Expanding Innovation to Better Serve Existing Customers

Expanding Innovation to Better Serve Existing Customers: How Epiroc Survived and Thrived During Covid

While revolutionary, disruptive innovation gets a lot of attention, it's a risky, failure-prone, and expensive strategy. Sometimes the lowest-risk, highest-reward type of innovation is to focus on your existing customers and expand the range of products and services you provide them.

In this webinar, MIT Sloan Senior Lecturer David Robertson and Jon Torpy, President and General Manager of Epiroc USA (a maker of drilling, mining, and construction equipment) discuss how Epiroc successfully restructured its innovation system.

A key element of this was the company's elevation of its product managers into Product Owners. Much more than a title change, product management at Epiroc was transformed from a Marketing role into the "CEO of the Product," and these Product Owners were asked to bring to market a more complete suite of product and services for their customers. As a result of this and other changes, sales and profits at the company increased dramatically.

Takeaways from this 60-minute virtual event include:
• How to innovate “around the box” vs “outside the box” to boost sales and profits
• The implications of this innovation strategy for your Product Management roles
• Best practices to implement this innovation strategy within your organization