CEOs Meet Innovation CEO in PPPO 9th Masterclass

On the 27 July 2014, PPPO had its 9th Masterclass on Come, Innovate! The Innovation Master Plan.  With courtesy from our partner TSM in Singapore, we have invited innovation thought leader, Mr Langdon Morris from InnovationLabs USA to share with participants on the Principles of Innovation and how to apply them. Langdon has led the innovation practice at InnovationLabs since 2001. He is known worldwide for his work in innovation, strategy, and collaboration methodologies.



Langdon spoke on the critical importance for continuous innovation with methodology through the 11 Best Practices of Innovation (tabled below) as the key to sustainable handling of challenges in Strategy, Speed, Risk and Competition.

Relevant worksheets and profiling questionnaires were shared with the participants, who were made up of CEOs and senior management staff from the infocomm media (ICM) industry.

Innovation for an organisation should not be just a Eureka! Moment. With the pointers from the 11 Best Practices of Innovation, participants were able re-frame their mindset on how innovation should be carried out within their organisation long term growth and competitiveness in mind. 


SiTF PPPO would like to thank our SITF member partner, The SMART Methodology and Mr Langdon Morris from InnovationLabs USA for the session of knowledge sharing, ideas exchanges and discussion on Innovation methods applied in the Asian, especially local context. Last but not least, we like to thank IDA’s support for making this series of masterclass on productivity and productisation comes to life.

With the success from this masterclass, PPPO will organise workshops to dive deeper into the process of technology innovation. Visit theportal.sg EDUCATION tab for details.

11 Best Practises of Innovation

S/N

Traditional Practice

Best Practice

1

Innovation begins with ideas.

Vision drives Strategy, and Strategy drives Innovation. Innovation is tightly coupled with strategy to drive strategically relevant organizational outcomes.

2

Since we start with ideas, we end up with a collection of innovation projects.

We carefully design our innovation portfolio to address our short, medium & long term growth requirements.

3

We don’t know what our innovation strategy is.

We have sorted out the difference between “play to win” & “play not to lose” strategies. We know what we’re doing, & why.

4

The CFO has no visibility into the innovation work, & therefore lacks confidence in the effectiveness of the process & the efficacy of the results.

CFO is a key partner in the innovation management process, & has tools that provide visibility into the process which then gives confidence in the results.

5

Our way of approving & funding ideas drives us towards incremental efforts only.

We design the ideal innovation portfolio up front to balance incremental & breakthrough investment.

6

Pursuit of customer insight is not at the centre of innovation process, & may not really be present at all.

Systematic pursuit & achievement of customer insight is central to the ideation & innovation ideas assessment process.

7

ROI calculation is done up front, which kills ideas, kills learning and become an obstacle to explore new ideas.

ROI calculation is done only on ideas that are validated as strategically relevant & address genuine customer needs. Investment commitment is made only for validated concepts.

8

We don’t adequately utilise the talent & expertise of our people or our ecosystem.

The entire organization is fully engaged, along with the external ecosystem.

9

The logic of operations and the logic of innovation are in conflict.

The logic of operations and the logic of innovation are complementary and mutually reinforcing.

10

Insider perspectives dominate.

Insider & Outsider perspectives are both valued.

11

Growth targets for Innovation are hazy.

Growth targets for the innovation effort are precise, documented, measured and managed methodically.