Espresso #1

frankmattes Espresso

Today’s topics: IDEO’s view on what makes up innovation capability; Two things that a Pharma company focuses on for boosting innovation results; Book excerpt: The role of the Chief Innovation Officer.

Please click on headline to start reading.

 

IDEO Studied Innovation in 100 Companies – Here’s what it found

Time to read: 5 minutes

How best to measure “innovation capability?” IDEO studied more than 100 companies and found that the most important element is the organization’s ability to adapt and respond to change. In the end, IDEO identified six basic vectors that it says are instrumental to an innovative, adaptive company: Purpose, experimentation, collaboration, empowerment, looking out (i.e. staying informed about what’s happening in the industry), and refinement (the ability to successfully execute new ideas).

Our take:

Like us, IDEO is looking for the areas in the innovation management system that could bring the biggest impact. While thy’re taking a qualitative route, the ENGAGE model incorporates a quantitative element. Whatever route you are taking, “Getting the people out in the field” and “Allocate resources, advance the culture” leverage and impact innovation results.

Link to the original article: HERE

This Pharma company stays innovative by doing two things well

Time to read: 4 minutes

When Roivant Sciences was founded in 2014 they were determined to learn from the Pharma Industry’s innovation problems to build a more sustainable innovation engine. After extensive assessment, they settled on two initiatives: Realigning innovation incentives for employees and systematically introducing outside talent and, critically, new practices.

These two actions cost almost nothing compared to vast sums spent – and arguably wasted – on efforts to foster innovation.

Our take:

We agree. Boosting innovation results does not require huge investments. In fact there are three root causes behind many below-expectation results. What Roivant did was to identify the areas in the innovation management system that could bring the highest leverage. The ENGAGE model this refers to the first “E” and the first “G” – Getting the staff into the field.)

Link to the original article: HERE

The Chief Innovation Officer should be in charge of new innovation territories. No more. No less.

Time to read: 4 minutes

An analysis with Google Trends on the search term “Chief Innovation Officer” shows rising interest starting in 2010. CINO was actually coined and described by Miller and Morris in 1998, but it seems to have only received wide interest in the last 5 years or so. While the CINO’s function is becoming increasingly strategic, its description is still in its infancy and varies among companies. In the book “Innovation Intelligence” it is argued that the perimeter of the CINO should be new territories. No more. No less.

In the book, 5 roles of the CINO are described: (1) Identify disruptive threats and opportunities based on emerging trends; (2) Defining language and changing culture; (3) Organize and leverage innovation-driven intelligence; (4) Fostering idea generation and rapid experimentation; (5) Bridging the gap between the innovators and the rest of the company.

Our take:

We see this is a Pre-Digital view of innovation. innovation.support’s Frank Mattes highlighted in a recent speech that Digital will profoundly change R&D and innovation and will do so for good. Hence the role of the CINO is vital. Above all, we need a different lens to see and shift a company’s Digital innovation management system (click Here).

Link to the original article: HERE