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Innovation and entrepreneurship


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Innovation and entrepreneurship

  1. 1. Innovation and Entrepreneurship<br />Joe Drumgoole<br /><br />
  2. 2. Overview<br />Innovation<br />The outcome<br />Entrepreneurship<br />The process<br />
  3. 3. Innovation<br />Doing something different rather something better<br />Innovation is about society and economics<br />Innovation is a diagnostic discipline<br />Organisations: Resources, Processes, Culture<br />Increase the yield of resources<br />A culture of innovation<br />A process that supports innovation<br />
  4. 4. Entrepreneurship<br />The purposeful and organised search <br />for changes and the systematic analysis <br />of the opportunities such changes <br />might offer for economic or social innovation<br />
  5. 5. Sources Of Innovation – Internal<br />The Unexpected<br />The Incongruity<br />A Process Need<br />Changes in Industry Structure/Market Need<br />
  6. 6. Sources of Innovation - External<br />Demographics<br />Changes in Perception<br />New Knowledge<br />
  7. 7. Sources of Innovation – High Risk<br />The Bright Idea<br />
  8. 8. Entrepreneurship<br /> Entrepreneurship is a behaviour rather than a personality trait<br />
  9. 9. Do<br />Be systematic<br />Inquire, listen, perceive<br />Keep it simple, retrospectively obvious<br />Start Small<br />Aim for Leadership<br />
  10. 10. Don‘t<br />Be too clever<br />Diversify<br />Innovate for the future<br />
  11. 11. Entrepreneurship in a Large Organisation <br />Employees<br />Hit your 5’s<br />Organisations : Abilities and Disabilities<br />Think about the opportunities at a micro-economic level<br />Make your boss successful<br />Fail Fast<br />Ignore everything that’s said, watch everything that’s done<br />Accept a certain amount of idiocy<br />
  12. 12. Entrepreneurship in a Large Organisation <br />Management<br />Innovation requires work<br />Abandon the old, reprioritise<br />Be greedy for new things<br />6 Thinking Hats : Green and Yellow<br />Innovative efforts have a high probability of failure<br />Focus on opportunity not BAU<br />Listening rather than talking<br />No about risk, about risk elimination<br />Separate the new from the old<br />Be accountable<br />
  13. 13. To Succeed<br />Technical Excellence<br />Demonstrable track record<br />Exemplar<br />External approval<br />Business Excellence<br />Understand the stuff your not expected too<br />Know your audience<br />Selling<br />Listen<br />Execution Excellence<br />Gets things done<br />Tenacity<br />Understand the organisation<br />
  14. 14. Conclusions<br />Its an economic discipline<br />Need to be explicit about innovation<br />It takes time<br />Easier and harder in large organisations<br />Successful Innovation = Longevity<br />Microsoft, IBM, Procter & Gamble, 3M<br />Unsuccessful Innovation = Death<br />British Leyland, Data General, Digital, Compaq<br />