The State of Innovation Martin Pattera

Now online: State-of-Innovation #9 with Tony Ulwick, innovation pioneer, author of books and articles and creator of the "Outcome-Driven Innovation" methodology: 



"Opportunity Discovery – A new perspective and lessons learned" 



Tony Ulwick is a pioneer in the field of innovation, and his Outcome-Driven Innovation framework has been adopted by some of the world’s leading companies. By tuning into this episode, you’ll gain insights that are not only theoretical but also highly practical and applicable to your own business challenges. 

 

Key Takeaways of that Episode: 


A new perspective on how to become more customer centric 


Real life examples on how to consistently create breakthrough products 


Experiences on how to accelerate revenue growth 



 

Tony gives real-life examples on his ideas as the creator of the Outcome-Driven Innovation (ODI) strategy framework. It helps businesses discover opportunities for value creation by focusing on customer outcomes. Instead of traditional market research, ODI identifies the specific jobs customers want to get done and the outcomes they desire. By understanding these needs, businesses can develop products and services that directly address them, reducing the risk of failure and increasing customer satisfaction. ODI enables companies to uncover unmet needs, prioritize development efforts, and create solutions that provide real value, leading to a competitive advantage and sustainable growth. 

 

What do you think? Looking forward to your comments :)

 

#stateofinnovation #opportunitydiscovery #customercentricity #outcomedriveninnovation 

Now online: State-of-Innovation #8 with Katharina Lowinski, founder of ryvr.me and former innovation manager with Volkswagen AG: 



"How to innovate in a non-core business area – lessons from an innovator in the automotive industry" 

 

In this episode, Katharina shares her experience with building up a digital platform out of the core business of a leading automotive company.

Short spoiler: when you burn for an idea, make sure to make the management excited about it, as you need them to sponsor your idea. Pick one person that likes your product and can help you raise your voice. It's also important that such a promotor can make sure you have access to resources and experts in the organization. Support is needed if you want to create something new. 

 

What to expect from that Episode: 


What is the rational to innovate in a non-core business? 


Why it is important for a car manufacturer to think about mobility as a whole! 


How to keep the fire burning even in bad weather! 



 

A very important question that we are discussing is "what exactly is the core business?", as that is the ultimate question to gain understanding on what a "non-core business" would be. Is a navigation service core or non-core for a car manufacturer? What about helping people arriving on time at a meeting in urban areas? What about helping people to organize a weekend trip with friends? There are many "jobs-to-be-done" where a car may play an important role. In all of these examples people cannot get the whole job done just by using a car. It takes planning, preparation, knowing how to execute a travel, monitoring, and knowing how to modify a travel or the mode of transportation. And not to forget about "the last mile" when finishing a travel (at the point of destination). A car manufacturer may decide if any of these jobs or job steps are considered "core business" or if that term only covers an existing product that currently generates revenues (e.g. car sales). Depending on how a company defines its core business (e.g. the existing line of products, or the core job that is being supported with different solutions) may change how innovation is being managed, focused and budgeted. In a nutshell: Innovating in a non-core business is first of all a question of how you define it, and then a question of how to create a mindset towards helping customers get their jobs done better ;) 

 

What do you think? Looking forward your comments :)



#stateofinnovation #mobility #automotive #opportunitydiscovery #customercentricity #outcomedriveninnovation 

Now online: State-of-Innovation #7 with Gudula Feichtinger, head of center of excellence customer & market insights at Palfinger who was also a co-founder of the first internet service provider startup in Austria, back in 1993: 



"Customer centricity is a team game! – How to align a large organization on customer centric value creation" 

 

In this Episode Gudula explains why "you cannot have a billion dollar idea in a million dollar market", and why it is not sufficient to only look at unmet needs but to consider value creation potential in a global market. 

 

The topic of the meeting was the significance of customer insight as a strategic group effort and the importance of customizing products to meet customer needs. 

 

What to expect from that episode: 


How to overcome the risk of overengineering when you are already technically excellent 


How to discover opportunities for value creation in a global market 


How to ensure customer opportunities are being translated into business opportunities in a global organization with many different product lines 



 

There is a real dilemma: When talking to customers one may realize that discussions always circle around their needs related to the "existing" solutions. How to understand what "new" solutions would deliver exceptional benefits to those customers? An automatic crane controller may not be seen as a big advantage for an experienced crane operator. And…how can a crane manufacturer know and validate that a specific solution idea would really deliver significant value to users, in a way that they would make use of it, pay for it and see it as a differentiating factor to other solution providers? It takes a different perspective to look beyond existing solutions and to understand the "true" customer needs, independent of products that are already on the market. By understanding the whole "job-to-be-done" that a customer has a product strategist may find areas that are not being covered with existing solutions – a key for product portfolio extensions and even new business model approaches. Taking an organization on that journey is not easy but may generate a huge impact on the bottom line. 

 

What do you think? Looking forward to your comments :)

 

#stateofinnovation #machineryengineering #constructionindustry #opportunitydiscovery #customercentricity #outcomedriveninnovation 

 

 

 

Now online: State-of-Innovation #7 with Gudula Feichtinger, head of center of excellence customer & market insights at Palfinger who was also a co-founder of the first internet service provider startup in Austria, back in 1993: 


"Customer centricity is a team game! – How to align a large organization on customer centric value creation" 
 
In this Episode Gudula explains why "you cannot have a billion dollar idea in a million dollar market", and why it is not sufficient to only look at unmet needs but to consider value creation potential in a global market. 
 
The topic of the meeting was the significance of customer insight as a strategic group effort and the importance of customizing products to meet customer needs. 
 
What to expect from that episode: 
- How to overcome the risk of overengineering when you are already technically excellent 

- How to discover opportunities for value creation in a global market 

- How to ensure customer opportunities are being translated into business opportunities in a global organization with many different product lines 

 
There is a real dilemma: When talking to customers one may realize that discussions always circle around their needs related to the "existing" solutions. How to understand what "new" solutions would deliver exceptional benefits to those customers? An automatic crane controller may not be seen as a big advantage for an experienced crane operator. And…how can a crane manufacturer know and validate that a specific solution idea would really deliver significant value to users, in a way that they would make use of it, pay for it and see it as a differentiating factor to other solution providers? It takes a different perspective to look beyond existing solutions and to understand the "true" customer needs, independent of products that are already on the market. By understanding the whole "job-to-be-done" that a customer has a product strategist may find areas that are not being covered with existing solutions – a key for product portfolio extensions and even new business model approaches. Taking an organization on that journey is not easy but may generate a huge impact on the bottom line. 

 
What do you think? Looking forward to your comments :)
 
#stateofinnovation #machineryengineering #constructionindustry #opportunitydiscovery #customercentricity #outcomedriveninnovation 

Jetzt online: State-of-Innovation #6 mit Philipp Eisele, Head of Product Management Integrated Solutions Loader Cranes bei Palfinger Cranes: 



"Innovation im traditionellen Maschinenbau – wie man erkennt was Kunden wirklich wollen!" 

 

Das Produktmanagement hat eine Brückenfunktion in mehrfacher Hinsicht. Einerseits wird dort die Unternehmensstratgie in Produktstrategien übersetzt.

Andererseits werden Potenziale für Wertschaffung auf Kundenseite erkannt und durch die Weiterentwicklung des Leistungsangebotes umgesetzt.

Im Ergebnis muss der Kunde Mehrwert erkennen, für den er/sie auch bereit ist zu bezahlen. Zudem soll der Mehrwert einzigartig sein und Palfinger von Marktbegleitern differenzieren. Und am Ende müssen wirtschaftliche Zielsetzungen erfüllt werden. Keine ganz leichte Aufgabe! Manche sagen, das macht das Produktmanagement ja auch so spannend ;) 



Darum geht’s in dieser Episode: 


Was sind die drei Kernfaktoren, an denen ein Kunde Mehrwert misst (es ist nicht der Preis!) 


Warum es wichtig ist, in Kundengesprächen nicht an das eigene Produkt zu denken  


Wie man erkennt was Kunden wirklich wollen, und damit kurzfristig Mehrverkäufe generiert 


Wie man das Potenzial für einen neuen Produkt- oder Geschäftsbereich rechtzeitig erkennt 



 

Diese Episode baut auch auf den Aussagen von Stephan Ackermann auf, der näher darauf eingeht, was zu tun ist, wenn ein Wachstumspotenzial gefunden wird, welches ein komplettes Umdenken der Organisation erfordert.



Aus meiner Erfahrung ist es sinnvoll, nicht nur zu verstehen, was Kunden wollen, sondern auch festzustellen, welche der vielen Needs, denn tatsächlich für die Mehrheit der Kunden relevant und nicht gut erfüllt sind, als Grundlage für strategische Entscheidungen im #produktmanagement.



Ich freue mich dazu über Eure Kommentare :)

 

#stateofinnovation #customercentricity #opportunitydiscovery #outcomedriveninnovation #maschinenbau 

 

 

 

Now online: State-of-Innovation #5 with Frances Mitchell, director of innovation at Teleflex with a background in medical technology, product design and some practice in the music industry: 

"Data driven or human centric – how to innovate?" 

 

We talk about the difference in how start-ups (fast pace, risk taking) and how corporates (committed to impactful results) innovate in MedTech, and how to combine both in a smart way? 

 

A quote of Frances that I want to share upfront is this one: "The human body and fundamental clinical problems don’t change a lot over time and are stable in our equation. But how to address good solutions for them is what we can affect." 

 

What to expect from that episode: 


How to build a pipeline for new product development 


How to know that you know enough to take a decision on an innovation initiative 


How to get a bigger picture when looking at platform solutions across different business units 



A data-centric innovation approach focuses on using data and analytics to drive decision-making and develop new products or services. This approach relies heavily on collecting and analyzing quantitative data to identify priorities, patterns, and insights that can lead to innovative solutions. An innovation strategy shall always rely on facts and data to validate focus, and to reduce risk of failure. 



On the other hand, a human-centric innovation approach is focused on understanding the needs, behaviors, and preferences of users or customers. This approach involves conducting research, engaging with users, to create products or services that are tailored to meet specific needs and desires of individuals. An innovator may want to understand all needs of a specific target group, to be sure not to miss a potential opportunity for value creation. 





In summary, the main difference between a data-centric and human-centric innovation approach is the primary focus of the approach - data-driven insights versus user-centered design. Both approaches have their strengths and weaknesses, and the most successful innovation strategies often incorporate elements of both approaches.



According to Frances it is important to try to really understand what people needs are and then quantify/validate them. 





#stateofinnovation #medtech #opportunitydiscovery #growthstrategy #customercentricity #outcomedriveninnovation