The Business Of Innovation

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    Notes on slide 1

    Introduce yourself Working with over 700 tech companies over the last 2 decades – what did you see Your personal transition from intrapreneur to entrepreneur CorePurpose Evolution AZ tech Council – Stevie Awards

    Define innovation

    The people give us their money Customers & Investors The people who allow us to make money Partners & Employees

    Granpa’s story What happens when you refuse to accept a change Being too stubborn to listen Being too close Grandpa learned with Polaroid

    TGEN Grand opening was today - Ways to make it better Easier Faster Smaller Save time Save money Live longer Liver better

    This question does not have a straightforward answer. The history of the automobile is very rich and dates back to the 15th century when Leonardo da Vinci was creating designs and models for transport vehicles. There are many different types of automobiles - steam, electric, and gasoline - as well as countless styles. Exactly who invented the automobile is a matter of opinion. If we had to give credit to one inventor, it would probably be Karl Benz from Germany. Many suggest that he created the first true automobile in 1885/1886.

    Henry Ford did not invent the automobile. Ford’s early innovation: The Dream Becomes a BusinessFord Motor Company entered the business world on June 16, 1903, when Henry Ford and 11 business associates signed the company's articles of incorporation. With $28,000 in cash, the pioneering industrialists gave birth to what was to become one of the world's largest corporations. Few companies are as closely identified with the history and development of industry and society throughout the 20th century as Ford Motor Company.As with most great enterprises, Ford Motor Company's beginnings were modest. The company had anxious moments in its infancy. The earliest record of a shipment is July 20, 1903, approximately one month after incorporation, to a Detroit physician. With the company's first sale came hope—a young Ford Motor Company had taken its first steps.Mass Production on the LinePerhaps Ford Motor Company's single greatest contribution to automotive manufacturing was the moving assembly line. First implemented at the Highland Park plant (in Michigan, US) in 1913, the new technique allowed individual workers to stay in one place and perform the same task repeatedly on multiple vehicles that passed by them. The line proved tremendously efficient, helping the company far surpass the production levels of their competitors—and making the vehicles more affordable.The First VehiclesHenry Ford insisted that the company's future lay in the production of affordable cars for a mass market. Beginning in 1903, the company began using the first 19 letters of the alphabet to name new cars. In 1908, the Model T was born. 19 years and 15 million Model T's later, Ford Motor Company was a giant industrial complex that spanned the globe. In 1925, Ford Motor Company acquired the Lincoln Motor Company, thus branching out into luxury cars, and in the 1930's, the Mercury division was created to establish a division centered on mid-priced cars. Ford Motor Company was growing.

    Our values – People Acceleration Promises Excellence Results

    Entrepreneur comer from the french verb – to Undertake – I won’t try to say it – my accent is so bad – only french taxi drivers understand me What do you want to undertake Where do you want to innovate

    Starting CP – Are you Crazy????? In this month’s issue of Inc magazine they interviewed 26 very different entreprenuers. One was Richard Branson of the worlds most famous VIRGIN. Today Virging has over 350 separate companies – some big – some very small. Branson Quote – who has been a success who has never failed?

    An entrepreneur is someone who organizes, operates, and assumes the risk for turning an idea into a business venture while an intrapreneur is a person who does the same thing within a large corporation. In both cases, you take direct responsibility for turning an idea into a profitable organization or finished product through assertive risk-taking and innovation. The prefix before the “-preneur” simply shows where you are in the organization when you are driving change and growth. When I am at the helm of my own company – I am an entrepreneur. When working with clients – they have the ultimate responsibility and my job is to help them as the entrepreneur or intrapreneur. I like to think that as a “-preneur” you can make things happen – no matter what the structure of the organization you are in.

    Courage is moving forward even though you are afraid. If you are not afraid or concerned you are not innovating enough. True innovation is out there. -prenuers walk out on the limb

    Courage is moving forward even though you are afraid. If you are not afraid or concerned you are not innovating enough. True innovation is out there. -prenuers walk out on the limb

    Founder’s Fever kills more entrepreneurs and their projects than any other reason Taking on too much Not asking for or accepting help or advice Failure to delegate Like Machines, Yet World's Apart The success of the business is directly related to and completely dependent on the strength of the founder. It will live or die based on the founder's day-to-day participation. There is no long-term vision, no real planning and really no life for the business beyond the founder's. Martha Stewart Living – and Surviving Founders Fever Famous micro manager She was the brand Court – negative publicity – plunging stock Goes to jail New CEO Stock now 3x when she went in Sears/Kmart

    The trap of making it perfect – its never perfect – too often we wait and wait until the window of opportunity had gone We can have too much data – try to make it too perfect

    Avnet Story – lack of resources killed the project Santa will not bring you what you need and unless you can convince them of a retune neither will investors Do you have what you need to sustain yourself??

    Tim and David Mork – just starting out – What’s your exit strategy?

    For True innovators There is NO BOX

    Beware of Obedience based cultures – stifles creativity – yes people – safety – riskless –

    Preneurs are risk takers – that does not mean that they do not doubt only that they calculate the risk and accept it

    I’ve spoken to a number of companies and CEOs who want to create more innovation and –preneurial activities in their companies. The first thing I ask is as a leader are they ready.

    Community partnerships Strategic partnerships Supplier Partnerships

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    The Business Of Innovation - Presentation Transcript

    1. Entrepreneurs & Intrapreneurs The Business of Innovation Joan Koerber-Walker CorePurpose, Inc. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    2. Our Discussion
      • What defines innovation and innovators
      • Refining your Focus
      • Finding the "-preneur" inside of you
      • Creating a culture of innovation
      • Connecting the dots
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    3. What defines innovation and innovators? Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    4. Innovation = Doing something in a NEW way ... To make life BETTER ... For the PEOPLE that matter Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    5. Who are the People that MATTER? Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    6. Innovation = Change Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    7. Innovation = Improvement Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    8. Innovation = Daring to be Different
      • Low fares everywhere
      • 20 minute turn arounds
      • Peanuts
      • First Airline Website
      • Ticketless Travel
      • FUN
      • 31 Years of Profits
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    9. Henry Ford did NOT invent the Automobile An early Benz automobile. Photo courtesy of Vintage Web Classic Cars Picture Archive. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    10. Invention is NOT Innovation Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    11. Refining Your Focus Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    12. Your Passion Your Strengths What makes Financial Sense Values Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    13. Finding the "-preneur" inside of you Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    14. "He who lives without folly isn't so wise as he thinks." François, Duc de La Rochefoucauld Soldier, Statesman, Author Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    15. It’s a matter of Business Geography
      • Entrepreneur - someone who organizes, operates, and assumes the risk for turning an idea into a business venture
      • Intrapreneur - a person who does the same thing within an existing company or organization.
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    16. “ Whenever you see a successful business, someone once made a courageous decision” Peter Drucker Writer, Teacher, Consultant Copyright 2005 CorePurpose, Inc. .
    17. Dread Diseases that can be fatal to “-preneurs” Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    18. Stay Clear of Founder’s Fever Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    19. Analysis Paralysis Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    20. “ Trust yourself. You know more than you think.” Dr. Benjamin Spock Author, Educator, Pediatrician Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    21. Capital Deprivation Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    22. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    23. Creating a culture of innovation Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    24. Once you move beyond boundaries... the possibilities are limitless. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    25. “ Never underestimate your power to change yourself; never underestimate your power to change others” H. Jackson Brown, Jr. Author Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    26. How to encourage innovative “-preneurs”
      • Set Clear Direction
      • Lead by example
      • Hire/Fire for Values
      • Communicate Openly
      • Communicate Often
      • Listen Actively
      • Be open to new ideas
      • Avoid closing doors too early
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    27. How to Crush them
      • Forget to listen to the whole idea
      • Fall prey to NIH
      • Counter too quickly
      • “ Didn’t work when we tried it before”
      • Concentrate on the reasons why not
      • Restrict the resources they need to succeed
      • Forget how to “Get to Yes”
      • Limit Praise
      • Be too busy to celebrate success
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    28. “ The only limits to our realization of tomorrow will be our doubts of today.” Franklin D. Roosevelt 32nd President of the United States Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    29. Challenges of Leading Teams of “-preneurs”
      • It’s much easier to lead followers than to “-preneurs”…
      • They challenge the status quo.
      • They challenge you.
      • They move toward the direction you point, but they may not see the same path you do.
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    30. “ Never teach a pig to sing. It wastes your time and annoys the pig.” Paul Dickson Author, Journalist Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    31. Connecting the dots Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    32. A culture of innovation has everyone plugged in. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    33. Using FAME to Build Success Customers Investors Partners Familiarity/Accessibility/Security Ease of Doing Business Mind Share Awareness of Opportunity Employees Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    34. Partnerships help us move from Invention to Innovation Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    35. We come from different directions to achieve a common goal. Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    36. “ Well done is better than well said .” Benjamin Franklin Statesman, Inventor, Entrepreneur Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    37. Successful Innovation
      • Traditional Success Predictors - speed to market and level of marketing support for new products
      • Focusing on the Idea
        • by its newness
        • by the source of the idea
        • by its primary advantage for consumers.
      Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
    38. Innovation makes an IMPACT Employees Customers Partners Investors The World Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
      • When distractions blur the vision…refocus
      • When doubt clouds the vision…enlighten
      • When fear of failure threatens…courage
      • When guidance is needed…lead
      • When teamwork is needed…trust
      • When the goal is within reach…refine, innovate, and reach farther…
      • Joan Koerber-Walker
      A Recipe for Sustaining Innovation Copyright 2005-2009 CorePurpose, Inc. CorePurpose ® is a registered service mark of CorePurpose, Inc.
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