Innovation: Kathy Harris

Very well attended session. This is the presentation

Innovation is the step wise, leaps - the every day efficiency, incremental changes is an expectation on everybody and not innovation

Lead customer as innovator - they will lead to leading edge trends

The deck discusses six types of innovators - would be interesting to look at this space and try and label Wachovia Retail into one of these categories with the planning team - I think we a conservative follower.

Quadrant view of innovation: the lower two quadrants see innovation as a must do to move out of a crisis situation

Innovation out of success is a challenge

Innovate needs Focus - you must focus to do this well and measure what our threats and/or opportunities -

Bank of America is getting a lot love at this conference; I have not heard our name once !!! She mentions them so many times.

The selection of ideas into build and operate is where most innovation dies; bridging the gap is a real challenge. There are our practices here; one of the most common is to get the operational folks signed up early on. If they do not sign up. Move on to the next idea. Good strategy.

Innovation technology - most of us have the technology - managing the ideas is one technology - low cost tools

Critical technology is the process of make innovation a repeatable, sustainable process vs. a one off

Need creative people - most people are - need freedom in the corporate culture to be creative

Will have lots of challengers need them to move into collaboration - switching challengers into collaboration is accomplishable - the next stage is cooperation, a sense of management and control

Need to be proficient in managing ideas; get to no faster and enforce this

The spider diagram can be used to score the ideas; looking for a best fit. Should tailor the spider diagram to your situation - need ability to accelerate great ideas - need innovator mentors at the senior level to help this out.

Need strong project management to do innovation - need sharp focus

Innovation - walk the walk and believe in innovation at the CEO level - have to start there to make this work -

Conclusion: Important topic and good presentation.