On the way to becoming an innovation leader

Hand on heart: Have you been disciplined in turning your resolutions into reality in the past or did you run out of steam halfway through? Answer this question honestly and if you come to the conclusion that you should definitely act more strategically, you absolutely must read the following interview with Dr. Tanja Jovanovic (Head of Technology and Innovation Management at Bayern Innovativ) and Dr. Michael Durst (CEO at ITONICS) to the end or listen to it as a podcast (see bottom of page).

Mike, what are the most important topics for companies in 2021?

Dr. Michael Durst: We see an increase in digitization . On the one hand caused by the pandemic and on the other hand accelerated by a strong technological progress - keyword "cloud computing". In addition to digitization, I observe that companies are focusing more on innovative strength and greater speed in implementing the transformation - one reason for this is the high international competitive pressure. Furthermore, I think that end-to-end sustainability and New Work will become more important.

Where do you see the biggest challenges in the implementation in companies?

Dr. Michael Durst: We all experienced it live in 2020. You were in the middle of implementing important innovation projects and then a pandemic hits and suddenly day-to-day business is priority number 1. In addition, the complexity in digital transformation is still underestimated. Many quickly create an app. Others convert a bit to browser-based processes. And then the teams think "we're done with it." But the truth is that the systems, processes and ways of working behind digital technologies remain unchanged and are not adapted to the transformation. Another aspect is that often the strategy is not really communicated to the team and the pressure to change is underestimated: "The day-to-day business is actually going well. We don't have to change so quickly after all."

What would help so that companies keep their resolutions?

Dr. Michael Durst: Negative pressure - for example, when business is down. We see it currently in the retail trade: Suddenly, nevertheless, all can offer online trade and suddenly, nevertheless, one can pay with credit card at the baker. But I don't recommend this stress factor to anyone. It is better to continuously plan, decide and act with foresight. For example, with an innovation roadmap that records change ideas and, of course, also documents the progress of implementation. This positive pressure should be exerted by both top and middle management. But in terms of motivation and an internal learning to set priorities correctly. There are methods for this, such as the scenario technique, an innovation portfolio or trend and technology radars .

Tanja, please explain how the scenario technique works in a little more detail!

Dr. Tanja Jovanovic: With pleasure. We - Bayern Innovativ - sat down with ITONICS a year ago and decided that we would like to show the automotive industry - an industry that is currently undergoing major upheaval - concrete future prospects with the help of a scenario study. To this end, we have developed four very different future scenarios for the year 2030, based on existing trends and technologies as well as interviews with experts. From these, we can derive concrete recommendations for action and say to OEMS, suppliers and policymakers: "There are opportunities here. This is the direction you should go."

Sounds exciting! Where can you read the results?

Dr. Tanja Jovanovic: We will publish the study on our homepage no later than February 2021 and inform our readers or. podcast listeners via Newsletter and Social Media .

Can your learnings also be transferred to other industries?

Dr. Tanja Jovanovic: Yes, the potentials we identified for the automotive industry also apply to other industries. As Bayern Innovativ, we definitely want to push the topic of cross-industry innovation. In other words, bring together different industries and companies to innovate together. Another aspect is the application of the method itself. The scenario technique used enables a plan for the future and provides guard rails. Every company should shape its future in a goal-oriented way and not blindly follow any trends.

Mike, what do the results of a scenario technique specifically mean for a company?

Dr. Michael Durst: I always see three aspects when we talk about holistic innovation management . The first aspect is called "Where to play." Where are there future opportunities and risks for a company? An example question is, "What revenues or margins will not be available in the future?". The second aspect is called "How to win." That is, if I as a company get an idea of what the future opportunities are, you have to ask yourself, for example, "To what extent do I realize these opportunities?", "Do I need supporting partners?", "Do I want to secure the patents ?", "How much revenue will I make from this idea?". And the third aspect is called "How to execute." In other words, the question, "How do I get my idea on the road and convince potential customers to buy the product?" It is essential to treat the three aspects mentioned equally and to keep them in view on an ongoing basis.

While answering these three questions, a company collects a lot of data over time and in order to process it, ITONICS supports us with a corresponding software solution. Digital solutions can take innovation management to a new level.

The interview was conducted by Dr. Kord Pannkoke, Head of Business Development at Bayern Innovativ GmbH.

Listen to the full interview as a podcast: