Rajesh Lalwani Speaks on 'The future of Innovation in the Social Media Era’

helping create brands for the future

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Engage 2013: innovation within

an organisation in the social

media era Date 21 June 2013

Contact [email protected]

Bringing ideas to life

IMAGE

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context

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The organisation has changed

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context

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what has changed?

organisations

THEN – Inward

Looking

NOW – Looking

Out

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what has changed?

knowledge transfer

THEN – Top to

Bottom

NOW – Flat

hierarchies and

reverse

mentorship

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what has changed?

THEN –

Compartmentalised NOW – Collaboration

and co-ownership

silos

The process of innovation within an organisation has

changed

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innovation

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innovation then

Source: http://digitalinfusions.com/wp-content/uploads/2012/10/12-The-power-of-dialogue.pdf

Traditional, linear approach to innovation driven by R&D teams

separated by stage gates (The Strategy Group, 2010)

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innovation now

Emerging process of brokerage based innovation – broker familiar with

explicit and tacit knowledge between team bridges structural hole.

Explore Dynamically structured

Founded on relationships

between individuals and

groups

Brokerage of subgroups to

connect those with the

idea to the managers that

have the authority to

invest

Source: http://digitalinfusions.com/wp-content/uploads/2012/10/12-The-power-of-dialogue.pdf

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innovation now

Emerging process of brokerage based innovation

Innovation meets the

formal hierarchy of the

organisation

Idea presented to

management to review

the concept and its

commercial potential to

the organisation

Source: http://digitalinfusions.com/wp-content/uploads/2012/10/12-The-power-of-dialogue.pdf

Engage

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innovation now

Involves active

commercialization and

evolution of the

innovation that matches a

specific need.

Uses dynamic nature of

relationships between

individual and groups to

understand what is

required to implement

innovation Exploit

Source: http://digitalinfusions.com/wp-content/uploads/2012/10/12-The-power-of-dialogue.pdf

Emerging process of brokerage based innovation

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What kind of innovation are we seeking?

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which innovation do you want?

Incremental Innovations

Radical Innovations

Breakthrough Innovations

Small changes

to existing

technologies or

business

models

Comparatively

rarer. Create

major new

industries with

exponential

growth

Significant

changes

It is important to have a clear vision of where the company is going, as it will define and set the

context for the role innovation will play in enabling profitable growth, help determine the type

of innovation you want to drive and the way you need to organize to effect change

another perspective

Co-sharing driving new revenue

models – E.g. BMW & Toyota renting

cars off dealership lots in US

Similarly, Marketplaces for peer-to-

peer selling, re-selling, renting,

swapping, lending, gifting/donating

Marketplaces for product

development – enabling crowds to

collaborate on core business

functions. E.g. Kickstarter for

funding, Esty for production, Quirkly

for development

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innovating business models

Source: Altimeter

enablers and usecases

knowledge networks

open learning

Open innovation and crowdfunding

Intraprenuership

Accelerators

Reverse mentorship

knowledge networks

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knowledge networks

42% increase in the number of

employees engaged in

collaboration activities through

the Exchange in 1 year

Internal knowledge capital integrated with thousands of communities of

practice. Access and co-opting of external experts who can otherwise not be hired.

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Open learning

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open learning > coursera> khan academy

Open learning options and platforms are

increasingly helping individuals to build

knowledge base which in turn paves the

way to innovation

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Open innovation and crowdfunding

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open innovation

Bringing together cross-domain

knowledge for breakthrough solutions

Crowdfunding within an organization

may require new motivational model

emphasizing both – individual and

community needs

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Intrapreneurship

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intrapreneurship

3M’s Intrapreneurship program

called the “Bootlegging Policy,”

(which allows employees to spend

up to 15 percent of their time at

work developing their own creative

ideas for the betterment of the

company and the creation of new

products or services)

encourage intrapreneurial explorations on

company time through formal corporate

intrapreneurship programs

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Accelerators

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providing seed money to young

entrepreneurs

Microsoft XBox is expanding into China with company-

funded incubator programme for outside developers to

build products based on Kinect Technology

Microsoft offers start-ups $20,000 dollar

Doesn’t own the intellectual property

Cannot veto the ideas

accelerator

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Nike+ - leverage success of Nike + platform by connecting

with viable companies committed to helping people share

more active lives

10 companies selected from 100s that applied

$20,000 in funding, plus connections and mentorship by

leaders across Nike and the tech industry

FitDeck: Digital decks of exercise playing cards that

deliver ever-changing workouts for fitness and sports.

GoFitCause: Leverages fitness data as a means of

raising money for charities.

accelerator > providing seed money to young entrepreneurs

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accelerator > providing seed money to young entrepreneurs

In India, we work on the Mahindra Spark the Rise

programme

Projects submitted this year– 1884

Grants – 53 grants for a total of Rs. 27 million

Mentorship – with Dasra

Connections – 480 funders, 2887 volunteers, 2386

supporters, 267 donors, 1,000,000 votes cast

In association with Tehelka and THiNK 2012, Mahindra

Rise initiated the Tipping Point innovator series

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Reverse mentorship

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right here in india

Hindustan Unilever CEO Nitin Paranjpe sees a new

generation of consumers growing up in a digital world.

And so, for a year now, he is being tutored on social

media by a 32-year-old brand manager, Karthik Perumal

(@karthik_perumal)

Bharti Airtel HR chief Krish Shankar, 49, wanted to get

inside the minds of young talent

He seeks advice from a business manager, who is only

28 to gain insights

Reverse mentoring to 50 senior executives,up from 15

reverse mentoring

Source: The Economic Times

thank you