Change Management: How to achieve innovative products reliably

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Aubrey Montgomery
10 years ago
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1 Change Management: How to achieve innovative products reliably Seite 1

2 What are Innovations? Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself." Source: Wikipedia Seite 2

technologies, or ideas that are accepted by markets, governments, and society.

3 Publishers are innovative! Every publisher is innovative, because as a publisher you have to produce permanently new products or new content, e.g. for magazines (and other periodicals), newsfeeds, databases Seite 3

4 So: Where is the Problem? What do you think: Are most of the publishers innovative enough? And if not: What are the reasons? Seite 4

5 The critical fields Culture People Organisation / Workflow Business Models / Products Controlling Seite 5

6 Culture / Workflow Does a corporate culture exist, that invites and encourages innovators? Does a workflow exist, in which innovations are managed, a kind of staff suggestion management? Does an incentive scheme for the staff exist? Innovations need a project culture, because most of them only can be developed in interdivisional cooperation. What kind of project culture does exist? Seite 6

Does an incentive scheme for the staff exist?

7 People Are there innovative people in any department? What role and position do these innovative people have? What is the opinion of the management about innovations? Is there enough know how about innovative technologies, business models and concept in any department? Seite 7

What is the opinion of the management about innovations?

8 Organisation How do you organize innovation? Some innovative publishers have established a business development department. This may be a good first step, but there are many questions: What are the responsibilities of this department concerning the business model definition, the resources, the budget, the involved departments? Vice versa: What are the responsibilities of the product management concerning innovation? Seite 8

This may be a good first step, but there are many questions: What are the responsibilities of this

9 Product Management Is there a distinction between product development product management editorial work / copy editing Or to put it another way round: Is there enough range for innovative product managers to develop new products, concepts and business models? Who does new developments, new competitors, business models, technologies etc. screen Seite 9

innovative product managers to develop new products, concepts and business models?

10 Business Models / Products Is there a tendency to protect existing products and business models? E.g.: The editor in chief wants to protect the print subscriptions and will not allow to publish the content online first? Are the minds of the management open enough to think about new business models such as book flat rates, content-for rent, ad revenuedriven portals or selling non-media-products? Seite 10

: The editor in chief wants to protect the print subscriptions and will not allow to publish the

11 Controlling / Budgeting Is the usual expectation of profitability the right key performance indicator (KPI) for innovative products? In which way are innovative products budgeted? Is there something like a development budget? Is the controlling able to do an adequate finance reviewing? Do they have the appropriate KPI? Seite 11

In which way are innovative products budgeted?

12 Discussion What are your experiences with innovation processes in publishing houses? Seite 12

13 Thank you for attention Ehrhardt F. Heinold Heinold, Spiller & Partner Unternehmensberatung GmbH BDU Behringstraße 28a Hamburg Fon: Fax: Internet: Seite 13