Mastering Innovation: Driving Growth and Profitability

By Josiah Go

Innovation can increase revenue and reduce cost; hence, it is the job of everybody. But while many are desirous of innovative products, services and process, many companies do not spend enough time thinking about innovation because of lack of knowledge of what innovation really is, where to find it, what innovation strategies are available for them, and what process and tools to help them do it. Other companies are busy protecting their financial position; hence, opportunities for innovation are either ignored or rejected.
This seminar will share how innovation can be done across the company’s value chain instead of treating it as a mere R&D function and define what tools and strategies are available so firms can weave together marketing, product development, logistics, value chain, IT and HR to drive innovation and growth in the organization.

Key Benefits to Participants
Each participant will learn:

  •          How to understand innovation - types, challenges and opportunities
  •          How to apply innovation tools and understand fundamentals of insighting
  •          How to find new sources of increasing revenue while reducing cost

Key Benefits to the Company
The company will gain:

  •          Strategies and tools to actualize innovation as a core value
  •          A value chain directly linked to innovation
  •          More empowered teams to find new ways to drive growth and profit

Program Overview:
Module 1: The W’s of Innovation

  •          Innovation and how it can help companies profitably grow top line
  •          Innovation is more than new products
  •          Paradox of efficient organization
  •          Difference of idea, invention and innovation
  •          Sources of innovation (manufacturing-driven vs. lead-user driven)
  •          Key factors for success in innovation

Module 2: Innovation Throughout the Company’s Value Chain
·         Understanding value chain
- Value chain design: Factors vs. outcome
- Why value chain design is as important as product design
- 6 Factors affecting value chain design
- Where to focus in your value chain innovation
- 3Es of value creation
- Innovation to improve internal efficiency versus customer’s relevance
- How IT and HR can use innovation to be game changer inside the company
Module 3: Choosing Your Innovation Strategy
·         Types of available innovation
- Innovation classified by impact to business
- Choices (Breath vs. Degree)
Module 4: Innovation Process Management & Measurement

  •         4Ss of innovation process
  •         Findings on relationship of R&D spending and innovation
  •         4Ss & 3 Categories: What should be tracked during pre-launch, launch and scale-up.

Module 5: Nurturing Innovation Mindset

  •          Making innovation a repeatable and sustainable system
  •          Involving the entire company, not just tech or R&D group: How to start an innovation mindset?
  •          Coaches versus colonizers: Incremental vs. radical innovators
  •          4 factors to make or break innovation program
  •          Challenging 4 norms of teams
  •          Innovation leaders and communication style for innovation strategy
  •          Critical roles and competencies for innovation process
  •          Building an innovation culture

Target Audience:
·         Business leaders, Functional Managers across value chain
·         Companies whose core values include innovation
·         Companies desirous of innovation as competitive advantage
Case studies from the following industries will be discussed:

  •         Apparel
  •         Artificial intelligence
  •         Automotive  
  •         Banking
  •         Business process outsourcing
  •         Coffee
  •         Conglomerate
  •         Construction and infrastructure
  •         Consumer electronics
  •         Consumer health
  •         Convenience stores
  •         Entertainment
  •         Fast moving consumer goods
  •         Financial services
  •         Logistics
  •         Medical clinic
  •         Online platform
  •         Packaging
  •         Paper
  •         Payment services
  •         Petroleum
  •         Pharmacy
  •         Raw materials
  •         Retail
  •         Sports
  •         Telecom
  •         Watches

Chairman and Chief Innovation Strategist
Josiah Go is chairman of 12 corporations and author of 17 best-selling marketing books. His specialization is in the area of market-driving strategy, business model innovation, profit strategy and innopreneurship where he has personally facilitated over 1,000 marketing, strategy and innovation workshops here and abroad since 1990. He took advanced marketing and innovation programs at MIT Sloan, Kellogg, London Business School, Wharton and at the Blue Ocean Strategy Institute.
For pioneering and successfully sharing many educational initiatives, “Joe” was honored as one of the Ten Outstanding Young Men (TOYM) of the Philippines in 2001, and one of the Ten Outstanding Young Persons (TOYP) of the World in 2002 in the field of business education, and was awarded by his peers the rare Lifetime Achievement Award in 2007 by the Association of Marketing Educators. He was also accorded the World Brand Leadership Award in 2009.