Why Leading Innovation Is Essential To Ignite Your Company’s Growth - H. Del Castillo, AIPMM
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Objectives • Why should you lead innovation within your company? • What should you do to encourage innovation? • How do you harness the power of innovation to increase your company’s value and minimize risk? Description Innovation is a central element of business growth strategy within companies that aim to generate added value for their customers, the company itself, and other stakeholders. While many company executives and business leaders agree that in order for their companies to survive today’s increasingly global marketplace, they must face the unpleasant truth that there may have to be fundamental changes in who they are, what they do, and how they do it. Few executives feel their companies are good at the specific processes and tactics frequently tied to successful innovation, such as generating breakthrough ideas, selecting the right ideas, prototyping, and developing business cases. We will provide insights to help you define and implement a process to drive innovation within your company using a sustainable approach to ignite business growth. The speaker will discuss how you can leverage innovation as a resource to help shape a better future for your company’s growth and your career. These insights will help you increase creativity, nurture collaboration and lead activities to transform innovation to profit. He will identify the value of innovation, methodologies, and concrete steps you can take to foster innovation within your company. Who Should Attend This discussion is for entrepreneurs, business owners, company executives and senior managers who want to increase their company’s value and accelerate their professional careers by leading product innovation efforts. Connect with me via LinkedIn at http://linkd.in/hdelcastillo with comments or questions regarding this topic. Contact me for more information regarding AIPMM membership or training courses planned in your area. Let me know how I can help you create and implement a product strategy and product planning process to successfully grow your business.
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Why Leading Innovation Is Essential To Ignite Your Company’s Growth - H. Del Castillo, AIPMM
- 1. Hector Del Castillo linkd.in/hdelcastillo June 27, 2012 © AIPMM 2012
- 2. I want to thank everyone that attended this webcast. I also want to thank the Athens Information Technology (AIT) Center of Excellence for Research and Education for their support. I welcome your feedback regarding this topic. Contact me with any comments or questions. I look forward to seeing you in Amman or Athens soon. © AIPMM 2012
- 3. Tweet About Us! Hector: @hmdelcastillo AIPMM: @AIPMM ProdMgmtTalk: #ProdMgmtTalk © AIPMM 2012
- 4. © AIPMM 2012
- 5. Community Certification Subject Matter Experts & Like-Minded Peers to ask Certification can help to improve both questions organizational performance and individual career aspirations as part of a managed skills development approach. Connections Content Connecting our members through multiple social media Hundreds of practical templates, examples, and information networks extends our reach © AIPMM 2012
- 6. AIPMM Certifications • Certified Product Manager (CPM®) • Certified Product Marketing Manager (CPMM®) • Agile Certified Product Manager (ACPM®) • Certified Innovation Leader (CIL®) • Certified Brand Manager (CBM®) Source: Validate Your Expertise © AIPMM 2012 6
- 7. What We Will Discuss • What is innovation? • Why your company needs it • Implementing an innovation strategy • Tips to foster innovation • Ways to reduce risk © AIPMM 2012
- 8. What are the biggest barriers for innovation within your company? • Poor management • Insufficient investment • Lack of innovative people • Inadequate planning • Cannot afford the risk © AIPMM 2012
- 9. What is Innovation? © AIPMM 2012
- 10. Benefits of Innovation Improved Increased product profitability for your value for customers company © AIPMM 2012
- 11. Where can innovation happen? • Technology • Methodologies • Packaging • Operations • Tools • Distribution • Product Design • Business Models • Production • Pricing • Processes • Marketing © AIPMM 2012
- 12. Innovation Funnel Ideas • Generate • Explore • Analyze • Synthesize • Test • Screen Outcomes • Implement © AIPMM 2012
- 13. ”A strategy is like a roadmap. It’s useful only when you know where you are and where you want to go.” © AIPMM 2012
- 14. Fortune’s Most Admired Companies Rank Company Industry Industry Rank 1 Apple 1 Computers 2 Google 1 Internet Services & Retailing 3 Amazon.com 2 Internet Services & Retailing 4 Coca-Cola 1 Beverages 5 IBM 1 IT Services 6 FedEx 2 Delivery 7 Berkshire Hathaway 1 Property and Casualty 8 Starbucks Coffee 2 Food Services 9 Procter & Gamble 1 Soaps and Cosmetics 10 Southwest Airlines 3 Airlines Source: FORTUNE Magazine, 19 Mar 2012 © AIPMM 2012
- 15. TIPS FOR IMPLEMENTING AN INNOVATION STRATEGY SUCCESSFULLY © AIPMM 2012
- 16. 1. Discover Insights © AIPMM 2012
- 17. Discover Unmet Customer Needs © AIPMM 2012
- 18. Identify Customer Segments Needs; e.g., Demographics; e.g., Problems/pain points Industry Applications/uses addressed Function Key functionality/attributes Geography Degree of sophistication/quality/… Age/gender/income Drives Product/Solution Strategy Other personal/business Behaviors and Attitudes; e.g., characteristics Risk appetite/adoption Drives Outreach Strategy Psychographics (lifestyle/personality) Stated/unstated values Usage patterns Vendor/brand loyalty Drives Adoption Strategy © AIPMM 2012
- 19. Know Your Competitive Landscape © AIPMM 2012
- 20. 2. Align Strategies With Needs Focus on creating and delivering value-added Customer products to target customers Product based on their unmet needs. (Value) Business Market © H. Del Castillo, AIPMM, Product Management Triple Constraint, 2011 © AIPMM 2012
- 21. Create Alignment Align business, marketing and product strategies with unmet market needs. © AIPMM 2012
- 22. Communicate Strategic Objectives Financial How much investment is needed? How soon will we break even? Learning & Growth Customer What key resources are Product What are the unmet needs? needed? Vision & Mission Who are the customers? What knowledge and skills are needed? Who’s most likely to buy? Business Processes What key activities and deliverables are needed? © AIPMM 2012
- 23. 3. Mind Your Company’s Culture Cultivate a culture that Process fosters innovation and collaboration to create People & deliver great products. Culture © AIPMM 2012
- 24. Focus on Structure Source: McKinsey 7S Framework © AIPMM 2012
- 25. Eliminate organizational silos © AIPMM 2012
- 26. 4. Adopt A Product Planning Process Product Management Framework (PMF) Source: © AIPMM, 1998-2012, All Rights Reserved. © AIPMM 2012
- 27. Integrate Innovation © AIPMM 2012
- 28. Leverage The Product Life Cycle © AIPMM 2012
- 29. Identify Key Resources © AIPMM 2012
- 30. Define Key Deliverables © AIPMM 2012
- 31. 5. Deliver Value, Success Will Follow © AIPMM 2012
- 32. Polish your value proposition Creating and delivering value to customers, executives and investors is essential for a successful business. © AIPMM 2012
- 33. Direct the Internal Value Chain © AIPMM 2012
- 34. 6. Align Your Business Model © AIPMM 2012
- 35. Adopt Leading Productivity Tools © AIPMM 2012
- 36. Make Your Business Case © AIPMM 2012
- 37. Key Takeaways 1 • Discover insights 2 • Align strategies with needs 3 • Mind your company’s culture 4 • Adopt a product planning process 5 • Deliver value, success will follow 6 • Align your business model © AIPMM 2012
- 38. Useful Links • Website: http://www.aipmm.com • LinkedIn: http://www.linkedin.com/company/2614343 • Articles: http://www.aipmm.com/html/newsletter/article.php • Blogs: http://aipmm.com/anthropology/ • Webinars: http://aipmm.com/aipmm_webinars/ • Certification: http://aipmm.com/html/certification/ • Product Management Framework Brochure: http://www.aipmm.com/brochures/AIPMM_PMF.pdf © AIPMM 2012
- 39. Upcoming Training Courses The following AIPMM executive training courses will be offered at AIT in Athens and PSUT in Amman in July. Contact Katerina Protonatoriou if you’re interested in registering for these courses and obtain a special discount. © AIPMM 2012
- 40. Certification Training Courses Upcoming Courses Dates and Location Certified Product Manager (CPM®) from inception to launch Jul 8-9, 2012 Course Information: www.ait.gr/aipmm-jo PSUT Application Form: http://hermes.ait.gr/registrations/multiple_cv.php?prog=341 Amman, Jordan Certified Product Marketing Manager (CPMM®) from launch to Jul 10-11, 2012 PSUT retire Amman, Jordan Course Information: www.ait.gr/aipmm-jo Application Form: http://hermes.ait.gr/registrations/multiple_cv.php?prog=341 For more information or to register, contact Katerina Protonatoriou at kpro@ait.gr. © AIPMM 2012
- 41. Executive Training Courses Dates and Upcoming Courses Location Product Innovation Leadership - Jul 17-18, 2012 Igniting innovation and business growth (16 PDUs) AIT Athens, Greece Course Information: http://www.productmanagement.gr/cil.asp Application Form: http://hermes.ait.gr/registrations/multiple.php?prog=342 Sep 27-28, 2012 Teqcorner McLean, VA For more information or to register, contact Katerina Protonatoriou at kpro@ait.gr. © AIPMM 2012
- 42. Certified Product Manager (CPM®) from inception to launch Date: Jul 8-9, 2012 Time: 8:30 AM – 5:30 PM Place: Princess Sumaya University of Technology, Amman, Jordan Price: $930* JOD per person Course covers the role of product management and the standard product lifecycle. Teaches you to manage and launch any product at any stage of its lifecycle. This course thoroughly prepares you to take the worldwide standard CPM® certification exam. Price includes the following: • Instructor-led training • Course handbook • Practice exam questions • One year AIPMM basic membership ($125 value per person) • CPM® certification exam fee ($395 value per person) © AIPMM 2012
- 43. Certified Product Manager (CPM®) from inception to launch Day One Day Two Introduction What is Product Management? Understanding Goods & Services Product Life Cycle Product Decisions Market Research Product Positioning Pricing Value Creation Product Management Toolbox Product Marketing Q&A Practice Questions CPM® Certification Exam © AIPMM 2012
- 44. Certified Product Marketing Manager (CPMM®) from launch to retire Date: Jul 10-11, 2012 Time: 8:30 AM – 5:30 PM Place: Princess Sumaya University of Technology, Amman, Jordan Price: $1,020* JOD per person Course covers the role of product marketing and the standard product lifecycle. Teaches you to launch and market any product at any stage of its lifecycle. This course thoroughly prepares you to take the worldwide standard CPMM® certification exam. Price includes the following: • Instructor-led training • Course handbook • Practice exam questions • One year AIPMM basic membership ($125 value per person) • CPMM® certification exam fee ($395 value per person) © AIPMM 2012
- 45. Certified Product Marketing Manager (CPMM®) from launch to retire Day One Day Two Introduction What is Product Marketing? Market Research Product Life Cycle Branding Strategic Planning Marketing Process Understanding Goods & Services Pricing Practice Questions Q&A CPMM® Certification Exam © AIPMM 2012
- 46. Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Date: Jul 17-18, 2012 Time: 8:30 AM – 5:00 PM Place: AIT, Athens, Greece Price: €1,070 per person This course covers best practices and proven methodologies to lead innovation efforts in order for your company to gain or maintain a competitive advantage using a sustainable approach. You will learn knowledge, skills, and tools to integrate and align strategic objectives with a managed and purposeful innovation culture. This course fully prepares you to take the Certified Innovation Leader (CIL) certification exam. Price includes the following: • 16 hours of instructor-led training • 16 PDUs for PMI® certified Project Management Professionals (PMP®) • Course handbook and study guide • Exam review • One year AIPMM premium membership ($175 value per person), • Over 350 productivity templates and tools from Demand Metric for 12 months ($497 value per person) • Single-user license for product management lifecycle templates, whitepapers and references from the 280 Group ($99 value per person) © AIPMM 2012
- 47. Product Innovation Leadership - Igniting innovation and business growth (16 PDUs) Day 1 Day 2 Introduction & Overview Strategic Innovation Leverage and Phase 2: Plan Alignment (SILA) Phase 3: Develop Project Identification Phase 4: Develop Business Case Development Phase 5: Qualify Phase 1: Conceive Phase 5: Launch Practice Questions Exam Review Certified Innovation Leader (CIL®) Certification Exam © AIPMM 2012
- 48. Upcoming Product Management Talk Hakan Kilic, Product Management Expert, Leads Global Product Management Talk Discussion on Centralized vs. Decentralized Product Management [Register] Date: Monday, July 16, 2012 Follow: http://www.blogtalkradio.com/prodmgmttalk Tweet: Follow @ProdMgmtTalk Use #ProdMgmtTalk A discussion of what every executive should know about organizational structures in product management: how do we better align our product teams with our business and development units to drive growth? It’s a tough challenge, and one that executives try to address by deciding on whether the product management team reports to an enterprise management team, or an individual General Manager/Business Unit leader. On one hand, you can drive a corporate wide strategy and optimize development investments across your entire portfolio. On the other hand, you can get deep vertical expertise to drive change that really moves the needle for a specific business. © AIPMM 2012
- 49. Upcoming Webcast The Five Factors That Drive High Performance Product Teams Date: Friday, June 29, 2012 Time: 12:00 PM – 1:00 PM EDT [Register Here] A recent global study of product teams found that there are five key factors that are common across high performance Product teams. When these factors are effectively in place, product teams stand a 67% probability of achieving high performance. In their absence a miserable 2%! This webinar will be a cross-functional panel discussion of each of these five factors from the perspective of the study authors who represent the perspectives of product management and business analysis. Speakers: Greg Geracie, President of Actuation Consulting and Author of the global best seller, Take Charge Product Management David Heidt, President of IIBA Chicagoland and President of Enterprise Agility © AIPMM 2012
- 50. Why Get Certified • Bestows internationally recognized credential • Enhances opportunities for career advancement • Improves your earning potential • Validates your expertise regarding best practices • Grants mark of distinction that sets you apart • Connects you with experts and thought leaders • Demonstrates commitment to your profession Source: All About Product Management Certification Webcast, Jun 2010 © AIPMM 2012
- 51. Why Join AIPMM • Network with experts and thought leaders in your profession. • Learn the latest best practices and methodologies. • Expand your knowledge and soft skills. • Sharpen your leadership and influential skills. • Validate your expertise with internationally recognized certifications. • Obtain latest tools to enhance your productivity. © AIPMM 2012
- 52. For More Information About • AIPMM membership • Certification courses in your area • Implementing the right product strategy & process to grow your business • Aligning your business model with your product strategy © AIPMM 2012
- 53. Join My Professional Network! Hector Del Castillo, PMP, CPM, CPMM Transforming products to profit for technology-based organizations.TM Product Marketing Director, AIPMM Connect: linkd.in/hdelcastillo Follow: @hmdelcastillo Contact: hmdelcastillo@aipmm.com © AIPMM 2012
Notas del editor
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.
- AIPMM offers globally recognized certifications for product managers, product marketing managers and brand managers.Certified Product Manager (CPM), Certified Product Marketing Management (CPMM) and Agile Certified Product Manager (ACPM). Certification requires obtaining a college degree, minimum one year of experience, and passing a certification examination.
- Here are some of the benefits that innovation can provide.Benefits result in increased product value for your customers and improved profitability for your company.
- The innovation process requires creativity and implementation. Innovation can be represented as a funnel to capture,screen and combine ideas into outcomes. Ideas flow in from the top and outcomes flow down at the bottom of this funnel.It is an approach to gather, categorize, prioritize, combine and screen ideas and identify viable options to implement a change into your company’s business model, strategy, processes, internal tools, emerging technologies or products.Attribute 1. Innovation involves the combination of ideas in the creation of outcomes.Attribute 2. Inputs to innovation can be tangible and intangible.Attribute 3. Knowledge is a key input to innovation.Attribute 4. The inputs to innovation are ideas.Attribute 5. Innovation involves activity for the purpose of creating economic value for your company. Innovation can be used to focus on reducing cost, time-to-market, fulfilling unmet customer needs, Attribute 6. The process of innovation is complex.Attribute 7. Innovation involves risk.Attribute 8. The outcomes are predictable as long as the screening process is managed correctly.Attribute 9. Knowledge and outcome are a key outputs of innovation.
- Why Your Company Need It?Provides a roadmap to create value for your business, customers and investors.Identifies how you plan to market and sell your products to your marketplace.Anticipates your competitors’, including new entrants, probable moves.Defines how your customers think about your products. May encompass any number of products, depending on the nature of your business.
- In their March 19, 2012 issue, FORTUNE magazine named the 50 most admired companies. The Most Admired list is the definitive report card on corporate reputations. Our survey partners at Hay Group started with approximately 1,400 companies: the Fortune 1,000 (the 1,000 largest U.S. companies ranked by revenue), non-U.S. companies in Fortune’s Global 500 database with revenue of $10 billion or more, and the top foreign companies operating in the U.S.They then sorted the companies by industry and selected the 15 largest for each international industry and the 10 largest for each U.S. industry. A total of 698 companies from 32 countries were surveyed. (Due to an insufficient response rate, the results for 11 companies in the scientific, photographic, and control equipment industry were not published. In addition, due to the distribution of responses, only the aggregate scores and ranks for the 10 companies in the oil and gas equipment/services industry were published.) To create the 58 industry lists, Hay asked executives, directors, and analysts to rate companies in their own industry on nine criteria, from investment value to social responsibility. This year only the best are listed in the magazine: A company's score must rank in the top half of its industry survey. Online, all companies' results are displayed. To arrive at the top 50 Most Admired Companies overall, the Hay Group asked 3,855 executives, directors, and securities analysts who had responded to the industry surveys to select the 10 companies they admired most. They chose from a list made up of the companies that ranked in the top 25% in last year's surveys, plus those that finished in the top 20% of their industry. Anyone could vote for any company in any industry. The difference in the voting rolls is why some results can seem anomalous -- for example, although FedEx is one of the top 10 Most Admired Companies, it is second in the Delivery industry behind top-ranked UPS, which ranked 29th on the top 50 overall.
- Recommended Reading:Harvard Business Review April 2004The Ambidextrous Organizationby Charles A. O’Reilly III and Michael L. TushmanThe Roman god Janus had two sets of eyes—one pair focusing on what lay behind, the other on what lay ahead. General managers and corporate executives should be able to relate. They, too, must constantly look backward, attending to the products and processes of the past, while also gazing forward, preparing for the innovations that will define the future.
- http://www.businessweek.com/magazine/content/11_24/b4232068147070.htm
- Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.It contain elements that apply across all industries and all companies and can also be adapted to create customized frameworks to address unique needs of specific industries and companies.It defines a standard set of inputs, processes and outputs that can be applied to any product.It provides a solid foundation for both implementing and evaluating a product management organization in a company.
- Here we show how the innovation process can be integrated with the Product Management process by aligning the phases of each process.Many innovative companies use anthropologists to discover unarticulated customer needs.We at AIPMM have our own Anthropologist to conduct research and discover unarticulated needs from prospective target customers. This can be done through non-invasive scientific observation. The discovery process requires discipline and a formalized process.The most innovative companies have teams of anthropologists within their market research teams to discover and gather unarticulated customer needs.
- A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers,shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
- A business model is a framework that describes the rationale of how an organization creates, captures and deliversvalue to customers, shareholders and employees.The business model creation process is part of business strategy.Business models are used to describe and classify businesses. They are also used by managers inside companies to explore possibilities forfuture development.
- Tips for Fostering innovationPromote open communication and problem solving.Empower leaders to be creative and propose solutions.Create a relaxed, fun, and openenvironment.Recruit and reward innovative people.Benchmark your company and products with your competitors.
- Here is an upcoming training opportunity that I will lead.
- Here is an upcoming training opportunity that I will lead.
- Here is an upcoming training opportunity that I will lead.
- Certification validates your knowledge and expertise in Product Management, Product Marketing Management and Agile Product Management.Certification evaluates your expertise regarding the product management and marketing body of knowledge.Certification provides a mark of distinction that sets you apart. Certification provides external validation of your knowledge and competence among others not familiar with the profession, improving your marketability. Certification shows your commitment to the profession and your own professional growth.Certification improves your opportunity for professional advancement, including your professional marketability, salary increases, job role and promotions.Certification requires a dedication to continuing education, promoting your continued growth and development as a professional. Certification may persuade your employer to underwrite educational activities that support your professional development and your company's continuous improvement efforts. Certification links youwith experts and thought leaders in your profession.
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.
- Contact me for any of the following:Obtain information about upcoming certification courses in your area.Let me know how I can help your business grow by defining and implementing the right product strategy.Obtain the answer worksheet.Obtain copies of these slides.