The fifth episode of VTT’s podcast series titled Hope, innovations and sustainable growth (Toivo, innovaatiot ja kestävä kasvu) focuses on how to implement agile innovation strategies in a large enterprise. The topic is discussed by Peter Vanacker, CEO of Neste, and VTT’s President & CEO Antti Vasara.
Neste is a great example of a company that has undergone a thorough business reform, moving from oil refining to developing renewable mobility solutions. During the podcast episode, Neste CEO Peter Vanacker explains that renewal has always been part of the very essence of the company.
"A vision alone is not enough. Companies must believe in their own actions and goals, even if others would doubt their success.
According to Vanacker, Neste encourages innovation by means of the 80/20 model, for example. In the model, 80 per cent of working time is allocated to projects and 20 per cent to innovation and learning.
"Many innovations have been created precisely during that 20 per cent.”
On the podcast, Vanacker and VTT’s President & CEO Antti Vasara also discuss the fact that large companies in particular may stifle innovations under excessive bureaucracy. Vasara uses a British start-up company as an example.
"In addition to risk management tools, they also had a separate plan for taking risks. The company had specified how and in what areas it wanted to take risks," says Vasara on the podcast.