Innovation
For
Power & Profit
INNOVIZE

What is Innovation?
How Important Is It?
How do you do it?

Prof. Peter Drucker
“The business has two basic functions.
Only Marketing & Innovation produce results.
All the rest are just costs.”

What is Innovation?

PayPal

Banks Were Doing
Better Sameness!

Innovation Is
NOT
Better Sameness!

Steadily improving
what we already do

The Parity Trap.

All make almost same thing.

All make almost same thing.
Including small profits!

Significant changes to make
significantly higher profits.

Why doesn’t every
company innovate?

Risk Of Failure.

Famous Failures.

Different + Valuable.

Different
From All
The Rest
0
Valuable To
Customers

Different
From All
The Rest
*
0
Valuable To
Customers

Different
From All
The Rest
*
0
Valuable To
Customers

Different
From All
The Rest
0 *
Valuable To
Customers

Different
From All
The Rest
*
0
Valuable To
Customers

Different
From All
The Rest
0
* Valuable To
Customers

Why Innovate?
Survival
Self defence
Market expansion
Diversification
Profitability
Power

To Control Your Own Destiny

How Do You Innovate?

3 Sources

Within your own company.

Culture for Creativity.
Autonomy.
Mastery.
Purpose.

Fast Changing Markets
Need 2 Critical Modes.
• Active Waiting
• Alert for Anomalies

From outside your company.

Blend both – Open Innovation.

Open >50% of P&G Initiatives

How About You Personally?

Embrace Change.

Be a Change Agent.

Generate Ideas.

SCAMPER
• Substitute an aspect of it
• Combine elements with something else
• Adapt or Alter an aspect
• Minimize, Magnify or Multiply an aspect
• Put some part of it to other uses
• Eliminate an aspect
• Reverse an aspect

Explore Your Clients’
Problems for Ideas.

Make Mistakes.

"The way to succeed is to
double your error rate."
Thomas J. Watson Sr.

What is the process?

Innovation Process?
Have Ideas
Production

Innovation Process?
Have Ideas
Production

Innovation Process.
Ideas.
Review.
Prototype/POC.
Test.
Refine.
Implement.

The Innovation Pathway
ANALYSIS
CREATIVITY
Ideate Review Prototype/POC Test Refine Implement

Innovation Summary.
• Significant, valuable changes
• Control of your destiny
• Culture & Leadership
• Essential process
• 3 main sources
• You can do it

INNOVIZE
Innovation Consulting:
- Methods & Systems
- Structure & Staffing
- Culture & Leadership
- Acquisitions & Partnerships
- Rent-An-Inventor

INNOVIZE
MAKING IDEAS MAKE MONEY
Mike.Langton@Innovize.com.sg.