ENTERPRISE INNOVATION IS CRITICAL FOR AN ORGANIZATION’S RESILIENCY.
We specialize in activating innovation in established organizations. Enterprise Innovation, sometimes referred to as intrapreneurism, is similar to, but differs from entrepreneurism in start-ups. Enterprise Innovation is defined as the consistent application of new and unique ideas that support the firm’s corporate & business strategies and create stakeholder value. By focusing on the key aspects of this definition, the innovation capability becomes critical to strategically transforming companies which are attempting to change the way in which they compete in their disrupted industry.
WE HAVE DONE THIS BEFORE: CASE STUDIES & QUALIFICATIONS.
Advised one of the world’s largest financial institution’s leadership on how to adjust their innovation program including program structure, eliminating pitfalls, and better communicating the value of collaborative innovation.
Established the innovation capability for a market leading insurance company. Then supported the launch of consumer- and employee-facing technology innovations intended to capitalize on emerging connected technology trends. (See Press Release)
Created and helped position to the board the digital innovation group’s multi-year business plan for one of the country’s largest energy companies. Assisted in operating the innovation function and managing proof-of-concepts for 24+ months.
Operated a Global Fortune 100 company’s full-scale innovation function inclusive of ideation and portfolio management, process management, research and testing, business planning and implementation handover.
WE DRIVE SUCCESS THROUGH THE ENTIRE INNOVATION LIFECYCLE.
Many companies struggle with introducing or deriving value from their innovation efforts. They simply play “Innovation Theater”. Defining innovation and making it fit within an organization requires a strong linkage with those in the firm that control the firm’s corporate and business strategies (front end of process) and the corporation’s execution and operations groups – often a PMO or Project Organization (back end of the process). Our services bridge from the front end to back end of innovation. See Figure 1 for a view into this overall process and where we focus.
HOW WE OFTEN ASSIST CLIENTS IN ESTABLISHING AND DRIVING INNOVATION.
Our expertise is often grouped in four broad categories of Innovation Services. These services have been shaped through our collective experience sponsoring and running innovation programs at public Fortune 500 companies, consulting to private SMB organizations, as well as advising startup leadership through accelerators and the venture capital backed programs.
Like many leaders, you may not be sure what an innovation function ‘is’ in the context of your organizations – or if you should even be considering formalizing innovation at all. In this scenario, our engagements goals are to:
- Align on a common definition of innovation
- Confirm innovation capability & program structure
- Identify and flush out potential pitfalls
- Establish innovation goals and intended value
You likely need to consider how to build a new capability, not just adjust what you already have. In this scenario, our engagements goals are to:
- Define innovation, its agreed purpose, and fit to corporate / business unit strategy
- Design an innovation governance approach (e.g. Centralized/decentralized, process, etc.)
- Design and launch the portfolio of innovation projects (e.g. ideas, prototypes, PoCs, and pilots)
- Establish a diverse set of sources of ideas, including internal, partner, and corporate venture capital programs
- Facilitate an innovation toolset in order to manage and scale efforts
Many times, we work with clients who have an innovation function established but who need support in developing breakthrough ideation and stronger strategic fit. In this scenario, our engagements goals are often to:
- Ensure linkage of innovation efforts to key firm strategies and market disruption
- Breathe life into innovation programs by running ideation events and programs
- Demonstrate innovation by running prototypes, proofs of technology, and proofs of concepts on behalf of the innovation team
- Establish unique innovation projects that span traditional boundaries focusing on ecosystem-wide innovation and customer-centric experiences
We often continue on in a retained capacity to support our clients in operating their innovation function until they have a team assembled and trained to operate it. In this scenario, our engagements goals are to:
- Teach how to “do” innovation by introducing innovation tools and techniques for successful roll out and expanding of an innovation program
- Run technology proof of concepts and support the innovation portfolio
- Manage the full-scale innovation process, program, and team operation
- Implement new technologies at the enterprise scale