On October 23rd, 2014, we updated our
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1. What innovation secret did China apply to become America’s number one economic challenge?
2. What Innovation strategy is South Africa applying to be dominating the business market in Africa?
3. Why is UNILAG highly commercial than other Nigerian universities?
4. What does GTB have more youth trudging in to open accounts than other banks?
5. Why do people prefer to go en-masse to a church based seminar than to a company based one?
6. Are we chrono-centric – too obsessed with our own era? What is the way out?
7. How was the problem of air pollution solved?
8. What was the therapeutic dimension to it? Could it be “Going Green” – an effort to control climate change through the ‘reduce, recycle and re-use’ strategy?
9. If you consider the leading prime population segment of Nigeria, the youth market has significantly been under served in a lot of areas: the trend is not being paid attention to as apartments are built and wasted without an affordability plan for the youth. What should be done?
The real question: What changed? Why? How?
THE NEED FOR CREATIVE THINKING
Creative Thinking – Ideas – Innovation – Value = Breakthrough
Turn on the light – it is your aha moment.
60,000 thoughts pass through the mind a day – How much Innovation do you put into them?
You are capable of creating new ideas – Just utilise the skill.
Ideas often occur by combining two or more elements of knowledge together.
What is Creative Thinking?
It is the process of coming up with new or modified ideas.
To Think Creatively, apply Conceptual Thinking and Network Thinking:
Your creative thinking ability is built around three human thought processing functions:
• KNOWLEDGE BASE
• MOTIVATION & YOUR ATTITUDE
- STRATEGY – How you organise and plan your thought processes, evaluation of thoughts and ideas and future plans based on any given situation or problem.
- KNOWLEDGE BASE – Your acquired information on a group of subjects and problem domains. You draw on this information in order to be able to solve problems or add new thinking to situations.
- MOTIVATION & YOUR ATTITUDE – Such factors are often driven by your personality energy levels, perseverance and your self-confidence which in turn are acquired from a lifetime of experiences and interactions
Albert Einstein attained massive scientific success by questioning conventional wisdom and marveling at mysteries that struck others as mundane. It was his creative thinking that brought much of his ideas to life.
To kick-start creative thinking, you need to:
1. think outside the box, maybe inside the box too
2. observe everything around you
3. read widely
4. add some color that inspire creativity
5. look beyond your local environment and see what others are doing
6. take responsibility for your own personal creative skills development
7. have fun
8. be passionate
9. turn things upside down
10. be curious
11. be open and flexible to new possibilities
12. start applying “everyday creativity” to your life
13. adopt a creative personality
THINK & DO
Innovation is Tangible
We all want to be more creative.
YOU ARE THE INNOVATION; THE WORLD HAS BEEN WAITING FOR.
What is the value of one good idea? Nothing, unless action takes place. Now, that is Innovation.
Let’s Define Innovation
– derived from the Latin word – Innovatus – meaning to renew or to change. Therefore, the main characteristic of innovation is CHANGE.
o Innovation is bringing ideas to life.
o Innovation is looking at the same thing in new ways, like 1001 ways.
o Innovation is a continuous process of improvement, creating value and progress. Innovation is the exploitation of new ideas.
o Innovation is essentially a business affair, the commercialization of a new idea or process.
o Innovation is the profitable implementation of ideas that creates value: Think of invention as the laying of an egg, innovation as the laying, incubation and hatching.
o Innovation is the creation of a new product – market – technology – organization combination
o Innovation is the process of turning ideas to manufactured and marketable form.
o Innovation is the act or process of inventing or introducing something new.
o Innovation enables us to create better or more effective products, processes, technologies or ideas that affect markets, government and society.
1. Innovation adds significant value to human life.
2. Innovation is the key to competitive advantage in a highly turbulent environment.
3. Innovation transforms inner capabilities to exploit new ideas for change.
4. Innovation determines the wealth generation capabilities of an economy as a whole.
5. Innovation is universally accepted to be a good thing.
6. Innovation makes great companies and differentiates one company from another.
7. Innovation challenges the status-quo and sets a new standard.
8. Innovation creates growth, increases productivity and economic wealth.
9. Innovation makes the world more interesting for its inhabitants.
10. Innovation creates better goods and services at a cheaper price which consequently leads to a higher standard of living.
Many believe Innovation is to a dominant extent,
- A creative exercise – No!
- Assumed to be about product enhancement or new products based on souped-up old products.
- Is invention
- A thing
The striking difference
- Creativity – Think Ideas – think up new things
- Invention – Create Ideas
- Innovation – bring ideas to life, implement ideas, doing new things
CLASSIFICATION & TYPES OF INNOVATION
Innovation can be classified into 3:
- People (Organizational)
Two Major Types of Innovation
Incremental – is change that makes something better – gradual improvements.
Radical – where the result is new, changes paradigm against competitors reduces functionality. “Moving beyond the incremental.”
Orthogonal Innovation – This involves taking something and looking at the problem differently, using existing tools and products in a new way. Orthogonal Innovation doesn’t look for a new way to do something better:
As such we can assume three unique types of Innovation
• Orthogonal (Discontinuous)
1. Innovativeness – It is the degree to which an individual or other unit of adoption is relatively earlier in adopting new ideas than the other members of a
2. Adopters – People who use innovative products or services.
12. Value Innovation –- What do we help them get done?
- What are we offering our customers?
- What problems do we help them to solve?
13. Business Model Innovation
15. Commercial Innovation
16. Open Innovation
17. Innovation Management
Facebook leads the world’s 50 most innovative companies
Twitter is 6th
Google is 8th
Nissan is 9th
Intel is 11th
The Global Innovation Index states (TGII) – An Innovative Performance Indicator by INSEAD: The Business School for the World.
1. Switzerland – 63.82
2. Sweden – 62.12
3. Singapore – 59.64
4. Hong Kong/China – 58.8
5. Finland – 57.5
6. Denmark – 56.96
7. USA – 56.57
8. Canada – 56.33
9. Netherlands – 56.31
10. UK – 55.96
Out of 125 countries, Nigeria is 96th with an index of 28.15, 158.26 million people and a Gross Domestic Product of 173 billion.
BARRIERS TO INNOVATION
• Excessive Financial Constraints
• Lack of Time
• Unclear Vision Driven Leadership
• Lack of Resources
• Risk Aversion and Fear of Failure
• Organizational Hierarchy
• Resistance to Change
• Insufficient Incentives
• Insufficient Training
• Insufficient Talent
• Lack of Autonomy
• Lack of Infrastructure
OVERCOMING BARRIERS TO INNOVATION
• Management Support & Openness
• Leaders’ Modelling Behaviours
• Setting Up the Right Team
• Autonomy & Freedom
• Tolerance of Failure
• Networking Opportunities
• Dedicated Resources
• Incentives & Rewards
PROCESS DIMENSION OF INNOVATION
Different Innovation processes considered from 4Ps. Successful innovation process is essentially about positive change, improvement and putting forward value driven progress.
The 4Ps Categories are;
PRODUCT INNOVATION: Changes in the things (products or services) which an organization offers. This introduces or improves the products or services.
PROCESS INNOVATION: Changes in the ways in which products and services are created or delivered.
POSITION INNOVATION: Changes in the perception or process context in which the product or services are framed and communicated.
PARADIGM INNOVATION: Changes in the underlying mental models which shape what the organization does or is about.
LET’S CONSIDER THESE ANECDOTES
1. Amazon’s success is built on great inventory availability coupled with outstanding , detail obsessed customer service.
2. 1990, the fiber optics took the place of wire in communications technologies.
3. Can you imagine how the ATM made banking easier, even easier with a microchip as we can find in the MasterCard.
4. Intel developed over 99% of its breakthroughs after its first success.
5. What would we call the “The Computer” in the future? The Super Intelligent Computer, Bill Gates said.
6. William Shockley, founding Father of Silicon Valley – one of the most significant and reviled scientists of the twentieth century. Shockley won a Nobel Prize for inventing the transistor, an invention upon which everything that makes up the modern world is based. Little has affected history as much as this device.
7. The birth of a new information age and the spread of the technologies and ideas have made the best things in life cheap. Innovation made all these possible.
Innovation shapes the world and its future, how?
8. Skype & Ipod encourage staff to introduce their own ideas for a value.
ANECDOTES – Exemplary
Levi-Strauss Jeans are a well-established global product line, originally developed as manual workers’ clothing materials, but then re-branded as a fashion item.
The BIC ball point pen is an example of a product innovation which has also benefited from a range of incremental innovations since its original invention.
Example of process innovations that have had a positive effect on the humanitarian sector are the increasing stockpiling of goods in strategic locations or the use of pre-made packs and kits.
1999, HP appointed Carly Fiorina as CEO. The shift in this century will be dramatic with a top woman leader.
A QUICK INNOVATION EXERCISE
Outline 10 products or services or situations you have somehow encountered, what is it about each of them you don’t like?
Product/ Service/ Situation What I don’t like about it
THE INNOVATOR NEXT
The Innovator Next is a change driven person who has a high propensity to innovate and implement ideas for social and commercial purposes.
The Innovator Next is imbued vision, passion, creativity, effectiveness and is highly result oriented.
The Innovator Next is a visionary – he has an informed and forward thinking statement of purpose and ambition.
Characteristics of an Innovator Next
• The Innovator Next is the model of change in the organization.
• The Innovator Next innovates to be a good corporate citizen.
• The Innovator Next listens to people; to customers; to sounds; to stakeholders; to friends; to everything around them.
• The Innovator Next through constant facilitation, training and coaching can achieve high potentials.
• The Innovator Next thinks and behaves in ways that foster innovation for self and business.
• The Innovator Next is close to the market, focused on the market and indeed market driven.
• The Innovator Next watches trends to see things that others do not see, to seize opportunities where others only see confusion.
• The Innovator Next observes and understands other people and how their needs, desires, interests, values and tastes change over time.
• The Innovator Next creates new fortunes by seeing where things are going , by recognizing trends at work a little quicker than the competition.
• The Innovator Next gets out of the channel everyone else is in and look at things from a different angle, which often get him/her fresh insights.
• The Innovator Next looks for lessons he/she can transfer from one industry to the other.
• The Innovator Next extends his horizons by getting up on the highest hills around and looks out as far as his eyes can see.
• The Innovator Next considers all available possibilities.
• The Innovator Next thinks about the unexpected, looks for the undone things, by this, jumping the track to create a world of whole new possibilities.
• The Innovator Next chooses to embrace competition which means choosing the difficult route and going where the competition is rather than away from it.
• The Innovator Next does one thing brilliantly and remarkably.
• The Innovator Next identifies problems, identify his/her passions, and identify needs.
• The Innovator Next is a risk taker and is very daring.
• The Innovator Next is ambidextrous. She/he can function in an administrative and creative setting and produce extraordinary results.
BECOMING AN INNOVATOR NEXT
1. High Nosing Skills – Sensitive and Inquisitive
2. Knowledge Management Skills
3. Constant Thinking and Vision Driven
4. Creative Writing and Idea Development Skills
5. Communication and Presentation Skills
6. Social Relation and Interactive Skills
7. research and Development Skills
8. strong Professional Practice
9. Market Friendly Skills
1. Identify a Need
2. Identify the Audience – Who shares this problem? Who is looking for answers?
3. Gather your research and information – Unearth common complaints, read reviews about common approaches and look for loopholes in their effectiveness.
4. Engage a Team
5. Get to Work on the Problem
Convert the Problem:
1. Sort the Problem – Commercialize your Solution – The Idea
2. Plan your Strategy
3. Build a Team
4. Market your Idea
5. Have a Vision
6. Drive the Vision
1. Knowledge Management Executives
2. Innovation Officers
3. R&D Officers
4. Product Prototype Officers
5. Idea Strategists
1. Niche Driven Consulting
2. Own Unique Business
Youth – Media – Entertainment – TV – Film – Education – Banking – Oil & Gas – Government – Architecture – Advertising – Marketing – Publishing – Transport – Construction – Telecom – Fashion – Technology – Events Management – Social Development – Radio – Workplace Management.
Before you decide how you are going to market, it is important to first work through a basic planning process by answering the following questions:
1. Define the goal: How do you want to position your idea/ brand/ product/ organisation? How do you want to be seen? Who do you want to be seen by? Who do you want to ultimately join your tribe?
2. Define gaps in results? Where are you seeing results? Where are you not seeing the results you desire?
3. Choose a tactic: Most of the time, it’s easier to choose a tactic than it is to answer the two previous questions. With this, you will be able to choose the right method to gain the high –pay offs results you desire.
Choosing the Right Means
Marketing is a means to an end which is to help you achieve your goal. Choosing the right means or the right tactics is key and as we all know, budget-friendly options that don’t sacrifice quality are best.
1. Embrace Social Media
3. Explore Video
Professionalism is doing what you say you are going to do.
Professionalism knows how important appearances coupled with a good active listening skill are.
Professionalism is when you are different with your deliverables.
Professionalism is having a great deal of loyalty across board.
Professionalism is using effective methods of communication.
Professionalism is strictly maintaining confidentiality with clients etc.
Professionalism is simply speaking well of others.
Professionalism is taking responsibility when you have made a mistake and you admit that you are wrong.
Professionalism understands the inherent possibilities in interacting with other professionals.
Professionalism is when you do unto others as you would have them do unto you.
INNOVATOR NEXT @ WORK
Innovation at the workplace needs to start with an idea and paying a detailed attention to the various systems that run the company.
At work, you can set aside 30 minutes daily for idea generation.
Analysing these questions can often inspire you to innovate.
1. What do you like about your job?
2. What don’t you like?
3. What takes too long to complete?
4. Where is their waste?
5. Which processes have too many steps?
6. Are there any areas at your work that often result in conflicts between staff members?
7. What new projects are on the companies agenda?
8. What problems are people facing?
9. What market haven’t the company penetrated?
INNOVATOR NEXT IN BUSINESS
First Identify Your Passion
Ghandi said, “Be the change you wish to see in the world”.
A few common hotspots include:
– Lack of Education
– Environmental Harm
– Political Limitations
– Social Injustice
– Medical Need
– Need for Technological Breakthrough.
Problems are also known as opportunities.
Questions to Ask
1. What are my personal values, passions, ideas about life?
2. What are others saying about me?
3. What could I create that could be like a dream come true for my market?
If your business is a dream comes true for customers, you win. Game Over
IDEA – A knowledge based proposition which contains inherent value and solves a problem or addresses a situation.
PRODUCT – A tangible item that is of value to a person or people and has commercial strength.
BUSINESS – A commercial entity which provides value based items in order to generate profit and enhance living standards.
AS I CONCLUDE
The ingredients of success at the highest level are: PASSION, TALENT, HARDWORK AND OPPORTUNITIES.
The most fundamental skill of the Innovator Next is to be curious with the ability to look, to observe, most especially it is the attitude of asking, looking and seeing.
Above all, you must;
• Have a burning desire for something worthwhile.
• Have intense energy that seeks new answers.
• Have a drive and dedication that propel goal driven solutions.
• Have a high octane spirit to conquer obstacles, competitors or the doubt of the naysayer.
• Have a heart of “I CAN DO IT”.
• Have sensitive eyes and ears to absorb knowledge.
Great ideas are nothing more than the restructuring of what you already know and when all your ideas are added together, the sum should represent your breakthrough.
1. Hoover’s Vision by Gary Hoover
2. The Articulate Executive in Action by Granville N. Toogood
3. Crafting & Executing Strategy by Arthur A. Thompson Jr., A.J Strickland III and John E. Gamble
4. The Modern Mind: An Intellectual History of the Twentieth Century by Peter Watson
5. Creating the Twentieth Century: Technical Innovations of 1867 – 1914 and their lasting impact by Vaclav Smil
6. Freeing the Corporate Mind by Art Cornwell
7. Managing Innovation by Jane Henry & David Walker
8. The Robert Rules of Innovation by Robert Brands