Presenting Innovation9
A center of excellence
How Do You Innovate and Securely Run the
Business Amid Disruption?
Sustain "Work as Usual" by integrating a disruption-proof strategy for your core business. Simultaneously, leverage an Innovation Lab to explore breakthrough ideas and emerging technologies in a risk-tolerant environment, fostering agility and transformation without compromising primary operations.
Retail Context —
Cause of Innovation
Lab
- Unprepared for disruption from digital competitors.
- Challenged to develop digital competencies, need to learn through collaboration to stay ahead in the times of disruptions.
Retail.Co*
Building Blocks of Operating Model
Innovation
Lab
Core Goals
Supportive goals
Innovation Lab
Building Blocks
- Building Blocks of Operating Model
- Supportive Goals
- Core Goals
Building Blocks of the Innovation Lab
Operating Model
The Futuristry Innovation On Lab operates on a robust framework encompassing financial performance metrics, clear decision rights, and a structured talent ecosystem. It integrates strategic sourcing, alliances, and cutting-edge tools, fostering collaborative, innovative ways of working in a dynamic, creativity-driven environment.
Engage
"Proportion of the IT spend and from the business, an x% of the fund, was put aside each for innovation. Then we created a put aside each for innovation, which then requires supporting the startup model as a venture fund."
Retail.Co*
Financials
Performance
Decision Rights
Deliver
The challenges we faced during our journey of the innovation lab were:
- Felt challenged while engaging back with the core business.
- One of our key partner’s core business goals was not aligned with our vision causing slow outcomes.
- We were thinking of investing in quick solutions, not innovation lab, because the industry was evolving too quickly.
Common Innovation Lab
Challenges and Solutions
Bridging the gap between prototyping and real-world deployment remains a key challenge. Ensuring early collaboration with business units enables seamless integration and accelerates adoption. Misalignment with partners can derail innovation efforts—this is mitigated through a clear value proposition and a dedicated relationship manager to maintain strategic focus. Additionally, disruptions often lead to reduced innovation investments, stalling progress. Sustained innovation through the lab ensures momentum, fostering resilience and driving growth even in uncertain times.
,| Challenges | Call for action |
|---|---|
| Core features to draw in users (e.g., payments, communications) | Work closely with the business early. |
| Core features to draw in users (e.g., payments, communications) | A clear value proposition and involve a relationship manager. |
| Core features to draw in users (e.g., payments, communications) | Deliberately innovate through innovation lab. |
- Continue investing in innovation in a time of disruption in the risk-tolerant environment for a quick turnaround by investing in an innovation lab.
- Set a crystal-clear vision for the innovation lab by defining detailed, quantified, time-bound goals that lead to desired business outcomes.
- Design an impactful innovation lab by creating a structured innovation operating model to guide decision-making activities for innovation investments.
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