveness Innovation: Innovation: Innovation: E&E vs. OI – A Fairplay? SCENARIO 1: YES NO Undesirable & Unsustainable SCENARIO 2: NO YES Efficiency & Effectiveness Unsustainable & Improbable SCENARIO 3: Efficiency & Effectiveness YES YES IDEAL

  23. “If you do what you’ve always done, you’ll get what you always got!” - W. Edwards Deming

  24. Thank you! Questions?

  25. Trends in Outsourcing • Pioneers and new entrants gain attraction in the robotic process automation/autonomics space. • More BPO movement onshore and nearshore. • Mature client-outsourcer relationships will lead to a gradual shift. • Customer contract center services reach higher levels of sophistication. • BPOs engage the midmarket for opportunities.

  26. Trends in Outsourcing • The mobile-app-for-business revolution is about to begin. • Healthcare revenue cycle management gets reinvented. • With another big player providing public cloud services, look for BPaaS to boom. • Business continuity and disaster recovery plans are closely reviewed. • The Request for Proposal (RFP) gets a makeover.

  27. BPO Innovation –Key Elements Source: Achieving High Performance in BPO, Accenture

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