Innovation Interview: Q&A with Santhi Ramesh, The Hershey Company
In our Innovation Interview series, we recently caught up with Back End of Innovation speaker Santhi Ramesh, who is also Global Director of Innovation, Commercialization & Futures at The Hershey Company.
Here’s what she had to say:
Why is execution the most critical part of the innovation process?
Ramesh: Ideas are cheap. What is most important is how to translate a consumer relevant idea into a winning proposition that not only satisfies a need but is also easy to understand, find, apply and use. It is important to invest sufficient time, energy and attention for implementation so that the compelling insight is translated not only to the product idea, but also equally impactful packaging, marketing communication, merchandising and sales programs.
What is the biggest challenge of innovation?
Ramesh: It is easy to get influenced by the loudest voice in a focus group or the multiple leaders in an organization to evolve an idea numerous time. Often this behavior leads to dilution of the core insight and a luke warm consumer proposition. Having the courage to stick to the core insight, the conviction that your unique idea can deliver the insight and persevering through the rollercoaster of ups & downs across the development path is the biggest challenge.
What does it take to create a balanced portfolio that wins?
Ramesh: It is critical to set clear organizational goals for the three segments of a balanced portfolio – core, adjacent and transformational/breakthrough. And equally important is to have a governance model to assess, track, prioritize and action on a regular basis and deliver the goals. Deployment of resources to activate initiatives that enable the balanced portfolio will be key to success – Whether it be choosing to kill ideas or to boost untapped areas.
How can we ensure buy-in of an idea across the entire organization?
Ramesh: 4 key steps -
- Understand the innovation brief and lock in the scope
- Involving key stakeholders throughout the development process
- Engage the stakeholders by bringing ideas to life – prototype
- Energizing and inspiring the organization towards the idea – the simpler the idea is to communicate, the easier it is get buy -in
Why is it important to drive and embed innovation into every part of the organizational culture?
Ramesh: Diversity of thought is critical to leveraging creativity. The ability to challenge the status quo, be agile and adaptable, foster experimentation, take smart risks and drive change are leadership tenets that everyone needs to embrace - not just scientists and marketers but supply chain and sales teams - in order to bring innovation to life.
How can large corporate power-houses capture the spirit of a nimble startup?
Ramesh: Providing an ambitious goal to small dedicated team works wonders when they have limited resources and short timelines. It is amazing how team become creative when resources are scarce. As they say, necessity is the mother of invention.
How can you ensure a successful go to market strategy?
Ramesh: The best way is to make sure that this initiative is #1 priority for the organization - with clear goals aligned across all functions. Next, active engagement and ownership of the team that will execute the go-to-market strategy will be key to ensuring successful implementation.
Want more on these topics? Don’t miss Ramesh speak at BEI: Back end of Innovation October 22-25, 2017 in Orlando, FL. For more information or to register, click here.