LIC Innovation Review
Innovation is the key to staying ahead of the game but can be hard to monitor in a large company. We used our Six Lenses for Innovation framework to get a view on what needed to change for Livestock Improvement Corporation (LIC).
LIC is the oldest farming co-operative in New Zealand, helping to improve the prosperity and productivity of their farmers with superior genetics and technology. LIC develops products and services that have an unusual combination of life science, hard technology, automation, software development, data and analytics. This breadth creates unique challenges and opportunities for innovation within the business.
LIC’s board of directors asked us to undertake an innovation review to provide objective analysis and insights that could improve their product development and commercialisation process and its outcomes. The board indicated it was looking for ways to improve development speed and deliver products in line with the market expectations at the right time. We used our Six Lenses framework to find the weakest links and provide a series of recommendations for improvement.
“Problem, meet opportunity; that’s where innovation begins.”
ACROSS ALL AREAS
The Six Lenses framework looks through different lenses at a company to identify areas of concern or issues that may limit innovation. It creates a holistic view and allows us to engage with people throughout an organisation, leaving no stone unturned.
We worked with executive teams across all areas within LIC resulting in a structured set of recommendations. It helped LIC to change their R&D processes to a learning first approach, fostering collaboration and exploration for new product development. The introduction of a stage-gated product development process and incorporating market entry and commercialisation as a core part of any project has helped ensure commercial success from day one. It’s led to tangible changes in their method of work and structure of the company, short and long term.