This document provides an overview and agenda for a corporate innovation workshop. It will discuss why corporates should innovate to avoid disruption, how innovation can benefit companies, and common dilemmas in corporate innovation. The workshop will also explore how companies can innovate through internal labs, competitions, open innovation, and venture capital arms. Key questions to be addressed include how companies can overcome barriers to innovation and how to get started with innovation initiatives.

1. CORPORATE INNOVATION
WORKSHOP
Date - 25 August 2022
Imran Baghirov
Cofounder at LotfiZadeh Technology Center
Digitalization & Efficiency consultant

2. If we do not disrupt
someone else will do

3. Why corporates should innovate ?
How to innovate?
Which competencies are needed?
Dilemmas to address
CORPORATE INNOVATION
1
2
3
4

4. COMPANY PERFORMANCE
BENCHMARKS 1
2
3
4
Interest rate
Weighted average
cost of capital
Industry profitability
margins
Long term strategic
capabilities

5. Satisfied customers
Shareholder returns
Attraction of capital
WHY TO
INNOVATE ?
Motivated employees
Sustainable operation
Disrupting first

6. How to win game tomorrow ?
What are things to change now ?
QUESTIONS TO ASK
Why people pay to us ?
How the world changes ?

7. Product A
Infancy
Ideal for
customer
Time
Youth
Maturity
Old age
Product B
DISRUPTIVE INNOVATION
S CURVES

8. Use email
sparingly
INNOVATION
FUNNEL Trends
Research
Develop
Commercialize
IDEAS
TECHNOLOGIES
BUSINESS MODELS
MARKETS
OF THE
FUTURE

9. Corporates realise that
they cannot do it alone
and therefore establish
venture capital arm. This
arm invests, works and
injects the innovations to
the existing business
model of company.
Doing innovation within
the company with the
employees of the
company. Company
allocates money and
resources for prototyping
and moves on to the
commercialization.
Holding different type of
innovation events and
competitions like
hackathons and etc
gathering talents and
potential innovative ideas
into the company.
Opening doors of
innovation to the
community, where
development community
and related businesses
can jointly put efforts on
innovation.
Venture
Capital
Arm
Internal
innovation
labs
Events and
competition
s
Open
innovation
WAYS FOR CORPORATE TO INNOVATE

10. Current
revenue vs
tomorrow
revenue
Change
management
risks and
rewards
Buying
innovation
or doing it
yourself
Sticking to
your industry
or
expanding
New
competences
vs old ones
DILEMMAS FOR CORPORATE
INNOVATION

11. Workshop questions
What stops
companies
from innovation
?
1.

12. Workshop questions
2. How to start ?

13. Workshop questions
3. Which competencies
are needed ?

14. Questions to discuss?