Innovation Strategy


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  • IRR -> Internal return rate You can think of IRR as the rate of growth a project is expected to generate.
    NVP -> Net present value>0 NPV compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account. 
    Depreciation rate
    Project future cash flows
    Profit Margin
    Return on Assets
    Growth rate
    M&As rations + Financial statement
  • Offer Luxury or exclusive good
  • Psigeia
    Apokleismos mikron
  • You will stay more to be creative / You will have some time to be creative in week /This month we will be creative
  • OT1. There is atmosphere for honest cooperation among employees.
    OT2. Clear expectation connected with results and aims from all employees.
    OT3. Employees are willing to share knowledge.
    OT4. Employees openly admit and take responsibility for their mistakes.
    OT5. Employees avoid participating in gossip and unfair criticism of others.
    OT6. Employees are willing to take part in trainings.
    OT7. Periodic meetings take place between employees and the management.
    OT8. In general the work responsibilities are established and clear.
    OT9. The criteria of promotion are clear in every position.
    OT10. Evaluation of employees is fair.
    OT11. The relationship between employees is good.
    OT12. All employees are treated fairly
    OT13. The interests of workers are taken care of.
    OT14. Team work is encouraged and preferred.
    OT15. Employees are encouraged to take part in decision-making.
  • Know who to ask
  • fail
  • Creative people
  • Innovation Strategy

    1. 1. Innovation Strategy George Panagopoulos
    2. 2. Blue Ocean – Red Ocean
    3. 3. To lead or to follow? First Mover Late Mover Experience curve benefits Free riding Reputation Learning Pre-emption of scare resources First Mover Late Mover The products do not have obvious advantage to consumer Lower quality – Bigger volume Small market share – Big price Danger for replication High risk + -
    4. 4. Ambidexterity What is ambidexterity? – To exploit current capabilities and explore future opportunities Where technology is put? – At the beginning or at the end of the production? Why different sectors might be more intensive? – i.e. ICT Industry Vs Petrol Industry
    5. 5. How can an organization become ambidextrous? Knowledge Produced (papers, patents) Product range Organizational structure – Unit based ambidexterity – Partner based ambidexterity (Clustering) • sequential • reciprocal
    6. 6. Dimensions Financial strategy Product Development Selling Strategy Business Strategy Change Strategy Knowledge Management
    7. 7. Financial Strategy Investment 1 High Risk Investment 2 Very High Risk Investment 3 Medium Risk Investment 4 Small risk The aim is to minimize the risk of the portfolio
    8. 8. Product development strategy
    9. 9. Valley of death
    10. 10. Selling Strategy- 3 types of customersCostSensitive • He likes words such as automation, efficiency, cost saving productivity • He must understand well how he gains money TechnologyGeek • He understands well the technical specs • He needs to feel exclusive (VIP – unique customer) Opportunityinspector • He does not understand a lot but he does not want to be obsolete • He needs support (study papers, demonstratio ns etc.)
    11. 11. Tips for selling 1) Use sales people - Frequently in high-tech startups senior researchers become sellers and juniors take their position 2) Use analogues to make your products understandable - They used to say computers are advanced typewritters 3) Be aligned to customers’ procedures - E.g. A BI system not connected with ERP 4) Think like the investors – Quantify with excel ! – IRR – NVP
    12. 12. Business strategy – When do I have Competitive advantage? 1. When I can set barriers for entrance in the market (Patents/industry standards/government policy) 2. When I can buy in good price (Degree of dependency upon existing channels of distribution / Number of sellers) 3. When the buyer does not have many alternatives (loyalty programs-benefits/Switching costs/brand) 4. When my product can not be substituted (e.g. Masticha Chiou) 5. When I make the competition irrelevant (differentiating, Technology)
    13. 13. Business Model Tool ( )
    14. 14. Creativity Creativity needs time – How you find time to be creative? ( Open Culture – Psychological Safety – Trust – Knowledge integration
    15. 15. How can we get an indication about psychological factors ? * The above items are samples and can not be used to produce scientific results Factor Question 1 2 3 4 5 6 7 Creativity My coworkers are almost always supportive when I come up with a new idea about my job Psychological Safety When someone in our company makes a mistake, it is often held against them Trust Employees avoid participating in gossip and unfair criticism of others Knowledge integration The members of this team synthesize and integrate their individual expertise at the project level. Rate the following statements from 1 = Strongly Agree to 7=Strongly Disagree
    16. 16. What is needed to produce new knowledge You need fast and slow learners You need both senior and new employees You need to have turnover
    17. 17. Knowledge Management Strategy Actors Explicit Knowledge Tacit Knowledge Technician Technical directions Culture in the organization Seller Customer History How to understand the customers RnD Employee Experimental data HR Employee Staff skills
    18. 18. Knowledge Management Tools Best practices database – These are databases of information that are retrieved from people who have already tackled a problem and found a solution. Expertise Location – This is a database which provides a way to locate an expert or expert information. Communities of Practice – These are groups of individuals who discuss problems, opportunities, lessons learned and other information gained from users.
    19. 19. Change Management Strategy Why changes might occur? – Innovation adoption might mean changing the way of work ( How will people react? – Good/Bad/Silently Tips about the change process – You need open culture – You need management commitment and vision – You need to set targets and measure the performance – How should the training be done? • You first train the middle managers & the influencers
    20. 20. Change Management Tools Posters Story boards Interviews Management Styles New Job descriptions Opportunity to apply for new Jobs Review of past Changes Meetings
    21. 21. Team Formation – Belbin Test
    22. 22. Books Suggested Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant Why People Fail: The 16 Obstacles to Success and How You Can Overcome Them The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers