Developed an Innovation Portfolio framework for categorising, governing and managing innovation to improve the Volume, Variety and Velocity of innovation for tangible value creation.
After several years of growth through acquisition, consolidation and rationalisation, the client’s innovation pipeline was mostly ‘routine’. Faced with disruptive technologies and platforms from digital start-ups the client wanted to improve their Variety, Volume and Velocity of innovation to create greater value.
Their existing ‘New Product Development‘ processes and governance structures were not designed for a fast-paced, agile, risk-taking innovation culture.
In order to drive greater innovation variety, increase innovation volume and improve innovation velocity, the client needed to change not only processes and governance systems, but also shift behaviours and cultural norms.
Designed an innovation portfolio framework, with processes and governance systems aligned to 4 distinct innovation categories – Routine, Architectural, Radical and Disruptive.
Leveraged our Digital Engagement Platform to improve Ideation and collaboration across product teams to create a sense of shared ownership of the process and governance systems.
Adjusted rewards and recognition to align behaviours to desired outcomes for existing employees and improved hiring practices to account for more effectual reasoning capability.
Executed a robust change and communications plan.
The innovation portfolio became more balanced across Routine, Architectural and Disruptive categories.
A new product was designed and launched in under 18 months in the Disruptive category.
Volume, Variety and Velocity objectives were achieved on a sustainable innovation framework.
We have moved!
As part of a larger group we are excited at the prospect of building an even stronger company and the opportunities Davies will provide to better serve our clients and associates.
If you have any questions regarding this change, please get in touch with us today.