IM Best Practice Writers Speaking at Conference on Risk Management for Successful Innovation

Working with risk management strategies for successful innovation and innovation portfolio management is imperative to remain competitive and significantly improve business performance. This will be the theme at the upcoming Innovation Risk Management conference 2011 in Barcelona by the end of January. Two of Innovation Management’s Best Practice writers will participate at the conference.

Dr. Magnus Karlsson, Director New Business Development & Innovation at Ericsson Head­quarters in Stockholm, Sweden will talk about how to implement and use collaborative idea management in a systematic way. In this way you can reduce the risk of choosing the “wrong” ideas to take forward. You will also increase your attractiveness as an employer by inviting your coworkers to participate in future development. Collaborative idea management is also way of using your already existing recourses in a more effective way.

Using the creativity of the crowds to drive innovation

When innovation is more important than ever, collaborative idea management can help organizations to surface new ideas, improve them and make sure they reach the right people. It is also a way to empower and recognize innovative employees, to measure and stimulate creative activity and to promote a more open and collaborative innovation culture in the organization.

Dr. Karlsson will generously share Best Practice from Ericsson, the global telecom company, and how they worked with introducing and designing a successful idea management system.

The presentation will address the challenges that are involved in the handling of ideas in organizations. Dr Karlsson will also share some design rules based on the initial experience at Ericsson and insights from other organizations that will help when considering getting serious about idea management.

Besides listening to Dr. Karlsson in person you are also very welcome to visit the IM store for more information on this topic and a free preview of the Applied Innovation Management™ article “Collaborative Idea Management – using the creativity of crowds to drive innovation” that explains how you can effectively use the creativity of your employees, customers and partners to drive innovation.

How to handle both incremental and radical innovation simultaneously in large organizations

Dr. Bengt Järrehult, Director Idea & Knowledge Management at SCA, a multinational hygiene, paper and packaging company, will give a presentation focusing how to be able to handle both incremental and radical innovation simultaneously in a large organization.

The theme for the presentation is to promote ambidextrous behavior within a larger organization. Ambidextrous originally meant the ability to use both hands equally well but in the context of an organizational management it means the ability to focus on and handle both incremental and radical innovation simultaneously. This is proven to be a rather tough task in praxis. Although the management in large companies logically can accept the need for a better balance between incremental vs. radical efforts, it seems that in practice the portfolio balance is more the result of short term ad-hoc measures, not optimally and consciously created to achieve a long term growth. Companies are hence subjected to what may be called “involuntary incrementality drift”.

Dr. Järrehult generously shares best practice from  his company and the presentation contains the way the hygiene businesses within SCA, has chosen in order to get an improved and more conscious balance between what now is called Cost save, Upgrade, Next Generation and Breakthrough innovation initiatives within the company.

This way first encompassed the creation of an innovation strategy, where the need for dual focus was emphasized. This lead to a complementary framework was created that better suited the more radical next generation and breakthrough aiming initiatives. This included the creation of another metaphor, the innovation reactor, for the exploratory work that supplemented the traditional innovation funnel, a metaphor used for exploiting, incremental projects in larger companies. It also contained he creation of a more open attitude to partners (a.k.a. Open innovation) and an increased focus on consumers and customers with a great emphasis on getting validated insights in the beginning of the initiatives, something valid both for the exploiting as the exploratory part. This changed the offers in the company from being idea based to become insight based.

How to avoid the “involuntary incrementality drift”

For those practitioners who want to avoid the “involuntary incrementality drift” of the project portfolio in the own company, this presentation may give some hints on what to take home by referring to how it was done in another company. Data are also given on the optimal balance of different types of innovation projects and how this is linked to the strategy of the entity in question, whether it aims to be a fast follower or a lead innovator.

You will learn how a large multinational company successfully is working with the complex process of changing a company to become even more innovative. Dr. Järrehult´s presentation will show how this involved dealing with culture and existing mindsets and metaphors as well as the creation of an innovation strategy and incubator units. The story told could be repeated, somewhat modified of course, in your company initiated and influenced by yourself. InnovationManagement will shortly release an Applied Innovation Management-article by Dr. Järrehult on the above topic. Stay tuned for more information.

About Magnus Karlsson

Magnus KarlssonMagnus Karlsson is Director New Business Development & Innovation at Ericsson Head­quarters in Stockholm, Sweden. He joined Ericsson in 1998 and has been working in the areas of external research relations, strategic foresight and innovation manage­ment. Recently, he was driving the Group-wide scenario planning project Commu­nicating Worlds 2020.

Between 2003 and 2006 he served as Science & Technology Counselor at the Embas­sy of Sweden in Washington D.C. responsible for policy and technology intelligence. In a previous foreign assignment, he worked at the Office of Science & Technology at the Embassy of Sweden in Tokyo, Japan.

He has two basic academic degrees in Applied Physics and International Relations as well as a Ph.D. degree in Technology and Social Change from Linköping University, Sweden.

About Bengt Järrehult

Bengt JärrehultBengt Järrehult, PhD and recently appointed as Fellow Scientist Innovation at SCA, is Director of Innovation and Knowledge Management at the SCA headquarters in Sweden. He is also a member of the Leadership team at Research & Innovation Support at SCA’s Global Hygiene Category where they just have compiled and launched the Innovation Strategy for SCA’s hygiene business.

Apart from his daily work at SCA, Dr Järrehult also holds two positions in Academia. Since 2007 he is adjunct professor in Innovative Packaging Logistics at the Ingvar Kamprad Design Center of the Lund Technical University teaching in Innovation Engineering and Packaging. He is also newly appointed as visiting professor in Innovation at the Institution of Economic Research at the Lund University. He is also a regular lecturer at Chalmers in Gothenburg for students in the masters program of Management and Economics of Innovation.

Innovation Risk Management conference 2011

The January 26-28 conference in Barcelona will be the only pan European cross industry event focusing on risk management strategies for successful innovation and innovation portfolio management. The event will address the best industry case studies and examples of successful risk mitigation and innovation portfolio management. It will discuss topics around building a successful portfolio, defining risk mitigation tools, developing winning strategies of the new market exploration, delivering the product in a timely manner and predicting and mitigating the risks that will stop a company from achieving this goal.