Webcast replay: Fidelity VP on tools for innovation teams

When should you — and when shouldn’t you — use tools like idea management, design thinking, and lean startup methodology? Rick Smyers, Vice President of the Center for Accelerated Innovation at Fidelity Investments, touched on those questions and many others in a recent webcast for Innovation Leader members. Smyers made the point that an innovation culture isn’t something you can really create on its own — it’s an outcome of having the right strategy, tools, resources, and people in place.

“If you just talk a lot about innovation and make a lot of noise, it can backfire,” Smyers said. “People can hear a lot about it and think, ‘It’s just another management fad. It’ll go away.’ Whereas, if you do things first — you launch a new product or even just implement a policy or process change — and then talk about, it feels more authentic to the employee. It resonates, and it can go viral more easily. If it’s just a speech, it’s hard for a speech to go viral.”

You can view the playback below, and you can also download his slides from our Resource Center.

Member questions start around 38:30. They included how Fidelity gets customers for its lean startup experiments; using outside consultancies versus in-house teams (they’re biased toward the latter); hiring from outside to bring in fresh perspective; and Fidelity’s approach to interacting with startups, especially around emerging areas like Bitcoin.

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