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#8: How to innovate in a non-core business area

In my State-of-Innovation podcast #8 with Katharina Lowinski, founder of ryvr.me and former innovation manager with Volkswagen AG we talk about: "How to innovate in a non-core business area – lessons from an innovator in the automotive industry"

In this episode Katharina shares her experience with building up a digital platform out of the core business of a leading automotive company. Short spoiler: when you burn for an idea, make sure to make the management excited about it, as you need them to sponsor your idea. Pick one person that likes your product and can help you raise your voice. It's also important that such a promotor can make sure you have access to resources and experts in the organization. Support is needed if you want to create something new.

 

What to expect from that Episode:

- What is the rational to innovate in a non-core business?

- Why it is important for a car manufacturer to think about mobility as a whole!

- How to keep the fire burning even in bad weather!

 

A very important question that we are discussing is "what exactly is the core business?", as that is the ultimate question to gain understanding on what a "non-core business" would be. Is a navigation service core or non-core for a car manufacturer? What about helping people arriving on time at a meeting in urban areas? What about helping people to organize a weekend trip with friends? There are many "jobs-to-be-done" where a car may play an important role. 

 

In a nutshell: Innovating in a non-core business is first of all a question of how you define it, and then a question of how to create a mindset towards helping customers get their jobs done better;) 


#AutomotiveIndustry #None-coreBusiness #DigitalPlatform

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Katharina Lowinski

Martin Pattera

#7: Customer centricity is a team game!

This is the second podcast of our series with Palfinger featuring Gudula Feichtinger, following our successful first episode with Philipp Eisele.

In my State-of-Innovation podcast #7 with Gudula, head of center of excellence customer & market insights, who was also a co-founder of the first internet service provider startup in Austria, back in 1993, we talked about: "Customer centricity is a team game! – How to align a large organization on customer centric value creation"

In this Episode Gudula explains why "you cannot have a billion dollar idea in a million dollar market", and why it is not sufficient to only look at unmet needs, but to consider value creation potential in a global market.

The topic of the meeting was the significance of customer insight as a strategic group effort and the importance of customizing products to meet customer needs.

What to expect from that Episode:
- How to overcome the risk of overengineering when you are already technically excellent
- How to discover opportunities for value creation in a global market
- How to ensure customer opportunities are being translated into business opportunities in a global organization with many different product lines


#Palfinger #CustomerCentricity #MachineryEngineering

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Gudula Feichtinger

Martin Pattera

#6: Innovation im traditionellen Maschinenbau

In der 6. Folge mit Philipp Eisele, Head of Product Management Integrated Solutions Loader Cranes bei Palfinger Cranes spreche ich über: "Innovation im traditionellen Maschinenbau – wie man erkennt was Kunden wirklich wollen!" 

 

Das Produktmanagement hat eine Brückenfunktion in mehrfacher Hinsicht. Einerseits wird dort die Unternehmensstrategie in Produktstrategien übersetzt. Andererseits werden Potenziale für Wertschaffung auf Kundenseite erkannt und durch die Weiterentwicklung des Leistungsangebotes umgesetzt. Im Ergebnis muss der Kunde Mehrwert erkennen, für den er/sie auch bereit ist zu bezahlen. Zudem soll der Mehrwert einzigartig sein und Palfinger von Marktbegleitern differenzieren. Und am Ende müssen wirtschaftliche Zielsetzungen erfüllt werden. Keine ganz leichte Aufgabe! Manche sagen, das macht das Produktmanagement ja auch so spannend;) 

 

Darum geht’s in dieser Episode: 

- Was sind die drei Kernfaktoren, an denen ein Kunde Mehrwert misst (es ist nicht der Preis!) 

- Warum es wichtig ist, in Kundengesprächen nicht an das eigene Produkt zu denken  

- Wie man erkennt was Kunden wirklich wollen, und damit kurzfristig Mehrverkäufe generiert 

- Wie man das Potenzial für einen neuen Produkt- oder Geschäftsbereich rechtzeitig erkennt 

 

Diese Episode baut auch auf den Aussagen von Stephan Ackermann auf (#2 neue Wege aus dem Innovators Dilemma), der näher darauf eingeht, was zu tun ist, wenn ein Wachstumspotenzial gefunden wird, welches ein komplettes Umdenken der Organisation erfordert. 

 

Aus meiner Erfahrung ist es sinnvoll, nicht nur zu verstehen, was Kunden wollen, sondern auch festzustellen, welche der vielen Needs, denn tatsächlich für die Mehrheit der Kunden relevant und nicht gut erfüllt sind, als Grundlage für strategische Entscheidungen im Produktmanagement. 


#Palfinger #Maschinenbau #Innovation

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Philipp Eisele

Martin Pattera

#5: Data Driven or

Human Centric?

In my 5th podcast I talk with Frances Mitchell, director of innovation at Teleflex with a background in medical technology, product design and some practice in the music industry about:

"Data driven or human centric – how to innovate?"

We talk about the difference in how start-ups (fast pace, risk taking) and how corporates (committed to impactful results) innovate in MedTech, and how to combine both in a smart way?

 

A quote of Frances that I want to share upfront is this one: "The human body and fundamental clinical problems don’t change a lot over time and are stable in our equation. But how to address good solutions for them is what we can affect."

 

What to expect from that Episode:

- How to build a pipeline for new product development

- How to know that you know enough to take a decision on an innovation initiative

- How to get a bigger picture when looking at platform solutions across different business units

 

A data-centric innovation approach focuses on using data and analytics to drive decision-making and develop new products or services. This approach relies heavily on collecting and analyzing quantitative data to identify priorities, patterns, and insights that can lead to innovative solutions. An innovation strategy shall always rely on facts and data to validate focus, and to reduce risk of failure. 

(ref. podcast episode #3 with Marco De Polo of Roche). 

 

On the other hand, a human-centric innovation approach is focused on understanding the needs, behaviors, and preferences of users or customers. This approach involves conducting research, engaging with users, to create products or services that are tailored to meet specific needs and desires of individuals. An innovator may want to understand all needs of a specific target group, to be sure not to miss a potential opportunity for value creation. 

 

In summary, the main difference between a data-centric and human-centric innovation approach is the primary focus of the approach - data-driven insights versus user-centered design. Both approaches have their strengths and weaknesses, and the most successful innovation strategies often incorporate elements of both approaches. According to Frances it is important to try to really understand what people needs are AND then quantify/validate them. (ref. the Outcome-Driven Innovation framework of Tony Ulwick and podcast episode #2 with Stephan Ackermann of Pöttinger


#Teleflex #Medtech #Datadriven

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Frances Mitchell

Martin Pattera

#4: Der Venture Client Ansatz in der Praxis

In der 4. Folge des Podcasts mit Christoph Sommer, Venture Lead NEW SPARK bei NEW AG und erfahrener Innovator in der (Energie-) Versorgung, geht es um das Thema:

"Der Venture Client Ansatz in der Praxis – wie finde ich das richtige Problem?"

 

Durch den Venture Client Ansatz kann die NEW AG schneller auf die Bedürfnisse seiner Kunden eingehen und innovative Produkte und Dienstleistungen entwickeln. Durch die Zusammenarbeit mit Start-ups profitiert das Unternehmen von deren kreativen Ideen und frischen Ansätzen.

 

Drei Fragen werden beantwortet:

- Wie kann ein Unternehmen die passenden Startups identifizieren und auswählen, um mit ihnen zusammenzuarbeiten?

- Wie kann eine erfolgreiche Zusammenarbeit zwischen dem etablierten Unternehmen und dem Startup gewährleistet werden?

- Welche Risiken und Herausforderungen sind mit dem Venture Client Ansatz verbunden und wie können sie am besten bewältigt werden?


#NEW AG #Energieversorgung #VentureClient

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Christoph Sommer

Martin Pattera

#3: How Decision Making breaks Innovation

In this episode, I cover "How decision-making breaks innovation - and what you can do about it!"

I had the pleasure of speaking with Marco De Polo, an innovation strategist in healthcare whom I had the pleasure to working with for many years. He has spent his career with Roche, and a number of startups in a very global setting.

Here are some key takeaways from the episode:

- Why a company that worked for 7 years on a new technology and invested more than 14 mio. USD, pulled the plug on further investments.

- What the single question would have been in the beginning to avoid that innovation failure.

- How to make your innovation strategy investment ready

 

Strategy can be summarized in questions like where to play, how to play and how to win. It is important to understand already in the beginning what the business metrics are that must be achieved with a strategy. Marco summarizes his approach on how to identify customer opportunities and how to translate those into business value. 
Some ingredients are highlighted as well: Creativity, Rigour and Discipline and why these don’t pair together very well.


#Roche #MedicalDevices #Healthcare

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Marco De Polo

Martin Pattera

#2: Neue Wege aus dem Innovators Dilemma

Diesmal mit Stephan Ackermann, Director Productmanagement bei Pöttinger Landtechnik und erfahrener Innovator in der Landmaschinentechnik zum Thema:

"Neue Wege aus dem Innovators Dilemma: Wie uns Kunden zu neuen blauen Ozeanen führen"

Drei Fragen werden beantwortet:

- Wie können Kunden helfen, neue Wachstumspotenziale zu finden?

- Warum sollten Needs immer unabhängig von der Lösung beschrieben sein?

- Was tun, wenn ein Wachstumspotenzial gefunden wird, welches ein komplettes Umdenken der Organisation erfordert?

#Businessmodelinnovation #Machinery #Pöttinger #Landtechnik

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Stephan Ackermann

Martin Pattera

#1: Mastering AI for Innovation and Research

In this episode, I cover "Mastering Artificial Intelligence for innovation research - viewpoints on benefits & risks".

I had the pleasure of speaking with Jan Tatousek, an experienced innovator who has spent his career with Xerox, Apple and Philips on customerentricity and innovation.
Together, we explore how to derive value from the AI "magic" and
exchange viewpoints on AI for innovation research in just 30 minutes.

Here are some key takeaways from the episode:
- A faster and less labor-intensive exploration of unmet needs
- How to establish vigilance against irresponsible AI use
- How AI may serve as a tool for forming innovation partnerships
and ecosystems

I can't wait for you to listen and be inspired!

#AI #Philips #Ecosystems

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Jan Tatousek

Martin Pattera

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