Innovation Answered

InnoLead

Innovation at large, established companies is hard. So we made a podcast to help you overcome obstacles and create change at your organization. Welcome to Innovation Answered, the podcast for corporate innovators. We've featured top leaders from companies like Walmart, Lyft, Google, Trek, Herman Miller, Anthem, Kellogg's, Wayfair, Royal Caribbean, FitBit, Lucasfilm, and CVS. For more information and show transcripts, visit innovationleader.com/podcast/. read less
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Episodes

What Makes Novartis a Persistent Innovator?
28-02-2022
What Makes Novartis a Persistent Innovator?
How do big companies stay innovative across many decades, and in different industries? That’s been the driving question of our Persistent Innovators miniseries. In the fourth and final episode we turn to company in a very different kind of business: discovering and developing new drugs. And we focus on the global pharmaceutical giant Novartis, formed in 1996 from the merger of the venerable Swiss companies Sandoz and CIBA-Geigy. At its Novartis Institutes for BioMedical Research, opened in 2002, Novartis invented a new style of biology-centric drug discovery that has changed practices across the industry—and sparked a local biopharma boom that has utterly transformed the Kendall Square neighborhood of Cambridge. Compared to the other industries we’ve covered in the miniseries, namely digital devices (Apple), entertainment (Disney), and toys (LEGO), the pharmaceutical business is downright cutthroat. Product development is risky, time-consuming, and expensive; competition is incredibly fierce; and even a blockbuster drug can become a flop once the patent expires and a generic drug makers jumps in. On top of all that, drug makers have to operate outside the traditional world of consumer marketing: You take a Novartis medicine not out of any brand loyalty to Novartis, but because your doctor tells you to. The net effect is that to stay successful, a big drug company must keep their product pipelines full and churn out hit after hit—which, when you think about it, is the very definition of a persistent innovator. In this episode, former Novartis executive and drug hunter Tom Hughes explains how Novartis’s first CEO decided to rebuild the company’s drug discovery effort around a genomic and molecular understanding of disease. And current NIBR president Jay Bradner talks about the structures Novartis has set up to protect and promote high-output innovation. Finally, we speak with Sam Wiley, head of thought leadership and customer advocacy at PatSnap—our sponsor throughout the miniseries—about a few more companies he sees as persistent innovators. Special thanks to our friends at PatSnap and Innovation Academy for sponsoring this miniseries.
What Makes LEGO a Persistent Innovator?
14-02-2022
What Makes LEGO a Persistent Innovator?
LEGO is one of the world’s most famous and admired brands. The company’s colorful plastic bricks are the literal building blocks of an empire that spans a $5 billion annual toy business, hundreds of retail stores, 10 theme parks, and a series of hit movies. But what LEGO actually sells isn’t just the bricks, it’s a whole system of play: an endlessly expandable way for children (and adults) to combine hand, eye, and imagination. It was when product developers drifted away from that system in the 1990s and early 2000s—introducing a blizzard of toy lines that didn’t use the bricks at all—that LEGO stumbled into serious trouble. The company had a close brush with bankruptcy in 2003, then grappled its way back to profitability by refocusing on its core customers and their passion for building things. For this third episode of our Persistent Innovators miniseries, guest host and producer Wade Roush sought out LEGO experts like journalist Bill Breen—co-author of the authoritative LEGO history Brick by Brick—as well as former LEGO executives Robert Rasmussen (developer of the LEGO Serious Play method) and David Gram (founder of the consulting firm Diplomatic Rebels). They explain what went wrong at LEGO, how the company rediscovered the spirit of play that make its toys so beloved, and what it does today to make sure that innovation doesn’t stray too far outside the brick. The Persistent Innovators is sponsored by Patsnap (www.patsnap.com), the Connected Innovation Intelligence company, and by Patsnap’s online courseware site Innovation Academy (academy.patsnap.com).