Lets talk innovation

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see what constitutes innovation, differentiates and innovations around you!

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Lets talk innovation

  1. 1. Lets talkInnovationBy- Arjun Mathur
  2. 2. What can you learn from this?• What innovation is• Why it’s important• The types of innovation• The degrees of innovation• What’s stopping us?• Some examples• 10 words
  3. 3. What is innovation?"The intersection of invention and insight, leading to the creation of social and economic value."
  4. 4. Innovation is the thing that separates a leader from a follower!
  5. 5. Why is it important?
  6. 6. An innovation can increase profitson the value side (customers valuean innovation enough to pay more for it) . . .
  7. 7. . . . or the cost side (the company produces a product offering in a more efficient way). Either way, value is created for the firm and the consumer.
  8. 8. The famed New York Times columnist, ThomasFriedman, wrote a column in which he said Americaneeds more jobs—Steve Jobs. He meant that innovationand creativity must be nurtured and encouraged to helpthe countries emerge from the global recession.
  9. 9. An invention is different from aninnovation at any particular time in that it doesn’t have commercial value but . . .
  10. 10. . . . it may have in future.
  11. 11. Think of invention as the laying of an egg, innovation as the laying, incubation and hatching. Now there is no shortage of ideas and inventions in the world. The challenge is to introduce these successfully to a market.Only then can the idea/invention be called an innovation……..
  12. 12. Why is innovation important?
  13. 13. Innovation reduces waste and environmental damage.
  14. 14. Innovation creates growth, increases productivity, and economic wealth (avoids stagnation).
  15. 15. Innovation provides better goods and services at a cheaper price – higher standard of living.
  16. 16. More interesting work for employees.
  17. 17. Old strategies get replicatedand, consequently, margins get squeezed.
  18. 18. Survival!
  19. 19. What are the essential ingredients, orelements, of an innovation ecosystem? A better world Shedding status quo Rise and fall
  20. 20. What are the types of innovation?
  21. 21. Numerous types . . .
  22. 22. . . . but all these labels just describe where something new, better or different occurs.
  23. 23. BROADLY:  Product  Process  Service  Business model  Value  Market
  24. 24. . . . and many more, depending onlevel of detail. Basically, innovation can occur anywhere in the firm’s business by anyone. We all have great potential!
  25. 25. StructuredUnstructured Open
  26. 26. The degrees of innovation.
  27. 27. Once again, many labels . . .
  28. 28. . . . however, they all describe the degree of change required by theinnovating firm and/or the market.
  29. 29. IncrementalSemi-radicalRadical
  30. 30. Some cool Innovations!
  31. 31. So what’s stopping us?
  32. 32. Wrong sense of Lack of financialentrepreneurship support Unfriendly curriculum
  33. 33. How To BeInnovativethen?@##!!
  34. 34. Optimism PassionPerceive EmbraceOpportunity ExperienceAttitude ReboundFocus Thrill
  35. 35. “Don’t be someone who asks “what happened?”— make things happen. Change yourattitude, and you’ll find that things really canimprove. The year ahead is full ofopportunity, and it’s yours if you want it! ”

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