Thursday, May 17, 2012

Live from Front End of Innovation 2012: Business Innovation

Whirlpool’s Third Diamond: A disciplined Process to Realize and Extract Maximum Value of Innovation in Marketplace was presented by Moises Norena, Global Director of Innovation, Whirlpool.

At Whirpool, Innovation is about customer needs and taking that to innovate and create value for customers - fill that demand.

Their innovation process is about discovery and then developing opportunities and experimenting. They also measure innovation: innovation funnel, pipeline, revenue.

3 Diamonds:
Develop Opportunities & Experiment
Measure Innovation

One example is the Fabric Care Pilot: Alpha platform which identified 20 opportunities to maximize value extraction. This case study is now used as the process for the company and the principles are applied on all their projects.

It’s Just Numbers, Right? Prioritizing Investments across the Global Business Portfolio with Ryan Frank, Director of Marketing, Global Innovation, Abbott

Brand categories often address consistent core needs for consumers globally. But global portfolios carry diversity and complexity. Lots of work but little return, but crucial for global expansion. Must do the homework.

For example, baby boomer trends, like healthy aging are becoming global trends, not regional: US, Asia, etc., Find those similarities or differences, understand the insights before placing something in the pipeline. Often, it's the internal artifacts of our business that drives the real differences.

  • Start with insights
  • Leverage core knowledge for phased impact of new tech
  • Value early investments

Innovation Buy-In: Enabling Effective C-Suite Decision-Making Support for Breakthrough Innovation Efforts: with Gordon Hui, former AVP Innovation, The Hartford, Director of Business Design and Strategy, Smart Design LLC

Begin with the end in mind: what is the business going to look like when you bring this to market
Know why the pilot is happening
Think about long term growth, near-term impact

Valerie M. Russo is a Senior Social Media Strategist at IIR USA with a technology, anthropology, marketing and publishing business acumen.  She is a published poet and also maintains a literary blog. She may be reached at Follow her @Literanista.   

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