By balmahale | June 2, 2011
My takeaway from the New IT Innovation Models Panel
By Bal Mahale*, Panel Captain
MIT has always been associated with innovation and hence this panel had a special place in the Symposium. We put together a panel of experts from diverse backgrounds to get the full perspective. It included, Roy Rosin, Chief Innovation Officer at Intuit, Prof. Cusumano from MIT, who recently published a new book on strategy and innovation, Staying in Power, Alan Trefler, Founder & CEO of Pegasystems, maker of BPM software that helps companies innovate and Arthur Filip, VP & GM of technology consulting at HP, who helps customers innovate. The moderator for the panel was Roger Roberts, a partner at McKinsey for IT Strategy service helping clients conceive and apply technology solutions to enhance innovation and productivity.
The discussion in the panel was structured around few open ended questions around innovation. Here is the summary of the insights that the panelists shared during the discussions.
What is innovation? What does it mean to you in your context? How do you know it when you see it?
Innovation is the marriage between invention and pragmatism propelled by the ability to iterate and continuous improvement. In the IT context it means the business people come up with an idea, work with IT to implement it and deploy it at a massive scale and continually refine it working with customers. You don’t get innovation if the mechanics, the pragmatism and the ability to change is not intrinsic part of your strategy.
Innovation simply is the creation and capture of value from new ideas. Innovation is about how quickly can people test and validate the new ideas. As a Chief Innovation officer, the gift I got from Intuit was the time to sit back and study till I can see some patterns emerge. Innovation is not about making few big bets but lot of small bets and analyzing how those bets turn out to be.
What leads to great outcomes? Can conditions be created – or is some extra catalyst needed – a blinding insight, a special person, a disruptive technology? Does methodology matter?
Most of the Agile people are quite rigid and religious about the methodology and not about results. Majority of the organizations were using some form of agile on their projects. World has been moving towards a more flexible approach, where the teams are moving fast, which is very good for innovation because it allows for lot of experiments and trial and error. Designing experiments and analyzing data from experiments is important but the key is monetizing these experiments after the analysis.
What is the role of platforms in enabling innovation? What are the necessary characteristics? Can “bad platforms” constrain innovation?
Platform is a set of common components that solves a particular problem in ways that brings multiple parties together and covers various aspects of people, process and technology. Historically people thought of platform as a way of building of siloed apps. Innovative companies come up with conceptual platforms such as customer platforms and organize the entire company around platforms. This leads to creating its own ecosystem around platforms.
The debate on open vs proprietary platforms is not quite black and white. There are platforms that are open but not quite open like Microsoft and closed but not completely closed like Apple. Google is almost completely open and Linux is completely open. So there is a spectrum of openness in the platforms and companies have been successful in innovating under both the models. Irrespective of the openness, platforms play a key role in innovations.
Should we have “chief innovation officers?” How should they be measured? What metrics (if any) make sense in measuring innovation in an organization?
It is important to make sure innovation happens and that’s not just platform and technology innovation. It helps to have someone responsible for it. Innovation is everyone’s job but it is the innovation officer’s job to ensure that the company is good at what it takes to succeed from a holistic standpoint. This means understanding things like:
- What are the skills you need that are different
- How are you immersing your workforce in the realities of the customer’s world
- How are you responding to innovation across the portfolio with speed?
- Do you have the right dashboards for the executives to review?
- How do you celebrate your wins? (small)
- What cultural changes do the leaders need to drive?
- How can people work well in a matrix environment?
- How can you get teams through the internal governance and process fast?
Innovation officer makes sure the new ideas see the light of the day. Here are the key attributes/characteristics for a chief innovation officer role:
– Understand the future of technology
– Have skills and experience with innovation
– Can create the culture, environment and support for innovation
– Understand the business
There are three different levels of metrics to measure innovation. First is the participation metric – the ideas generated, second is the conversion metric – how many ideas get implemented along with the speed of conversion and the last one is a shareholder metric – impact of the ideas on company’s performance. The three levels represent evolution as the innovation progresses. Some companies measure the innovation by measuring the revenues coming from not so mature businesses and mature businesses separately.
How do you build the infrastructure for innovation? What enablers can a technology leader put in place to encourage innovation?
Sometimes there can be so much churn in the platform that it is hard to innovate. You need certain stability and that can lead to more innovation. The platform has to evolve but the speed of evolution needs to be manageable.
At the end of the day, the innovation has to make money for the company. Hence in addition to Invention, Innovation companies need to focus on Exploitation. You want to invent periodically but then focus on taking that invention to the market through exploitation. Executing to action is critical part of the innovation.
Technology leaders need to ensure that governance is there both bottoms up and top down. Need to give teams enough time/resources to germinate the ideas but also set goals for a measurable output.
What is the role of the CIO in catalyzing innovation? How should an IT leader spend his/her time to make an impact on this front?
It is possible to bake innovation in the culture of the company. CIOs need to take leadership actions that create conditions for innovation. One of the innovative companies, took a group of IT and business people, co-located them and had them adopt Agile scrum to facilitate innovation. Innovation has become key part of CIO’s responsibility.
*Bal Mahale is a Senior Director at CA and was the panel captain of this panel at the 8th MIT Sloan CIO Symposium.
By TiE-Boston | May 26, 2011
These are some of the questions that top industry leaders will discuss at TiECON East 2011, the 13th annual flagship conference on entrepreneurship organized by TiE-Boston.
Join us on us June 2-3, 2011 at the Westin Hotel in Waltham MA to Innovate Now! Take advantage of our special offer. Register Now! Use promo code TiE-AP. Visit: www.tieconeast.org
It gives us great pleasure to announce that industry pioneers from a myriad of local and Indian companies will be speaking at TiECON East 2011 as part of the keynote series.
IPO guru, Andy Ory from Acme Packet will share his thoughts on building a billion dollar enterprise in turbulent times. Hear from an accomplished entrepreneur & CEO, Tim Healy about white spaces in clean technology and starting your own company. Discover fresh strategies and take away key lessons on ‘Innovation’ from a multi-faceted serial entrepreneur and mentor par-excellence, Edward B. Roberts from MIT. The master of ‘Business Model Innovation, Scott Sperling from Thomas H. Lee Partners will share real world stories on Re-engineering Business Models.
With panels across three tracks—Technology, Life Sciences and Clean Tech – TiECON East promises to deliver valuable insights on how entrepreneurs are innovating across disciplines and geographies, and doing it now.
Three exciting panels on the Technology Track will explore how mobile commerce industry is enhancing shopping experience, hottest trends within the enterprise and next generation social media platforms.
Social Media: Future, opportunities and beyond
Social media platforms have become a cost-effective way to transform businesses into a success. Come hear industry experts discuss how this next generation media platform can be consumed for existing businesses or used as a platform to create innovative technological applications and content. Moderated by Lisa DeSisto from Boston Globe, panel speakers include Ellie Mirman from HubSpot, Josh Bernoff from Forrester Research, Laura Fitton from oneforty inc and Joslin Mane from 451 Marketing.
Mobile Money – Mobile Phones as the Consumer Wallet
With the global proliferation of mobile devices, subscribers are becoming more comfortable using their handsets for purchasing while service providers are launching more sophisticated services. Industry experts like Andrew Paradise from AisleBuyer Aaron McPherson from IDC Financial Insights, Damien Balsan from Nokia, Carol Realini from Obopay Inc. and Doug Banks from Mass High Tech will explore opportunity for entrepreneurs in the mobile commerce space.
The Enterprise Strikes Back- Buying is Up, Where are the Opportunities?
The adoption of technologies such as virtualization, SaaS and business analytics within the enterprise has become essential for productivity improvement and effective cost-saving. This panel will present insights on this changing landscape within the enterprise, discuss key trends, and present opportunities that entrepreneurs can pursue in this space. Moderated by Nitzan Shaer from High Start Group, panel speakers include John McEleney from CloudSwitch, Dr. John Bates from Progress Software, Neeraj Agarwal from Battery Ventures and Andrew Borg from Aberdeen.
For more information and to register, please visit: www.tieconeast.org. Learn, share ideas and connect with industry pioneers at this top notch entrepreneur’s conference in Boston!
By Graham_Rong | May 12, 2011
How will the CIO Role Evolve in the Digital Business World
– An overview of the 8th MIT Sloan CIO Symposium
No longer a crossroads decision, the landscape of the digital world is rapidly changing, compelling enterprise leaders to stay abreast of and transform if they want to maintain a competitive advantage and sustain growth. These paradigm shifts challenge executive leadership. Impacted the most are CIOs:
- What is expected of CIOs in leading the digital business revolution?
- How can CIOs be a change agent to pioneer innovation and enable high performing organizations?
- Conversely, how can organizations support and facilitate strategic thinking CIOs in maximizing business performance and opportunities?
With challenge comes the possibility of business expansion and profitability. From clouds to social networks; from mobility to security, the benefits of digital media can result in a layer of complexity and complication for an organization and its managers. This is where CIO leadership can demystify technology based business solutions, allowing them to become fundamental parts of a company’s operation and strategic approach. Information Technology (IT), rather than simply information technology, becomes smart information AND technology. That is, IT becomes the integration and optimization of collective intelligence—internal and external—via the utilization of varying innovative platforms.
Optimization through innovation accelerates with an organizational business culture promoting and committed to a solid IT foundation and infrastructure. Thus the mental model transforms, recognizing IT as the essential highway and bridge connecting critical business functions, whether back-end or front-end. Within this model, the CIO functions as an intrinsic partner in the management team; IT is understood as a vital component in creating value, strategic positioning and profitability.
So as CIOs, we need to be proactive and forward thinking. We now must be equipped with skills and knowledge beyond the complexities of technical matters. An understanding of the relationship between information technology and the business value chain is paramount. IT can no longer be seen as just instrumental for an efficient organizational infrastructure, but rather it is a necessary element for the bottom-line. As change no longer qualifies as a crossroads decision, CIOs find themselves increasingly proactive and forward thinking. To maintain a competitive advantage, Enterprises must keep abreast and transform. The paradigm shifts challenging CIOs likewise offer innovative possibilities for growth, be it for the company or the individual.
It is this advent of possibilities which bring us to this year’s theme: “Beyond the Crossroads – How will the CIO role evolve in the digital business world”?
On May 18th more than 800 CIOs, CEOs, CTOs, and senior executives from around the world will gather to explore how to profitably leverage digital media at the 8th Annual MIT Sloan CIO Symposium. The Symposium will take place from 7:30 a.m. – 8:00 p.m. at the MIT Kresge Auditorium in Cambridge, MA. The full agenda is available at www.mitcio.com/agenda.php
Symposium attendees will interact with internationally recognized thought leaders as well as peers who are experts in the IT field. They include: MIT, Akamai, McKinsey & Company, Global Crossing, Salesforce.com, Hewlett-Packard, EMC, Iron Mountain, VMWare, Thermo Fisher Scientific, Charles Schwab, SAS, Intuit, Accenture and State Street, among others. Participants will gain powerful tools and strategies that will enable them to achieve value, strategic positioning, and profitability for their enterprises. This knowledge will ensure their companies maintain a competitive advantage and sustain growth in tomorrow’s digital business world.
Valuable keynote panel discussion topics include:
- View from the Top: Opportunities and Strategies in the Digital Business World – CIOs will learn to anticipate and adapt proactively to market changes by looking beyond competitors and shifts in the economic landscape, changes in the workforce and customer profiles, and the evolution of business and social environments.
- MIT’s Perspective: What Every CIO Should Know About the Future Impact of Digital Business – The growth of data, the increasingly digital nature of business, and the dichotomy of enabling without controlling the viral nature of social networks makes the job of the CIO extremely complicated. Panelists will comment on the biggest changes yet to come, how CIOs can prepare for a more mature digital business world.
- The Evolving CIO Role in Cloud and Mobile Computing Environment – CIOs will learn how to leverage the spectrum of Cloud Computing as a platform: from tactical low hanging fruit scenarios to game-changing transformation.
- Cloud Computing Spectrum: From Low Hanging Fruit to Game-changing Transformation – Cloud computing is an evolving concept with many different implementations CIOs will learn about various cloud computing solutions and how to prepare for the cloud age.
In addition, forward looking panels addressing new trends and issues include: Workforce 2015—Building the Organization of the Future; New Trends in Cyber Security and Privacy Protection; and Healthcare CIO Beyond The Crossroads: Healthcare Reforms-Economy-Patient Care.
Strategy oriented panels include: Mobility as the Next CIO Innovation Opportunity; New IT Innovation Models; Collective Intelligence and Social Networks; Enterprise Analytics lead to Business Values, and Managing the Extended Enterprise.
The winner of The 2011 MIT Sloan CIO Symposium Innovation Leadership Award will be announced. And finally, you will be able to enjoy a cocktail reception and networking during the annual Innovation Showcase. The Innovation Showcase highlights ten outstanding early-stage companies that provide cutting-edge technology and offer new levels of value and advancement to Enterprise IT.
Since 2004, the MIT Sloan CIO Symposium has become a landmark event and the premier International CIO Conference. This year’s confernce builds upon past success whilst infusing the program with new direction in celebration of MIT’s 150th Anniversary. In recognition the sesquicentennial, for the first time in our history, we have partnered with the MIT Industrial Liaison Program.
As the chair of the symposium, I invite you to this eminent and global CIO conference and also a landmark event on MIT campus, where tomorrow is invented today.
About the MIT Sloan CIO Symposium
The MIT Sloan CIO Symposium is the premier global event for CIOs and senior IT executives to become better business leaders. In one day, CIOs and senior IT executives receive actionable information that enables them to meet the challenges of today’s changing global economy. The annual event offers a day of interactive learning and thought-provoking discourse on the future of technology, best practices, and business that is not available anywhere else. The MIT Sloan CIO Symposium is organized and developed by a team from the MIT Sloan Alumni Club of Boston, the MIT Center for Digital Business and the Boston Chapter of the Society for Information Management. Visit www.mitcio.com for more information and registration.
To stay connected to the community developing around the Symposium, please join The Global CIO & Executive IT Group (An MIT Sloan CIO Group), which can be found on Linkedin.com: http://www.linkedin.com/groupInvitation?groupID=1719457. Follow Symposium updates on Twitter: http://twitter.com/mitciosymposium
By qipei | May 10, 2011
Reflecting the primary theme of “Beyond the Crossroads – What will be the evolving CIO role in the digital business world”, the 2011 MIT Sloan CIO Symposium will present a timely keynote panel discussion to highlight how CIOs can leverage the spectrum of Cloud Computing as a platform.
This panel will explore Cloud Computing as a platform from the demand-side: how several major market sectors leverage the “Cloud”. Panelists will include Cloud Computing visionaries and thought-leaders representing a cross-section of these primary sectors to share their insights on how Cloud Computing as a platform can effectively catalyze experimentation and innovation to gain competitive (and perhaps even game-changing) edge in their industries.
Moderator:
David Kingston, Managing Director of Corporate Executive Board’s Information Technology Practice
Panelists:
Mark Egan, CIO, VMware
Anthony Christie, CIO & CTO, Global Crossing
Sanjay Mirchandani, CIO & COO, Global Center of Excellence, EMC Corporation
Tasos Tsolakis, EVP and CIO, Iron Mountain
By Graham_Rong | May 8, 2011
The 8th MIT Sloan CIO Symposium attendees are entitled to a 44% discount on a subscription to MIT Sloan Management Review, including a free enewsletter on using analytics and big data for competitive advantage.
Click to subscribe here.
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