Why do 98% of Innovation projects end in failure? Today in Dublin he gave a master class on his approach called Systematic Innovation.
28th Feb 2014
Darrell was at IMI today speaking at the Industry Research & Development Group (IRDG) conference on Systematic Innovation.
‘Systematic Innovation’ is all about helping organisations to construct a repeatable formula for success.
Based on an analysis of over 3.8 million innovation attempts across every sector of human activity, the likelihood of successfully turning a novel idea into sustainable shareholder value is currently slightly worse than the odds of winning at roulette. Close to 98% of all innovation attempts end in failure.
Those attempts fail because organisations: – Ask the wrong questions – Deliver the wrong solutions – Inadequately protect their IP – Mis-handle the communication with customers & stakeholders – Take on projects inconsistent with the capabilities of the organisation – Give up too soon.
Darrell examined each of the above failure reasons to provide us with proven, deployable strategies appropriate to the context of our own enterprises.
In the workshop, Darrell addressed each of these modes of failure in their R&D context, and extracts from the 3.8 million datapoints the strategies and principles uncovered by the 2% of innovation attempts that end up being successful.
Successful innovations also come through understanding your customers (and those that aren’t yet your customers) better than they understand themselves.
True understanding of customers means anticipating their current and future needs. It also means understanding intangible and unspoken desires as well as their known tangible ones.
The programme is the outcome of over 2000 person years of research into the DNA of creative success. It is the only philosophy, method and toolkit capable of tackling and generating breakthrough solutions in today’s challenging and increasingly complex business environment.
Key Topics Darrell covered were
1) Big Picture – Why so much R&D results in so little innovation
2) Understanding Customers Better Than They Understand Themselves
3) Generating Breakthrough Solutions – Finding & Eliminating Trade-Offs
4) Bulletproofing IP – Predictable Evolution Directions
5) Innovation Capability
6) Putting It All Together – Top 5 Things To Do Differently Tomorrow
About Darrell Mann
Featured in Who’s Who in the World, Darrell Mann is recognised as one of the world’s most prolific inventors and has generated over a dozen patents and patent applications. He has spent much of his working life trying to understand why 98% of Innovation projects end in failure and has come up with an approach called Systematic Innovation.
He now implements this approach with clients including Intel, Hewlett Packard, Procter & Gamble, General Motors, Nestle, & Mahindra, MindTree, Samsumg, Telekom Malaysia, Hong Kong government & many more. His early career was spent in various R&D roles at Rolls-Royce before he became chief engineer responsible for the company’s long-term military engine strategy.
About the IRDG
The Industry Research & Development Group (IRDG) is a non-profit, business-led Innovation Network of member companies, working together to drive excellence in Innovation within Ireland’s industry to create growth, jobs and prosperity. Membership of the IRDG is extensive, including indigenous and multinational organisations, of all sizes, across all sectors of industry. The common theme that brings all members together is their interest in progressing their business through Innovation & R&D. We took the opportunity to catch up with Darrell between international flights to ask him about extending his advice to the broader business community… in just six words of course
About the IMI
IMI is a membership organisation that reflects a spectrum of Irish industry, from the smallest micro-organisations to the world’s largest multinationals. For sixty years IMI has pioneered the development of executive education in Ireland. Thousands of senior executives attend developmental programmes at IMI annually, ranging from NFQ level 9 Masters and Diploma qualifications to one and two day master classes. IMI also acts as a “business partner” for organisations that are looking to align comprehensive learning and development strategies to support the execution of business growth strategies.
Innovation, Marketing, Technical, R&D, Leadership, IP, intellectual property, patent, Systematic Innovation
Posted in Seminars