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Innovation DNA

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The Churchill Club runs many different events that are well worth attending.
(They “connect Leaders, Ideas and Outcomes”)

Here is a short report on a recent session… Innovation DNA – 19 Feb, 09

Wes Sonnenreich - Director of Innovation at Deloitte
Roger La Salle - Chair of Innovation, Queens University in Belfast
Crispin Blackall - Director, Business Operations at Telstra

A Definition first - Innovation is change that adds value.

Why Innovate?

Because markets constantly evolve whether it is obvious or not and innovation is the only strategy to continue to compete.

How to come up with an innovation?
- So find something that's already working and do it better.

- Look at your Products, Processes and Services (you  don't have to invent the next big thing)

- Finish the sentence - I wish this product would.................

Lessons on Successfully Delivering Innovation

- Have a clear, well defined strategy.

- Use small teams with the right people and enable them to make decisions.

- Clearly identify what success looks like at each stage (gates for continuing the project).

- Use only the processes needed for that innovation (don't stifle people).

- Don't stop before the innovation is delivered as you will destroy the team.

So how do you get Innovation DNA in your organisation?

Step 1 - Build a culture that understands what innovation is and values it.

Step 2 - Enable your your team to come up with ideas.

Step 3 - Build a pipeline of Ideas and processes to manage it.

Step 4 - Build processes to deliver the innovations.

Step 5 - Provide feedback and ongoing guidance.

Selecting Innovation Metrics

The easiest Innovation metric is to say that in 12 months time, 20% of our revenue will come from products and services that don't currently exist.

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