Innovation is often placed on the back burner when business owners grapple with constant change in marketing trends, compliance and customer requirements. Then we just end up doing the same old thing repeatedly, expecting different results - and we all know how ineffective that is. We explore the process of internal innovation within a business; when to do it, what to do and how to do it, using some of the proven business methodologies gleaned from business schools around the world.

1. Master Class:
When to Innovate in Your Business
Bruce Wade

2. Bruce Wade
Batman-for-Business
The Innovator

3. Personal Motivation / Attention
Time
Motivation
Innovation = Renewed Hope
Second Wind
Initial Results
Fading interest
Where most
People give up

4. Product Life Cycle
Time
Effectiveness
Introduction
Popularity
Plateau
Decline
Innovation Required

5. Business Life Cycle Curve
Start
Early Success
Plateau
Decline
Death
Innovation = Renewed Hope

6. What is Invention?
Invention is the "creation of a product or
introduction of a process for the first time."
Thomas Edison was an inventor

7. What is Innovation?
Innovation happens when someone "improves
on or makes a significant contribution" to
something that has already been invented.
Steve Jobs was an innovator

8. What makes an Innovator
Business?
Curious Minds Not Happy with the
Status Quo
Ability to explore and experiment
Has resources
Networked
Coachable
Stickability

9. Barriers to Success
1. Attitude
2. Time
3. Resources
4. Network
5. Ego
6. Money

10. Gartner Hype Cycle
Time
Visibility
Technology Trigger
Peak of inflated Expectations
Trough of disillusionment
Slope of enlightenment
Plateau of productivity

11. Innovation Diffusion
Innovators
Techies
2.5%
Try It
Early Adopters
Visionaries
13.5%
Get ahead of the heard
Early Majority
Pragmatics
34%
Stick with the heard
Late Majority
Conservatives
34%
Hold on
Laggards
Sceptics
16%
No Way

12. Technology S curve
Time
Performance
New innovation
Tech Improvement
Mature Technology

13. Technology S curve
Time
Performance

14. 7 Principles of Innovation
1. Quest for continuous learning
2. Learn from mistakes
3. Scan for opportunities
4. Embrace ambiguity
5. Balance different view points
6. Express your thoughts
7. Recognise ‘systems’ relationships

15. Types of Innovation
• Market Pull
– Problem exists, need solution, innovation, sales
• Technology Push
– Technology breakthrough – create a need, sales
• Frugal
– How to do more with less, cost saving, environment
• Marketing
– Barrier to market, innovation, sales

16. Quote
“Be innovative,
but always learn
from those before you”

17. Bruce Wade
bruce@em-solutions.co.za
www.em-solutions.co.za