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Creating An Innovative Culture Narrated

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Based on a study of 1000 businesses and finding the characteristics of those that succeeded

Published in: Business, Education

Creating An Innovative Culture Narrated

  1. 1. Creating an Innovative Culture
  2. 2. These Guy Are Innovators
  3. 3. <ul><li>Mentored over 250 business executives and entrepreneurs </li></ul><ul><li>Successfully launched 28 new business ventures </li></ul><ul><li>Lead the Planning for a Solar powered LTA for a car company </li></ul><ul><li>Strategic partnering for Robotic stage light for a camera mount company </li></ul><ul><li>Market development Programmable LED displays systems for a communications company </li></ul><ul><li>Research and development of an automotive R&D strategy paper for Canada </li></ul><ul><li>Facilitated the turnaround of a unique SUV company in Canada </li></ul><ul><li>The strategic planning for a rotary refractory feeder for a casting operation </li></ul><ul><li>The validity analysis for a programmable dock lock system for a car company </li></ul><ul><li>Determined the most effective strategy to introduce a new kind of lead for a power generation company </li></ul><ul><li>Lead the launch of full replacement for gasoline for an entrepreneur </li></ul><ul><li>Super Focus Group to develop plans to manage a slag pile for a steel company </li></ul><ul><li>Developed funding and established the company to launch a new type of hockey stick shaft </li></ul><ul><li>Created, funded and successfully launched a business game </li></ul>Some Unique Projects
  4. 4. Six Factors For Venture Success <ul><li>Clear understanding of the customer needs </li></ul><ul><li>Efficient new product development processes </li></ul><ul><li>Effective internal and external communication skills </li></ul><ul><li>Major emphasis on marketing efforts throughout the process </li></ul><ul><li>Confidence in matching market opportunities to technical “know-how” </li></ul><ul><li>Good leadership skills </li></ul>
  5. 5. 7 FEATURES OF SUCCESSFUL LEADERS <ul><li>Ability to acquire critical content information </li></ul><ul><li>Have strong interpersonal skills </li></ul><ul><li>Demonstrate involvement and ownership </li></ul><ul><li>Possess marketing skills </li></ul><ul><li>Are experienced in change </li></ul><ul><li>Build learning organizations </li></ul><ul><li>Are bottom line oriented </li></ul>
  6. 6. Idea selection criteria (Sir Richard Branson) <ul><li>Virgin products and services must have high quality. </li></ul><ul><li>Virgin ventures must be innovative. </li></ul><ul><li>Virgin’s businesses must provide good value for the money. </li></ul><ul><li>Virgin services must be challenging to existing alternatives. </li></ul><ul><li>The Virgin staff and customer must have a sense of fun. </li></ul>
  7. 7. <ul><li>i2P helps reduce the stress of change </li></ul><ul><li>by working with clients to: </li></ul><ul><li>Identify their unique business position </li></ul><ul><li>Develop a plan that works for them </li></ul><ul><li>Create a culture for success </li></ul>
  8. 8. Over The Past 25 Years, I2p Has Helped Clients <ul><li>Launch a new product </li></ul><ul><ul><li>Expand their business </li></ul></ul><ul><ul><ul><li>Defend their market share </li></ul></ul></ul><ul><ul><ul><ul><li>Survive a hostile attack </li></ul></ul></ul></ul>
  9. 9. What Do We Mean By Innovation? <ul><li>The successful exploitation of ideas that results in a new product or service </li></ul><ul><li>Put more succinctly, “taking old ideas that can be used in new places” (Thomas Edison) </li></ul>
  10. 10. Attributes of an Innovative Culture <ul><li>Demand that your team listen to your customers and stakeholders </li></ul><ul><li>Listen to what your team has to tell you </li></ul><ul><li>Unflinchingly deal with the problems </li></ul><ul><li>Don’t be satisfied with the status quo </li></ul><ul><li>Be prepared to play hard and win </li></ul><ul><li>Make dramatic shifts in your company </li></ul><ul><li>Always be prepared for the next growth challenge </li></ul>
  11. 11. How Do We Create An “Innovation Culture” <ul><li>Ensure that there is a commitment to the innovation process throughout the organisation. </li></ul><ul><li>Be prepared to allocate the appropriate time and resources. </li></ul>
  12. 12. How To Generate Good Ideas <ul><li>If an organisation demonstrates: </li></ul><ul><li>a commitment to an innovation culture </li></ul><ul><li>and has been able to convince its employees to buy into the concept </li></ul><ul><li>then ideas will start to flow </li></ul><ul><li>your business will grow </li></ul>
  13. 13. A Warning <ul><li>Not all the ideas will be good ones </li></ul><ul><li>A set of criteria needs to be established in order to select the most worthwhile. </li></ul>
  14. 14. Attributes for Team Success <ul><li>Commitment </li></ul><ul><li>Trust </li></ul><ul><li>Risk taking </li></ul><ul><li>Shared vision </li></ul><ul><li>Enthusiasm </li></ul><ul><li>Customer focus </li></ul><ul><li>Shared responsibility </li></ul>
  15. 15. If You Chose to Lead <ul><li>Set values and make them known </li></ul><ul><li>Never desert a colleague </li></ul><ul><li>Give and expect loyalty without compromise </li></ul><ul><li>Make your “rules of engagement” simple and easy to follow </li></ul><ul><li>Reward best efforts with opportunities </li></ul><ul><li>Encourage conversations </li></ul>
  16. 16. Presenting The Idea <ul><li>Have an introductory phrase that is very simple and clearly focused. </li></ul><ul><li>“ This project will increase our value to our customers and improve our market leadership.” </li></ul><ul><li>“ By doing …..we will improve our team commitment and increase our profitability.” </li></ul>
  17. 17. The Impact Of Process <ul><li>“ The best of these innovators have systematized the generation and testing of new ideas </li></ul><ul><li>– and the systems they devised can be replicated practically anywhere, </li></ul><ul><li>- because it has everything to do with organization and attitude and little to do with solitary genius”. </li></ul><ul><li>Building An Innovation Factory Harvard Business Review </li></ul><ul><li>Andrew Hargadon & Robert Sutton </li></ul>
  18. 18. Call i2p today to discuss your business’ potential ! Ross Blaine Email: [email_address] Linda Blakney MBA, MA (Psych) Email: [email_address] Sanjay Doraiswami Email: [email_address] Stephen D. Fry P.Eng Email: [email_address] Hilton Mijovick Email : [email_address] Ideas To Profits Tel: (613) 791-3989 Email: info@i2p.biz Thinking beyond today

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