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The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
The New Age Of Innovation
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The New Age Of Innovation

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  • 1. The New Age of Innovation C. K. Prahlad M. S. Krishnan
  • 2. Structure of this presentation <ul><li>Introduction of the authors </li></ul><ul><li>Introduction to the book </li></ul><ul><li>New age of innovation, and what it means </li></ul><ul><li>Framework: N = 1 & R = G </li></ul><ul><li>Strategies to gain Competitive Advantage </li></ul><ul><li>Managerial Requirements for Innovation </li></ul><ul><li>Interaction </li></ul>
  • 3. Author profiles Coimbatore Krishnarao Prahlad <ul><li>Education </li></ul><ul><ul><li>B. Sc, University of Madras – 1960 </li></ul></ul><ul><ul><li>PGDBA, IIM Ahmedabad – 1966 </li></ul></ul><ul><ul><li>D.B.A, Harvard Business School – 1975 </li></ul></ul><ul><li>Dean at University of Michigan </li></ul><ul><li>Has been in the top ten management thinkers by most surveys globally, continuously over the last decade </li></ul><ul><li>Ranked by TIME as the “Most influential management thinker” </li></ul><ul><li>First recipient of Lal Bahadur Shastri award for Contribution to management and public administration, from the president of India in 2000 </li></ul><ul><li>Author of books: </li></ul><ul><ul><li>Competing for the future, with Gary Hamel in 1994 </li></ul></ul><ul><ul><li>The future of competition, with Venkata Ramaswamy in 2004 </li></ul></ul><ul><ul><li>Fortune at the bottom of the pyramid, in 2004 </li></ul></ul><ul><ul><li>The new age of Innovation, with M.S. Krishnan in 2008 </li></ul></ul>
  • 4. Author profiles Mayuram S Krishnan <ul><li>Education </li></ul><ul><ul><li>B. Sc, University of Delhi – 1984 </li></ul></ul><ul><ul><li>M.C.A, University of Delhi – 1987 </li></ul></ul><ul><ul><li>M.S, Carnegie Mellon University – 1993 </li></ul></ul><ul><ul><li>Ph. D, Carnegie Mellon University – 1996 </li></ul></ul><ul><li>Professor at University of Michigan </li></ul><ul><li>Co-director, Center for Global resource leverage - India </li></ul><ul><li>Recognized by American Society for Quality as one of the top 21 voices for quality in the 21 st century </li></ul><ul><li>Serves various boards as associate editor of journals in Management science and Information systems research </li></ul><ul><li>Published research articles in IEEE and HBR Journals </li></ul><ul><li>Co-author of the book, The new age of Innovation </li></ul>
  • 5. Contents of the Book <ul><li>Expected to give the strategies for re-designing systems to co-create value with customers and connect all parts of a firm to this process, the chapters of the book were organized as below: </li></ul><ul><li>Transformation of Business </li></ul><ul><li>Business Processes: The enablers of Innovation </li></ul><ul><li>Analytics: Insights for Innovation </li></ul><ul><li>IT Matters: Technical Architecture for Innovation </li></ul><ul><li>Organizational Legacies: Impediments to Value creation </li></ul><ul><li>Efficiency and Flexibility: Managing the tension </li></ul><ul><li>Dynamic Reconfiguration of Talent </li></ul><ul><li>Agenda for Managers: Focus on the essence of Innovation </li></ul>
  • 6. Innovation in 21 st Century <ul><li>Innovation </li></ul><ul><ul><li>Successful application of an invention </li></ul></ul><ul><ul><li>Complex processes of change characterized by co-evolution of scientific, technological, societal and economic systems </li></ul></ul><ul><ul><li>Creative work translated to useable outcome </li></ul></ul><ul><li>21 st Century requirements of innovation: </li></ul><ul><ul><li>Open </li></ul></ul><ul><ul><li>Collaborative </li></ul></ul><ul><ul><li>Multi-disciplinary </li></ul></ul><ul><ul><li>Global </li></ul></ul><ul><li>Source: Somewhere from Google </li></ul>
  • 7. Why Innovate at all? <ul><li>With the advent of digitization, ubiquitous connectivity and globalization, Transformation will need to be radically altered, to change the very nature of the firm and how it creates value </li></ul><ul><li>Competitive advantage in 21 st century can be gained only through a combination of cost leadership and differentiation, Specialization and the best information management systems </li></ul><ul><li>Scalable means survival, since </li></ul><ul><ul><li>Cost arbitrage sought can only go downwards </li></ul></ul><ul><ul><li>Cost of talent arbitrage can only go upwards </li></ul></ul><ul><li>WORLD CAN ONLY BE MORE COMPLEX </li></ul>
  • 8. N = 1 and R = G <ul><li>N = 1 </li></ul><ul><ul><li>Value will increasingly be co-created with consumers </li></ul></ul><ul><ul><li>Every consumer is unique </li></ul></ul><ul><li>R = G </li></ul><ul><ul><li>No single firm has the complete knowledge, skills and resources it needs to co-create value with consumers </li></ul></ul><ul><ul><li>Every company has a gap between the strategic intent and its capacity to act from within the organization </li></ul></ul>
  • 9. Reality by 2015 <ul><li>5 Billion people are connected through Mobiles and Internet </li></ul><ul><li>1 Billion people are active in using Social networks </li></ul><ul><li>Easy access to Infrastructure </li></ul><ul><li>Ever increasing competition </li></ul><ul><li>Easy to use and cheaper cost technologies coming through </li></ul><ul><li>Future consumers are here, very young today </li></ul><ul><li>WORLD IS A PLACE FOR INDIVIDUALS </li></ul>
  • 10. Strategy <ul><li>Theme </li></ul><ul><ul><li>Enhance mission critical business processes </li></ul></ul><ul><li>Focus </li></ul><ul><ul><li>Designing processes to ‘enable innovation’ irrespective of the manifestation of innovation itself </li></ul></ul><ul><li>Action Items </li></ul><ul><ul><li>Integrate and maintain the access to capital and other resources </li></ul></ul><ul><ul><li>Manage the relationship between Ideas, Information, and Knowledge </li></ul></ul><ul><ul><li>Make the processes connect strategic intent to day-to-day operations </li></ul></ul><ul><li>Possible Causes of Failure </li></ul><ul><ul><li>Lack of senior management involvement in designing business processes </li></ul></ul><ul><ul><li>Focus on either Profitability or Growth alone </li></ul></ul>
  • 11. Strategy <ul><li>Theme </li></ul><ul><ul><li>Build analytics at every level of the system </li></ul></ul><ul><li>Focus </li></ul><ul><ul><li>Research oriented data, not transactional data </li></ul></ul><ul><li>Action Items </li></ul><ul><ul><li>Connect to the strategy and identify the required analytics </li></ul></ul><ul><ul><li>Improve the level of granularity, clarity, and visibility of processes to leverage on global resources </li></ul></ul><ul><li>Possible Causes of Failure </li></ul><ul><ul><li>Dominant Logic: What you see depends on where you have been </li></ul></ul><ul><ul><li>Failure to identify the emerging trend; and not looking down for emerging players in the business </li></ul></ul><ul><ul><li>Working on un-actionable insights </li></ul></ul>
  • 12. Strategy <ul><li>Theme </li></ul><ul><ul><li>IT matters: Improve the technical architecture </li></ul></ul><ul><li>Focus </li></ul><ul><ul><li>Technology enabling strong business foundation, compliant to environment. </li></ul></ul><ul><ul><li>Technology with evolving capabilities that can confront reality and change </li></ul></ul><ul><ul><li>Should communicate the displacement of center of gravity at any time </li></ul></ul><ul><ul><ul><li>Quality – Speed : Event Driven – Scalable : Cost advantage – Change and Flexibility </li></ul></ul></ul><ul><ul><ul><li>Interface – Ease of use – Ease to work - Integration </li></ul></ul></ul><ul><li>Possible Causes of Failure </li></ul><ul><ul><li>Lack of senior management involvement, in identifying the need for technology, and the suitable technology for business </li></ul></ul>
  • 13. Strategy <ul><li>Theme </li></ul><ul><ul><li>Be efficient and flexible at the same time: EFFECTIVE </li></ul></ul><ul><li>Focus </li></ul><ul><ul><li>Managing the tension; Social Architecture and Technical Architecture </li></ul></ul><ul><li>Action Items </li></ul><ul><ul><li>Change the roles and responsibilities of people to fit the strategy </li></ul></ul><ul><ul><li>Put governance to work; not to change policies, but create a transparent platform to create policies – custom fit to consumers </li></ul></ul><ul><ul><li>Increase the elasticity: the extent to which processes can be stretched to accommodate strategically dissimilar businesses </li></ul></ul><ul><li>Possible Causes of Failure </li></ul><ul><ul><li>Lack of Training to personnel </li></ul></ul>
  • 14. Strategy <ul><li>Theme </li></ul><ul><ul><li>Reconfigure the talent; Make it mobile </li></ul></ul><ul><li>Focus </li></ul><ul><ul><li>Ceaseless improvement </li></ul></ul><ul><li>Action Items </li></ul><ul><ul><li>Identify the talent within the organization; have access talent outside </li></ul></ul><ul><ul><li>Make the talent work towards a goal and help it manage stress </li></ul></ul><ul><ul><li>Create capacity to reduce with frictional losses during reconfiguration </li></ul></ul><ul><li>Possible Causes of Failure </li></ul><ul><ul><li>Temptation to outsource, rather than mobilize talent </li></ul></ul><ul><ul><li>Losing sight of the vision, due to possible breakthroughs </li></ul></ul>
  • 15. Obstacles to Innovation <ul><li>Improper Organizational Structure </li></ul><ul><li>Misalignment of Goals </li></ul><ul><li>False Start </li></ul><ul><li>Lack of Discipline </li></ul><ul><li>Organizational Legacies </li></ul><ul><li>Weak Accountability </li></ul><ul><li>Individuals’ domination in thought process </li></ul><ul><li>No Sense of Urgency </li></ul><ul><li>Gut feel management </li></ul><ul><li>Source: Just one of our recipe </li></ul>
  • 16. Managerial Requirements for Innovation <ul><li>Realize the paradigm, N = 1 and R = G </li></ul><ul><li>Remember, What got you here won’t get you there </li></ul><ul><li>Transition is about Speed and Stamina </li></ul><ul><li>Make transition measurable </li></ul><ul><li>Articulate capabilities and point of departures, clearly </li></ul><ul><li>Migration should be well planned, and executed in phases </li></ul><ul><li>Block and Tackle, Keep moving towards the goal </li></ul><ul><li>Be ready for troubles. It is never certain anywhere </li></ul><ul><li>Time lag is inevitable. Learn coping up with it </li></ul>
  • 17. Welcome for Interaction <ul><li>Flexibility is not about load balancing, but about continuously balancing load, depending on the nature of the task with appropriate resources. Therefore: </li></ul><ul><li>Connect | Collaborate | Co-Create </li></ul>
  • 18. Thank you all… <ul><li>Vinay Chaganti </li></ul><ul><li>Associate, ATGOCS </li></ul><ul><li>Work Mail ID: [email_address] </li></ul><ul><li>Personal Mail ID: [email_address] </li></ul><ul><li>Mobile: +91 97040 53338 </li></ul>

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