Connecting the Right Dots : Maximising Innovation Value
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The document discusses strategies for maximizing innovation value in businesses, emphasizing the importance of an innovation culture and clear objectives. It outlines various types of innovations, challenges faced by CIOs, and the alignment of technology strategies with business goals. The content serves as a guide for CIOs to connect different elements—a company's vision, values, and market demands—to enhance innovation and business performance.
![Arcot Desai Narasimhalu
Adjunct Professor,
SMU LKC School Of Business
[Managing Innovator, Simha Innovations Pte Ltd]
Connecting The Right Dots:
Maximising Innovation Value](https://image.slidesharecdn.com/cioaaworkshopmaximisinginnovation-170828042004/85/Connecting-the-Right-Dots-Maximising-Innovation-Value-1-320.jpg)
Connecting the Right Dots : Maximising Innovation Value
- 1. Arcot Desai Narasimhalu Adjunct Professor, SMU LKC School Of Business [Managing Innovator, Simha Innovations Pte Ltd] Connecting The Right Dots: Maximising Innovation Value
- 2. ©CIO Academy Asia 2017 Part 1: Understanding Innovation Part 2: What are the Dots ? Part 3: Connecting the Dots AGENDA
- 3. ©CIO Academy Asia 2017 Understanding Innovation Part 1
- 4. ©CIO Academy Asia 2017 Competitor s Business Environment Company Adoption Strategy Competitive Markets Impact of competitors’ strategies Technology innovations Incremental Innovations Role of technology in Business Enhancements Disruptive Innovations Market disruptions
- 5. ©CIO Academy Asia 2017 Technology Adoption Archetypes
- 6. ©CIO Academy Asia 2017 Good CIOs made no difference ■ Fortune 500 from 1955 to 2016 ■ Only 12% of the companies remain ■ What do you think are the key factors ? Many of these companies had good CIOs. Still the companies failed. Could their CIOs have made a difference? YES, IF ONLY …
- 7. ©CIO Academy Asia 2017 They had been allowed to build an innovation culture Innovation Culture Committed Leadership Shared Vision Nurturing Environment Empowered employees Policies and Programs Change Awareness
- 8. ©CIO Academy Asia 2017 Types of innovations Technology Innovation Service Innovation Product Innovation Business Model Innovation Process Innovation
- 9. ©CIO Academy Asia 2017 What are the Dots? Part 2
- 10. ©CIO Academy Asia 2017 Goals, OBJECTIVES, Revenues and Profits Vision is translated into Goals Goals are not Measured OBJECTIVES Specific Measurable Achievable Relevant Time bound OBJECTIVES yield innovation projects Innovation projects generally require technology VISION GOAL 1 GOAL n OBJECTIVE 1 OBJECTIVE n
- 11. ©CIO Academy Asia 2017 Business Value of IT INCREASE REVENUES DECREASE COSTS TALENT MANAGEMENT •Improve information sharing •Assist in acquiring talent •Assist in retaining talent •Increase sales in current markets •Get revenues from new markets •New revenue stream using technology •Reduce wastes •Reduce development cycles •Reduce time to market cycles
- 12. ©CIO Academy Asia 2017 Internal dots COMPANY VISION VALUE DISCIPLINE LEADERSHIP STYLE •Profit Oriented •Growth Oriented •Asset Oriented •Goals •SMART OBJECTIVES •Values •Customer Intimacy •Operational Excellence •Product Leadership
- 13. ©CIO Academy Asia 2017 Innovation Strategy Models • Respect Technical expertise • Assess best deployment scenarios • Game changing possibilities • Risk mitigation based project selection • Customised solutions to meet local needs • Collaborative Culture across fns and geographies • Time to market based project selection • Mostly focused on incremental innovations • Customer discovery and development • Openness to new ideas from external sources • ROI and customer priority based project selection • Advantaged products and services NEED SEEKERS MARKET READERS TECHNOLOGY DRIVERS
- 14. ©CIO Academy Asia 2017 CIO Challenges •Service Provider Vs Visionary partner •Leading Vs Following •Competitive Vs Collaborative •Infrastructure and informational •Transactional •Strategic •Balancing RUN, GROW and TRANSFORM •Right staffing •Relationship with other divisions CIO PRIORITIES INNOVATION FOCUS POSITIONING
- 15. ©CIO Academy Asia 2017 Connecting the Dots Part 3
- 16. ©CIO Academy Asia 2017 Key questions for Innovative CIO Office Alignment How aligned is the CIO’s office with the Mission and Vision of the company? Technology Strategy Does the technology strategy amplify the company’s innovation strategy choices? Value Delivered Does the technology strategy match organization’s value discipline? Readiness Is the CIO’s group innovation ready? Can they proactively recommend technology enabled innovation proposals to run, grow and transform the business? Leadership Style Does the technology strategy match the leadership style?
- 17. ©CIO Academy Asia 2017 Align the dots V Vision D Value Discipline U Values L Leadership style MM Market Maturity CD Customer Demands TI Technology Innovation M Millennials BT Business Trends TT Technology Trends NS Need Seekers MR Market Readers TW Technology Watchers G Goals O OBJECTIVES R Revenues Profits TR Transform GR Grow RU Run
- 18. ©CIO Academy Asia 2017 Managing Innovation INTERNAL EXTERNAL RUN (70%) • Core Enhancements • Regulatory updates • Incremental innovations • CIO to focus on efficiencies • Noncore • Extranet GROW (20%) • Extensions to the core • New market customisation • Adjacent Innovations • Marketing innovations • CIO to assist in multisite multi offering business • Partners in new markets • Customer discovery • Customer development • Intel Oregan lab Model • IBM PC Strategy • Acquisitions - IT Synergy DBS+POSB Vs OUB+UOB TRANSFORM (10%) • Expansion of offerings • Disruptive Innovations • Retiring sunset products • Innovation Culture • Intrapreneurship model • Intel lablet model • GE India model • SCB SMU iLab model • IBM Business Model • CISCO Spin-in model