this presentation is about how there are problems with new innovation in the old and new businesses and how to overcome all these problems.

1. THE NEW PATTERNS OF
INNOVATIONS
PRESENTED BY:
ABHISHEK D PAWAR
SRM INSTITUTE OF SCIENCE AND TECHNOLOGY

2. THE PROBLEMS
•Managers who are skilled at executing
clearly defined strategies are ill equipped
for out-of-the-box thinking.
•Good ideas do emerge, they’re often
doomed because the company is organized
to support one way of doing business and
doesn’t have the processes or metrics to
support a new one.

3. The Challenge
Established companies are notoriously bad at
finding new ways to make money, despite the
pressure on them to grow.

4. The 3 classical ways to overcome the
problems
1.Competency based
2.Customer Focused
3.Follow the megatrends

5. But these methods are not so efficient
with the current bust in information
and data, so now what?
Now we use the advances in IT facilitate to
hunt for new business values in 5 distinct
patterns.

6. PATTERN 1: AUGMENTING
PRODUCT TO GENERATE
DATA
•Develop smart products to
collect data and enhance
business activities.
•Innovate upon the products
such that they give valuable and
error free data for business to
grow upon.

7. PATTERN 2: DIGITIZE ASSETS
• In digitizing we look into products that are
digital in nature.
• A digital product has higher capability of being
improved for the benefit of the business
• If you do not digitize your assets, they will
become liabilities overtime.

8. Pattern 3: Combining data within and
across industries
• This marks the start of big
data
• Build services based on you
data for other industries
• Insights from your data and
others data can do wonders.

9. Pattern 4: Trading data
• Worked hard digitizing, now you can sell this raw data
to other industries for their products
• This allows companies to develop a variety of new
offerings for collaborative businesses.
• Like cell phone service identifies traffic jams by seeing
where customers in cars are slowed down and shares
the information with a navigation-device company.

10. Pattern 4: Codifying a distinctive service
capability
• Any process that is best in class but not central to a
company’s competitive advantage can thus be turned
into a profitable business
• Companies have a practical way to take the process
they’ve perfected, standardize them, and sell them to
other parties.

11. One way to find the
innovative idea is to ask the
right questions

12. • What data do we have?
• What data can we access that we are not
capturing?
• What data could we create from our products or
operations?
• What helpful data could we get from others?
• What data do others have that we could use in a
joint initiative?

13. Now with answers to the previous
questions we now include question’s on
which pattern or combination of
patterns that could be applicable to
business context.

14. MANAGERIAL
RELEVANCE

15. • Most innovative
venture are disruptive
rather than sustaining,
so it will need a strong
leadership which can
overcome obstacles
set by the established
culture.

16. •Managers should come up with
systematic plans to make proper use
the larger amount of data produced