This presentation explains about What is innovation and how it is important for business. What are the different innovation pattern and how they affect business and clients. It also describe how this is in reference with managers of India.

1. BY- Ankita Kumari
SRM University
The New Pattern Of
INNOVATION

2. What is innovation ???

3. INNOVATION !!!!!!
• The product/technology
that changes their
industry or create new
industries.
• Ideas are innovative.
• Products are innovation.

4. 5
PATTERNS
OF
INNOVATION

5. 1.
Augmenting
product
2.
Digitizing assets
3.
Combining Data
4.
Trading Data
5.
Codifying a
Distinctive Service
Capablity

6. 1.Augmenting Product.
• Collecting data with help of
exiting technology.
• This data is used to create
value for customer.

7. 2. Digitizing Assets
• Digitized versions of physical assets
are transforming the way people
operate in industries.
• Sophisticated analytic and
visualization techniques have
improved design in many
manufacturing industries

8. 3.Combining Data within & Across
Industries.
• How to integrate data with
the data held by other
industries to create new
values.
• It revolve around new value
creation.

9. Example:
• IBM developed a network of sensors in the home that monitor not only
conditions such as temperature, CO2 level, and water usage, but also
what constitutes “normal” behavior patterns for example, regular
cooking times. Abnormalities trigger a call to a relative or a friend, who
can check that all is well with the senior and alert the appropriate city
service if necessary.
• Allowed many more retirees to stay in their homes, thereb
y reducing the need to build and run special accommodati
ons for them.

10. 4.Tradind Data
• The ability to combine
disparate data sets allows
companies to develop a
variety of new offerings
for adjacent businesses.

11. 5.Codifying a Distinctive Service
Capability
• IT system have help to automate business.
• Now companies have practical way to take the process
es they have perfected, standardize them and send th
en to other parties.
• Any process that is best in class but not central to co
mpany’s competitive advantage can thus be turned int
o a profit business.

12. Cloud computing has put such
opportunities with in even closure reach
because it allows companies to easily
distribute software, simplify version
control, and offer customers “pay as you
go” pricing.

13. M
A
N
A
G
E
R
I
A
L
INSIGHTS!!

14. • In Digital and Information economy,
Managers ought to act virtually first.
• We have full fertile data land ,managers
could act to bring beautiful trees and a
new business idea.
• There is no longer shortage of data.
• Managers should come up with systematic
plan to make proper use of large amount
of data.