Published on February 5, 2014
5 SIGNS THAT THESE ARE THE INTRAPRENEURS YOU’RE LOOKING FOR! ERIC TACHIBANA @ ASIAN FINANCIAL SERVICES CONGRESS
HOW CAN A SMALL COG IN A BIG MACHINE HAVE IMPACT?
HOW CAN A LEADER CREATE A BIG MACHINE THAT AFFORDS OPPORTUNITY?
1 / CLARIFY YOUR SCALE
1 CLARIFY YOUR SCALE MOST FIRMS TREAT INCREMENTAL & DISRUPTIVE INNOVATION THE SAME
STRATEGY INFRASTRUCTURE CULTURE RESOURCING INCULCATE IDEATE INCUBATE INNOVATE
APAC Innovation Program Strategic Intent (2018) Leverage both incremental and disruptive innovation to drive client delight, excite our brand, develop new revenue streams, slash the cost base, and inspire and engage employees WHERE WE WANT TO GO VISION Be recognized by clients & staff as a innovation leader in our market space HOW WE GET THERE KEY OBJECTIVES • Reboot operating model to facilitate & govern process • Make a real, visible commitment – marketing messages & budget / resource allocation • Develop and launch controlled Ideation program • Back 3-5 internal ventures • Develop open innovation program, focusing on FinTech start-ups OUR COMPASS VALUES Engagement, Commercial, Disciplined We define Innovation as the commercialization of ideas. Our Innovation may be small and incremental or large and game changing. Innovation is often unsuccessful, and failure must be encouraged too. While it may be shepherded by a small group of designated evangelists, innovation must be owned by everyone at all levels or it will not become part of the firm’s DNA. 37
Ensure a fertile landscape for innovation STRATEGY INFRASTRUCTURE GOALS Define and communicate a clear vision of why innovation matters, where we aspire to be because of innovation, and what success means tangibly. Agree on, indoctrinate, and live out the values that drive innovation. Agree on, rollout, and monitor a practical tactical mission and plan that will help us deliver our vision. GOALS Ensure that the environment is as conducive to innovation as possible. ACTIVITIES • Define Strategic Intent (Vision, Mission, Values) aligned to platform and business goals • Define & execute Comms Plan • Align operational tactical plans to strategy • Measure / monitor strategy execution CULTURE GOALS Create a culture that encourages innovative behavior. RESOURCING GOALS Ensure that we have enough intrapreneurs with the right diversity of capabilities and in the right organizational roles (seniority & coverage) to instigate and drive change and remove staff who would derail the program. Also, ensure that we have the right partner set and sensing processes to drive innovation from the outside. ACTIVITIES • Budget and resourcing allocation • Innovation Labs • Ideation & Collaboration Tools • Incentives & other policies • Physical environment ACTIVITIES • Identify and coach out derailing behaviors • Formally celebrate / communicate success & failures • Propagate stories / legends ACTIVITIES • Organizational Design, role definition, & diversity strategy • Sourcing • Screening • Induction • Training • Mobility • Pruning
Support the whole innovation lifecycle INCULCATE GOALS Use Culture, Staffing, Comms, Environment, & Infrastructure to drive day-today innovative thinking and behavior by empowering employees. They can do it. They have authority to do it. They have the space and time to do it. They have the tools and training to do it. They have the organizational tolerance of failure to do it. ACTIVITIES • Innovation Culture stewardship • Coordinate with staffing & leadership dev • Innovation & collaboration tools identification & deployment • Reporting & other communications • Intrapreneurial coaching & mentorship support IDEATE GOALS Ensure a fluid, rapid flow of ideas from inside and outside, from top to bottom, and across the organization’s business lines and functions. Make it easy for anyone to find out to whom new ideas should go. Provide an infrastructure that allows the organization to ponder, capture, share, filter & qualify good ideas and to save ideas that are good, but not ready to incubate. ACTIVITIES • Manage ideation & collaboration tools & programs (and archive) • Problem statement definition & qualification • Drive External Innovation (competitors, customers, universities, wild cards, etc) program, linkages, and agreements INCUBATE INNOVATE GOALS Create space, budget, and project management support to convert good ideas into practical prototypes and pilots. GOALS Transform the right set of prototypes into commercial change. Launch new products to market or implement organizational change on a wide scale. Track, measure, and monitor projects and spend to ensure efficient and effective deliverables. ACTIVITIES • Manage R&D Labs • Manage skunk works projects & internal ventures • Lobby for and manage venture budget • Execute stage-gate and governance processes to qualify and monitor venture projects ACTIVITIES • Facilitate front-to-back business sponsorship from ideation stage through commercialization) • Oversee productionization / commercialization and change management • Internal sales and marketing • Track business benefits 39
How we do it – business transformation plan (sample) STRATEGY Project A INFRASTRUCTURE Q4 CULTURE LL Project C Q4 AR KY DONE ET Q4 ET INITIATIVES INITIATIVES INNOVATE Project K Project F DONE PS Project U Project Q DONE PS Project V Project R Project W ET Project J Project P INITIATIVES Q4 DONE ET DONE ET Q4 PS DONE SP Project L ET INITIATIVES Project I Q4 INITIATIVES ET ET Project T ET Q4 INITIATIVES DONE Q4 Project S INITIATIVES Project H DONE ET INITIATIVES INITIATIVES DONE SP DONE Project O INITIATIVES INITIATIVES INCUBATE INITIATIVES IDEATE Project E DONE SP Project G Project N INITIATIVES LL INITIATIVES Q4 INITIATIVES INITIATIVES INCULCATE Project B Project D RESOURCING Project M Q4 Q4 ET DONE ET ET 40
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