Presentation on HBR article The new patterns of innovation

1. The New Patterns of
Innovation
BY RASHIK PARMAR, IAN MACKENZIE, DAVID COHN AND
DAVID GANN

2. WHAT IS
INOVATION ?

3. “Innovation is the profitable
implementation of new ideas”

4. Why innovation is important??
An innovation can increase
profits
Innovation make us more
efficient
Innovation provides better goods
and services at a cheaper price

5. Lack Of Innovation

6. •Managers who are able to do
predefined task easily are ill
equipped to do out of the box
thinking task.

7. • When 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.

8. Most companies lack
Innovative Edge

9. A high performance organizational
system that continually creates
promising ideas or solution and
transform them into powerful new
ways of creating value and wealth

10. The Five Patterns
1.Augmenting Products to Generate Data
2.Digitizing Assets
3.Combining Data Within and Across Industries
4.Trading Data
5.Codifying a Distinctive Service Capability

11. Augmenting Products to Generate Data

12. Augmenting Products to Generate Data
Because of advances in sensors, wireless communications, and big
data, it’s now feasible to gather and crunch enormous amounts of
data in a variety of contexts—from wind turbines to kitchen appliances
to intelligent scalpels
Those data can be used to improve the design, operation,
maintenance, and repair of assets or to enhance how an activity is
carried out. Such capabilities, in turn, can become the basis of new
services or new business models.

13. Digitizing Assets
Over the past two
decades, the
digitization of music,
books, and video has
famously upended
entertainment
industries, spawning
new models such as
iTunes, streaming
video services, e-
readers, and more.

14. Combining Data Within and Across
Industries
• The science of big data, along with new IT
standards that allow enhanced data
integration, makes it possible to coordinate
information across industries or sectors in new
ways.

15. Trading Data
The ability to combine disparate
data sets allows companies to
develop a variety of new offerings
for adjacent businesses.

16. Codifying a Distinctive Service Capability
IT systems help
to Automate
Business
Processes
Perfect BUT
Competitive
Advantage
Sell them to
other parties

17. Combining the
Patterns
The five patterns are a
helpful way to structure a
conversation about new
business ideas—and, as we’ve
shown, there are good
examples of all five—but
actual initiatives often

18. Manager Relevance
• Strong technology
presence
• Inputs from external
parties
• Motivated Leadership
• Emotional Commitment

19. THANK YOU
NAME
PRASUNN
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