business innovation

Strategy | Ins ight | Innovat ion

I n / p r o f e s s o r b r e y

/ p r o f e s s o r b r e y

@ p r o f e s s o r b r e y

/ p r o f e s s o r b r e y

ENTREPRENEURIAL INNOVATION FOR SMALL BUSINESS

Eric T. Brey, Ph.D.

Profitability Reasoning Driving Innovation

10 | 10 | 10

Barrier to Innovation

p r o f e s s o r b r e y. c o m Think Oranges. !

Profitability •  Timing •  Barriers

Idea Curation Driving Innovation

Doblin Types of Innovation

Structure   Products  

Process   Delivery  

Innova4on  

p r o f e s s o r b r e y. c o m Think Oranges. !

Ideas •  Creativity

•  Organizational consideration

•  Service and Experiences

“The more original a discovery, the more obvious it seems afterwards.”

-Arthur Koestler

Experiential Implementation Driving Innovation

Current Customers

Incremental Improvement

Leaders Laggards

p r o f e s s o r b r e y. c o m Think Oranges. !

   Consumer Product & Service

Service Model

Marketing

Operations

Satisfaction

p r o f e s s o r b r e y. c o m Think Oranges. !

   Customer Service

Experience Value

Experience Model

Emotions

Details

Loyalty

Communication

People

Organization

Support Empowerment Knowing

Ownership

p r o f e s s o r b r e y. c o m Think Oranges. !

Implementation •  The Three Keys

•  Experiential Model

•  Communication

Creativity + Implementation = Innovation

Entrepreneurs Driving Innovation

"Innovation" framed as an initiative, not the normal way of doing business Absence of a clear definition of what "innovation" really means Innovation not linked to company's existing vision or strategy No sense of urgency Workforce is suffering from "initiative fatigue” CEO does not fully embrace the effort No compelling vision or reason to innovate Senior Team not aligned Key players don't have the time to focus on innovation Innovation champions are not empowered Decision making processes are non-existent or fuzzy Lack of trust Risk averse culture Overemphasis on cost cutting or incremental improvement Workforce ruled by past assumptions and old mental models No process in place for funding new projects Not enough pilot programs in motion Senior Team not walking the talk No company-wide process for managing ideas Too many turf wars. Too many silos. Analysis paralysis Reluctance to cannibalize existing products and services NIH (not invented here) syndrome Funky channels of communication No intrinsic motivation to innovate"Over-reliance on technology Failure to secure sustained funding Unrealistic timeframes Failure to consider issues associated with scaling up Company hiring process screens out potential innovators

Unclear gates for evaluating progress Mind numbing bureaucracy Unclear idea pitching processes Lack of clearly defined innovation metrics No accountability for results No way to celebrate quick wins Poorly facilitated meetings No training to unleash individual or team creativity Voodoo evaluation of ideas Inadequate sharing of best practices Lack of teamwork and collaboration Unclear strategy for sustaining the effort Innovation Teams meet too infrequently Middle managers not on board Ineffective rollout of the effort to the workforce Lack of tools and techniques to help people generate new ideas Innovation initiative perceived as another "flavor of the month" Individuals don't understand how to be a part of the effort Diverse inputs or conflicting opinions not honored Imbalance of left-brain and right brain thinking Low morale Inability to attract talent to risky new ventures Failure to consider commercialization issues No rewards or recognition program in place No processes in place to get fast feedback No real sense of what your customers really want or need

Innovation Building Blocks

Creating Breakthroughs

Differentiating (Unique)

CASE (Copying)

Enhancing (Better)

Right-Sizing (Elimination)

Effectiveness (Right Things)

Efficiency (Doing it Right)

I n / p r o f e s s o r b r e y / p r o f e s s o r b r e y @ p r o f e s s o r b r e y / p r o f e s s o r b r e y

There is a beauty in simple innovation…