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Tendayi Viki PhD MBA
The Corporate Startup
http://thecorporatestartupbook.com/
Innovation Principles
“In the latest turn of its wheel, strategy becomes about how to
make existing institutions as innovative as startups…”
Walter Kiechel III
Large companies are NOT startups…
Large companies must view themselves as an innovation ecosystem.
Yet innovators in large companies are often faced with false choices.
The first choice is to write a business plan.
This choice is based on the myth of innovation as a linear process.
Remember, if we are building something nobody wants,
it doesn’t matter if we are doing it on time and on budget.
Eric Ries
Author – The Lean Startup
The second choice is to just do it.
This choice is based on the myth of the visionary innovator.
Making stuff people want is not the same thing as;
asking them what to make.
Customers own problems Innovators own solutions
Both choices are based on the false assumption that: If we build it they will come.
Lean Startup is a method of systematically searching for
customer value and a sustainable business model.
In a great modern organization it is every employee’s right to know that
the thing they are working on matters to somebody other than
their boss.
Eric Ries Author – The Lean Startup
Three Steps to the Epiphany
Create Ideas - Test Ideas - Scale Ideas
The Corporate Startup is based on the understanding
that traditional forms of business planning or
visionary product development are like betting
on a hole in one.
The first step in innovation is to imagine a better world for our customers.
The second step is to find out whether we are imagining something people want.
The ultimate arbiter of value is the customer.
Get out of the building early and often.
There are no facts in the building.
The third step of innovation is to find sustainable and profitable business models
The final step is to scale our profitable business models
Innovation Capabilities
Product Best Practice Investment Best Practice Speed (Learn Fast): Days,Weeks, Months Balanced Portfolio: Core, Adjacent, Transformational
Design Thinking: Customer Needs, Jobs to Be Done Incremental Investing: Appropriate levels for innovation stage
Business Model Innovation: Assumptions and Hypotheses Innovation Accounting: How well are teams doing in their search
Experimentation: Testing with customers, lean analytics Innovation Metrics: Knowledge to Assumption Ratios
Iterative Development: Agile, Minimum Viable Products, Pivots
Product Council: Innovation investment management board
A Case Study
Pearson
THANKYOU
