#54 - Cordell Hardy | 3M | Navigating the Balance of Ambition and Returns in Global R&D

“To value a portfolio, you have to be able to forecast and if
you're not in the business of delivering on forecasts, then your
innovative roadmap is not going to turn out to be too valuable.” In
this episode, we are joined by Cordell Hardy, PhD, Senior Vice
President of Corporate R&D Operations at 3M. With more than 20
years of experience at 3M, Cordell is a seasoned R&D leader
driving business growth by combining skillful management, technical
breadth, and business acumen on a global scale. Having shared
responsibility for a wide range of products worldwide, Cordell has
become a true expert in the field of portfolio management. In this
informal exchange, we not only explore the question of what a
balanced portfolio looks like and how this "balance" can be
achieved but also learn about the role that the net present value
and the degree of innovation of new investments play in this
context. Want to know more? Listen to the full episode! The episode
at a glance: - Who is Cordell? (00:01:23) - Cordell, please
complete the 3 sentence starters… (00:02:10) - Very brief insight
into Cordell's work at the non-profit organization Minnesota
Community Care (00:05:20) R&D and Innovation at 3M - Cordell
about his leading function of a geographically and functionally
diverse technical organization that supports the 4 global business
groups within 3M (00:06:34) - Do you think the word “innovation” is
at risk of being commoditized or overused? (00:09:03) - What
separates winning companies from others who are just "muddling
along" when it comes to “doing science”? (00:11:13) - Where do you
see opportunities for new ways of doing business, and how can you
use them to drive growth? (00:15:57) - The “Either-Or” game
(00:19:34) Portfolio Compositions - How can organizations achieve
the right balance in their portfolio? (00:22:14) - What does a
well-balanced portfolio look like then? (00:25:21) - What does the
decision-making process look like at 3M? (00:28:30) - How to ensure
that the portfolio is linked to strategy and the resources are
allocated in a way to support the overall goal? (00:30:31) - What
are some of the most pressing H2 or H3 challenges and opportunities
you're currently facing at 3M? (00:32:51) - Cordell’s actionable
key recommendations to take away from this episode (00:34:43) -
Looking back: Cordell’s Innovation Rockstar moment (00:37:39) ***
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