Chief Innovation Officer
Big businesses don’t seem to be very innovative.
An informal glance around the big business landscape won’t reveal much in the way of innovation beyond perhaps the routine adoption of a new technology, a bit of chasing the most current business model paradigm or acronym, or maybe rejiggering organizational charts here and there. But, innovation? Not so much.
In this session, Colette will explore:
- Where corporate innovation usually fails and how to avoid these pitfalls in your organisation
- Measuring the success of corporate innovation programs – how can we quantify this?
- Exploring the leaders of corporate innovation and those that are lagging behind
3:20 PM Panel Discussion: Innovation Theatre – Who Is Doing Real Innovation and Who Are All Song and Dance?
It’s harder than ever to stay on top - in 10 years 40% of the Fortune 500 will no longer exist. This threat for established organizations by startups and disruptors is paving way to a ‘innovate or die’ mentality. As a response, some of the most renowned companies are looking into innovation labs and internal programs to drive ideation however the sad fact is that 90% of innovation labs are failing.
This panel will look into exploring the following questions:
- Are companies engaging in radical innovation or just tweaking existing products incrementally?
- What is the timeline to ROI and the amount of risk companies are willing to assume?
- Is it establishing buzzwordy innovation programs accelerator programs enough?
- For established companies who have a reputation for being not too innovative –will the startups who are attracted to your accelerator be any less than 2nd or 3rd tier?
- How do we compare to the best practices in international innovation ecosystems? How do we compete?
With innovation labs being the first point of call for companies aiming to recharge their strategy – it is also something that is quite rarely done right. 90% of innovation labs are failing – however those who are doing it right are reaping the rewards, think Commonwealth Bank, Google etc. This workshop will look into the basics of establishing an innovation lab from preparing a business case through to post occupancy.
Key Learning Outcomes:
- How to prepare a business case and enable stakeholder buy in
- Understand the innovation process: define, ideate, prototype and test
- How to create an army of innovators –understanding what your opportunity would look like if you could tap into hundreds of thousands of entrepreneurs from around the world to solve your challenges, and how you can translate that to building an internal innovation culture
- How to leverage open innovation - looking at what’s beyond corporate innovation and why your best chance of competing is actually collaborating