Executing & Exploiting Innovation

Executing & Exploiting Innovation

1. Execution

   • Models
     • Organic Growth
       • Arises from an increase in the companies own activities.
       • Digital Transformation
       • Enhanced Customer Experience
       • New
         • Product or Service
         • Partners
       • Incubation
     • Inorganic Growth
       • Arises from mergers or takeovers (faster alternative).
       • Accelerators
       • Mergers & Acquisitions (M&A)
   • Tools & Techniques
     • Project Management
     • New Product Development (NPD)
     • Gate-stage Process

2. Innovation Process

   • 1st Generation
     • Research Push
   • 2nd Generation
     • Market Pull
   • 3rd Generation
     • Coupling (Market Push & Pull)
   • 4th Generation
     • Collaborative

3. Innovation Cycle

   • Valleys of Death
     • Commercialisation
       • Highly regulated/standardised industries make it very difficult to scale up.
     • Technological
       • Lack of belief results in lack of backing and funding,

4. Finance Sources

   • Debt Finance
   • Crowdfunding
   • R&D
     • Internal
       • Corporate R&D Budget
       • 3F's
     • External
       • InnovateUK
       • Intergovernment e.g. EC Horizon 2020
   • Corporate Venture Capital (CVC)
     • Accelerators
   • Equity
     • VC
     • Angels

5. Startups

   • "A temporary organisation formed to search for a repeatable and scalable business model." - Steve Blank
   • Customer Development Process
     • • Customer Validiation
         • PIVOT
           • Customer Discovery
         • Customer Creation
           • Company Building

6. Marketing Innovation

   • Mass Marketing
   • Individual
   • Social/Tribe