Wednesday, February 01, 2006

Growth and Innovation Conference Day One

I'm attending the Growth and Innovation Conference in NYC February 1 and 2. I thought I'd summarized some of the topics and interesting ideas coming out of the conference. So far, the first day has been great.

The keynote speaker, Lorraine Segil, identified several barriers to collaboration across product development lifecycles which impede innovation:

- lack of transparency
- cultural misalignment
- fear of failure
- lack of senior management commitment

The second panel, including senior executives from Pitney Bowes, Motorola and CA, talked about customer driven innovation. Their conclusions:

- Voice of the customer is good, but not enough. Pitney Bowes uses customer-centric innovation, understanding the customer's problem, then applying their own technologies or determining what new capabilities are necessary.

- Partner with the best, innovate the rest. Motorola partners with Oakley for sunglasses with mobile technology, and other leaders in their field to extend mobile data.

- No more field of dreams, or 1000 points of light - innovation must be focused on customer needs

It's clear from the discussions and questions that there needs to be a method to define what we mean by innovation when people talk about it - disruptive innovation or incremental innovation; big company innovation or small company innovation; product innovation or service innovation; etc

Many speakers are talking more and more about idea "incubation" - the idea that an idea must be captured, and developed before it is examined.

The lunch speaker, a gentleman who had run two startups and worked in very innovative firms (LoudCloud and Opsware) said there are two emotions in innovation - euphoria and terror.

Something I thought was very interesting - J&J is starting an innovation team outside of the business units and tasking it with encouraging disruptive innovation and ignoring existing business models within J&J.

What really surprises me is how little discussion there is around service model, business process or other innovation beyond product innovation. Given that less than 20% of our economy is product based, and 80% is service based, there is still not much discussion on service model innovation.
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posted by Jeffrey Phillips at 7:11 PM

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