Right/Left Brain Dominance Test Which Side Are You On? Circle either “ A ” or “ B ” that most accurately describes you. 1. A. At home, my room has organized drawer and closets. I even try to organize other things around the house. B. At home, I like the "lived-in" look. I clean as I see a need and when I have the time. 2. A. My desk is usually clean and has everything in place. B. I leave my work out on my desk so I can work as I am inspired by ideas. 3. A. I like using the "tried and true" method. B. I like creating new methods. 4. A. I follow directions carefully when I build a model, make a craft, etc. B. I like to build a model my way, making my own creation.
Business model Innovation Technology Innovation Value proposition Supply Chain Target Customer Changes in the value proposition of the product or service – essentially, what you sell and deliver to the marketplace – may be entirely new product or service or an expanded proposition for an existing offering. Supply chain – how value is created and delivered to the market. Changes to the supply chain are usually “behind-the-scenes”, changes that customers typically do not see. This type of business model change affects steps along the value chain, including the way an entity organizes, partners, and operates to produce and deliver its products and services. Changes in to whom you sell – the target customer segments – usually occur when an organization identifies a segment of customer to whom it does currently direct its marketing, sales, and distribution efforts that would consider its product and services valuable.
Business model Innovation Technology Innovation Value proposition Supply Chain Target Customer Product and Service offerings Process technologies Enabling Technologies A change to a product or service that a company offers in the marketplace – or the introduction of an entirely new product or service – is the most easily recognized type of innovation because consumer see the changes first-hand. In today’s fast-changing market, consumers have come to expect significant and recurring technological innovation of this kind. Changes in the technologies that are integral parts of product manufacturing and service delivery can result in better, faster, and less expensive products and services. These process technology change are usually invisible to the consumer, but often vital to a products competitive posture. Rather than changing the functionality of the product or the process, enabling technology enables a company to executes the strategy much faster and leverage time as a source of competitive advantage.
The Challenges of Balancing Creativity and Value Capture As organizations mature over time Bias toward creativity Balance creativity and value capture Focus on value capture Challenge for start-up companies Challenge for mature companies
Creativity Processes (Imagination) Value Creation Processes (Concept into Reality) Out-of box thinking Raw and refined ideas Experimentation Ambiguity/Uncertainty Research Intuition Surprise Seize opportunity Ask questions and explore the unknown innovation Visualize the future an consider all options Include incremental and radical innovations In-the-box thinking Engineering/Manufacturing Precision Well-calculated trade-offs Buying/Selling of ideas Do things right Get the product into the marketplace Bias for incremental Avoid major risk Answer questions and verify solutions
Organizational Antibodies Blocking Innovation The company suffers from Not-Invented-Here syndrome. “ We have always done it this way” mentality dominates decision-making. Failures are socially punished. The power structure supports status quo and fights change. Managers see supporting innovation as reducing efficiency and as a waste. Measures and rewards support a focus on short-term efficiency. Innovation are funded based almost entirely on financial metrics. There is a lack of tangible commitment to innovation from top management. Innovation are ignored or rewarded unfairly. Ideas have nowhere to go. Innovation is treated as discrete events rather than as day-to-day activity.