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Session 3: What is a 'value player' and how do you become one? -…
Session 3: What is a 'value player' and how do you become one?
Notes from ‘The innovation value chain’ (Hansen and Birkinshaw, 2007):
Innovation Value Chain Framework:
Idea Generation
Ideas come from 3 sources:
Internal sourcing - Ideas generated within teams or departments.
Cross-unit sourcing - collaboration between different business units.
External sourcing - ideas from customers, suppliers, universities or partners.
Key issue: companies lacking ideas or access to diverse sources.
Idea Conversion
Turning ideas into products and services. Done through 2 activities:
Selection - screening ideas and choosing those to fund.
Development - transforming selected ideas into products or business opportunities.
Key issue: businesses struggle to fund or develop good ideas.
Idea Diffusion
Spreading innovations across organisation.
Rolling out products or practices across markets, divisions and customer groups.
Key issue: businesses develop innovations but fail to scale them effectively to match the user.
Common Innovation Problems
Idea-poor Companies
Business struggle to produce new ideas, need to build external networks and cross-unit (department) collaborations.
Conversion-poor Companies
Businesses have many ideas but fail in selecting the right ones to develop effectively or ideas are rejected due to risk or bureaucracy, need to have multichannel funding or safe havens for experimental projects.
Diffusion-poor Champions
Businesses develop ideas but fail to spread them across the company, need to have internal champions that belong to each department or have strong networks to promote adoption.