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?

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Innovation: just a hype?

  1. 1. Innovation Nonsense, buzzword, or reality?
  2. 2. Etymology Innovation
  3. 3. Etymology Innovation ๏ ... is an old word
  4. 4. Etymology Innovation ๏ ... is an old word ๏ ... that exists in many languages
  5. 5. Etymology Innovation ๏ ... is an old word ๏ ... that exists in many languages ๏ ... and traces back to Latin
  6. 6. Etymology “ innovare ”
  7. 7. Etymology “ innovare ” ๏ ... to renew
  8. 8. Etymology “ innovare ” ๏ ... to renew ๏ ... to introduce something new
  9. 9. Modern times Nowadays the meaning primarily derives from our management thinking
  10. 10. What is innovation?
  11. 11. What is innovation? ๏ Innovation, to innovate or to be innovative
  12. 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. 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. 14. What is innovation? ๏ One can also focus on the process
  15. 15. What is innovation? ๏ One can also focus on the process ๏ to stand out and be able to keep standing out
  16. 16. How does it work?
  17. 17. How does it work? Innovation can be seen as a systematic way to transform creativity to something operational
  18. 18. Simply said:
  19. 19. to be one step ahead !
  20. 20. True or false? Innovation is only important for manufacturers, engineers and product managers ?
  21. 21. True or false? False
  22. 22. True or false? False ... this is a common misconception, though
  23. 23. Let´s take a quick glance back...
  24. 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. 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. 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. 27. ๏ But also manufacturers focus on their processes!
  28. 28. ๏ But also manufacturers focus on their processes! ๏ Of course they do!
  29. 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. 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. 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. 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. 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. 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. 35. ๏ But also trade companies focus on their products!
  36. 36. ๏ But also trade companies focus on their products! ๏ No doubt about it!
  37. 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. 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. 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. 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. 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. 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. 43. Both go hand in hand and are equally important.
  44. 44. Both go hand in hand and are equally important. just be sure to have your focus right!
  45. 45. Innovation strategies and theories
  46. 46. Innovation strategies and theories There are many ways to innovate, but to avoid sidetracking only the two extremes will be illustrated:
  47. 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. 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. 49. Fine, all this theory...
  50. 50. Fine, all this theory... ... but give me something I can use!
  51. 51. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  52. 52. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  53. 53. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  54. 54. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  55. 55. Conditions to be innovative ๏ Budget ๏ Creativity ๏ Flexibility ๏ Company culture
  56. 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. 57. Being innovative involves:
  58. 58. Uncertainty
  59. 59. Risk
  60. 60. Both are not management´s best friends...
  61. 61. But... ....how important is innovation, really?
  62. 62. it´s pure survival!
  63. 63. Importance of innovation
  64. 64. Importance of innovation ๏ Part of a company´s long-term strategy
  65. 65. Importance of innovation ๏ Part of a company´s long-term strategy ๏ A possible way to market leadership
  66. 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. 67. What if...
  68. 68. What if... A company´s strategy is something like:
  69. 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. 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. 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. 72. No!
  73. 73. No! ๏ To BE number two
  74. 74. No! ๏ To BE number two ๏ one still has to beat number three, four, etc.
  75. 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. 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. 77. 24
  78. 78. 31
  79. 79. 78
  80. 80. Innovation is not the only key to a company´s development
  81. 81. Innovation is not the only key to a company´s development But...
  82. 82. Innovation is not the only key to a company´s development But... ๏ To be innovative is a behavior
  83. 83. Innovation is not the only key to a company´s development But... ๏ To be innovative is a behavior ๏ A state of mind
  84. 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. 85. Requirements
  86. 86. Requirements ๏ A fertile atmosphere
  87. 87. Requirements ๏ A fertile atmosphere ๏ What is that?
  88. 88. Requirements ๏ A fertile atmosphere ๏ What is that? ๏ It can be many things, for people are different
  89. 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. 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. 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. 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. 93. Requirements ๏ No prioritization of, or focus on, direct tangible results
  94. 94. Requirements ๏ Support from direct colleagues and supervisor is of major importance
  95. 95. Sum up: ๏ a fertile atmosphere ๏ No prioritization of, or focus on, direct tangible results ๏ Support from colleagues and supervisor
  96. 96. Is that it?
  97. 97. Is that it? ๏ YES !
  98. 98. Is that it? ๏ YES ! ๏ That is all there is to it to become innovative!
  99. 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. 100. You have all of this under control?
  101. 101. You have all of this under control? Then now it is time to consider the following important factors:
  102. 102. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility
  103. 103. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital
  104. 104. You have all of this under control? Then now it is time to consider the following important factors: ๏ Feasibility ๏ Human capital ๏ Workload
  105. 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. 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. 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. 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. 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. 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. 111. Remember: To be innovative is a state of mind
  112. 112. Therefore... Innovation is independent of budgets, structure and rules
  113. 113. or, like a wise man once said:
  114. 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. 115. The crisis! (financial crisis 2008/2009)
  116. 116. The crisis! (financial crisis 2008/2009) ๏ All that innovation chat sounds fine, but we are in the middle of a financial crisis...
  117. 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. 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. 119. Recognize these statements?
  120. 120. Recognize these statements? Especially in times of crisis it is important to be creative, think out of the box and ...
  121. 121. Recognize these statements? Especially in times of crisis it is important to be creative, think out of the box and ... ... be innovative
  122. 122. Why?
  123. 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. 124. Right! What does that mean?
  125. 125. Right! What does that mean? What are the effects of a crisis on a company?
  126. 126. Right! What does that mean? What are the effects of a crisis on a company? ๏ Less orders and/ or contracts
  127. 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. 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. 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. 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. 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. 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. 133. If your company did not go bankrupt by now, actually all conditions for growth are present
  134. 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. 135. What was innovation again?
  136. 136. What was innovation again? To be one step ahead.
  137. 137. Dare you be one step ahead?
  138. 138. Thank you for your time and attention! Ralph Lambers ralphlambers @ hotmail.com www.xing.com/profile/Ralph_Lambers

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