Part 1: Starting Corporate Innovation Program

I am writing this in TWO main parts:

  1. PART 1: RECHARGE with 2 phases:
    1. First Wave: Rebuild Engagements
    2. Second Wave: Rethink Business Strategies
  2. PART 2: REWARD with 2 phases:
    1. First Wave: Reimagine Products & Services
    2. Second Wave: Relaunch Success

PART 1: RECHARGE

Purpose of Recharge is to enable the organization to be aware and find some clarity there’s something new coming for them. They need to contribute, be part of and develop this new initiatives together. In other words, their participation is crucial. Often in some discussion from my experiences, I found some of this innovation is only circumvented from a particular department or division. What makes matter worse if innovation is deemed “IT – information technology” department.

The top management should get consented from the Board for strategic innovation initiatives such as Corporate Innovation. The Board should support this and getting them early is going to make your job easier later on. Hiding behind buying tech gadgets and solutions will only make things difficult not too far ahead. Best to come clean with strong and strategic proposals.

First Wave: Rebuild Engagements

  1. Find a department / division that’s willing to engage the people across the organization – collaboration is paramount. Naturally, the HR is positioned to do so, however I have seen in many organizations, the HR tend to be operational-ONLY. They are not interested with people development beyond the usual training, training and training. If this is the case of your HR Head, you will have a lot problems in doing something disruptive and different. Visionary HR head knows they will reap the rewards very soon when they support and open up the floodgate of ideas from the workforce.
  2. Some HODs/HODivs from IT or Corporate Strategy or CEOs office, could be useful in driving Corporate Innovation. Keyword to look for is someone that is “willing to engage across the organization”. I have seen IT heads doing this. Word of caution, some IT heads are too technical and prefer to do remotely – avoid this too. We could help you find out as well using our assessment method – in case you are asking.
  3. Run a 1-2 months “Ideation / Ideathon / Ideanation / Hackathon / Idea Tournament” program – where you collect ideas across the company. You can either open in up to “any ideas” or you can zoom in to few areas such as “People, Process, Product, Services, Technology etc..”. Avoid too much complicated jargon, key is to get as much participation as possible and the soonest possible.
  4. You can ask the workforce to send ideas via email, google form, whatsapp, ideabox or idea management platform (we got this covered).
  5. Ideas start pouring in and you will need to sort them. Here is where you need cross departments committee to help sorting. Again, find people that are willing during this first round. With idea management platform, you will find this sorted in matter of hours instead of days!
  6. Once ideas are sorted, you can rank those ideas and select top 30 ideas (for example) to go to deep dive innovation skills program or innovation lab and tap into all the interesting ideas.
  7. Make sure you give recognition to everyone (yes everyone) that contributed to the ideas pool. Not that difficult to do, automate a simple certification or organize a get together ideators with the top bosses.
  8. Your innovation lab could be a 3-5 days immersive design thinking workshop with emphasis on building empathy, business models and users jobs to be done.
  9. Forget about the technology or ROI or bottomlines or profit rates or cost of developing for now. Let the ideas bloom and let them pitch it as it is.
  10. Evaluate all ideas in a simple pitching competition, let the ideators find their own team members internally to grow those ideas. The management team could become the ideas judge or evaluator to get a sneak peek of what’s available from their workforce. Go there with an open mind.

Ok, now you completed the Part 1: Recharge: First Phase (Rebuild Engagements). Reach out to me for clarification. Meanwhile, I’ll be writing the Part 1 Second Wave: Rethink Business Strategies.

Brickbats please email to donkhairul@gmail.com

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Why Corporates Need Corporate Innovation?

I will go straight to the point this time, no BS here. 😉

Here are the FIVE Observations that make corporates need Corporate Innovation, within this year:

  1. The corporation no longer effective in capital allocation. It only spend on what it has been doing over the years since its founding days. The growth is stagnant? Right? There have been talks about why the auto market is stagnant, utilities market is stagnant, banking market is stagnant and education market is stagnant? Is it really? Think again. The corporate hiring is all time low, even if they do it is only incremental. How big can you hire anyway? How much capex do you want every year?

  2. The employees in that corporations have been out of touch from the customers worldview and realities – things they go through in every day life. The employees think that if you are an executive or business people, you will need a bank account so you will go to the bank freely without the bank having to promote to you any service. So they hesitantly “provide service” with the hope you will get out the branch quickly. The employees only know their job (think they know?) and only worry (pay attention) to their yearly increment. The employee has never thought how important you are because he is not in the marketing department!
  3. The people in the corporations no longer recognize each others strengths and passion anymore. They know each other by searching the names in the company database by their work title and department. They only care about numbers, bottomlines, KPIs, processes, SOPs and their own bosses. They forget the empathy in their colleagues and the motivation they come to work for.
  4. The corporations are a lot less helping the nation progress and becoming productive. Profiting RM100 million a year isn’t the same as elevating 1,000 people out of electrical poverty or lack internet access. The corporations care-less about the environment they operate and the shared prosperity – they only care about batches of production they need to make, the stuffs they have to deliver. They polluted the areas and take away the prosperous-ness in the areas.
  5. The suppliers and vendors of the corporations are non other than the same big boys instead of local business and startups with creative and innovative products and services with energetic and entreprneurial founders. The corporations with all their busy-ness tending to the bottom line didn’t get out of the building to look for what’s new, what’s better and what’s ahead. They are confined confidently in the comfort of large, air conditioned and well equipped office.

In the Corporate Innovation program, corporations will unbox, rediscover the untapped opportunities within the layers they have and assets they kept are abound; right on their backyard, under their nose and in their neighbourhood.

Brickbats please send to donkhairul@gmail.com 

#corporateinnovation #innovation