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Customer Centered Design Innovation
Srikanth SrinivasInnovation Catalyst
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Run Faster than the Competition
Innovation
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Speed
Size
Slow Fast
Small
Big
It IS a Jungle Out There!
Source:Vijay Govindarajan and Srikanth Srinivas, HBR, Apr 18,2013, "Finding your place in the competitive jungle"
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Innovation is Positive Movement
• Relative• Time Period• Customer
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Who is the Customer? What do they Value? How can we deliver
that Value? How can we get a fair
share?
Customer Centered Innovation
Bally TechnologiesA Case Study in Innovation Excellence
Increased R&D from 6% to 11%
Source: Vijay Govindarajan and Srikanth Srinivas, HBR, Oct 4,2013, "Capturing the Innovation Mindset at Bally Technologies"
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• ROA Tripled – Industry lagging 4% to Industry leading 12%
• Operating Margin doubled - 10% to 20%
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Developing a core competence in Innovation
Pays rich dividends.
“Core competencies are different for every organization, but every organization needs one core competence: Innovation.” Peter Drucker
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Customer Centered Design Innovation
Customer Centered Design• Start with the Customer• Customer Value = Benefit – Pain• Buyer AND User• Constraints = Opportunity
Innovation• Focus on Positive Movement
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1. Idea
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Genius is 1% inspiration …
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Research Scope
Co-researcher and Coauthor: Vijay Govindarajan, Professor at Tuck School of Business, Dartmouth College
Individuals– Shantha Ragunathan– Dr. Jerry Buss– Sir Peter Jackson– Dr. Mohammad Yunus– Walter Paepcke
Companies– 3M– GE– Nucor– John Deere– P&G– Bally Technologies
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2. From Idea to Opportunity
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Idea Space
Do No Harm1 Synergize
Customer Value Company Value
Opportunity1Vijay Govindarajan, and Chris Trimble,“The Other Side of Innovation: Solving the execution challenge”
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3. AND Thinking
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Balance
• Performance Engine AND Innovation Engine
• Customer Value AND Company Value
• Reach AND Profits
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4. Resourcefulness
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Shared Staff
Performance Engine
Partnership
Vijay Govindarajan, and Chris Trimble,“The Other Side of Innovation: Solving the execution challenge”
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5. Outcomes
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50% in 5 Years
Off 95% of the time
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I2I ProcessInspiration to Impact
Need Have
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I2I Balance
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The Future is Now!
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Incorporate Innovation lens in Budgeting Cycle
Customer Value Deliver Share
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Thanks!
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