Managing Innovation - The Corporate Startup Way

Managing Innovation

Tendayi VikiFounder and Principal Consultant

The basic problem confronting an organization is to engage in sufficient

exploitation to ensure its current viability and, at the same time, devote

enough energy to exploration to ensure its future viability...

James G. MarchStanford Professor

Author – Explorations in Organizations

But creativity is NOT innovation….

Innovation = Creative Ideas + Profitable Business Models

Profitable Business Models = Customer Value + Sustainably Profits

This is the innovation sweet spot!

Searching While Executing

Innovative Leadership

Sustain Cash Cows

Design for Serendipity

Tolerance for Failure

Track Innovation Metrics Space to Experiment

The Innovation PortfolioThe goal is to achieve balance...

Every company must have products that span the three types of innovation.

Every company must have products that span the three horizons.

How Innovators WorkBuild-Measure-Learn

Capture Idea

Identify Assumptions

Prioritize Assumptions

Brainstorm Tests

Falsifiable Hypotheses

Get Out Of The Building

Capture Learnings

Make Decisions

Map Your Plan A Business Model

Identify your riskiest untested assumptions

Plan Tests● What is the smallest thing we can do tomorrow/next week to start testing

that risky assumption.

○ Brainstorm some ideas of various ways to test.

Innovation LifecycleFirst We Search Then We Execute

Running Lean

The Lean Product Lifecycle

Innovation AccountingIncremental investments in ideas to see what is working.

Start with small investments then increase as teams start

to show traction.

Moneyball for Innovation reworked on slide 11

How Innovative Leaders Empower Their Teams

Innovation Strategy

Create Serendipity

Cross-functional Teams

Support Experimentation

Innovation Accounting Ideas, Ideas, Ideas

Thank You

http://thecorporatestartupbook.com/