slides - Gemini Project

1Big Idea or Bomb?What are the keys to marketplace success?Does the best technology always win?

2Does the best technology always win?Not necessarily. There’s more to the story.The Innovation Sweet Spot

Hitting The Innovation Sweet Spot3

4Today’s Agenda• Panel Introductions• Introduce the R-W-W Screen• Reality Check: Panel Stories & Lessons Learned• Open Q&A Forum• Insight to Action Huddle• Coming Attractions / Networking + Pizza

5Today’s PanelistsMike BegichOptimized Operations Manager,3MPrevious 3M experiences:§ Manufacturing Technology Mgr.§ LSS Black Belt§ Manufacturing Engineer§ BS Chemical Engineering§ MS-MOTJulie MarquardtR&D Director,EcolabPrevious experiences:§ Product Development Program Lead§ LSS Black Belt§ Product Development Engineer§ BS Chemical Engineering

6The Real-Win-Worth ScreenSource:Day, George S. (2007). “Is it real? Can we win? Is it worth doing”-- Managing risk andreward in an innovation portfolio.” Harvard Business Review, December 2007.

The Real-Win-Worth ScreenIs the productreal?• Can the product be made?• Is there a clear concept / value proposition?• Will the final product satisfy the target customers?Is it Real?• Is there a need or desire for the product?Is the marketreal?• Will the customer buy the product?• Can the customer buy it?• Is the size of the potential market adequate?

The Real-Win-Worth ScreenCan WeWin?Can theproduct becompetitive?Can ourcompany becompetitive?• Can the advantage be sustained?• How will the competitors respond?• Does it have a competitive advantage?• Can we understand and respond to marketdynamics?• Do we have appropriate management?• Do we have superior resources?

The Real-Win-Worth ScreenIs It WorthDoing?Will theproduct beprofitable at anacceptablerisk?Doeslaunching theproduct makestrategicsense?• Are forecasted returns greater than costs?• Are the risks acceptable to all stakeholders?• Does the product fit with our overall growth strategy(and core competencies)?• Will top management support it?

10Lessons from Experience§ The situation?§ What worked well?§ What went wrong or poorly?§ What lesson(s) did you learn fromthis experience?§ What best practice(s) do yourecommend as a result?

Open Forum11

3 Minute Huddleu What are 2 insights you will take away from today’s discussion?u What will you do to translate these insights into effective action?

Coming Attractionsgemini.tli.umn.edu/workshopsu February 21The Politics of Creativityu March 7Leveraging Cultural Diversity in Innovationu April 11The Technologist’s Role in Managing IPCheck out MOT 4001 (2 credits) offered every semester.

Check out MOT 4001gemini.tli.umn.edu/MOT 4001Management of Technology (MOT) 4001Leadership, Professionalism and Business Basics for Engineers and Scientists(2 credits)MOT 4001 provides scientists and engineers with a working knowledge of thebroader business context in which technical ideas are translated into solutionsthat address market needs and generate economic value for a firm. This twocreditcourse will broaden students’ business knowledge and personalleadership abilities, enabling technical professionals to increase their businessimpact and career success as innovation leaders. Course content and theexperiential learning approach are designed to reflect the “real world”requirements and challenges technical professionals need to master in order tothrive in collaborative, project team environments.