BROADCASTS.com

After working at Nike for 20 years, Lorrie Vogel founded ImagineNOW, an Innovation consultancy.\xa0She talks with Brian Ardinger, Founder of Inside Outside Innovation, about building an innovation portfolio.\n\n\nLorrie started her career at Nike working in industrial design, then led innovation and sustainability, and finally served as Vice President of Material Science and Innovation.\xa0Today, Lorrie leads an innovation consultancy, where she helps others with emerging science and tech, systems, and innovation teams.\xa0\n\n\nKey Points\n - Nike\u2019s approach is very systematic. Every team has a process. Nike does early prototyping.\n - As we brought new innovation into the portfolio, we became more systematic when looking at tech. If it was successful, how would it impact our business?\n - If you work in innovation, you need a filter. Evaluate - Does it drive revenue, decrease cost, reduce environmental footprint, strategic IT, new better performance, and brand value? Look at it from different perspectives, which innovations are below this line. Does it add value? Look for the game-changer. But sometimes, specific teams want to elevate various activities for different reasons.\n - Make sure portfolio is broken up across business teams so every team benefits. If your company is committed to reducing enviro footprint, you need to have some key components to address this. Bulk of your innovation should be revenue focused.\n - How do other companies address? Google makes sure value is there in new innovation, but they can do almost anything. Think about what stage are you in your company. Don\u2019t do it in a vacuum. Sometimes it\u2019s around can I make this happen, but is the marketing team excited? Need to have all teams engaged.\n - Even by having a system, need to think about the budget. The more you learn, need to continue to evaluate. Dynamic portfolio. Monitor the market because sometimes the market is not ready for the newest innovation.\n - Innovator Traits - Be alright with ambiguity. Every group that performs well are reaching out to others. Open to collaborate. Design boards help others understand.\n\n\nFor More Information\nFor more information, go to imagineNOWinc.com\xa0or find Lorrie Vogel on Linkedin.\n\n\nThis week's podcast is sponsored by Husch Blackwell\n\xa0\nFor similar podcasts, check out:\n\n\nEp. 123 \u2013 Gatorade\u2019s Xavi Cortadellas on Breakthrough Innovation\n\ufeffEp. 81 \u2013 Jack Elkins with Orlando Magic\nEp. 77 \u2013 Renata Policicio with ESPN\n\n\nFind this episode of\xa0Inside Outside Innovation at\xa0insideoutside.io. You can also listen\xa0on\xa0Acast,\xa0iTunes,\xa0Sticher, Spotify, and\xa0Google Play.\n\n\n\n\nFREE INNOVATION NEWSLETTER\nGet the latest episodes of the Inside Outside Innovation podcast, in addition to thought leadership in the form of blogs, innovation resources, videos, and invitations to exclusive events.\xa0SUBSCRIBE HERE For information regarding your data privacy, visit acast.com/privacy