Product lifecycle developing a global innovation culture
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The document discusses the product lifecycle and the importance of fostering an innovation culture within a large organization, particularly focusing on the concept of 'big bang disruptions' which can lead to sudden shifts in business dynamics. Key themes include identifying core user problems, validating business models, and employing agile methodologies to adapt and learn quickly in a non-linear process. It emphasizes the need for deliberate diversity and a data-driven approach to experiment and capture insights for continuous improvement.
Product lifecycle developing a global innovation culture
- 1. Product Lifecycle Developing An Innovation Culture
- 2. Team
- 4. ● Approx 44,000 employees worldwide ● Institutional sales & print background ● The world’s largest publisher and learning company ● Operates in over 70+ countries ● Growth through acquisition ● 170 years old
- 5. Learner At The Centre
- 6. The World Has Changed
- 7. SOFTWARE IS EATING THE WORLD Marc Andreesen
- 8. Larry Downes is co-author, with Paul Nunes, of Big Bang Disruption: Strategy in the Age of Devastating Innovation Traditional Models Are Changing Big Bang Market Adoption Roger’s Market Segments
- 9. Investment Strategy High Probability Low Probability Low Impact Most Organisations High Impact Start Ups
- 10. The good news is that big-bang disruptions hold immense potential for those who can quickly learn the new rules of unencumbered development, unconstrained growth, and undisciplined strategy. Your current business may be replaced by something more dynamic and unstable but also more profitable. And the change will come not over time but suddenly. Opportunity For Change Larry Downes is co-author, with Paul Nunes, of Big Bang Disruption: Strategy in the Age of Devastating Innovation “ ”
- 11. Governance Capability to Innovate New Ideas Products Long development time 18 months+ Bottleneck of ideas
- 14. Key Questions Can you identify a core user problem in a target market? Are there real customers who get value from your concept? Is there a viable business model for this product? Can you demonstrate Product/ Market Fit or validated business model? How fast are you growing the business at scale? Are you continuing to deliver outcomes to a broader user set? Are you delivering revenue and outcomes while reducing costs? What residual value can be gleaned from the business? Idea Explore Validate Grow Sustain Retire
- 15. 15 Open Source Product Lifecycle Criteria V1.0 Learning about practice Common extensions can be incorporated into later versions
- 16. A Non Linear Process Learn Build Measure
- 17. http://www.ted.com/talks/linda_hill_how_to_manage_for_collective_creativity?language=en#t-168239 Product Development - Non Linear
- 18. Adaptive Strategy And The Product Lifecycle
- 19. Product Lifecycle - A Strategic Lens Bansi Nagji & Geoff Tuff https://hbr.org/2012/05/ managing-your-innovation- portfolio Core Products These are existing products that are optimized for existing customers Adjacent Products These represent incremental innovation targeted at adjacent markets Transformational Products These represent breakthrough innovation in which the company develops new products for new markets 20% of investments are in adjacent innovation 10% of investments are in transformationa l initiatives 70% of investments are safe bets in core products
- 20. Product Lifecycle Principles More Ideas, More Bets, More Tests New Ideas Not all the ideas survive but all the learnings are recorded All the ideas are quickly captured and tested One to three months turnaround
- 22. Lean And Agile Adaptive Culture Agile Principles Ideas Data Data Learn Measure Build Data Lean Startup
- 23. Principles & Metrics ● Quality at the front of the line ● Move from doubt to certainty ● Avoid waste ● Work in small batches ● Measure outcomes and impact, not simply output 2011 2012 2013 2014 Time Visits 1.000.000 Cumulative # visits Monthly # visits
- 24. Principles Over Processes Outcomes Over Outputs
- 25. Safe Environment To Try New Things
- 26. MVP - Product Growth http://blog.mercdev.com/mvp-when-less-is-more/ Not like this… Like this…
- 28. Deliberate Diversity Turning Sparks Into Fires
- 29. 29 London Food 17693 Restaurants Top 10 food Cities Michelin Star Yesteryear Today
- 30. 30 Startup Capitals Centred Around Diversity http://startupblink.com/
- 31. Become Bilingual
- 32. Don’t Limit The Source Of Ideas
- 33. Companies Creating More Sparks Leading To More Fires 33 Big investment in one spark Smaller investments in lots of spark Only takes one good spark to start a fire
- 34. Product Lifecycle Knowledge Network Systems Thinking Approach To Product Development Design Lead has been identified Slice is engaged with the lifecycle Everything is wrapped in Principles & Values, Governance and Quality. 34
- 35. Roles 35
- 37. Today Tomorrow Decentralized Network Distributed Network 37 Product team has better access to all parts of the business Product team has restricted access to other parts of the business which can hinder or slow progress
- 38. 38 Don’t Leave Serendipity to Chance... Deliberate Diversity!
- 39. 39 Key Ingredients ● Active vs Adaptive Portfolios ● Be Deliberate About Diversity ● Culture Eats Strategy For Breakfast ● Data Driven Decisions ● Experiment, Experiment, Experiment