Don Wiesenforth, the Assistant Director of Innovation for Albany Medical Center and a 2014 cohort member of the University at Albany's Weekend MBA Program, sought to answer that question as he gave attendees of his October 31 presentation an overview of a program that provides a systematic approach to innovation. The fundamental concepts of the program include tools and methods for creating, communicating, and commercializing meaningfully unique ideas. Please contact Don at wiesend@mail.amc.edu or at 518.262.1655 for additional information.
3. We believe innovation is the engine
that will keep us vital and growing
innovation is our strategy
we create innovation through
intellectual property and passion
To succeed we must maintain our innovative environment. We
strive to embrace change, challenge the status quo, listen to all
ideas and viewpoints, encourage and reward informed risk
taking, and learn from our success and mistakes
5. No formal innovation
process need ideas
We
Competitor
wins/funding gets
cut
No progress
This
Hurts
We schedule
more meetings
Call a meeting
We shoot down
ideas
8. Innovation means COMPANIES make
more money $
% PROFIT
MARGIN
(RETURN ON
SALES)
SELF REPORTED COMPANY STRATEGY
GEORGIA TECH
2010
9. Innovation means EMPLOYEES make
more money $
$53,000
STRATEGY = INNOVATION
AVERAGE
EMPLOYEE
WAGES
STRATEGY = LOW PRICE
$33,000
GEORGIA TECH
2010
10. Why INNOVATION?
Microprocessors
Over Time
1980
LCDs
2005
Airlines
1988
1997
2003
Crushed Stone
2003
1940
Cable Boxes
1998
Brokerages
2004
Cars
2003
1968
1990
2003
Mobile Service
1994
2000
Milk Bottles
2004
1990
2004
Wireless Services
1990
2003
Personal Computers
1988
2004
Plastics
1987
2004
prices DECLINE
- 25% with each doubling of experience
VCRs
1993
2004
DVD Players
1997
2005
Color TVs
1997
2002
11. Why NOW?
INTERNET Means
True Free Market
• Everyone Competes
• The Courageous WIN
• The Clones LOSE
Yesterday
Today
The Life Cycle is Getting
FASTER & FASTER
12. Confront reality
“Where is your company on the curve?”
BUSINESS LIFE CYCLE
“WHAT’S YOUR PROCESS TO REBOOT GROWTH?”
13. But we have this…
We need ideas
Call a meeting
Competitor
wins/funding gets
cut
We shoot down
ideas
No progress
We schedule
more meetings
15. Pedigree
System Originated at P&G
Optimized Over 26 Years
88% Repeat Rate
Peer Reviewed & Approved
Academic Minor &
Graduate Certificate
12 Universities/Colleges
Adapted to work with
Small Companies
7,000+ in past 3 years
17. What makes
Innovation Engineering
Different?
1.) Systems Focus
3.) Engineering Mindset
Our inventing program applies the systematic
approach of Deming Total Quality and SixSigma to Innovation.
We use a collection of proven and
validated tools continuously improved from
the experience with 400+ clients.
2.) Grounded in Data and R&D
4.) Meaningful Uniqueness
Eureka! Ranch has quality control charted
and studied 26,000+ innovations, and 6,000+
innovation teams over the past 26 years to
build the best innovation system in the world.
The Eureka! Ranch is legendary for its
singular focus on creating big ideas that
are "meaningfully unique" to customers,
companies and those working on them.
FOUNDATION
The Research, Application
& Teaching of
Dr. W Edwards Deming
20. Innovation Problems
Survey of CEOs of Small to Mid Sized Companies
Problem #1
It can take a LONG TIME to
see results
Problem #2
It can be very RISKY
21. the stages of the I.E. system…
s
CREATE
TOOLS
pro
c es
pro
duc
COMMUNICATE TOOLS
COMMERCIALIZE TOOLS
1/3 (30 – 90 Days)
$
ts
2/3
5%
$ 95%
sales
services
•CREATE New
•Capture Existing
Ideas
•Customer
•Problem
•Promise
•Proof
•Difference
Define
•Concept
•Maths Model
($+ Costs)
•Threats
(unknowns)
ma
Fail Fast Fail Cheap
kets
mar
rke
ti
ng
$
•LPD
•Stagegate
•Design 6 σ
•FFFC
•Faster
(6x)
•Less Risk
(30-80%)
t
ar
Sm ill
K
Discover
Develop Deliver
22. Adding DEFINE & DISCOVER System
Increases odds of Success by 250%
Fuzzy Front End
DEFINE
DEFINE
DISCOVE
DISCOVE
R
R
Clarity on...
Death Threats
• Customer
• Problem
• Promise
• Proof
• Price
• Passion
• Purpose
• Math
Improve Confidence in
Uncertainties, Unknowns
DEVELOP
DEVELOP
DELIVER
DELIVER
Make it Real
Go to Market
1.Plan
Plan to address
Death Threat
4.Act
Apply
Revise
Stop
2.Do
Learn
3.Study
What learned?
GO / NO GO Decision
24. “Meaningful Uniqueness” means
Customers are willing to pay
more money for your offering....
Your Product offering
Your Service offering
You as an Employee offering
30. A New Field of Study - 48 Skills
IE Minor, Grad Certificate, IE Black Belt Certification
CREATE
1. Meaningful Uniqueness
2. Stimulus & Diversity
3. Drive Out Fear 1.0
4. Stimulus Mining Fundamentals
5. Tech Mining - Patent 1.0
6. Advanced Mining
7. Create Session - Spark Decks
8. Mechanical Thinking System
9: Create Session Customization
10. Lateral Thinking Systems
11. TRIZ
12. Problem Solving Session
COMMUNICATE
1. Customer & Problem
2. Benefit Promise
3. TRUE Proof
4. Clarity
5. Complete Ideas
6. Ideas to Paper
7. Advanced Benefit Promise
8. Secondary Proof
9. Patent 2.0
10. Communication Translations
11. Proactive Selling
12. Meaningful versus Mindless
Marketing
COMMERCIALIZE
SYSTEMS
1. Drive Out Fear 2.0
1. Preparing for a Create Session
2. Fermi Estimating
2. Leading a Create Session
3. Cost & Price Estimating
3. Project Coaching
4. Forecasting
4. Management Coaching
5. Business Models
5. Patents 4.0
6. Patent 3.0
6. Advanced Insight, Tech Mining
7. The Development Process
7. Cultural Change Systems
8. Plan, Do, Study, Act
8. Forensic Analysis for Root Causes
9. Death Threats First Steps
9. System & Departmental Integration
10. Fail Fast, Fail Cheap Prototypes 10. Innovation Supply Chain - Inside
11. Simultaneous Engineering
11. Innovation Supply Chain - Outside
12. Making GO/NO GO Decisions
12. Proactive Leadership
31. 2 Key Tools that Drive the Process
BlueCard
LEADERSHIP Leads by
defining Very Important
Opportunities and Systems to
be addressed
YellowCar
Those“Closest to the Work”
d
Define & Discover
Meaningfully Unique Solutions
to fulfill the Mission
WHA
T
WH
Y
WE NEED
WE NEED IT
HOW
TO FULFILL
32. 3 Key Roles that Drive the Process
Project Leader
The “Energy Source” and Leader of each
Innovation Project.
Management Coach
The Organizational Navigator
for the Innovation Project.
Process Coach
The Innovation Engineering Black Belt who keeps
IE Discipline throughout the Process
33. 3 Key Meetings that Drive the Process
WEEKLY
PROJECT Coaching
To Increase Speed
& Decrease Risk
•Define
•Discover
•Develop
•Deliver
MONTHLY
QUARTERLY
PROCESS Review
Review What
We Have Learned
•Review Strategy /
•On Process
•On Projects
•Review Pipeline per
PIPELINE Review
Revise Blue Cards
Blue Card
•Review Green & Black Belt
Certification Status
34.
35. TYPICAL JUMP START
CREATE
COMMUNICATE COMMERCIALIZE
1. Stimulus Mining
1. Customer Problem
1. Do the Math
2. Diversify Thinking
2. Benefit Promise
2. Action Plan
3. Drive Out Fear
3. Product/Service Proof
3. Fail Fast, Fail Cheap
Pre-Work Stimulus Mining 12:30-2pm Refine Present
& Select Ideas
8-12pm Creative Exercises
Morning
2-3pm Training & Numbers
3-5pm Action Planning
Afternoon
39. 5 Categories for Stimulus
Mining
1
1
3
3
2
2
4
4
TECH Mining Market Mining Insight Mining Future Mining
Fast & Easier to Find
Harder & Deeper
Thinking Involved
+
5
5
“Gut Instincts and Ideas”
2 ho
u
sess r
ion
40. Using Voice of the Customer Research
for Ideas, Insights, and Opportunities
Insight
Mining
•
Connect with customers and non-customers,
read blogs, forums, and news posts about your
company or industry at large.
How customers are using, misusing, and
adapting to our offering
www.digg.com
www.boardreader.com
www.google.com/blogsearch
41. Benchmarking versus the Marketplace and
Competitors for Ideas and Inspiration
Market
Mining
Compare your offering with alternatives; Borrow
Brilliance from non-competitors in different industry
sectors or countries
What we are searching for...
Explore how competitors in other cities,
states, countries market similar services
• What do they promise customers?
• How do they package / price their offering?
• What do they communicate to build credibility?
Explore how different industries have
excelled at delivering personilization
• What do they promise customers?
• How do they package / price their offering?
• What do they communicate to build credibility?
Search for Patent and
Trademark Filings by
Competitors
◦
◦
◦
◦
Go to freepatentsonline.com
Click on Search
Click on Quick Search
Scroll down to "Assignee". List a
Company Name
43. For Insight and Market Mining, surveys
can be easy and free
Market
Mining
Tradeshows: Walk the floor
44. Leverage Facts & Innovation Assets from
Inside and Outside your Organization
TECH
Mining
Mine for new technologies, potential partners,
academic research, inventor expertise.
What we are searching for...
Search for academic articles and wisdom at
www.Scholar.google.com
•Looking at psychology and decision making, shopping behavior
•What does the latest research tell us about people interacting with technology?
•Are there studies about moments of joy and happiness
Search for technology and expertise that we could leverage or connect
to
•www.TechMining101.com
•www.Google.com/Patents
•USAInnovation.org
links to high-tech technologies
good for USA patents
good for business ideas
•www.FreePatentsOnline.com
good for International patents
50. Stretching Minds to Anticipate the
Future
Future
Mining
Explore trend forecasters, read industry news,
connect to Lead Users, Industry Experts
What we are searching for...
Anticipating the Future:
• What market segments do you see becoming much bigger over the next 5 years?
• Where do you see technology going 5 years or 10 years from now?
• What regulatory, raw material and other operational challenges do you see in the
next 5 to 10 years?
Read about MEGA SHIFTS that could have an impact
Start with simple GOOGLE searches on identifying trends
• Example Search: Trends in Customer Personalisation
• Example Search: Trends in Privacy Regulations Online
• Example Search: “Customer Name” Trends
• What are our customers are saying about the future, how will their behavior
change? - trendwatching.com
www.google.com/trends
www.trendwatching.com
www.ted.com
www.futurist.com
51. Every month a new briefing on trends
on trendwatching.com
Future
Mining
Are you
watching
the
major
transformations
or just
the
piddly
stuff?
52. Diversity
Diversity Is Your
• Frame of reference
• Point of view
And Is Influenced By Your
• Life Experiences
• Functional Job Area
• Optimism/Pessimism
• Personal Thinking Style
• Education Experiences
THE MORE YOU HAVE, THE MORE YOU HAVE.
54. DIFFERENCE VS WORLD CLASS
Concern
(-15 or less)
Caution
(-14 to -6)
Readiness to CREATE
-13%
Agreement with NEED to accelerate Innovations
URGENCY for company to take action
-16%
Company success with innovation
-26%
Company's Attitude Toward taking action - courage
-24%
Thinking Style (minus = Left Brain)
-45%
Creativity and innovation rewarded
-25%
Optimism towards taking action
-29%
NOTE: Shared with CEO in advance
Good
(-5 or over)
55. DIFFERENCE VS WORLD CLASS
Concern
(-15 or less)
Caution
(-14 to -6)
Good
(-5 or over)
Readiness to Execute
Sufficient resources to get the job done
People I work with cooperate to get the job done
-17%
-9%
-16%
High level of respect for senior leaders
-0%
Talents are used well
Overall quality of work done
-13%
-2%
Place to Work
NOTE: Can measure over time
56. Create
EVERY VALIDATED & RELIABLE
METHOD for CREATING
INNOVATIONS
Genrich Altshuller
Andy VanGundy
Doug Hall
Edward DeBono
Alex Osborn
George Prince
Tony Buzan
64. Marines’ heavy-lift helicopter fleet
•
In 2013, the Marine Corp is expected to begin taking delivery of the new
Sikorsky CH-53K, which will provide the backbone of the Marines’ heavy-lift
helicopter fleet. The CH-53K features Sikorsky’s performance-enhancing fourth
generation anhedral composite rotors and a hybrid composite/metal fuselage,
enabling the aircraft to lift roughly 36,000 lb of cargo.
•
While the aircraft’s design and manufacturing details are still carefully guarded,
estimates are that advanced composites will make up more than 80 percent of
its structural weight. Initial operating capability is expected in 2015, with four
aircraft per detachment.
•
The Marine Corps is expected to purchase 156 CH-53Ks between 2013 and
2021 at a total cost of more than $14 billion.
65. Vacuum infusion
Process
•
The latest version of the Boeing composites technology is called
Pultruded Rod Stitched Efficient Unitized Structure (PRSEUS).
"This is completely reinventing how a composite structure is
designed and manufactured," says Harber. One of the keys is a
vacuum infusion process in which a minimal amount of resin is pulled
into a tool to cover the fibers.
Another key to the use of PRSEUS is use of a pultruded rod attached
to the skin as a stiffener. This could eliminate the need for thousands
of fasteners on an entire aircraft. Pultrusion is a process dating back
to the 1950s in which composites are pulled through a heated die,
creating a very strong linear shape.
66. FRP Composite Wall Panel with
Enhanced Action and Method
of Manufacture
•
Researchers at the University of Utah have developed a composite wall
panel with increased shear resistance and axial load capacity. The wall
incorporates (FRP) cages into the composite wall panels that secure the
layers of the panels against multiple forces, including shear.
Typical composite panels have two major disadvantages. First, they
have a very small shear resistance. Most of the shear of a typical
sandwich panel occurs in the middle third of the panel where the
insulation layer lies. The second
•
disadvantage is that they cannot be used
•
in load bearing and structural applications.
67. A Team Builds
Composite Space
Capsule with Future
• in Mind
NASA Engineering and Safety Center (NESC) established a
team of structures experts to gain experience in using
composites and suggest an alternative approach for future
spacecraft designers.
NESC’s nationwide government-industry team tackled a
challenging assignment: Build the internal, primary structure for
a space capsule like the Orion crew module that NASA is
developing for a 2020 return to the moon, but make it out of
composites.
Could we lend a
hand?
68. UAV
Composites have evolved into a major role in all types of
aerospace applications. Nowhere has the growth been faster than
in Unmanned Aerial Vehicles.
In both military and civilian applications, UAVs are used for
observation, photography, communications, and as weaponsdelivery platforms. Whether it is a Predator drone or a handlaunched ultralight observation craft, strength, weight, and cost
are all critical.
71. Overtly, Directly
“Break the Laws”
• All companies/organizations end up with a
set of “laws.”
• Things we NEVER DO and ALWAYS DO
72. Task: Ideas for Improving the
Operational Processes for a Coffee Shop
Lawbreaker
1.
INDIVIDUAL
2.
PAIR
List Absolute Laws & Truths
Individually, list things that we always/never
do.
Always
1.
Never
4.
Boldly Break the Laws
Roll Die or randomly Pick a LAW
3.
Idea Engineering
TEAM
Share Your Idea
Write Ideas and Advice From Team
With partner, think of possibilities that
break the law.
2
Law # ____
Always make
espresso and
cappuccino coffee
drinks to order
Never stay open in
the evening as
people don’t buy
coffee late at night.
What if we….
Or what if we….
2.
5.
Always use
Never provide
disposable cups and table side service.
lids with take out
customers.
Invite customers to
bring their own cup,
whatever size, and
we’ll fill it up for a
fixed price. (we save
on disposable hassle
and waste.
6
Law # ____
What if we….
3.
6.
Always have one
person take the
order and another
make the coffee
drink.
Never reuse old
coffee beans.
Or what if we….
Donate old beans to
the botanical gardens
‘Give back for Green’
program - get a tax
credit.
Jot
down
ideas
and
advice
here
4.
Industrial
Strength
INVENTING
INDIVIDUAL
Capture Best Ideas
on YELLOW CARDS
73.
74.
75.
76. •Po…There are no books
•Po…Students teach the Professors
•Po…There are no exams
•Po…There are no classrooms
•Po…MBA is free in return for….
81. Pick an idea that you LOVE
AND makes sense for
the Company
82. Clarity!
Think Deeper on Each Dimension
1. Customer Problem
2. Promise a Benefit
3. Provide Proof
83. GOLDEN RULE OF CLARITY
Let a customer say NO because
what you offer doesn’t apply to
them.
But NEVER let a customer say
NO because
they don’t understand
what you’re offering.
84.
85. Key Concept:
Overt Benefit PROMISES
solve PROBLEMS
Target
AUDIENCE
Benefit
PROMISE
“who”
“what”
has a Problem
is in it for that
customer
94. Product / Service Proof
You DOUBLE your odds of Success when you
Communicate REAL PROOF
That you can deliver on your Benefit Promise.
Real Reason To Believe
Low Level Proof
Medium Level Proof
High Level Proof
Probability of Success
18%
29%
42%
98. Test Results
In an independent, blind test,
frequent business travelers
rated the Sony NC500D
headphones #1 twice as often
as either the Bose® QS™ or
QC™ 3 in overall noise
cancelation and audio quality.
102. Pedigree
Scotch Whisky
Uses Source Pedigree
Moss water, passing
over rocky falls, steeped
in mountain air and
moorland peat ...
15 Years Old
Exclusively Matured In
Sherry Oak Casks
107. To: who is the customer, Final
Decision Maker?
Subject: Idea in one sentence
Are you frustrated with - What
customer problem are you addressing?
Introducing - name suggestive of
the Benefit
Type of Product /
Service / Process.
To Promise- offer a specific,
numeric claim
Here’s How it works - Tell us
how the product or service works,
step by step.
Added Credibility - test results,
testimonials, guarantees,
demonstrations
Value and Cost - Initial guess
at unit cost.
Why do you love it?
108. Pitch Sheet Reminder
Use COMPLETE sentences.
Be sure to use complete sentences.
Please use complete sentences.
I beg you, use complete sentences.
Complete sentences are essential.
Let me be clear... use complete sentences.
109. Refine and Present
1.
2.
Passion Drives 60 Second Clarity
Success
3.
Pitch Your
Idea
Each person will read their Pitch Sheet aloud
115. The Goal of Fail FAST Fail CHEAP
To Make the
Unknown Known
116. “94% of failures are
due to the SYSTEM
6% are due to the
worker”
A Systematic Approach to Commercialization...
117. 4 Principles of the
Commercialization System
1. Focus on Biggest Death Threats
2. Fail FAST Fail CHEAP
3. Simultaneous Engineering
- Concept + Math Game Plan
4. Passionate Volunteer
118. Focus on Biggest Threats First
Turn KILLER Threats
Into Manageable Threats
1. Plan
What Death
Threat?
4. Act
Apply
Revise
Stop
KILLER
Death Threat
2. Do
Learn
3. Study
What learned?
Manageable
Threat
119. Focus on Biggest DEATH Threats
Most Common in Early Stage Development
Does the Customer Care?
- Does it solve a real problem?
- Is the benefit something people want?
Will it Work?
- Can we feasibly deliver the benefit?
Can we Make Money?
- Will the customer pay for the benefit?
- Will the business model produce a profit?
120. Options for Uncertainty PROBLEM
“Proper & Mature”
Business Innovation
System
Fail FAST - Fail CHEAP
Dissolve Risks with Small Steps
Expensive & Slow
1. Plan
1. Plan
4. Act
2. Do
1. Plan
4. Act
2. Do
3. Study
2. Study
2. Study
2. Study
2. Study
1. Plan
2. Study
2. Study
2. Study
2. Study
2. Study
2. Study
2. Study
2. Study
4. Act
3. Study
1. Plan
2. Do
3. Study
4. Act
2. Do
3. Study
121. Fail FAST Fail CHEAP
Small Steps
That Can Be
Completed in
7 Days
1. Plan
What Death
Threat?
4. Act
Apply
Revise
Stop
2. Do
Learn
3. Study
What learned?
To Build Momentum
World Class = 1 Hour Cycle
122. Only USE
Fail FAST Fail CHEAP
If the idea is really
MEANINGFULLY UNIQUE
and thus “high uncertainty”
Otherwise - just do it or kill it
123. Fail FAST Fail CHEAP Methods
Dig for Make it
WISDOM REAL
Data & Research Dig
Technology & Patent Dig
Inventor & Expert Dig
Feel the PAIN (Problem)
Fast “Works Like” Prototype
Fast “Looks Like” Prototype
Do the Ask for
NUMBERS ADVICE
Fermi Estimate Sales
Fermi Estimate Cost
Reduce Uncertainty
Innovation Supply Chain
Customer Feedback
- Problem
- Idea / Product
- Concept
- Feedback
Session
130. TODAY’S PURPOSE
To create, select and
refine meaningfully unique
ideas for SUNY Albany
weekend MBA program
(EXAMPLE)
Note: No mining from participants
135. Trends
•
Apple’s App Store currently
offers 9,000 mobile health
apps (including nearly 1,500
cardio fitness apps, over 1,300
diet apps, over 1,000 stress
and relaxation apps, and over
650 women’s health apps) and
by mid-2012, this number is
expected reach 13,000
(Source: MobiHealthNews,
September 2011)
How could this change our processes?
MBA aps? How could we integrate?
147. DIY
•
Saad tapped into existing social and professional networks to write an 18-month
plan for what he dubbed the Leap Year Project--a series of 12 business
apprenticeships in the course of 12 months, he told Inc.
•
His "leaps" consisted of month-long partnerships with designers, architects, nonprofit administrators and entrepreneurs--professionals with experience in his
desired areas of focus, design, and social enterprise. Saad approached them
each with this proposal: I will come into your company for one month, identify
any gaps in operation, and apply my skills to help you close those gaps.
148. http://expinstitute.com/
Reinventing the classroom.
Experience Institute is a 12-month higher education program that partners with companies, creative
workshops, and conferences to place students within real world learning experiences.
Our mission is to establish experiences as a valuable & credible form of higher education and to
equip self-starting individuals with the tools necessary to transform our world with an inventive spirit.
153. VOC
“Maybe split the program up into 2 or 3 programs that
focus on a more specific audience... on markets or
industries instead of general functions... maybe like an
exec MBA that focuses on high growth industries /
markets.”
“Partner with a foreign MBA program where you
are linked with another cohort that you can share
ideas, do projects together... they would be on
the same timeline... graduate together, maybe
even do international trip to that school's
country,
154. The Best International Business
MBA Programs
•
Thunderbird School of Global Management
•
Thunderbird School of Global Management calls its
international business MBA the MBA in Global Management.
U.S. News and World Report ranks Thunderbird as Number
1 on the rankings for international business MBA programs.
Students at Thunderbird are required to choose a 12semester-hour focus area in global development,
entrepreneurship, finance, management, marketing or
design your own. Students must also study a second
language and have access to study abroad and exchange
programs.
What could we
do?
155. Online MBA
“The self designed
specifications are perfect
for students who have
very specific professional
goals in mind”
Should we tailor?
160. Are we teaching the
right stuff?
•
•
“Business school
stakeholders largely agree
with practicing managers
that human capital
competencies are among
the most important to be
trained within MBA
programs”
“if MBA programs do in fact train future leaders and not
managers, where are all the courses dedicated to
leadership”
162. World’s 50 Best Business
School Professors
by Andrea Carter
•
The list includes famous superstar professors, such as Harvard’s Clayton
Christensen, Wharton’s Jeremy Siegel and Stanford’s Jeffrey Pfeffer, as well
as faculty little known outside their schools or fields of study, such as operations
maven Michael Trick at Carnegie Mellon or finance expert Dana Muir at
Michigan’s Ross School of Business. Some 12 of the 50 are women, while nine
are Indian, including Dartmouth’s Vijay Govindarajan, the innovation guru at the
Tuck School, and NYU’s Aswath Damodaran, the self-effacing master of
finance at the Stern School.
163. Most Popular profs at Top
business schools
•
To determine which professors at the Top 30 U.S. full-time MBA programs were
most popular, Bloomberg Businessweek used surveys sent to 2010 graduates
asking them to identify their two favorites.
1. Aswath Damodaran
Finance professor at New York University Stern School of Business
A seven-time recipient of Stern's "Professor of the Year" award, Damodaran
practices open-source teaching, posting almost all his class materials on his
blog. He's also one of the few business school professors to have inspired a
tribute video on Youtube; the video spoofs pop star Justin Bieber's Never Say
Never movie trailer. In the 89-second clip, the handiwork of a student,
Damodaran proclaims "I want to be the Lady Gaga of finance." He has more
than 4,000 followers on Twitter.
168. Contact info:
Donald J Wiesenforth
Assistant Director of Innovation
Albany Medical Center
43 New Scotland Avenue
C-635
Albany, NY 12208
wiesend@mail.amc.edu
office: (518)-262-1655
cell: (518)-813-1460
Editor's Notes
it means companies make more money. In 2010 Georgia Tech found.....
Furthermore, employees of companies who innovate....blah blah blah
Innovation creates wealth for everyone.
Stimulus Response
• There is a better way....we call it Stimulus Response
• Instead of using your brain like a library use it as a processing tool
- Feed your brain with stimulus
- When stimulus enters it sets off a chain reaction of connections and associations
• In the arts stimulus has been used for inspiration for thousands of years
- The wonders of nature to the painter
- The beauty of the human face for a sculptor
- The wonders of the wilderness for the poet
- All look for inspiration for their work
• Similar trait done by designers today
- Jim Henson toured the Metropolitan Museum for inspiration for new puppets
- Nike outdoors designers use military gear as outdoor inspirations
- Not copying.....rather using it as stimulus to prompt the mind
Gut instincts is how we take action, how the stimulus “speaks to us”
Add a fourth column for what would completely disrupt your industry? 10x improvement? 20x improvement?
Quick summary of the sites
Note score
The inventor name may be the most important data on this publication…he can help make a 75% fit into a 100% fit
My favorite mining…disruption occurs when people ignore or misjudge the timing of the future
www.trendwatching.com look for the major trends,
Whole Ideas:
- Overt Benefit
- Real Reason To Believe
- Can be produced, distributed and sold at a profit
Original:
- Dramatic Point of Difference
Wicked Easy to Understand:
- 30 Second commercial gives you about 70 words
- 10 second commercial gives you about 20 words
- Internet Banner gives you about 6 words
! Provide Magic
- This is the indefinable
- It’s what generates “Hall Talk”
- New Beetle......I Mac......
- Ben & Jerry’s Cookie Dough Ice Cream when introduced
NEEDS WORK....NEEDS BETTER EXAMPLES
WINNERS
- Overall AcuPOLL® Grade of A or B
- 69% chance of > than threshold Purchase trial rate (10%)
LOSERS
- Overall AcuPOLL® Grade of C, D or F
- 11% chance of > than threshold Purchase trial rate (10%)