Management of InnovationGopaldas Pawan KumarExcerpts from “ Corporate Creativity”-The Winning EdgeBy Pradip N Khandwalla
Nature of Innovation• Innovation could be internal or an external for acompany to develop.• There are technical and Non- t...
Technological Innovationsand their Management• Technological Innovations could be Process or ProductInnovations. Top Manag...
Inter – Organizational and NetworkInnovations• Collaboration of competitors or rivals is takingplace for mutual growth• Ex...
Design of a Successful InnovativeOrganization: McKinsey’s7-S FrameworkS . No Sub System Innovative Features1 Shared Values...
Training for Innovation• Creativity Skills can be learned and applied .• Training individuals on creativity involveseducat...
Management of Innovation• Management Innovations are novel changes indecision making in areas like Marketing , HR, Finance...
Agents of InnovationThere are many agents for innovation depending on thearea of concern . They could be in an Organizatio...
Skills for Sponsoring InnovationsThe Change Agents for Innovation are calculated risktakers and have the ability to spot o...
EndGDP GDP10
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Management of Innovation

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Presentation covers Nature of Innovation , Technological and Network Innovations , Design of Successful Innovative Organisation, Training and Management of Innovation ,Agents of Innovation

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Management of Innovation

  1. 1. Management of InnovationGopaldas Pawan KumarExcerpts from “ Corporate Creativity”-The Winning EdgeBy Pradip N Khandwalla
  2. 2. Nature of Innovation• Innovation could be internal or an external for acompany to develop.• There are technical and Non- technicalinnovations.• Requires resources to be allocated• Innovations means embarking on uncertain voyage• „Skunk works‟ and Dedicated teams are formed.• Innovation also has to tackle politics and „market‟it properly.• Mind sets differences need to be sorted out .• Innovation has two phases – Design of Innovationand implementation of the same in a professionalway.GDP2
  3. 3. Technological Innovationsand their Management• Technological Innovations could be Process or ProductInnovations. Top Management involvement.• „Big Bang‟ Innovations (Revolutionary) and„Suggestion Box‟ innovations (Small , Low Key)• Only 2-3 % of the Innovations are only commerciallysuccessful.• „Gate Keepers‟ who identify new ideas are to beencouraged . Cross Functional Teams to be formed fora collaborative approach.• Major blocks of innovations are – internal barriers tocommunication, inadequate business acumen &creativity , poor follow up etc .sGDP3
  4. 4. Inter – Organizational and NetworkInnovations• Collaboration of competitors or rivals is takingplace for mutual growth• Ex: Sony and Ericsson, Maruti and Fiat , Appleand Samsung are examples.• Network innovations may be tying up with rivalsor vendors or distributors.• Ex: IT companies with Banks, Insurancecompanies with Banks, Mobile Towers commonfor different operators (Airtel, Reliance, Airceletc)GDP4
  5. 5. Design of a Successful InnovativeOrganization: McKinsey’s7-S FrameworkS . No Sub System Innovative Features1 Shared Values Quality and Service , Originality and newness,Importance of employees , Profits etc2 Styles Orientation towards excellence, mutual trust andcooperation3 Systems Systems that improve innovativeness,communication , provide control and rewards.4 Structure Organic that evolves and grows , flexible ,encourages team work, decentralized small groups5 Staff Entrepreneurial, diversified , cross functional6 Skill Divergent thinking, integration Skills and lateralthinking7 Strategy Innovation strategies that are radical, incremental– product, process and administrative.GDP5
  6. 6. Training for Innovation• Creativity Skills can be learned and applied .• Training individuals on creativity involveseducation , development and focus on jobrelated skills and knowledge.• It also involves changing attitudes, expandinghorizons and developing creative potential.• Training for innovation requires changingthinking styles from linear to lateral.• For maintaining operational excellence and tosustain growth during business cycles.GDP6
  7. 7. Management of Innovation• Management Innovations are novel changes indecision making in areas like Marketing , HR, Finance ,Operations and in their related fields.• Technological Innovations are easier to measure interms of costs and benefits ,but, ManagementInnovations are political in nature and affectsdecision making quality.• Once institutionalized , Management Innovationscannot be discarded easily.• Diffusion of Management Innovations in aorganization is a difficult process due to factors ofresistance to change by employees .GDP7
  8. 8. Agents of InnovationThere are many agents for innovation depending on thearea of concern . They could be in an Organization orin Society .The agent of innovation should have the skills to mangeinnovation diffusion and implementation . He /Sheshould be able to face opposition and develop a teamfor implementation.Examples:Entrepreneurs ,Venture Capitalists, Fashion Designers, Film Stars , Leaders etcGDP8
  9. 9. Skills for Sponsoring InnovationsThe Change Agents for Innovation are calculated risktakers and have the ability to spot opportunities. Theyhave the following skills:1. Ability to identify Costs involved and potentialoutcomes.2. Ability to identify the significant risks in the venture.3. Ability to work out “What –if” scenarios.4. Ability to take higher risks for higher pay- off.5. Knowledge of high opportunity domains.6. Ability to convert threats into opportunities, reduceweaknesses and reinforce strengths.GDP9
  10. 10. EndGDP GDP10

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