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The Roots of Innovation
 

The Roots of Innovation

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This is the presentation I used to start the 2011 activities of the CIET commission ...

This is the presentation I used to start the 2011 activities of the CIET commission
(Innovation & New Tech) at the Engineers Association of Rome.
I explored the roots of innovation explaining its purpose in any organization.
The definition of business model is essential to pursue innovation and to do that it is important to understand what exactly is and which is the underlying philosophy.
The real aim of design in any successful product or service is highlighted and explained as well.

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    The Roots of Innovation The Roots of Innovation Presentation Transcript

    • Engineers Association of Rome raffaele.vincenti2@gmail.com Raffaele Vincenti – 2011 VP for Innovation Innovation and New Technologies The Roots of Innovation
    • The company in the society In modern society, the entrepreneurial world is a key driver for development and welfare of individuals.
    • Each company makes sense if there are the conditions to create a business. The company in the society
    • Business definition A business is characterized by three elements: • The customers served • The needs of customers to satisfy • The technology (or know-how) used
    • The business pillars BUSINESS INNOVATION MARKETING Peter Drucker
    • Vision Innovation is a key for the progress of society ...
    • Vision ... and it is essential to define the business strategy.
    • Vision Implement, promote and support innovation is an indispensable task for a society that wants to pursue freedom, prosperity and growth.
    • What is innovation? Transformation of knowledge into money
    • What is not? RESEARCH Transformation of money into knowledge
    • The purpose of innovation Value creation
    • The purpose of innovation In the process of value creation the unifying element must be found between:  ideas  technologies  economic results Business model
    • Business Model ORGANIZATION Business initiative Potential Value A business model explains how, through a business initiative, an organization translates its potential into value.
    • Specify a value proposition or better still What is the value for users? Purpose of a business model
    • Identify a market segment or better still Who are the potential users? Purpose of a business model
    • Identify the value chain or better still Starting from the raw material to get to the end customer Purpose of a business model
    • Describes the organization's position in the value chain and identifies the complementary activities Purpose of a business model
    • Specifies the mechanism of profit creation given the cost and profit margins Purpose of a business model
    • Identifies a competitive strategy to achieve and maintain a competitive advantage over the competition Purpose of a business model
    • Business model creation Problem definition Solution (product/service) Value proposition Construction of a scenario Identification of enabling technologies Strategic alliances Identification of complementary assets Business Model Innovation Source: (c) 2011 Alberto Di Minin www.diminin.it - Business Model Innovation
    • Structure of a business model WHOHOW WHAT HOW MUCH Activity Perspective Product/Service Customers Perspective Financial Perspective Strategic Partners Key Activities Key resources Customers Relation Distribution channels Customers segment Costs Profits Value proposition Source: (c) 2011 Alberto Di Minin www.diminin.it - Business Model Innovation
    • The four levels of innovation Business model innovation Technological innovation Innovation in products and services Business process innovation
    • The added value of a product is less and less related to the size of performance and more to the ability to evoke unique experiences The purpose of innovation
    • The purpose of innovation Give the opportunity to live an experience
    • The purpose of innovation Samsung LE37B650 :TV LCD, 37“, widescreen, full HD LG 37LH400 :TV LCD, 37“, widescreen, full HD Bravia 37W5500:TV LCD, 37“, widescreen, full HD Ford Fiesta: segmento B, diesel, 1300cc, euro 4 FAP, Esp Fiat Punto: diesel, 1300cc, euro 4 FAP, Esp Opel Corsa: diesel, 1300cc, euro 4 FAP, Esp HP PavilionS3560: 1.6 GHz Intel Pentium Dual-Core, Ram 2 GB, 160 GB hard disk Acer Aspire IE-3214 : 1.6 GHz Intel Pentium Dual-Core, Ram 2 GB, 160 GB hard disk Dell Vostro 410 : 1.6 GHz Intel Pentium Dual-Core, Ram 2 GB, 160 GB hard disk
    • The purpose of innovation Experience in a market of products / services increasingly undifferentiated is the main competitive strength
    • The purpose of innovation The experience associated with a product or a service: • justifies the price paid by the consumer; • engages the customers; • creates word of mouth.
    • The designed experience
    • The designed experience Experience becomes the new design paradigm
    • The designed experience The focus of the purchase process moves from the possession of the product to the experience enabled by the product
    • The economic value moves toward the experience Value Raw materials Goods Services Experiences Casual experience Predictable experience Designed experience • inconsistent • unaware • consistent • aware • undifferentiated • consistent • aware • differentiated Level of customization
    • Experience as progressive product customization Price definition Enanced (premium price) From the market undifferentiated differentiated Competitive positioning Customers needs Relevant to the customers Irrelevant to the customers Raw material extraction Products manufacture Services delivery Access to the experience Customization Customization Massification Massification
    • The purpose of innovation The experience takes the consumer at the center
    • The purpose of innovation In a world overcrowded by information
    • are effective only those that capture our attention
    • Our attention is directed towards those phenomena that lead to interesting or pleasant experiences
    • But how far have we come? At what stage of progress are we?
    • How far have we come? In every age some "enlightened" have believed that we had reached the peak of knowledge.
    • The shortsightedness of the greats of the past The cinema is an invention without a future. (Antoine Lumière - father of the brothers who invented the cinema – 1895)
    • Americans need the telephone, not us: we have many kids who act as messengers. (Sir William Preece, British Post Office Director – 1876) The shortsightedness of the greats of the past
    • The shortsightedness of the greats of the past This 'telephone' has too many shortcomings to be seriously considered as a means of communication and has no value to us. (Internal note of the Western Union Telegraphs - 1876)
    • Flying machines heavier than air? Impossible! (Lord Kelvin, member of the Royal Society of Science - 1895). The shortsightedness of the greats of the past
    • Everything that can be invented has already been invented (Charles H.Duell, Commissioner, US Office of Patents - 1899) The shortsightedness of the greats of the past
    • I think there is a world market for ... mah I would say 5 computers (Thomas Watson, IBM - 1943) The shortsightedness of the greats of the past
    • There is no reason for people to have a PC at home (Ken Olson, Digital Equipment Corporation - 1977) The shortsightedness of the greats of the past
    • The Internet will collapse catastrophically in 1996 (Robert Metcalfe, inventor of the Ethernet) The shortsightedness of the greats of the past
    • Reading the opinions of the past today we sense that there is still much to be invented But how far have we come?
    • We need a paradigm shift ... But what we need?
    • If you do what you always did you'll get what you always got. Anthony Robbins The why of change
    • … building on past successful experiences. What we need?
    • Approach to innovation The approach to the development of products/services of success should give equal importance to the following three aspects: • ability to meet real needs  People • economic sustainability of the offer  Business • potential of technology  Technology
    • Approach to innovation Business (sustainable) People (desirable) Technology (possible) DESIGN
    • Design comes back to play a central role in innovation. The design should create experiences and not only products.
    • The experience is the emotional and cognitive relationship of oneself in the world and occurs in a context. Innovation design oriented
    • Approach and skills Economic Humanistic Technical Innovation is characterized by a multidisciplinary mix of expertise.
    • Approach and skills Economic Humanistic Technical The skills do not fall exclusively in the sphere of the designer but become a company asset.
    • Approach and skills Economic Humanistic Technical The approach is based on observation of reality and the search for concrete and effective solutions to the problem.
    • Inductive approach to innovation (starting from the specific problem) Approach and skills
    • “What to do" is less important than "how to do it" (the effective approach drive to success) Approach and skills
    • Communicating through prototypes (a more effective way of promoting an idea) Approach and skills
    • Look around to get inspiration (gather elements to get creative ideas) Approach and skills
    • Leave space to the randomness (an innovative idea can be born by chance) Approach and skills
    • Changing mindset Overcoming the individual vision
    • The key element KNOWLEDGE CREATIVITY Sir Ken Robinson
    • The wrong slogan KNOWLEDGE IS POWER KNOWLEDGE IS JUST POTENTIAL Albert Einstein
    • The slogan ACTION IS POWER
    • The tactic READY, AIM … FIRE! READY, FIRE … AIM!
    • Identify the context HUMAN BEING ENVIRONMENT KNOWLEDGE PSICHOLOGY INSTITUTIONS COMPANIES FINANCE MARKETPLACE
    • The alchemy of success
    • The power of psychology Napoleon Hill
    • Would you ever have believed it? They did! The power of psychology
    • The intuition We can accomplish all that our mind can conceive. Just want it… … and be ready to pay the price.
    • The target Results
    • The phylosophy Consistent focus Massive action
    • Mission Promote the implementation of innovation at strategic and tactical levels and the spread of its culture, supporting it for the benefit of society through the professionalism and the value that engineers can provide in their different areas of specialization.
    • End of the presentation Thanks for your attention Raffaele Vincenti raffaele.vincenti2@gmail.com
    • References • Peter Drucker – Innovation and Entrepreneurship • Alberto Di Minin (Scuola Superiore S. Anna) – Business Model Innovation • Andrea Granelli (Kanso) - Innovation Lab 2010 • Guy Kawasaki – The Art of the Start • Anthony Robbins – Unlimited Power • Napoleon Hill – Think and Grow Rich