p. 1 Business Model Innovation Lab Four New Opportunities that require new Business Models for the Life Science Industry and Implications for Your Industry
Business Model Innovation | Lynch
Jun 26, 2015
John Lynch of Four New Opportunities that require new
Business Models for the Life Science Industry
and Implications for Your Industry
Business Models for the Life Science Industry
and Implications for Your Industry
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p. 1
Business Model Innovation Lab
Four New Opportunities that require new Business Models for the Life Science Industry and Implications for Your Industry
The 4 Uncontrollable Drivers of Innovation
Competition
Technology Regulation
Customers/ Consumers
3
Millipore History
$Bn/yr
In Pursuit of Breakthrough Innovation
Diagnostic
Alignment
October
White Space
October
Envisioned Future
Opportunities
Funding Breakthrough
The Case for Breakthrough Innovation
Executing on breakthrough innovation is critical to the long-term relevance of EMD Millipore to our customers. Breakthrough innovation will help drive profitable revenue growth above market rates, making us attractive as an employer and as an investment and more valuable for our customers
The initiative focused on breakthrough innovation only. Breakthrough Innovation generally involves new business model. (Continued focus on actions that sustain the business as well as incremental innovations remain very important.)
Company-wide alignment around the terminology of innovation is critical.
Innovation Sweet Spot
p. 7
Corporate Will (Strategic Agenda)
Strategic Competencies (Assets, Resources, Technologies)
Marketplace Opportunities (Emerging Trends & Unmet Needs)
This is even harder with a fuzzy, changing and disconnected system.
Finding Your New Growth Platforms in the Sweet Spot
How Competency Analysis
What/Where Deep Market Exploration
Why Executive Leadership
Millipore Future Pull Program Flow
Future Pull Together, we identified 7 Future View Scenarios that will change our world SR1: R&D spending is
becoming a global investment regardless of the funding center
and a negative balance of trade for
the U.S.
Opportunity 1
So What?
Envisioned Future
PW
G
IB
Opportunity 2
Opportunity 3
Opportunity 4
Opportunity 5
Implications for our
business?
1. If this is our world in the future…
2. Then who must we be to succeed? (Envisioned Future)
3. And what are the opportunities for growth this indicates?
Finding Your New Growth Platforms in the Sweet Spot
How Competency Analysis
What/Where Deep Market Exploration
Why Executive Leadership
A Proven 5-Phased Innovation Process
1. Direction
2. Discovery
3. Invention
4. Incubation
5. Implementation
Future Pull Market exploration is a data intensive journey.
1. Direction
2. Discovery
3. Invention
4. Incubation
5. Implementation
Focal Areas & Project Plan
Nuggets
Business Visions
Vetted Business Plans
Kickoff & Training
FileFacts™ & Mind Mining
Expert Tease™
40+ Lab Crawls
Nuggetizing™
Weekly War Room
TechMax™
16
…and you need a process for synthesizing to high level concepts.
Nuggets
…AHA!
Information Insights
Wishes
Testable Consumer Concepts
“I Wish….”
Nuggets
Finding Your New Growth Platforms in the Sweet Spot
How Competency Analysis
What/Where Deep Market Exploration
Why Executive Leadership
p. 18
Competencies Framework
Current Technologies
Current Competencies
With well defined and supported business visions, we begun the process of building
something really new.
New Competency New Competency 3
New Competency 1
New Technology 2
New Technology 1
Today
Future
19
Platform 1 Platform 4 Platform 3 Platform 2
Breakthrough Innovation Requires New Skills… so what did we learn along the way?
Innovation Thinking, Culture and Leadership
1. 4 Drivers of Innovation
2. Innovation Sweet Spot and Corporate Will
3. Aligning the Organization
4. 9 Critical Success factors of Innovation
5. “Designing” an Innovation Team
6. “Skate to the Puck”
7. Open Minded Evaluation (OME)
8. “Championed Teamwork”
9. Dynamic Innovation Organization
10. Communication, Communication, Communication
Market Discovery and Business Invention
1. War Room
2. War Games
3. “Trend Scouting” / Lab Crawls/ Expertease/ Tech Max/ Future Foresight
4. Mind Mapping and Connection Making
5. Mind Mining for Insights
6. Info, Info, Info → INSIGHTS →NUGGETS
7. Competency mapping
8. Opportunity Space and Ownable Whitespace
9. Business Model Invention, Concepts, Visions and Mapping, Platforms
10. External Sounding Boards 20
Take Aways
The importance of business model innovation even when business is good
Finding Your Innovation Sweet Spot
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