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Innovation: just a hype?

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How important is innovation really? Is it just a hype, a buzzword that will fade away soon, or does it really play an important role in how you manage your business today?

How important is innovation really? Is it just a hype, a buzzword that will fade away soon, or does it really play an important role in how you manage your business today?

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  • 1. Innovation Nonsense, buzzword, or reality?
  • 2. Etymology Innovation
  • 3. Etymology Innovation ๏ ... is an old word
  • 4. Etymology Innovation ๏ ... is an old word ๏ ... that exists in many languages
  • 5. Etymology Innovation ๏ ... is an old word ๏ ... that exists in many languages ๏ ... and traces back to Latin
  • 6. Etymology “ innovare ”
  • 7. Etymology “ innovare ” ๏ ... to renew
  • 8. Etymology “ innovare ” ๏ ... to renew ๏ ... to introduce something new
  • 9. Modern times Nowadays the meaning primarily derives from our management thinking
  • 10. What is innovation?
  • 11. What is innovation? ๏ Innovation, to innovate or to be innovative
  • 12. What is innovation? ๏ Innovation, to innovate or to be innovative ๏ When talking about innovation, one is usually referring to something that is new
  • 13. What is innovation? ๏ Innovation, to innovate or to be innovative ๏ When talking about innovation, one is usually referring to something that is new ๏ The focus lies on a product
  • 14. What is innovation? ๏ One can also focus on the process
  • 15. What is innovation? ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  • 16. How does it work?
  • 17. How does it work? Innovation can be seen as a systematic way to transform creativity to something operational
  • 18. Simply said:
  • 19. to be one step ahead !
  • 20. True or false? Innovation is only important for manufacturers, engineers and product managers ?
  • 21. True or false? False
  • 22. True or false? False ... this is a common misconception, though
  • 23. Let´s take a quick glance back...
  • 24. Let´s take a quick glance back... ๏ When talking about innovation, one is usually referring to something that is new ๏ The focus lies on a product
  • 25. Let´s take a quick glance back... ๏ When talking about innovation, one is usually referring to something that is new ๏ The focus lies on a product ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  • 26. Let´s take a quick glance back... and ufacturers man ir When talking about innovation, one is usually treferringato the ely h ve ๏ lik ineers mos eng focus here something that is new ๏ The focus lies on a product ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  • 27. ๏ But also manufacturers focus on their processes!
  • 28. ๏ But also manufacturers focus on their processes! ๏ Of course they do!
  • 29. ๏ But also manufacturers focus on their processes! ๏ Of course they do! ๏ They do look at their (production)processes, but the main argument most probably is to be more effective: to cut costs
  • 30. ๏ But also manufacturers focus on their processes! ๏ Of course they do! ๏ They do look at their (production)processes, but the main argument most probably is to be more effective: to cut costs ๏ And YES... they can also be innovative here!
  • 31. ๏ But also manufacturers focus on their processes! ๏ Of course they do! ๏ They do look at their (production)processes, but the main argument most probably is to be more effective: to cut costs ๏ And YES... they can also be innovative here! ๏ Still, a highly cost effective manufacturer with hardly any product innovations will have a hard time keeping customers in the long run.
  • 32. ๏ But also manufacturers focus on their processes! ๏ Of course they do! ๏ They do look at their (production)processes, but the main argument most probably is to be more effective: to cut costs ๏ And YES... they can also be innovative here! ๏ Still, a highly cost effective manufacturer with hardly any product innovations will have a hard time keeping customers in the long run. ๏ It is more about where the main focus should lie.
  • 33. Let´s take a quick glance back... ๏ When talking about innovation, one is usually referring to something that is new ๏ The focus lies on a product ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  • 34. Let´s take a quick glance back... ๏ When talking about innovation, one is usually referring to something that is new nd ompanies a ๏ The focus lies on a product trade c ir ly have the like iders most v service pro focus here ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  • 35. ๏ But also trade companies focus on their products!
  • 36. ๏ But also trade companies focus on their products! ๏ No doubt about it!
  • 37. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers
  • 38. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers ๏ Unless they take part in new product development there is no real innovation from their hand
  • 39. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers ๏ Unless they take part in new product development there is no real innovation from their hand ๏ They buy innovative products/ solutions and sell them again
  • 40. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers ๏ Unless they take part in new product development there is no real innovation from their hand ๏ They buy innovative products/ solutions and sell them again ➡ note: this is a process!
  • 41. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers ๏ Unless they take part in new product development there is no real innovation from their hand ๏ They buy innovative products/ solutions and sell them again ➡ note: this is a process! ๏ Still, a trade company with a highly innovative product program, but with poor processes, will have a hard time keeping customers in the long run.
  • 42. ๏ But also trade companies focus on their products! ๏ No doubt about it! ๏ They do look at their product program, but the main argument will be to be more attractive to customers ๏ Unless they take part in new product development there is no real innovation from their hand ๏ They buy innovative products/ solutions and sell them again ➡ note: this is a process! ๏ Still, a trade company with a highly innovative product program, but with poor processes, will have a hard time keeping customers in the long run. ๏ It is more about where the main focus should lie.
  • 43. Both go hand in hand and are equally important.
  • 44. Both go hand in hand and are equally important. just be sure to have your focus right!
  • 45. Innovation strategies and theories
  • 46. Innovation strategies and theories There are many ways to innovate, but to avoid sidetracking only the two extremes will be illustrated:
  • 47. Innovation strategies and theories There are many ways to innovate, but to avoid sidetracking only the two extremes will be illustrated: ๏ Big Bang theory • Revolution • Big impact, long timespan • Fits to “Western world” cultures • Dominant in USA, Northern- and Western Europe
  • 48. Innovation strategies and theories There are many ways to innovate, but to avoid sidetracking only the two extremes will be illustrated: ๏ Big Bang theory • Revolution • Big impact, long timespan • Fits to “Western world” cultures • Dominant in USA, Northern- and Western Europe ๏ Continues improvement (Kaizen) • Evolution • Little improvements, all the time • Fits to Asian cultures • Popularized by Toyota
  • 49. Fine, all this theory...
  • 50. Fine, all this theory... ... but give me something I can use!
  • 51. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 52. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 53. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 54. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 55. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 56. Conditions to be innovative ll aren´t a y ple, wh m s that si tive -?- ti va If i ies inno ๏ compan Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  • 57. Being innovative involves:
  • 58. Uncertainty
  • 59. Risk
  • 60. Both are not management´s best friends...
  • 61. But... ....how important is innovation, really?
  • 62. it´s pure survival!
  • 63. Importance of innovation
  • 64. Importance of innovation ๏ Part of a company´s long-term strategy
  • 65. Importance of innovation ๏ Part of a company´s long-term strategy ๏ A possible way to market leadership
  • 66. Importance of innovation ๏ Part of a company´s long-term strategy ๏ A possible way to market leadership ๏ Part of a natural process: PLC (product life cycle)
  • 67. What if...
  • 68. What if... A company´s strategy is something like:
  • 69. What if... A company´s strategy is something like: ๏ “... we want to be one of the two most important players in the market...”
  • 70. What if... A company´s strategy is something like: ๏ “... we want to be one of the two most important players in the market...” ๏ “... we want to be in the top 10 of...”
  • 71. What if... A company´s strategy is something like: ๏ “... we want to be one of the two most important players in the market...” ๏ “... we want to be in the top 10 of...” Is innovation in such a case of less importance?
  • 72. No!
  • 73. No! ๏ To BE number two
  • 74. No! ๏ To BE number two ๏ one still has to beat number three, four, etc.
  • 75. No! ๏ To BE number two ๏ one still has to beat number three, four, etc. ๏ If others develop at a faster pace than you...
  • 76. No! ๏ To BE number two ๏ one still has to beat number three, four, etc. ๏ If others develop at a faster pace than you... ๏ You soon end up being number 12
  • 77. 24
  • 78. 31
  • 79. 78
  • 80. Innovation is not the only key to a company´s development
  • 81. Innovation is not the only key to a company´s development But...
  • 82. Innovation is not the only key to a company´s development But... ๏ To be innovative is a behavior
  • 83. Innovation is not the only key to a company´s development But... ๏ To be innovative is a behavior ๏ A state of mind
  • 84. Innovation is not the only key to a company´s development But... ๏ To be innovative is a behavior ๏ A state of mind ... and therefore a relatively easy and low cost parameter to focus on
  • 85. Requirements
  • 86. Requirements ๏ A fertile atmosphere
  • 87. Requirements ๏ A fertile atmosphere ๏ What is that?
  • 88. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different
  • 89. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different ๏ Common values express, it should be a place that
  • 90. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different ๏ Common values express, it should be a place that ๏ ... ensures you are not continuously interrupted
  • 91. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different ๏ Common values express, it should be a place that ๏ ... ensures you are not continuously interrupted ๏ ... has a positive effect on ones mood
  • 92. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different ๏ Common values express, it should be a place that ๏ ... ensures you are not continuously interrupted ๏ ... has a positive effect on ones mood ๏ ... and ones way of thinking
  • 93. Requirements ๏ No prioritization of, or focus on, direct tangible results
  • 94. Requirements ๏ Support from direct colleagues and supervisor is of major importance
  • 95. Sum up: ๏ a fertile atmosphere ๏ No prioritization of, or focus on, direct tangible results ๏ Support from colleagues and supervisor
  • 96. Is that it?
  • 97. Is that it? ๏ YES !
  • 98. Is that it? ๏ YES ! ๏ That is all there is to it to become innovative!
  • 99. Is that it? ๏ YES ! ๏ That is all there is to it to become innovative! ๏ Most other things depend on the innovative solution one comes up with
  • 100. You have all of this under control?
  • 101. You have all of this under control? Then now it is time to consider the following important factors:
  • 102. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility
  • 103. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital
  • 104. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload
  • 105. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing?
  • 106. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing? ๏ Budget & financing
  • 107. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing? ๏ Budget & financing ๏ Impact
  • 108. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing? ๏ Budget & financing ๏ Impact ๏ Consequences
  • 109. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing? ๏ Budget & financing ๏ Impact ๏ Consequences ๏ Timing
  • 110. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload ๏ Outsourcing? ๏ Budget & financing ๏ Impact ๏ Consequences ๏ Timing ๏ etc.
  • 111. Remember: To be innovative is a state of mind
  • 112. Therefore... Innovation is independent of budgets, structure and rules
  • 113. or, like a wise man once said:
  • 114. or, like a wise man once said: “Innovation is not the product of logical thought, although the result is tied to logical structure.” Albert Einstein
  • 115. The crisis! (financial crisis 2008/2009)
  • 116. The crisis! (financial crisis 2008/2009) ๏ All that innovation chat sounds fine, but we are in the middle of a financial crisis...
  • 117. The crisis! (financial crisis 2008/2009) ๏ All that innovation chat sounds fine, but we are in the middle of a financial crisis... ๏ There are more important things to concentrate on at the moment...
  • 118. The crisis! (financial crisis 2008/2009) ๏ All that innovation chat sounds fine, but we are in the middle of a financial crisis... ๏ There are more important things to concentrate on at the moment... ๏ Besides, we are long behind budget...
  • 119. Recognize these statements?
  • 120. Recognize these statements? Especially in times of crisis it is important to be creative, think out of the box and ...
  • 121. Recognize these statements? Especially in times of crisis it is important to be creative, think out of the box and ... ... be innovative
  • 122. Why?
  • 123. Why? “a future oriented strategy, based on a companies´ individual strengths and specific needs of it´s target group(s), contributes to the innovative succes through times of crises and recession.”
  • 124. Right! What does that mean?
  • 125. Right! What does that mean? What are the effects of a crisis on a company?
  • 126. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts
  • 127. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Poor economic results
  • 128. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Poor economic results ๏ Still got your job?
  • 129. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Poor economic results ๏ Still got your job? ๏ Many companies are downsizing or went bankrupt
  • 130. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Should result in more time... ๏ Poor economic results ๏ Still got your job? ๏ Many companies are downsizing or went bankrupt
  • 131. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Should result in more time... ๏ Poor economic results ๏ Should result in more creativity... ๏ ... and out of the box thinking (to reach budget) ๏ Still got your job? ๏ Many companies are downsizing or went bankrupt
  • 132. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts ๏ Should result in more time... ๏ Poor economic results ๏ Should result in more creativity... ๏ ... and out of the box thinking (to reach budget) ๏ Still got your job? ๏ Many companies are downsizing or went bankrupt ๏ Should result in more “space” on the market, since competitors lose customers and therewith market share
  • 133. If your company did not go bankrupt by now, actually all conditions for growth are present
  • 134. If your company did not go bankrupt by now, actually all conditions for growth are present If you dare to invest in innovation!
  • 135. What was innovation again?
  • 136. What was innovation again? To be one step ahead.
  • 137. Dare you be one step ahead?
  • 138. Thank you for your time and attention! Ralph Lambers ralphlambers @ hotmail.com www.xing.com/profile/Ralph_Lambers