《GLG格理:去风险转型创新:管理假设背后的科学(2021)(英文版)(13页).pdf》由会员分享,可在线阅读,更多相关《GLG格理:去风险转型创新:管理假设背后的科学(2021)(英文版)(13页).pdf(13页珍藏版)》请在三个皮匠报告上搜索。
1、MARCH 2021By Dan Adams,Founder and President of The AIM InstituteHOW TO DE-RISK TRANSFORMATIONAL INNOVATIONThe Science Behind Managing Assumptions De-risking Transformational Innovation 1Innovation Portfolios of Top PerformersGET A COMPETITIVE EDGEBold,creative thinking and expansive strategic visio
2、n in unfamiliar markets can give you a competitive edge and create profitable and sustainable organic growth.In fact,Harvard Business Review found that top-performing companies that put 10%of their resources into transformational innovation were getting 70%of the financial returns.Your team develops
3、 ideas for new applications with unique customer benefits for unfamiliar markets,too.But these concepts are full of risks that your business model may or may not support and are just too unpredictable to pursue So,you kill the projects before they begin.Top performers think differently.Instead of lo
4、oking at the risks,they study what they dont know the uncertainties.States head of Google X,Astro Teller:“We spend most of our time trying to prove were wrong,”and,“We run at all the hardest parts of the problem first.”Top performers excel at transformational innovation because they focus on what th
5、ey dont know rather than the risks involved.With this in mind,lets look at the difference between uncertainty and risk.With risk,you must be able to assign a probability of a negative event taking place.When you work outside your regular market,you simply have no idea what that probability is.So whe
6、n you start a new project,dont assign a risk,a probability,an internal rate of return,or anything like that.Instead,simply say,“We dont know.”“Uncertainty”is simply something you dont have knowledge about right now.You can change an uncertainty to a certainty by learning about what you dont know.“Ri
7、sk”is when you“put something valuable or important in a dangerous situation,in which it could be lost or damaged,”according to Oxford Learners Dictionaries.HOW DO THEY DO IT?UNCERTAINTY VERSUS RISK THE DIFFERENCE MATTERS De-risking Transformational Innovation 2SPOT THE LAND MINESThink of the problem
8、s involved in a new project as land mines.These unexpected explosions are a greater danger in unfamiliar terrain,make it difficult to achieve buy-in from stakeholders,and offer“unhappy thoughts”no one wants to deal with.Now,instead of coming up to land mines by surprise,stepping around them to avoid
9、 the negativity they bring,or stopping your entire project,look for them in advance.Then,youll have more options to get around them.This is what top performers do when they start bold new projects.Dont let the risks stop you.Instead,approach your problems with uncertainty.You already have assumption
10、s and knowledge from past experiences,so understand those things you are aware of and discover those you are not.KEY TAKEAWAY Top-performing companies face problems head-on.While they may have much larger budgets and resources to work with than your company when it comes to transformational innovati
11、on,its more about the way they manage the process.Rather than focus on the risks,they look at the uncertainties and knowledge needed to move forward.What“land mines”can you identify that blew up your budget,schedules,and even your reputation in the past?What would have happened if you had spotted th
12、em earlier? De-risking Transformational Innovation 3So how do you do this effectively?To begin a new project,start by mapping out the territory based on past knowledge.Be aware of“factoids”when managing your assumptions.These are“something that is widely accepted as a fact,although it is probably no
13、t true.”Oxford Learners DictionariesList the things you are aware of,including:The facts you know.Assumptions of what you think you know.Questions for the things you dont know.Then,add a different section for surprises and all of the things you are unaware of at this point.The FAQs MapReducing uncer
14、tainty in B2B innovation De-risking Transformational Innovation 4Its a continuum where on one side,you have high certainty.On the other side,you have complete uncertainty.No Factoids“Item of unreliable informationthat is repeated so often that it becomes accepted as fact.”-Oxford English DictionaryT
15、he FAQs MapReducing uncertainty is your goalNext,assemble a multidisciplinary team(technology,product development,finance,marketing,and others)to thoroughly review your new idea as it relates to the entire value chain.Focus on each of the six areas of uncertainty to manage:HOW TO DE-RISK UNCERTAINTI
16、ES1 MARKET DYNAMICS Look at external assumptions like market dynamics how fast the market is growing,regulations,product standards,what do consumers want,etc.2 REQUIRED OUTCOMES From the market dynamics,examine the required outcomes necessary to be successful.We must add X to this new product to mee
17、t code,we need to reduce the size of Y to meet regulations,etc.3 DESIRED OUTCOMES Then,review desired outcomes.We want to have less waste,faster deliveries,better water resistance,etc.4 INTERNAL CAPABILITIES Next,look at internal assumptions.What are your internal capabilities?For example,do you hav
18、e sales regions in the appropriate markets,can you create this in your lab,can you scale up to full manufacturing,etc.?5 REQUIRED SOLUTIONS Once you review internal capabilities,decide and list what is going to be required to fulfill these needs.Will you need to hire more sales representatives,rent
19、or purchase more space,etc.?6 DESIRED SOLUTIONS Then,its essential to satisfy the required outcomes with a solution.The important point here is to address at least one of the desired outcomes with a desired solution and improve it.After all,the improved solution needs to be something different from
20、what is currently available.Otherwise,you just commoditize what is already in the De-risking Transformational Innovation 5KEY TAKEAWAY The goal is to reduce the level of risk and proceed with the project by converting assumptions,questions,and surprises into facts.As your team brainstorms,try to fin
21、d the assumptions that have high impact and low certainty,looking at all the things that need to be true for a project to succeed.Rate each of these assumptions asking,“What is the impact of that assumption on the points of the value chain to change in sync if its not true?”Place this information on
22、 a grid like the sample below(assumptions tracked from red to yellow to green for all six areas).Then,you can create an action plan for your team members to investigate low-certainty/high-impact assumptions and drive them to high certainty.There Are 6 Areas of Uncertainty to Manage:Using Minesweeper
23、 project de-risking softwareThe team must focus on assumptions withhigh impact&low certainty.The Certainty Matrix De-risking Transformational Innovation 6As your team members investigate the data,they drive down the“Danger”and“Caution”assumptions.This can be recorded in a monthly report as seen belo
24、w:This process provides a rational plan to remove unwanted risk,reduce uncertainty,and move forward on your project.Now,you can take all of your data and prepare it to share with your stakeholders.THE NEXT STEP IS TO CREATE A CHECKPOINT PLAN Number of Assumptions by Month De-risking Transformational
25、 Innovation 7The team builds a CheckPoint Plan to systemicallydrive a certainty.1 GENERATE ASSUMPTIONS First,look at all the assumptions that“must be true”for project success in market dynamics,required outcomes,and desired outcomes.And rather than focus solely on the use of your product,create a co
26、nsumption chain.This way,youll see more information relative to customer outcomes and avoid missing some really important assumptions in unfamiliar markets 2 RATE ASSUMPTIONS Now,converge on those assumptions that are both high impact and low certainty and have your team members share their knowledg
27、e and opinions.When opinions are repeated,you move on to the next phase of engagement,where everyone involved marks the impact of the ratings as individuals in isolation.This way,youll allow people to avoid being influenced by others or“groupthink.”Then,you can get the entire group together with dif
28、ferent perspectives to discuss and agree on the Impact and Certainty ratings of each assumption.The Consumption Chain De-risking Transformational Innovation 8To help gain their support,provide valuable,easy-to-understand information in four steps:3 INVESTIGATE THE ASSUMPTIONS At this point,your team
29、 will conduct secondary research(lab work,customer interviews,etc.)and create a Checkpoint Action Plan to investigate the red(Danger)and yellow(Caution)assumptions.This helps move these assumptions from the uncertainty to the certainty areas.4 REPORT TO MANAGEMENT With the right market research repo
30、rts,expert interviews,blueprinting type of discovery,and more,you obtain valuable data in an inexpensive,fast way.(As projects scale and production and capacity increase,this data collection becomes much more expensive.)Once your team has this data and reviews its de-risking progress,you can provide
31、 well-defined monthly updates to management to show progress.THIS REPORTING LEADS TO A DIFFERENT TYPE OF CONVERSATION AND DECISION PROCESS WITH MANAGEMENT.Now,you can show them that youre managing risk in an intelligent fashion with regular data reports that are easy to understand and differentiate“
32、updates”from“decisions.”Plus,you separate your success from the projects success and are able to tell management right away if a project doesnt deserve to continue.THIS WAY,THEY KNOW WHATS GOING ON,STOP JUDGING,AND ACTUALLY JOIN YOUR TEAM IN THE PROCESS.You pay a little to learn a lot so you can mov
33、e from uncertainty to certainty and see your transformational innovation projects become a reality.KEY TAKEAWAY Be aware that you do not take the average rating of all of your team members.You take the most cautious voice on the team with the highest Impact and lowest Certainty rating.This way,you d
34、ont inadvertently take something that should be red or yellow and move it into green as a“false green”without further De-risking Transformational Innovation 9KEY TAKEAWAY With the right data,your team can make smarter,faster decisions.Instead of Type 1“all or nothing”decisions,this reporting process
35、 allows your team to make smaller,Type 2 decisions that result in less risk,fewer costs,and an easy way to exit.Your team has innovative“big ideas”that can transform your business and provide unique benefits to unfamiliar markets.But the technical and commercial risks may keep you from pursuing them
36、.This is old thinking that needs to change.In the past,it may have been difficult to set up customer interviews in the markets you want to enter.After all,a combination of qualitative and quantitative research to get reliable data points from people who arent part of your current customer base is es
37、sential to moving forward.Plus,you need to talk to people with the expertise that you lack and survey hard-to-reach target audiences to learn what you dont know.Then,you have to analyze all of that real-time data to uncover land mines,set an action plan,and create differentiated products and value p
38、ropositions.This sounds like an overwhelming process,but it no longer needs to stop your progress.Now,you can get the current data you need to manage the assumptions of entering unfamiliar markets,provide intelligent reporting to your management team,and make smarter decisions.External consultation
39、can connect you with the experts and audiences that hold these insights.Depending on your needs,specific strategies may include:Assumptions of what you think you know Joining expert webcasts,teleconferences,or roundtables Conducting product-testing workshops or customer focus group Connecting with s
40、ubject-matter experts for short-or long-term consultation and learning and development Surveying targeted populations for insights on trends and/or field-testing strategies and moreDont let risk get in the way of your innovative ideas.Obtain the real-time knowledge you need quickly and cost-effectiv
41、ely to achieve buy-in from stakeholders and start creating profitable and sustainable organic growth in new markets.Looking to enter new or unfamiliar markets?Find out how GLGs network of more than 900,000 subject-matter experts can help your organization gain new insights from consultations,surveys
42、,and more,at .FINAL INSIGHTS De-risking Transformational Innovation 10 De-risking Transformational Innovation 11The information provided in this marketing material is for informational purposes only.Council Member data as of 2.4.21.The information is not offered as advice on a particular matter and
43、should not be relied on as such.GLG and the GLG logos are trademarks of Gerson Lehrman Group,Inc.2021 Gerson Lehrman Group,Inc.All rights reserved.REFERENCESNagji,B.,and Tuff,G.May 2012.Managing Your Innovation Portfolio,Harvard Business Review,https:/hbr.org/2012/05/managing-your-innovation-portfol
44、ioTeller,A.May 2016.“The Unexpected Benefit of Celebrating Failure,”Ted Talk, Learners Dictionaries,“Risk,”https:/ Oxford Learners Dictionaries,“Factoid,”https:/ ADAMS,FOUNDER AND PRESIDENT OF THE AIM INSTITUTEDan Adams is the Founder and President of The AIM Institute and author of New Product Blue
45、printing:The Handbook for B2B Organic Growth.In over 40 years working within and with Fortune 500 corporations,he has explored all aspects of B2B innovation,building new product blueprinting from the ground up.He is a chemical engineer and holder of many patents and innovation awards,including a lis
46、ting in the National Inventors Hall of Fame.One of the foremost experts in B2B innovation,he has taught tens of thousands of B2B professionals in every region of the world in hundreds of workshops logging up to a quarter-million miles annually.An award-winning speaker,he has lectured at Whartons Exe
47、cutive MBA and American and European universities and is a popular industry keynote speaker.The Worlds Insight Network Powering every great professional decision.How We Help GLGs dedicated,customized suite of services connects you to experts with first-hand experience exactly when you need it.Gain a
48、ccess to powerful insights and the clarity necessary to help you act with confidence,safeguarded by GLGs commitment to exceptional compliance.Within our network,more than 900,000 subject-matter experts are ready to work with and for you through Consultations,Events,Placements,Projects,and Surveys.GL
49、G Consultations GLG Consultations connect you with an expert on a specific topic,business,or industry for a call or an in-person or video meeting.This direct access helps you gain powerful insights that can drive better decisions.Connect one-to-one with an expert,or choose a moderated,translated,or
50、multiparty call whatever fits your needs.GLG Events GLG Events bring the worlds leading voices together to share perspectives and discuss trends and implications.You can attend GLG Events in person,join online via live video,or listen in from anywhere.GLG Custom Events combine the power of a live ev
51、ent with your own research objectives.Create workshops featuring industry experts who have first-hand insight or gather feedback from customers through focus groups and in-depth interviews.GLG Library A subscription to GLG Library provides access to thousands of teleconference transcripts and on-dem
52、and webcasts,both led by our global subject-matter experts.GLG Placements GLG Placements bring industry professionals to you so you can quickly get your team up to speed with even deeper expertise.GLG Projects Leaders face countless critical decisions with limited time and resources.GLG Projects eng
53、age our experts for longer-term and more in-depth engagements so leaders can draw on the best expertise in the most efficient way.For each engagement,we staff one or more top-tier consultants and subject-matter experts with experience across industries and disciplines.We offer fully managed market a
54、ssessments,competitive landscape analyses,brand analyses,voice-of-customer studies,and staff augmentation to support your work.GLG Surveys Whether you need to evaluate entry into a market,quickly test a new idea,or optimize your messaging,our experienced team of quantitative researchers can help you
55、 reach the right groups and execute surveys that meet your research objectives on your timetable.GLG Surveys assemble trusted samples from the worlds largest and most varied sources of legitimate and direct expertise so you can quickly field-test your strategies.GLG and the GLG logos are trademarks of Gerson Lehrman Group,Inc.2021 Gerson Lehrman Group,Inc.All rights reserved.Want to Know More?Wed love to talk.Call us:+852 2912 0786 Visit us: