Working within a complex ecosystem can present several difficulties. From our experience across industries, there are common barriers to designing and implementing an effective innovation strategy and model:
Markets with different maturities and needs can each have their own interpretation of the role innovation should play. For less mature markets, innovation might become an opportunity for disruptive changes in the market generating a first movers’ advantage. For more mature markets, innovation becomes the lever that protects your brand portfolio against competitors.
Innovation requires involvement from all areas of the business. While marketing and sales can take center stage in the push to address portfolio opportunities, supply chain and procurement are critical for enabling this strategy. Managing multifunctional inputs and clarifying roles and responsibilities are as core to success as the quality of the strategy.
Developing a consumer-focused strategy and using segmentation to meet specific needs rather relying on inward-looking perception
Learning from your past successes and mistakes to take informed risks whilst not being afraid to innovate
Using a deep understanding of your products and market to set a clear role for innovation with a strategic intent aligned with your capabilities as opposed to copying and pasting from competitors
Ensuring alignment across the organization with enabling factors available to support implementation
Building a feasible implementation timeline with resource and investment decisions based on strategic objectives
Setting clear roles and responsibilities and decision boundaries for the ongoing execution, tracking and adjustment of innovation projects whilst incorporating market feedback
An innovation strategy and/or execution gone wrong can also cause hurt across the business:
Lack of differentiation with competitors can damage brand image, offering, value proposition and premium pricing, causing a decreasing in profitability
Slow time to market can generate delayed launches, lack of impact and wrong seasonality
Collapsing categories and offerings can be caused by inactivity and lack of disruption
unsatisfactory new sales ratio can be due to disconnection with sales teams, channels, clients and consumers.
Oscillating employee moral and low talent retention can be caused by inability to truly innovate vs competition and startups
Our approach supports organizations by following a simple and structured approach that provides:
Get an in-depth diagnosis of your current innovations and processes.
Definition of the strategic purpose of innovation and how it translates into guidance for creating an innovation model
In the context of mergers: assessing the business value of synergies and anti-synergies.
Perceptions of a best-in-class innovation organization aligned with the archetypes you need (benchmarks)
Build an innovation model with measurable goals, end-to-end processes - finally, clear roles and responsibilities , robust data and clear control to determine the impact and status of continuous improvement.
We are also committed to helping you create new resources:
We will join, support and challenge your team on a non-technical basis. their mind
On the technical side, the model is in the middle, goals and thinking of the time, impact and results will make a difference, we will create and implement customer and customer focused content. of the actual value below.
Implementing a functional innovation model within the organization brings forth numerous advantages and unlocks a range of benefits.
Well-connected launches that address consumer needs, differentiate from competition, and occur at optimal timing.
Increased profitability driven by right pricing, a financial gate-oriented approach, and smart portfolio management.
Enhanced ability to react swiftly to trends and market movements, empowering teams to prototype, learn, and roll out products, services, and features.
Reduced time to market by streamlining innovation project planning and execution, enabling rapid responses to market demands.
Decreased waiting time for approvals through a clear and efficient approval process that captures essential feedback without sacrificing speed.
Improved visibility and analytics by capturing execution information and results in a structured manner, facilitating prompt identification and action on issues and opportunities.
Heightened clarity of roles and responsibilities, minimizing misunderstandings among different business areas and optimizing resource allocation.
More effective leveraging of knowledge by centralizing information within a model designed to inform future decisions.
Each organization has its own unique context, objectives and needs when it comes to innovation. We combine your knowledge of your business with Integration’s expertise on innovation to diagnose, design and implement an innovation model that is right for you.
Structured into four main steps, our methodology guarantees a comprehensive perspective on key issues and offers effective strategies to address them.
What is my positioning about innovation? How innovation can aggregate value? How ready am I to innovate?
Innovation Diagnosis: understand the initiatives in the company focused on innovation
Understand the purpose of innovating (i.g. portfolio, business model, automation, etc)
Define the target innovation positioning (vanguard or catch up) and investment thesis
Benchmark: what exists in the segment in terms of innovation
What are the possible innovation models? What are the benefits and disadvantages of the models? What is my gap in each model?
Menu of possible innovation models, with analysis of pros and cons, risks, innovation readiness, ‘Make or Buy’ analysis (example of models: venture capital, partnerships, M&A, accelerator, co-working, internal innovation area, startup foundation, etc)
Definition of the model and innovation opportunities considering the gaps of the company and competencies to be developed
How can I organize internally to enable the chosen model? What is the required investment?
How will be the transition to the defined model? Which work fronts and governance should be put in place to implement?
Implementation Plan
Definition of the governance, work streams, project leaders and squads
Ecosystem scan and assessment for the chosen model
For example, a tailored approach is used during the initial 2 stages of the methodology. In order to diagnose and design the innovation model, the following frame is commonly used to set a guideline for these discussions.
CHALLENGE
The global food and beverage company has noticed that with each new project completed in its Central American operations, there are mixed expectations, negative views of success, and friction between the groups. This leads to disappointment with results (new products launched from many underperforming internal efforts).
APPROACH
Integration kicks off the project using the framework shown above to get an idea of the company’s real innovation. This helps us understand the context and prioritize differences supported by external benchmarks. In the next stage, the “battle room” was created to discuss and create new models that cover all important tasks. Finally, using an iterative approach, the model is tested and refined in the management industry before it goes out into the field.
RESULT
The project had many positive and lasting results:
Clarifying roles and responsibilities
Establishing an ongoing management model that allows qualified managers to provide timely strategies, avoiding delays and unnecessary investments
Creating end-to end integrated controls to identify and address potential conflicts is the same for all professionals terminate across the region with the goal of providing incentives.
CHALLENGE
One of the largest party supplies stores in Brazil, operating in-store and online, is seeking support in creating new channels for its new products.
One reason is that business grows organically and existing new projects must be completed in an open and efficient process; but also because their work is highly complex, as many promotions are seasonally driven (like Christmas party, Halloween party) and need communication with side events outside of that.
Disney movie released for children’s parties).
APPROACH
One of the largest party supplies stores in Brazil, operating in-store and online, is seeking support in creating new channels for its new products.
One reason is that business grows organically and existing new projects must be completed in an open and efficient process; but also because their work is highly complex, as many promotions are seasonally driven (like Christmas party, Halloween party) and need communication with side events outside of that.
Disney movie released for children’s parties).
RESULT
CHALLENGE
Our client, a leading manufacturer and marketer of diagnostic devices, was acquired in 2018 by a private equity firm. As part of an aggressive growth strategy, the company entered into a JV with a leading manufacturer in a new subcategory.
Within the agreement, the organization was responsible for A) the development of the digital ecosystem to support patients, HCPs and caregivers, and B) the marketing and commercialization of this product globally.
Integration was asked to support in the planning and execution of the development and launch program for primary target markets (USA and Germany).
APPROACH
Integration provided immediate and effective PMO support to manage the commercial launch of this new product:
1. Developing a detailed plan with all activities that needed to be carried out for the product development, regulatory submission and commercial launch in the USA – built together with workstream leaders through individual and cross-functional planning workshops.
2. Establishing and managing a governance model to bring a more effective cadence and rhythm to the project’s execution.
3. Detailing a budget plan for the commercial launch.
4. Planning Germany launch strategy for a direct to patient model, working with local experts.
RESULT
In recent years, our approach to innovation in organizations has been strengthened by our understanding of new models and the resources they require. We are proud to support customers in multiple industries (services, food and beverage, healthcare, personal care, etc.) and regions (America, Europe and Asia).
Dhruv Patel is an engagement manager at BMCS and has been working since 2019 in the Argentinean office in the Supply Chain Practice.
Aarush Gandhi is a Manager at BMCS with significant experience in Supply Chain and Implementation having worked across both of BMCS practices.
Nikhil Singh is a Director at BMCS and has been working since July 2011 in the practice of Marketing & Sales. Prior to BMCS, Jonathan was an Analyst
Keshav is a Manager in the Marketing & Sales practice. Originally from Columbia, Luis is an entrepreneur at heart, and has worked in several start-ups in Colombia, receiving his MBA
Chaitanya Varma is a Financial Controller at BMCS and has been part of the Finance area since January 2011. Her experience includes financial analysis.
Rishi Sinha is a Specialist on Supply Chain Strategy at BMCS, working since 2010 at the firm. He has over 20 years of experience in Supply Chain collaborating with companies
Knish is a Managing Partner and has overseen the Mexico City office since 2008. Prior to BMCS, Gerard accumulated 25 years of experience in executive positions at L’Oréal
Rajbir is a senior manager I within the Implementation practice at BMCS, and has been part of the team since July 2011. His experience includes leading transformational projects.
