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Innovation 102 - Tiger by the Tail

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What is Innovation? Debunking the myths about innovation and understanding how innovation can help you grow your business?
The presentation/speech was done for Growth Africa.

Published in: Business
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Innovation 102 - Tiger by the Tail

  1. 1. Tiger by the Tail Innovation 102 Presentation By - Dagmawi B. Degefe
  2. 2. No Companies Description Sector 1 Erk Mead Radio Show Health Care 2 Rohobot Health Care Services Door to door nursing services Health Care 3 Wow Peanut Butter Production Peanut Butter Production/Distribution Food & Beverage 4 Elelan Leathers Bags, Belts, Jackets, and Shoes Clothing and Fashion 5 Rama Solutions Marketing for NGOs Event and Marketing 6 Celavie Burgers Burger and Chicken Food & Beverage 7 Tebita Ambulance Ambulance Services and Trainings Health Care 8 Gaber Garment Bulk clothing and uniforms stitching Clothing and Fashion 9 Meklit.me Design Prints for diasporas Clothing and Fashion > 1,000,000 ETB
  3. 3. YOU MUST HAVE DONE SOMETHING RIGHT?
  4. 4. Tiger by the Tail!!! Today’sSuccessistheenemyofTomorrow’sSuccess!
  5. 5. What did YOU do RIGHT? #ValueManagement
  6. 6. What are YOU doing WRONG? #WasteManagement
  7. 7. THERichCOUPLE
  8. 8. What did THEY do WRONG?
  9. 9. What did THEY do WRONG? They Did Nothing Wrong
  10. 10. They were Busy Managing Daily Business Missed the moment to Rethink/Missed out on the Radical Innovation
  11. 11. INNOVATION!!!
  12. 12. Do You think Your Company is Innovative Enough?
  13. 13. The Innovation Myths 1. Innovation = New Ideas 2. Success = Innovation = Investment [R] 3. Innovation = Technology
  14. 14. The Innovation Truth 1. Almost 0 New Ideas were a Success 2. Not-Invented Here Syndrome 3. 15/25 Innovation Firms, BM Inno.
  15. 15. Innovation What it’s not ONLY about • New Technology • Excessive R&D • New Ideas What’s it’s About • Exploring, Rethinking and Recombining the Way You Do Your Business • LEARNING
  16. 16. Learning TheIllusionofWisdomgap TruthisalwaysRelative Assumption Reality Learning
  17. 17. Reinvest You take Home Profit Reinvest You take Home Learn Profit
  18. 18. Understanding INNOVATION!!!
  19. 19. 4I
  20. 20. 1. INITIATION Analyze Your Business • Data • Numbers • Reactions • Incidents
  21. 21. 3 1 1 3 2 2 3 1 2 2 2 2 4 0 2 2 2 2 3/4 1/4 1/4 3/4 2/4 2/4 3/4 1/4 2/4 2/4 2/4 2/4 4/4 0/4 2/4 2/4 2/4 2/4 Good Needs Improvement Needs Improvement Good Needs Improvement Needs Improvement Very Good Needs Improvement Needs Improvement
  22. 22. No Companies Cyber Presence 1 Erk Mead Good 2 Rohobot Health Care Services Needs Improvement 3 Wow Peanut Butter Production Needs Improvement 4 Elelan Leathers Good 5 Rama Solutions Needs Improvement 6 Celavie Burgers Needs Improvement 7 Tebita Ambulance Very Good 8 Gaber Garment Needs Improvement 9 Meklit.me Needs Improvement
  23. 23. N o Companies Cyber Presence Cyber Absence 1 Erk Mead Sector Dominance Presence, Social Media Presence, 3rd Party Accredit Presence Direct Presence 2 Rohobot Health Care Services Direct Presence, Sector Dominance Presence, 3rd Party Accredit Presence, Social Media Presence 3 Wow Peanut Butter Production Direct Presence, Social Media Presence Sector Dominance Presence (Ambiguity), 3rd Party Accredit Presence, 4 Elelan Leathers Direct Presence, Social Media Presence 3rd Party Accredit Presence Sector Dominance Presence (High Competition) Note – This is more important for some compared to the other
  24. 24. N o Companies Cyber Presence Cyber Absence 5 Rama Solutions Direct Presence, 3rd Party Accredit Presence, Sector Dominance Presence (Ambiguity), Social Media Presence 6 Celavie Burgers Direct Presence, Social Media Presence Sector Dominance Presence (High Competition), 3rd Party Accredit Presence 7 Tebita Ambulance Direct Presence, Social Media Presence, Sector Dominance Presence, 3rd Party Accredit Presence 8 Gaber Garment Social Media Presence, 3rd Party Accredit Presence Direct Presence, Sector Dominance Presence (High Competition), 9 Meklit.me Social Media Presence, 3rd Party Accredit Presence Direct Presence (Ambiguity), Sector Dominance Presence (High Competition), Note – This is more important for some compared to the other
  25. 25. 2. IDEATION Creating Assumptions 1. Creative Imitation 2. Design Thinking 3. Game Thinking
  26. 26. Creative Imitation • How do others run their business and how would it change this business if it was done that way
  27. 27. Products/Services • Innovate WHAT you do
  28. 28. Process • Innovate HOW you do
  29. 29. People • Innovate Who does your job
  30. 30. Paradigm • Innovate Your Position
  31. 31. Paradigm • Innovate Your Position • Innovate Your Business Model
  32. 32. 3. INTEGRATION IT SHOULD SEEM Should Work together with the existing system IT SHOULD BE Should Work separate from the existing system
  33. 33. 4. IMPLEMENTATION • TEST • PEOPLE!!! (70%) • Collect Data • Numbers • Reactions • Incidents
  34. 34. What did YOU do RIGHT? #ValueManagement
  35. 35. What are YOU doing WRONG? #WasteManagement
  36. 36. THANK YOU VERY VERY MUCH #SeeYouAtTheTop

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