10 Types of InnovationMetamorph Consulting Group

Allow me to Introduce Myself

● My name is Simon Maselli

● General Manager of Metamorph

● Background in Engineering & Manufacturing

● Internationally Experienced Consultant

Metamorph Consulting Group

● Management Consultants specialising in Innovation

● Get more out of Human Resources and Physical Assets

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● Singapore 2012 – Our Story

First Things First

● Is there anyone having technical difficulties?

● Will be Fast Paced … Share insight from Workshop

● A number of Polls – Do you see it?

● What do you want to get out of this Webinar?

The Science of Innovation

● Its not New ● Clayton Christensen ● Peter R Drucker ● Michael Porter

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● Doblin (Larry Keely)

1998 - 3000 “Successful Innovations” analysed

Innovation Practically

• Our Experience (Especially Mid-Level) ● Really Poorly Understood

● Managed Even Worse

● Hard Wired to think about Products & Technology

● You can read a book, attend a seminar – Good start

Innovation Mostly Fails

● It Doesn’t need to – Only if you let it!

● Rarely Fails due to a lack of Creativity ● Almost Always because of a lack of Discipline

● The most certain way is to focus on Products

● Successful Innovators use multiple types of Innovation

Product Performance

● Address the Value, features and quality of offerings

● Entirely New Products & Line Extensions

● Usually Highest Effort & Spend

● Usually Lowest ROI

● Easiest Copied – Competitive Parity

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● Intel Pentium Microchips – Moores Law

Product System

● How individual products and services connect

● Bundles to create a robust & scalable system

● Interoperability, modularity, integration.

● Build Ecosystems that captivate customers and defend

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● Microsoft Office

Channel

● How you connect your companies offering to Customers

● E-commerce has had a significant influence

● Often complimentary to bring offerings to customers

● Goal is to ensure users can buy, what when and how they want.

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● Bbox (Melbourne Based)

Brand

● Innovation to ensure customers remember, recognise and prefer your brand

● Distill a promise to attract buyers and convey identity

● Carefully crafted strategies to engage multiple touch points between customer & brand

● Transform commodities into prized products

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● Richard Branson (Virgin)

Customer Engagement

● Understanding Insight about Users aspirations and transforming this into meaningful connections

● Provides broad avenues for exploration – how do you make consumers lives more meaningful?

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● Harley Davidson

Service

● Ensure and Enhance the performance and perceived value of your offering

● Make the product easier to use and try

● Reveal functions that may otherwise be overlooked

● Elevate average products to exceptional experiences

● Get Consumers coming back again and again.

!● Fedex

Structure

● Organising company assets (hard, human and non-tangible) in unique ways to create value.

● Great for Improving Fixed Costs and Corporate Functions

● Human Resources, IT, Research & Development

● Attracts talent and encourages superior working environments for improved performance.

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● Hawk & Hound

Process

● Primary Process that produces core offering

● Screw Business as Usual

● Develop Unique Capability, Function Efficiently, Adapt Quickly and Develop Market Leading Margins.

● Special Sauce that can’t be copied (opposite of product)

● Patents and Proprietary Systems developed over time

!● Metamorph

Networks

● Take advantage of other companies process, technology, channels, offering and brands.

● Capitalise on own strength while harnessing others

● Share risk in new offerings and ventures

● Formed between allies or even competitors

● Brief or long lasting

!● One Stop Electrical

Profit Model

● Convert offering and other sources of value into cash

● Good ones understand what consumers actually value and where new opportunities might lie.

● Challenge industry assumptions about what to offer, what to charge and how to collect revenue.

● Long Lasting – often becomes standard for decades

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● Dell

Volume of Innovation Effort

Go Beyond Products

● Stand in any Isle of your supermarket ● Toothpaste – 42 different types & flavors ● Potato Chips – Pink Sea Salt, Mango Flavor

● Easy in Big Companies – No need to re-tool

● Product innovation as a strategy – USELESS!!!

Salt

Value from Innovation

Strength in Numbers

● Understand all ten types

● De-Emphasis the reliance on Tech and Products

● Think about categories as well as types

● Use the types that matter most – to you

● Understand what your customers really need

● Use enough of the types to make an impact

Outperforming

Market Disruption

● Single Innovation ● Incremental/Sustaining Innovation

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● Multiple Innovations ● Market Disruption

Innovation Tactics Workshop

Declare Intent

● Be clear about Where and How You will innovate to remove guesswork and increase your odds of success ● Put Simply: Where and How should we innovate and how much do you need?

!“innovation is not for amateurs and most meaningful

discoveries are not by accident”

Ralph Jerome – VP of Innovation for MARS

Innovation Tactics Workshop

● Three Innovation Shifts ● Understand the centre of gravity in your industry so you can double down and do something differently!

Business Model Business Model Customer Experience

Innovation Tactics Workshop

●We share with you:- ● Innovation toolkit that turns the ten types into the building

blocks for innovation !● Our Innovation Playbook and the combination of tactics

you’ll need to implement them

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● This Workshop will Develop Your Gameplan!!!!

Innovation Tactics Workshop

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● Friday 30th May 2014 (Cardinia Cultural Centre) 1pm – 5pm ● $197 – Buy one & bring someone from the same business free

Contact Metamorph

● 1300 916 082

● hello@metabiz.com.au

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● Consulting Projects

● Speaking Engagements

10 Types of InnovationMetamorph Consulting Group