DAY 5 SUSTAIN
Finally, day 5 has come. This is the last day of the very intensive Innovation Management Academy.
We continued with Afonso Rebelo de Sousa with a very interesting topic, “Corporate startup”. Groups were presented conclusion from yesterday’s workshops. After that, all groups continued with Strategic card, the final document that Innovation manager needs to presents to senior management of the company. He stressed that business works in quarters, and Innovation Manager should always the last 10 days use for preparing a pitch for the next quarters. He will ask for the money for the next phase of the project. When it comes to validation, the suggestion is to always start with 10 (of anything) and not to overpromise to the stakeholders.
After a short break, day 5 continued with Sandra Nešić. She presented metrics for managing risk and uncertainty in the innovation process. She focused on the Business model canvas and Value proposition canvas and took the example of Hilti company.
The focus should be on what the customers are trying to get done.
There are three types of Risk:
– Feasibility – Can we deliver it?
– Desirability – Do customers want it?
– Viability – What’s is worth?
In the end, we pass through “Owlet” case study.
Very interesting presentation, “Future of work” was presented by Alina Gratschner. The presentation was the “eye opener” for all the participants.
– Investing in Artificial Intelligence in 2017 was 12 B$, and in 2022 will be 60 B$
– By 2022 more than 75 mil workers will have been redundant, but the industry will need an additional 125 mil
– By 2022 more than 54% of workers will need to re- or upskill their knowledge
Productivity grows to automation.
At the end of this 5-days journey, the management of ICT Hub wrap up this great event and gives certification to the participants.
DAY 4 GROW
After three very extensive days, we finally got … more extensive day 4. This time with Afonso Rebelo de Sousa, corporate venture builder from Brussels.
His topic was “Corporate startup”. In the beginning, Afonso explained the main difference between when a company acquires startup and when a company builds a startup within it. Both approaches are very useful, depends on the company goal. But, somehow a corporate startup we are building from the company’s own DNA. In this approach, the money comes after a minimum of one year. When a company acquires the startup, the company buys a business model, and money could be produced even faster. Usually, the whole process of creating startup takes about nine months.
After this short intro, we started to practice. The first workshop was to create a team, define which company you want to be and two areas of innovation. After that, you should find the triggers that drive innovation.
Afonso share with the participant his huge experience in the area of innovation.
After a short break, Afonso shared with us the whole process of creating a startup in a corporation. Again, we got a new task to develop further our process. Finally, we finish this day with benefits for our future customer.
When we look from the perspective of the one-day training, we did a lot of exercises.
– Scene setting
– Why innovate
– Expanding markets
– Looking sideways
These exercises help to all participant to understand the core value proposition and the business models they might have.
Afonso is a great keynote speaker. Passionate about what he’s doing, easily communicate with the audience. His lecture was two-way learning where everyone benefits from being there.
DAY 3 VALIDATE
Day 3 of Innovative Management Acadamy was the most intensive. We learned some great things in the previous two days and now is time to validate our learnings. We had a great opportunity to work with Sonja Kresojević, co-founder of Spinnaker from London. She presented the topic of Product Innovation.
First bold statement: 85% of jobs that will exist in 2030 haven’t been invented yet!
Second cruel statistic:
6% of CEOs weren’t satisfied with innovation in their company
41% of CEOs believe that the company is jeopardized by disruptor
85% of CEOs think that innovation is very important
78% of CEOs invested in the status quo!
Innovation should have some very important characteristics:
– Continuous learning
– Embracing uncertainty
– Make small bets
– Customer centricity
– Outcomes vs outputs
– Business agility
Sonja presented to us the Pearson case study. She sparkles the process of innovation and transformation in Pearson. She learned from that case a lot, and we were lucky to learn from Sonja.
Next good advice for Innovation, golden ratio:
70% invest in core business
20% invest in adjacent
10% invest in transformation
The Lean product lifecycle consists of six phases:
The idea, Explore, Validate, Grow, Sustain and Retirement
The main focus is to reduce investments risk.
After the short break, we continued with the workshop “Mapping your portfolio”. The task was for everyone to map products from their companies.
Again, great advice:
Fail fast and learn from it.
Without failure, there is no innovation.
In the end, the experience from Pearson was:
– 4 years process
– 200 coaches included
– 3000+ community
– 20+ investments cycles
Sonja is the great keynote speaker. The true innovation believer, ready to constantly innovate her way of work and constantly learn.
DAY 2 THE EXPLORING
The second day of our innovation journey. Again, it’s really great to be a part of big learners and innovators group.
Sandra Nešić has opened the second day with a really interesting lecture, Innovation models and Innovation models map. She presented almost twenty different Innovation models with concrete companies that used them in the process of Innovation. We put all the models in a matrix of Growth and Transformation. In order of output, that you want to get, you can choose your own Innovation model.
The second keynote speaker was Dušan Vukanović, Innovation and business development manager at ICT Hub. His topic was about Internal programs that support Innovation and intrapreneurship. He focused on three key parameters: Organizational design, People and culture, and Idea challenges. A lot of great quotes from Dušan:
– You cannot use knowledge from the past in the future
– Banking is necessary, but banks are not
– A crucial stakeholder is the owner of the business
– Explore while exploiting
– The one who has a customer wins
After a short break, the next keynote speaker was Kosta Andrić. His topic was about challenges in collaboration between startups and corporation.
The key characteristic of startups is scalability. That is the secret sauce that corporations desperately need. How to grow your business without extending your team? He engaged all the participants with really good presentation skills.
In the end, we had two guests, Sofija Popara, founder of Pausal.rs and Miloš Milovanović, co-founder of Things solver.
They talked about the collaboration between startups and corporations from a startup perspective. Finally, they answered many questions that the participants had.
For the second time, ICT Hub organizes Innovation Management Academy (IMA). This week, Belgrade has an opportunity to be a part of the Innovative world community. I am also privileged for being a part of that “innovative” group.
In the following lines, I will write every day about this event. My original idea is to share with the audience the best moments of this event. Five days, five reports, all in one article, day by day.
DAY 1 THE GATHERING
The event started at 10 AM, with the opening speech of Kosta Andrić, Managing partner at ICT Hub. He welcomed all participant and wished them pleasant learning. He shortly explained why the academy is so important to the business. He said that all the participant have “unfair advantage” because the participants recognize the importance of innovation and firmly grab the chance to find out how to further develop their corporations or business.
The second speaker was Sandra Nešić, program manager at ICT Hub. She presented IMA program, what we will learn in these 5 days. There are 25 organizations on IMA. In following days, we will learn how to innovate with minimum risk and maximum gain.
Đurđa Đukić organized Human Bing, really interesting ice breaker for the introduction. She is a part of the ICT HUb event organizing.
Next topic was The innovation myths, held by Sandra Nešić and Jelena Šaranović.
After a break, the keynote speaker was Vladimir Vulić from Spark.me with a very interesting topic about innovation paradox. Great energy, great motivation. He explained “Digital Darwinism”, where the business environment is changing much faster than the corporate environment. He also showed the latest survey result for employee engagement.
Only 13% of employees are engaged, 63% are not engaged and 24% are actively disengaged. He presented a lot of very useful examples in today’s or past business environment. That helps us understand better why engagement is so important for the survival of the company.
At the end of this first day, the keynote speaker was Jasmina Nikolić, an Agile organizational developer. She explained shortly the history of Scrum and Agile methodology. After a short break, we had a very interesting workshop. We were split into 6 groups. Every group had the task to choose the product owner and scrum master. After the introduction and setting up the team, we got the task to create an application for dating.
Great energy and engagement of all the participants made this first day really good time investment.