While clearing off the desk today, I came across a planning document for a keynote for fairly major organization I did quite some time ago.
It’s a good summary of the issues that my keynote would have to address, and the potential innovation solutions that emerged. This particular organization was in the retail space; through conversations with several member of global management, we built a list of the key issues that I would focus in on my talk: these being the key issues that the leadership believed that the rest of the team need to be thinking hard about.
- faster emergence of new store infrastructure : i.e. contact-less payment technology is now emerging with Blackberry, iPhone’s, and other smart-phones. What happens when this occurs on customer interactions ; how quickly can a retail / restaurant organization scale to deal with it (i.e. rapid technological innovation is continuing unabated despite the economic downturn, and things like this will have a big impact on how business is done!)
- faster challenges in terms of freshness of brand image: today, with the impact of the Net and social networks, a brand isn’t what you say it it — it’s what “they” say it is
- new influencers: consumers are influenced in terms of choice in ways that go beyond traditional advertising. For example, consider the Celebrity Baby Blog (yes, there is such a thing), and how it has come to influence fashion trends for infant wear
- new forms of brand interaction: the concept of the “location intelligence professional” — corporations are deploying strategies that integrate location into the virtual web, interacting with above mentioned cell phones that provide for in-store product uplift
- rapid emergence of store architecture issues: intelligent infrastructures – McDonald’s has a $100 million energy saving plan that is based on IP based management of in store energy We’re also seeing the rapid emergence of green / eco design principles that provide more opportunities for savings
- faster evolution of consumer taste preference : new food trends go from upscale restaurant to broad deployment in as little as 18 months now, compared to 5 years ago; consumer choice changes faster, requiring faster innovation!
- faster idea cycles. New concepts, ideas, business strategies, advertising concepts happen faster because of greater global collaboration ; brands have to keep up with the idea cycle
Next, my keynote would touch on how the client could be more innovative in dealing with fast paced trends? Some potential methods include:
- the concept of upside / down innovation – customer oriented innovation
- generational collaboration – how to unleash the creativity of Gen-Connect
- concept of business agility: how do we structure ourselves to act faster
- theme of experiential capital : how can we take on more risk oriented projects simply to build our expertise in new areas such as social networking
- fast, global, scalable project oriented teams : how do we learn to collaborate better internally
- innovation “factories”: how can we scale successful internal projects faster to achieve greater benefits
- partnership oriented innovation: how do collaborate on innovation with our suppliers and others in the supply chain?
Some of the conclusions that came from the global discussions in the lead up to the event? These were responses draw from the audience through the use of online text message polling:
- we need to learn how to innovate more locally but globally scale
- a better “innovation factory” to rollout is critical
- can’t compromise speed to market with structure/bureaucracy
- spread R&D out
- collaborate to a greater degree on an international basis
- innovation should be part of reward and structure
- more brand clarity, particularly given muddiness of impact of social networking
- need a more forceful commitment ($, structure, rewards, goals) to innovation
From this, I built my keynote so that it had a structure of “what are the issues,” “what do we need to about them in terms of potential responses”, and “what are some of the organizational changes we need to make to deal with them.”
It turned out to be a great talk!