How appliance-maker Jarden is testing new business models
Our October Innovation Leader Live call guest was Asoka Veeravagu, VP of Business Development for Transformational Innovation at Jarden Consumer Solutions. The Boca Raton, Fla. company owns brands like Mr. Coffee, Aerobed, and Sunbeam.
Veeravagu talked about:
• How the program has evolved
• How the company is exploring new subscription business models
• Co-creation with partners like Anheuser-Busch
• How his budget gets set
• Gauging consumers’ willingness to pay for new products
• Four stages of innovation: Spot, shape, seize, and scale
• How Jarden works with startups and entrepreneurs
• A recent experiment on the crowdfunding site Indiegogo
• Getting buy-in from the business units
On that last topic, he says, “We help to identify opportunities that [the business units] would like to pursue three to five years out, but today they don’t have the resources, the time, the bandwidth, the capabilities to go after them. When we align on those opportunity spaces, we actually bring a business unit champion and have them be part of that initiative team. This is typically a more senior individual, a director level or VP level or higher.” Those execs don’t work day-to-day with his team, Veeravagu explains, but they are involved in “direction-setting, in key decisions, and even in long-term integration planning.”
Complete audio of the half-hour call is below, followed by edited highlights. Click the “down arrow” button at right to download the file as an MP3 for later listening.... continued ...