Energize your company with breakthrough ideasTM Seas the Day to Create a Culture of Innovation NAEP Florida 2018 Regional Meeting – October 25, 2018 Len Ferman [email protected] Adjunct Professor of Innovation at University of North Florida Managing Director, Ferman Innovation www.fermaninnovation.com Former Head of Ideation at Bank of America 904.553.0075 Energize your company with breakthrough ideasTM Seas the Day to Create a Culture of Innovation NAEP Florida 2018 Regional Meeting – October 25, 2018 Len Ferman [email protected] Adjunct Professor of Innovation at University of North Florida Managing Director, Ferman Innovation www.fermaninnovation.com Former Head of Ideation at Bank of America 904.553.0075 About the Speaker: LEN FERMAN Adjunct former Professor head of ideation Founder Faculty Member © Copyright 2018 Len Ferman College Text Book and Corporate Innovation Manual Published in 2018 by Cognella © Copyright 2018 Len Ferman About Len Ferman 25 years managing innovation at Fortune 500 companies AT&T Barnett Bank Bank of America Led small business Head of ideation for all Graduated from innovation – consumer & small Duke with MBA Developed smart Created concept for SB business products at in Marketing and card & ATM Online Community Bank of America MA in Economics Introduced first strategy for check image Barnett Bank ATM 1988 1995 1997 2004 2011 1990 1996 1998 - 2003 2013 Managed new product Moved to JAX Launched Visa Founded research for as part of the TravelMoney – Ferman Launched & Managed B2C and B2B founding team world’s first Innovation: Bank of America services of the AT&T international boutique Universal Card prepaid card Business Debit Card innovation agency © Copyright 2018 Len Ferman 7 time gold medalist and former record holder at the World Joggling Championships © Copyright 2018 Len Ferman Business Takeaways From This Session Learn the innovation process and how it applies to your job 7 © Copyright 2018 Len Ferman Business Takeaways From This Session Identify how Learn the you can do innovation things process and different, how it applies better and to your job innovative 8 © Copyright 2018 Len Ferman Business Takeaways From This Session Identify how Learn the you can do innovation things process and different, how it applies better and to your job innovative Create awesome experiences for your internal customers 9 © Copyright 2018 Len Ferman Additional BONUS Takeaways From This Session Improve eye hand coordination 10 © Copyright 2018 Len Ferman Additional BONUS Takeaways From This Session Improve eye hand coordination Learn to multitask 11 © Copyright 2018 Len Ferman Additional BONUS Takeaways From This Session Impress your kids! Improve eye hand coordination Learn to multitask 12 © Copyright 2018 Len Ferman Myths about Juggling #1 - You can’t learn how to juggle 13 © Copyright 2018 Len Ferman What is Innovation? An idea that is successfully launched as a… new product new service new program new process … in order to solve for external or INTERNAL customer needs © Copyright 2018 Len Ferman It’s Not Just About Apple’s Latest Product Launch Innovation applies to … it’s about everyone in the institution developing solutions because… to solve the problems of your external or INTERNAL customers © Copyright 2018 Len Ferman Why is Innovation Important? 21st century business dynamics require all organizations to innovate or perish ©2017 Len Ferman All Rights Reserved © copyright 2017 Len Ferman The Need for Innovation Has Amplified in the 21st Century Advances in technology are enabling new entrants and new business models faster than ever Panera 2.0 is being Airbnb is taking a chunk Amazon is disrupting rolled out nationwide out of the hotel industry traditional retail industries © Copyright 2018 Len Ferman Innovation in Higher Education – Active Learning Classrooms Active learning classrooms at Gothenberg University in Sweden have tables for group collaboration. The professor is typically stationed in the middle and will move between groups. © Copyright 2018 Len Ferman Innovation in Higher Education – Student Support Deakin University in Australia has implemented Deakin Genie - an Artificial Intelligence driven personal assistant for students. © Copyright 2018 Len Ferman Innovation in Higher Education – Online Learning Over 50% of American four- year colleges and universities offer one or more fully online degree programs. © Copyright 2018 Len Ferman Organizations That Avoid Innovating Risk Becoming Irrelevant Kodak had an 89% Blockbuster had Blackboard had share of the 9,000 retail stores at 70% market photographic film its peak in 2004, share of the market in 1976 now they are all university LMS gone market in 2006 © Copyright 2018 Len Ferman 4 Steps to Seas the Day to Create a Culture of Innovation in Your Procurement Department 1 2 3 4 EXPLORE IDEATE EVALUATE DESIGN 22 © Copyright 2018 Len Ferman 1st Step to Seas the Day to Create a Culture of Innovation in Your Procurement Department 1 EXPLORE 23 © Copyright 2018 Len Ferman Explore Phase Goal 1 Identify customer EXPLORE problems and opportunities 24 © Copyright 2018 Len Ferman Learning How to Juggle Explore Step 1: One Scarf Instructions • Hold the scarf in one corner between your thumb and index finger • Quickly raise your arm up as high as you can and release! • Let the scarf float down a little bit • Claw down over the top to catch • Try it again and again • Switch hands 25 © Copyright 2018 Len Ferman Learning How to Juggle Explore Step 2: Infinity Sign Instructions • Start with scarf in right hand • Toss scarf across to your left side • Claw down with left hand • Toss scarf across to your right side • Claw down with right hand • Repeat until you feel a smooth flow and can see the pattern 26 © Copyright 2018 Len Ferman Key Takeaways that Juggling 1 Scarf Teaches us Explore for Creating a Culture of Innovation Have a clear and focused objective 27 © Copyright 2018 Len Ferman Objective Setting “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth.” - President John F. Kennedy © Copyright 2018 Len Ferman Objective Setting “This is a black belt school. Your goal is to become a black belt.” - Master Johnson © Copyright 2018 Len Ferman Three rules for setting objectives Make goals Use Simple Seek to Inspire challenging yet Language achievable • Can be understood • Avoid bland • Stay just inside by a 5th grader corporate speak the realm of (“increase same store possible • Requires no sales 10%”) interpretation • Foster passion within the team (“make a visit to our stores fun and exciting”) © Copyright 2018 Len Ferman Key Takeaways that Juggling 1 Scarf Teaches us Explore for Creating a Culture of Innovation Learn to use the tools available to gather understand your customer’s needs 31 © Copyright 2018 Len Ferman Qualitative Customer Research Explore Who to talk to? • Senior administrators • Employees & students that are your internal customers Key Learnings Required SENIOR STAKEHOLDERS EMPLOYEES & STUDENTS • What are their business expectations? • What outcomes are they seeking? • In which areas do they want you to focus? • What are their biggest challenges? • WHY? • What barriers do they have to improving performance? • WHY? © Copyright 2018 Len Ferman Always ask “WHY?” Explore Be a “Why’s GuyTM” © Copyright 2018 Len Ferman Ethnographic Research Explore What is it? Observing employees in their natural environment When to do it? After qualitative research in order to uncover additional problems and challenges Key Learnings Required • How do employees presently go about • What are the problems, that solving problems? employees don’t overtly recognize or can’t articulate? © Copyright 2018 Len Ferman 34 Key Takeaways that Juggling 1 Scarf Teaches Explore us for Creating a Culture of Innovation Break down the employee journey into elementary steps and map the experience 35 © Copyright 2018 Len Ferman Identify the Steps Explore in the Customer Journey 1 2 3 4 5 Select Receive Eat Pizza Wait for Pizza Order Pizza Pizza and and Clean Delivery Provider Pay Up 36 © Copyright 2018 Len Ferman Identify Most Important Explore Attributes to Measure Journey Steps 1 2 3 4 5 Select Receive Eat Pizza Wait for Pizza Order Pizza Pizza and and Clean Journey Delivery AttributesProvider Pay Up Customer touchpoints Customer’s desired outcome Customer pain points 37 © Copyright 2018 Len Ferman Complete the Map Explore Based on Customer Research Journey Steps 1 2 3 4 5 Select Receive Eat Pizza Wait for Pizza Order Pizza Pizza and and Clean Journey Delivery AttributesProvider Pay Up Customer •Online/Mobile •Online/Mobile •Online/Mobile •Delivery person •Pizza • • • touchpoints Ads Phone Pizza box Customer’s •Easily find order •Order pizza •Delivery time •Pizza is warm •Pizza is delicious info quickly with no meets or exceeds •Payment is quick •Clean up is desired •Get a good deal errors in the expectations and easy simple outcome order Customer •Can’t find phone # •Website •Pizza is taking •Pizza order •Pizza does not •Website is confusing longer than wrong meet pain points confusing •Waiting on hold expected •Pizza is cold expectations 38 © Copyright 2018 Len Ferman •Box is greasy Key Takeaways that Juggling 1 Scarf Teaches Explore us for Creating a Culture of Innovation Identify Best Practices 39 © Copyright 2018 Len Ferman Identify Best Practices Ask Others How They Do It Continuously seek input from others in your field and in related fields for what