Innovation in Big Ugly MNCs

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5 SIGNS THAT THESE ARE THE INTRAPRENEURS YOU’RE LOOKING FOR! Eric T achibana @ Asian Financial Services Congress

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2 QUESTIONS

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How can a small cog in a big machine have impact ?

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How can a leader create a big machine that affords opportunity?

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5 suggestions

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INCREMENTAL = DISRUPTIVE / Clarify YOUR SCALE 1

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Clarify YOUR SCALE 1 Most firms treat incremental & disruptive innovation the same

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Clarify YOUR SCALE 1 When in fact, they’re totally different

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Clarify YOUR SCALE 1 Who you hire What you pay How you structure the org How you measure your risk appetite Your processes Your policies Your time frame Your culture Your location strategy

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Clarify YOUR SCALE 1 If you manage incrementally in a disruptive moment, you’re doomed

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Clarify YOUR SCALE 1 Step one: clarify what you are really after so that you manage against the right reality

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PRODUCT INNOVATION IS NOT THE ONLY CHOICE Widen YOUR SCOPE 2

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Widen YOUR SCOPE 2 In the real world, product innovation represents the minority

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Widen YOUR SCOPE 2 Yet because it is seen as sexy, it is what 99% of us fixate on

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Widen YOUR SCOPE 2 When there are soooooo many better, blue-ocean, profitability-impacting innovation opportunities

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Widen YOUR SCOPE 2 Process Brand Supply chain Manufacturing Legal Financial Human resource Policy Culture Structuring Acquisitive Packaging

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Widen your scope 2 If all you see is product, you’re probably missing the big picture

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Widen your scope 2 Step two: put everything in play

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R&D LABS ARE SOOOO LAST CENTURY Use all YOUR TOOLS 3

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Use all your tools 3 Corporate r&d labs are good, but definitely not the end all

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Use all your tools 3 consider diversifying your budget to develop other ways to source and develop ideas

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Use all your tools 3 Mistakes Unexpected cross-team synergy Acquisitions External engagement Internal accelerators Spin-outs Internal Crowdsourcing Internal crowdfunding Enterprise social network Book club

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Use all your tools 3 STEP THREE: use everything, everyone, everywhere

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Get dirty 4

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Get dirty 4 Innovation happens in the way we do the little things day to day, not in the big programs

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Strategy and vision are critical Get dirty 4

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But success lies in day-to-day culture and values Get dirty 4

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STEP FOUR: setting direction is fine, But it’s more important to get dirty Get dirty 4

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Be Integrated, holistic & iterative 5

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Be Integrated, holistic & iterative 5 Speaking of getting dirty, lean works as well for big firms as it does for start-ups

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Be Integrated, holistic & iterative 5 Just….be lean already

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Be Integrated, holistic & iterative 5 And stop with the big ideation programs that lead nowhere other than disillusionment

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Be Integrated, holistic & iterative 5 Be holistic

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Be Integrated, holistic & iterative 5 Make sure you cover your landscape & life-cycle

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Be Integrated, holistic & iterative 5 STRATEGY INFRASTRUCTURE CULTURE RESOURCING INCULCATE IDEATE INCUBATE INNOVATE Have a plan for each quadrant

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Operating models in the wild: A QUICK CASE STUDY

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VISION Be recognized by clients & staff as a innovation leader in our market space WHERE WE WANT TO GO HOW WE GET THERE OUR COMPASS Leverage both incremental and disruptive innovation to drive client delight, excite our brand, develop new revenue streams, slash the cost base, and inspire and engage employees APAC Innovation Program Strategic Intent (2018) 37 We define Innovation a s the commercialization of ideas. Our Innovation may be small and incremental or large and game changing. Innovation is often unsuccessful, and failure must be encouraged too . While it may be shepherded by a small group of designated evangelists, innovation must be owned by everyone at all levels or it will not become part of the firm’s DNA . KEY OBJECTIVES Reboot operating model to facilitate & govern process Make a real, visible commitment – marketing messages & budget / resource allocation Develop and launch controlled Ideation program Back 3-5 internal ventures Develop open innovation program, focusing on FinTech start-ups VALUES Engagement, Commercial, Disciplined

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Ensure a fertile landscape for innovation STRATEGY INFRASTRUCTURE CULTURE RESOURCING GOALS Define and communicate a clear vision of why innovation matters, where we aspire to be because of innovation, and what success means tangibly. Agree on, indoctrinate, and live out the values that drive innovation. Agree on, rollout, and monitor a practical tactical mission and plan that will help us deliver our vision. ACTIVITIES Define Strategic Intent (Vision, Mission, Values) aligned to platform and business goals Define & execute Comms Plan Align operational tactical plans to strategy Measure / monitor strategy execution GOALS Ensure that the environment is as conducive to innovation as possible. ACTIVITIES Budget and resourcing allocation Innovation Labs Ideation & Collaboration Tools Incentives & other policies Physical environment GOALS Create a culture that encourages innovative behavior. ACTIVITIES Identify and coach out derailing behaviors Formally celebrate / communicate success & failures Propagate stories / legends GOALS Ensure that we have enough intrapreneurs with the right diversity of capabilities and in the right organizational roles (seniority & coverage) to instigate and drive change and remove staff who would derail the program. Also, ensure that we have the right partner set and sensing processes to drive innovation from the outside. ACTIVITIES Organizational Design, role definition, & diversity strategy Sourcing Screening Induction Training Mobility Pruning

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Support the whole innovation lifecycle 39 INCULCATE IDEATE INCUBATE INNOVATE GOALS Use Culture, Staffing, Comms , Environment, & Infrastructure to drive day-to-day innovative thinking and behavior by empowering employees. They can do it. They have authority to do it. They have the space and time to do it. They have the tools and training to do it. They have the organizational tolerance of failure to do it. ACTIVITIES Innovation Culture stewardship Coordinate with staffing & leadership dev Innovation & collaboration tools identification & deployment Reporting & other communications Intrapreneurial coaching & mentorship support GOALS Ensure a fluid, rapid flow of ideas from inside and outside, from top to bottom, and across the organization’s business lines and functions. Make it easy for anyone to find out to whom new ideas should go. Provide an infrastructure that allows the organization to ponder, capture, share, filter & qualify good ideas and to save ideas that are good, but not ready to incubate. ACTIVITIES Manage ideation & collaboration tools & programs (and archive) Problem statement definition & qualification Drive External Innovation (competitors, customers, universities, wild cards, etc ) program, linkages, and agreements GOALS Create space, budget, and project management support to convert good ideas into practical prototypes and pilots. Track, measure, and monitor projects and spend to ensure efficient and effective deliverables. ACTIVITIES Manage R&D Labs Manage skunk works projects & internal ventures Lobby for and manage venture budget Execute stage-gate and governance processes to qualify and monitor venture projects GOALS Transform the right set of prototypes into commercial change. Launch new products to market or implement organizational change on a wide scale. ACTIVITIES Facilitate front-to-back business sponsorship from ideation stage through commercialization) Oversee productionization / commercialization and change management Internal sales and marketing Track business benefits

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How we do it – business transformation plan (sample) 40 STRATEGY INFRASTRUCTURE CULTURE RESOURCING INCULCATE IDEATE INCUBATE INNOVATE INITIATIVES Project A Q4 LL Project B Q4 LL Project C Q4 AR INITIATIVES Project J DONE ET INITIATIVES Project S Q4 ET Project T Q4 ET INITIATIVES Project N DONE ET Project O Q4 ET INITIATIVES Project H DONE ET Project I Q4 ET INITIATIVES Project D DONE SP INITIATIVES Project E DONE SP INITIATIVES Project K DONE SP Project L DONE ET Project M Q4 ET INITIATIVES Project P DONE PS INITIATIVES Project G DONE KY INITIATIVES Project F Q4 ET INITIATIVES Project Q DONE PS INITIATIVES Project W DONE ET INITIATIVES Project U DONE ET INITIATIVES Project R Q4 ET INITIATIVES Project V Q4 PS

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Clarify your scale Widen your scope Use all your tools Get dirty Be integrative, holistic, iterative

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Any Questions?

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Images lifted from JD Hancock DESIGN Concept lifted from Eugene cheng

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