Entrepreneurship Some Frameworks for Setting Innovation Strategy Geoffrey

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Entrepreneurship Some Frameworks for Setting Innovation Strategy Geoffrey Moore Managing Director

Agenda • • Some thoughts about Entrepreneurship Overarching Model • Innovation Types and the Market Maturity Life Cycle • Examples of Innovation Types for • Growth Markets • Mature Markets • Declining Markets • 2 Discussion Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Thoughts about Entrepreneurship • Key Attributes of Entrepreneurs • • • Entrepreneurship and Other Institutions • • • 3 Drive to accumulate personal capital Desire for accountability and P&L responsibility Sees innovation in terms of competitive advantage Invests in self and career for long term Non-profits: social entrepreneurship, spiritual capital Corporations: entrepreneurs vs. line executives, staff analysts Incubators: disconnect with survival-of-the-fittest ethic Academic disciplines: no correlation, but not a fit for MBA Engineering: source of innovation and competitive advantage Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Overarching Model Market Maturity Life Cycle Revenue Growth Indefinitely elastic middle period Early Main Street B Mature Main Street D Declining Main Street A Technology Adoption Life Cycle 4 C Fault Line! E End of Life Time Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Broad Universe of Innovation Types Platform Innovation Process Innovation Integration Innovation Business Model Innovation Value Chain Innovation Structural Innovation Product Innovation Renewal Disruptive Innovation 5 Application Innovation Line Extension Innovation Marketing Innovation Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018 Experiential Innovation

Governing Model Technology Adoption Life Cycle Pragmatists: Stick with the herd! Conservatives: Hold on! Visionaries: Get ahead of the herd! Skeptics: No way! Techies: Try it! Innovators Early Majority Adopters Late Majority Laggards Pragmatists create the dynamics of high-tech market development 7 Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Innovating for Growth Markets Disruptive Innovation Application Innovation • Complex Systems: Agile PLM (distributed ECO management) • Volume Operations: Nokia SMS (text messaging on cell phones) Product Innovation • Complex Systems: EMC SANs (Storage Area Networks) • Volume Operations: Palm Pilot and Treo (PDAs done right) Platform Innovation 9 • Complex Systems: Oracle relational database (vs. hierarchical) • Volume Operations: e. Bay auctions (de novo – no precedent) • Complex Systems: Salesforce. com (Internet as a computing platform) • Volume Operations: Sony Playstation (entertainment computing) Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Innovating for Mature Markets Process Innovation Integration Innovation Line Extension Innovation 10 Business Model Innovation Marketing Innovation Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018 Experiential Innovation

Governing Model The Fractal Structure of Maturing Markets PDAs • Tornado Phase Smart Phones Mobile Task-specific Devices Laptop Cost PC Reduction • Roll out new infrastructure • Focus on standards • Early Main Street • Expand functionality • Focus on broad segments • Mature Main Street - 1 Server • Differentiate experiences • Focus on narrow segments • Mature Main Street - 2 Total Available Market 11 • Reduce cost & complexity • Focus on lower base price Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Fractal Marketing: The Nth Device The Example of Telephones VOIP Phone Fax Cell Phone Email Device PDA The “Aneurism” Effect 12 Security System Broadband Line Office Phone Speaker Phone Ring Tones Video Phone Bedroom Phone Kitchen Phone Cordless Phone Car Phone Emergency Phone Baby cam Intercom Wi. Fi Phone Game Phone Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Innovating for Mature Markets Line Extension Innovation Add value at the surface Marketing Innovation Experiential Innovation PC Process Innovation Integration Innovation Business Model Innovation 13 Reduce costs at the core Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Innovating for Mature Markets Line Extension Innovation • Complex Systems: Cognos Scorecards & Planning (added to BI base) • Volume Operations: HP inkjet printers (home, photo, portable, commercial) Marketing Innovation • Complex Systems: Cisco IBSG (free Internet strategy use consulting) • Volume Operations: Apple retail stores (“better together” value proposition) Experiential Innovation • Complex Systems: Mc. Kinsey Quarterly (thought leadership) • Volume Operations: AOL’s email (“You’ve got mail!”) Process Innovation • Complex Systems: Cambridge Technology Partners RAD methodology • Volume Operations: Amazon’s one-click sales process Integration Innovation • Complex Systems: SAP R 3 (ERP) • Volume Operations: Microsoft Office (productivity & collaboration suite) Business Model Innovation 14 • Complex Systems: Synopsys pricing (from license to lease) • Volume Operations: Netscape browser (the power of free) Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018

Innovating for Declining Markets Renewal Innovation • Complex Systems: IBM IGS (from product-led to services-led) • Volume Operations: Adobe Acrobat (from PC franchise to Internet) Value Chain Innovation • Complex Systems: Solectron outsourcing (contract manufacturing) • Volume Operations: Dell Direct (disintermediating retail) Structural Innovation 16 • Complex Systems: BEA acquiring Web. Logic (beyond Tuxedo legacy) • Volume Operations: Visio getting acquired by MSFT (out of market runway) Darwin and the Demon © 2004, TCG Advisors LLC 17 March 2018