INNOVATION – THE KEY TO SURVIVAL
STRAINNO - 6th February 2014

“Any Business Enterprise has two – and only these two
basic...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
Can Anyone Here Prove: Half of 13 is 11

© Copyright 2013. STRAINNO. All Rights Reserved.
© Copyright 2013. STRAINNO. All Rights Reserved.
I

LIKE

PARIS IN THE

THE SPRINGTIME

© Copyright 2013. STRAINNO. All Rights Reserved.
XI + I = X

© Copyright 2013. STRAINNO. All Rights Reserved.
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
“Innovation – Distinguishes Between
A Leader And a Follower.”

Steve Jobs (1955 – 2011)

© Copyright 2013. STRAINNO. All R...
“Innovation Is The Specific Instrument Of
Entrepreneurship. The Act That Endows Resources
With A New Capacity To Create We...
“We Cannot Solve Our Problems With The
Same Thinking We Used When We Created
Them”

Albert Einstein (1879 – 1955)

© Copyr...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
Examples of Innovation?

© Copyright 2013. STRAINNO. All Rights Reserved.
What is Innovation?

Innovation – is a better way of doing things (developing a
product, delivering a service or doing bus...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
He was an American inventor and was the
founder of the McCormick Harvesting Machine
Company
3 Cent US Postage Stamps were ...
was a member of the Wayne County Road
Commission (of Wayne County, Michigan), from
1906 to 1938

Edward N. Hines
(1870-193...
Hospital

© Copyright 2013. STRAINNO. All Rights Reserved.
Mansukhbhai Prajapati With MittiCool - 2005

© Copyright 2013. STRAINNO. All Rights Reserved.
Kunwer Sachdev
© Copyright 2013. STRAINNO. All Rights Reserved.

Tulsi Tanti
•

•

Related Articles – From TOI & ET

http://articles.economictimes.indiatimes.com/2013-09-17/news/42148620_1_chiefmarke...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
• Product Innovation
• Process Innovation

• Business Model Innovation

This categorization is based on “what” is being in...
Business Model Innovation Story 1

Chester F. Carlson

© Copyright 2013. STRAINNO. All Rights Reserved.
Business Model Innovation Story 2

Marc R. Benioff

© Copyright 2013. STRAINNO. All Rights Reserved.
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
• Reverse Innovation
• Social Innovation

• Jugaad Innovation
• Open Innovation

Here the focus is on “how” innovation is ...
What is Reverse Innovation and Why is It Called RI?

Glocalization – is the process of doing innovation in a developing co...
Costs $50,000
and a Single ECG
Scan costs $100

Weights around
140 Kg
Runs on
steady house
current

Comes with a 500 page
...
Costs $400 and a
Single ECG Scan
costs ₡ 10
Weighs less than
a filled coke can

Runs on battery and
once charged can
give ...
Costs $50,000 or
more

Open Heat Surgery in US

Hospitals are profit
making enterprises with
margin of 12% (avg)

© Copyri...
Costs $1,800

Open Heat Surgery in NH – BLR, India
Hospitals are profit
making enterprises
with margin of 15%
(avg)

1.
2....
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
Organizations need Innovation for
one purpose only: To Survive

In 1917 Forbes published his first list of 100 largest Ame...
What Factors Affect Survivability Of Any
Business and How Are These Factors
Changing?

© Copyright 2013. STRAINNO. All Rig...
Factors Affecting Business Survival

• Customers (Change in awareness, perception, demographics etc)
• Technology

• Chann...
How Are These Factors Changing: Some Facts

© Copyright 2013. STRAINNO. All Rights Reserved.
Customer

80% of big companies described themselves as delivering “superior”
service, but only 8% of customers say they ha...
Environment

India will add a million new workers every month for the next two
decades. This is equivalent to the entire p...
Demographics

29% Millennials find love through FB, while 33% are dumped via wall
posts or text messages.

Source: Brian S...
Resources

The economic value of assets at risk from floods is expected to be about
$45 trillion by 2050.

Source: OECD “W...
Technology

80% of data used on mobile devices is received via WiFi connections to
fixed networks.

Source: OECD Communica...
Innovative Companies

These companies have
established a complete,
structured, scalable
approach to Innovation

They have ...
• A Small Creativity Test

• Some Quotes on Innovation
• What is Innovation?

• Some Innovation Stories
• Types of Innovat...
You need to Innovate: To Survive

Innovation can help you:

 Find new ways of working

 Find new ways to make money

 C...
Guidelines for Innovation

 Try to find more & more problems – and explore the
hidden opportunities

 Be Flexible and Op...
Thank You
Deepak.chaudhury@strainno.com
Web – www.strainno.com
Mobile – 9686 898 400
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Innovation - The Key To Survival

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This presentation intends to explain a few facts about Innovation, including:
What is Innovation?
How & What Innovations are affecting our lives today?
Types of Innovation
Trends in Innovation
Why Organizations need Innovation?
What are the factors that affects the survivability of a business today?
How these factors are changing and their implications?
Guidelines for Innovation

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Innovation - The Key To Survival

  1. 1. INNOVATION – THE KEY TO SURVIVAL STRAINNO - 6th February 2014 “Any Business Enterprise has two – and only these two basic functions: Marketing & Innovation. A Business is set apart from all other human organizations by the fact that it markets a product / service. Peter F. Drucker (1909 – 2005) The second function of a business therefore is Innovation. It is not enough for the business to provide just any economic goods or services; it must provide better and more economic ones. It is not necessary for a business to grow bigger; but it is necessary that it constantly grow better.”
  2. 2. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  3. 3. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  4. 4. Can Anyone Here Prove: Half of 13 is 11 © Copyright 2013. STRAINNO. All Rights Reserved.
  5. 5. © Copyright 2013. STRAINNO. All Rights Reserved.
  6. 6. I LIKE PARIS IN THE THE SPRINGTIME © Copyright 2013. STRAINNO. All Rights Reserved.
  7. 7. XI + I = X © Copyright 2013. STRAINNO. All Rights Reserved.
  8. 8. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  9. 9. “Innovation – Distinguishes Between A Leader And a Follower.” Steve Jobs (1955 – 2011) © Copyright 2013. STRAINNO. All Rights Reserved. Innovation Has Nothing To Do With How Much R&D Dollars You Have. When Apple Came Up With The MAC, IMB Was Spending At Least 100 Times On R&D. It’s Not About Money. It’s About The People You Have, How You Are Led And How Much You Get It.
  10. 10. “Innovation Is The Specific Instrument Of Entrepreneurship. The Act That Endows Resources With A New Capacity To Create Wealth” Peter F. Drucker (1909 – 2005) © Copyright 2013. STRAINNO. All Rights Reserved. “Defending Yesterday (i.e. not innovating) Is Far More Riskier Than Making Tomorrow”
  11. 11. “We Cannot Solve Our Problems With The Same Thinking We Used When We Created Them” Albert Einstein (1879 – 1955) © Copyright 2013. STRAINNO. All Rights Reserved.
  12. 12. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  13. 13. Examples of Innovation? © Copyright 2013. STRAINNO. All Rights Reserved.
  14. 14. What is Innovation? Innovation – is a better way of doing things (developing a product, delivering a service or doing business) which has a commercial implication and affects people’s lives positively; sometimes also seen as a better solution to a problem with a commercial implication and a positive impact over lives of people; © Copyright 2013. STRAINNO. All Rights Reserved.
  15. 15. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  16. 16. He was an American inventor and was the founder of the McCormick Harvesting Machine Company 3 Cent US Postage Stamps were issued in 1940 to commemorate C.H. McCormick 1975, McCormick was inducted into the Junior Achievement U.S. Business Hall of Fame Cyrus H. McCormick (1809-1884) © Copyright 2013. STRAINNO. All Rights Reserved.
  17. 17. was a member of the Wayne County Road Commission (of Wayne County, Michigan), from 1906 to 1938 Edward N. Hines (1870-1938) In 1935, Hines was awarded the George S. Bartlett Award for outstanding contribution to highway progress In 1972, he was inducted posthumously into the Michigan Transportation Hall of Honor for his lifesaving innovation In 2011, was honored with the first “Paul Mijksenaar Design for Function” Award © Copyright 2013. STRAINNO. All Rights Reserved.
  18. 18. Hospital © Copyright 2013. STRAINNO. All Rights Reserved.
  19. 19. Mansukhbhai Prajapati With MittiCool - 2005 © Copyright 2013. STRAINNO. All Rights Reserved.
  20. 20. Kunwer Sachdev © Copyright 2013. STRAINNO. All Rights Reserved. Tulsi Tanti
  21. 21. • • Related Articles – From TOI & ET http://articles.economictimes.indiatimes.com/2013-09-17/news/42148620_1_chiefmarketing-officer-indian-consumer-consumer-confidence http://articles.economictimes.indiatimes.com/2013-12-30/news/45711162_1_tata-motorsnano-cheapest-car © Copyright 2013. STRAINNO. All Rights Reserved.
  22. 22. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  23. 23. • Product Innovation • Process Innovation • Business Model Innovation This categorization is based on “what” is being innovated © Copyright 2013. STRAINNO. All Rights Reserved.
  24. 24. Business Model Innovation Story 1 Chester F. Carlson © Copyright 2013. STRAINNO. All Rights Reserved.
  25. 25. Business Model Innovation Story 2 Marc R. Benioff © Copyright 2013. STRAINNO. All Rights Reserved.
  26. 26. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  27. 27. • Reverse Innovation • Social Innovation • Jugaad Innovation • Open Innovation Here the focus is on “how” innovation is being done © Copyright 2013. STRAINNO. All Rights Reserved.
  28. 28. What is Reverse Innovation and Why is It Called RI? Glocalization – is the process of doing innovation in a developing country (e.g. US, Europe) and then taking that to developing countries like India, China & Brazil; whereas RI stands for the process of doing innovation in emerging countries and then taking them to developed countries Reverse Innovation is called so, because it is reverse to the traditional way and flow of innovation known as Glocalization √ RI @ GE √ RI @ NH √ RI in Thailand Reverse Innovation Stories √ RI @ Logitech √ RI @ P&G √ RI @ EMC © Copyright 2013. STRAINNO. All Rights Reserved. √ RI @ Deere & Company √ RI @ Harman √ RI @ PepsiCo
  29. 29. Costs $50,000 and a Single ECG Scan costs $100 Weights around 140 Kg Runs on steady house current Comes with a 500 page manual and expert technicians are needed to use this © Copyright 2013. STRAINNO. All Rights Reserved.
  30. 30. Costs $400 and a Single ECG Scan costs ₡ 10 Weighs less than a filled coke can Runs on battery and once charged can give up to 750 ECG scans © Copyright 2013. STRAINNO. All Rights Reserved. Easy enough controls with very few buttons and needs minimal / no training at all Though started in India currently is being sold at 225 countries across the globe including the USA
  31. 31. Costs $50,000 or more Open Heat Surgery in US Hospitals are profit making enterprises with margin of 12% (avg) © Copyright 2013. STRAINNO. All Rights Reserved. Quality is determined by mortality rate within first 30 days from operation = 2% (avg)
  32. 32. Costs $1,800 Open Heat Surgery in NH – BLR, India Hospitals are profit making enterprises with margin of 15% (avg) 1. 2. 3. 60% of its patients are treated at a discounted price or for free • • • © Copyright 2013. STRAINNO. All Rights Reserved. Mortality rate within first 30 days from operation = 1.2% (avg) Indians have relatively weak hearts Indians do not go for routine health checkups; hence by the time they end up at the surgery, the conditions have worsened Pollution in Indian is too high which has a negative impact on survival after NH is opening its facilities in Cayman Island in USA, with a capacity of 2000 beds in partnership with Government of Cayman Island Largest no. Of paediatric heart surgeries in the world Asia’s largest cardiac care centre
  33. 33. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  34. 34. Organizations need Innovation for one purpose only: To Survive In 1917 Forbes published his first list of 100 largest American companies. In 1987 Forbes republished this original list and did a comparison to find: 61 of those companies did not exist and out of remaining 39, only 18 had managed to remain in top 100 Source: Forbes’ Site Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there in 2010. Source: Brian Solis’ Future of Business © Copyright 2013. STRAINNO. All Rights Reserved.
  35. 35. What Factors Affect Survivability Of Any Business and How Are These Factors Changing? © Copyright 2013. STRAINNO. All Rights Reserved.
  36. 36. Factors Affecting Business Survival • Customers (Change in awareness, perception, demographics etc) • Technology • Channels of Business (Networks) • Environmental Changes – A worsening global economy • Resources – An avalanche of new regulations to come © Copyright 2013. STRAINNO. All Rights Reserved.
  37. 37. How Are These Factors Changing: Some Facts © Copyright 2013. STRAINNO. All Rights Reserved.
  38. 38. Customer 80% of big companies described themselves as delivering “superior” service, but only 8% of customers say they have experienced “superior” services from these companies. Source: The New Yorker In the past year, 2 in 5 consumers or more in most markets indicate that they have not completed a transaction or made an intended purchase because of poor customer service. Source: America Express Global Customer Service Barometer $83 billion is estimated to be lost by businesses (only in US) every year due to poor customer service. Source: Genesys It takes 12 positive experiences to make up for one unresolved negative experience. Source: HelpScout © Copyright 2013. STRAINNO. All Rights Reserved.
  39. 39. Environment India will add a million new workers every month for the next two decades. This is equivalent to the entire population of Sweden joining the labour force in India, every year for the next two decades. Source: World Bank, 2013 In Purchasing Power Parity (PPP) terms, India became the 3rd largest economy in the world in 2011, behind the US and China, and pushing Japan to the 4th place. Source: World Bank, 2013 Small and Midsized businesses account for over 99% of all businesses in developed economies and 40-70% of value added in the economy . Source: OECD “Electronic & Mobile Commerce”, 2013 Note: PPP is a technique used to determine the relative value of different currencies © Copyright 2013. STRAINNO. All Rights Reserved.
  40. 40. Demographics 29% Millennials find love through FB, while 33% are dumped via wall posts or text messages. Source: Brian Solis’ Future of Business, 2013 Gen Y will form 75% of the workforce by 2025 and are actively shaping corporate culture and expectations. Only 11% define having a lot of money as a definition of success. Source: Brian Solis’ Future of Business, 2013 Only 7% of Gen Y works for a Fortune 500 company as start-ups dominate the workforce for this demographic. Source: Brian Solis’ Future of Business, 2013 © Copyright 2013. STRAINNO. All Rights Reserved.
  41. 41. Resources The economic value of assets at risk from floods is expected to be about $45 trillion by 2050. Source: OECD “Water: Governments Must Deal with Rising Risks, 2013 By 2050 more than 40% of the world’s population will live under severe water stress and nearly 20% could be exposed to floods. Source: OECD “Water: Governments Must Deal with Rising Risks, 2013 In 1990, girls primary school enrolment rate in developing countries was only 86% of boys. By 2011, it was 97%. Source: World Bank, 2013 Asian students account for 53% of all students studying abroad worldwide – the largest numbers of international students are from China, India and Korea. © Copyright 2013. STRAINNO. All Rights Reserved. Source: Pew Research Center, 2013
  42. 42. Technology 80% of data used on mobile devices is received via WiFi connections to fixed networks. Source: OECD Communications Outlook, 2013 The average subscription rate of mobile Internet access in developed countries as a whole rose to 56.6% in June 2012, up from just 23.1% in 2009. Source: OECD Communications Outlook, 2013 In 2010, Hans Vestberg, CEO of Ericsson, predicted that by 2020, 50 billion devices would be connected to the internet. Source: GIGAom, 2013 The next wave of computing is “wearables” (or “drivables” “flyables”, “scannables”) © Copyright 2013. STRAINNO. All Rights Reserved. Source: Pew Mary Meeker’s Internet Trends, 2013
  43. 43. Innovative Companies These companies have established a complete, structured, scalable approach to Innovation They have processes to identify, evaluate and prioritize Innovation projects © Copyright 2013. STRAINNO. All Rights Reserved. And have a Culture that promotes and rewards Innovative thinking
  44. 44. • A Small Creativity Test • Some Quotes on Innovation • What is Innovation? • Some Innovation Stories • Types of Innovation • Trends in Innovation • Why Innovation(For Businesses)? • Why Innovation(For Professionals)? © Copyright 2013. STRAINNO. All Rights Reserved.
  45. 45. You need to Innovate: To Survive Innovation can help you:  Find new ways of working  Find new ways to make money  Create new business opportunities  Create new products, services and processes  Improve old products, services and processes  Develop solutions to complex business problems  Revitalize markets  See problems as opportunities  Become more productive  become indispensable to your organization © Copyright 2013. STRAINNO. All Rights Reserved.
  46. 46. Guidelines for Innovation  Try to find more & more problems – and explore the hidden opportunities  Be Flexible and Open Minded  Always explore more than one way of doing things  Improve continuously  Create an Innovation Infrastructure which is Comprehensive, Structured, Sustainable and Scalable © Copyright 2013. STRAINNO. All Rights Reserved.
  47. 47. Thank You Deepak.chaudhury@strainno.com Web – www.strainno.com Mobile – 9686 898 400

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