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Innovation Training

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Melissa Logan

on 28 June 2013

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Transcript of Innovation Training

Define "Innovation"
Idea Generation
Innovation: A change in product, service, business model or operations which meaningfully improves the experience of a large number of stakeholders.
Engineering Model
Know Your Role
So What's Next?!
Innovation = Value + Results
Doug Hall,
Inventor & Innovation Guru
The Process
Why Innovate?
Maintain strong financial, performance, quality, client and employee results.
Since other community banks aren't talking about or ready for this, we can differentiate ourselves from the competition.
Androscoggin Bank acknowledges that the best ideas often come from those closest to the idea... we want to give our employees a voice.


The Board and Senior Leaders agree, Innovation is essential to:
Coaches and reinforces the Innovation Engineering model.
Teaches and reinforces the Idea Generation process.
Develops and supports solutions. Promotes and uses a disciplined decision making approach.
Is a change agent, and actively consults/coaches managers and employees through change.
Encourages and recognizes individuals who have meaningfully unique ideas and demonstrate innovative behavior.
Creates a learning and collaborative culture.
Innovation Team
Coaches for understanding of the Innovation Engineering model.
Fosters an environment that encourages ideas and different approaches.
Demonstrates active listening and has an open-minded and cooperative approach.
Performs analytical analysis to develop and support solutions.
Encourages and recognizes individuals who have meaningfully unique ideas and demonstrate innovative behavior.
Management/Bank Officers
Has the knowledge of the process for submitting a meaningfully unique idea.
Submits ideas and develops approaches that enhance client satisfaction.
Approaches change in a positive manner.
Takes action to be part of a solution versus complain.
Encourages others to make meaningful suggestions.
Understands why innovation is critical to AB culture.
You, the Employee
Choose Your Client
It is critically important for you to take ownership of your idea by putting your name on your submission. We need to know who to contact about their brilliance!

Your idea is fantastic – it should be aptly titled!
What’s In A Name?
Why?! Why do you think this is the most stupendous, outrageously brilliant idea you have ever thought of?!
What’s Most Important
What is the raw math involved for your idea?

Cost to Implement - $100.00
Revenue Generated - $150.00

Net Revenue = $50.00
Crunching Numbers
What factors could threaten the lifespan of your idea? Some we can problem solve and conquer, but others may kill the deal.

Fail Fast, Fail Cheap.
Death Threats
How is your idea different? By this we mean, how does it set us apart from the competition?

Why should we believe you?
We Need Proof
The more specific you can be in your submission, the more efficient we can be in implementing it.

What are you promising?
200% faster than other banks
1 hour turn around time
Easier to use than an iPhone

Let’s Get Specific
Meaningfully Unique
We aren’t talking numbers just yet… how much work will it take your client to implement your idea?
Client Cost
Provide some details as to how your idea addresses and/or solves a problem.
Be a Problem Solver
Why does this matter to you, to Androscoggin Bank and to the client?
Whose problem are you solving, really? Be specific.
This will be a gradual introduction, not immediate.

2014 and beyond…

Performance Review Criteria

Planning Strategically

The online submission form will go live on 07/08/2013

Not all ideas will be immediately adopted, but all will remain in the queue.

Ideas will be evaluated regularly to determine which are most viable and impactful.

Vague ideas will be sent back for further development.

You can see the current status of submitted ideas by visiting:


Setting Realistic Expectations

As of July 8th, Strategy in Action cards can be awarded for innovative work.


Full transcript