Ron Johnston , Executive Director of the Australian Centre for Innovation
Watts Humphrey – author of numerous technical and management books including Managing for Innovation: Leading technical people
Theodore Levitt – former editor of Harvard Business review and trend setting book Innovation in Marketing ( 1962)
Focuses on improving what already exists. Requires minimal investment since innovation builds upon existing products and services. Focuses mostly on cost savings, efficiencies or expanding service. Barriers to success are low.
Efficiency Innovation Examples: Extending hours or service, Changing production line to accommodate more widgets Developing a new method to standardized systemwide reporting. = Improving on what already exists http://www.flickr.com/photos/scottobear/2318837083/ http://www.flickr.com/photos/da5ide/456847031/ http://www.flickr.com/photos/irinaslutsky/519317305/
“ _________ “ is the mother of invention http://www.ohdeedoh.com/uimages/ohdeedoh/2008-07-24-aesop.jpg
Impacts on innovation? Efficiency Innovation Evolutionary Innovation Revolutionary Innovation Discovery of a new market Change in demands of current market Change in ability to support current market