Innovation is the process of translating an idea into a good or service that satisfies a specific user need, creating value for which customers will pay. The process involves the deliberate application of information, imagination and initiative.
In today’s fast-changing business world, enterprises are rediscovering Innovation as a strategic imperative for survival and growth. Some are even establishing dedicated corporate centres such as the EDF Energy Blue Lab, which I co-founded, establishing and leading the Connected Homes business.
Let’s bring Innovation into your business together
Companies can benefit from tried and tested processes for Innovation management in order to kickstart their Innovation journey. However, as with Digital Transformation, success depends on each organisation’s ability to embrace, resource and execute the activities needed to embed Innovation into the corporate DNA.
Drawing on my extensive experience leading Innovation in the real world, I will help you set up the right Innovation capability for your business: finding and enabling internal innovators, partnering with startups, and exploring ventures; as well as scaling up successful innovations into profitable services or whole new businesses.
Creating an Innovation capability
Discover
Identify opportunities, issues and needs across your company, your market and your customers
- Team interviews and contextual enquiry (observation)
- Stakeholder interviews
- Market research
- Customer research
Define
Agree on scope, establish success measures and specify requirements
- Define the opportunity space
- Evaluate options for setup, organisational design, processes and tools
- High-level budget, resources and ROI
Design
Work out the details for your Innovation capability
- Set up innovation leadership and governance
- Establish innovation model – independent, embedded or pervasive
- Develop processes and toolkit
- Prototype innovation capability – test-driving the model while delivering quick wins
- Develop a comprehensive training and communications program
Deploy
Launch your Innovation capability at scale
- Kick off your Innovation governance
- Train your company’s leadership
- Create/source innovation hubs, tools and methods
- Recruit/appoint innovators
- Train your innovators
- Launch your first wave of initiatives
- Integrate your first successful innovation into the business
- Collect data about all aspects of your innovation operation at scale
Iterate
Use the data gathered along the way to continuously improve your Innovation capability
Contact me to find out how I can help your Innovation
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Corporate Innovation in 2022 – from Products to Ventures
