What is Innovation? How Important Is It? How do you do it?

1. Innovation
For Power
And Profit
Singapore Computer Society September 2009

3. What is Innovation?
How Important Is It?
How do you do it?

4. Prof. Peter Drucker
“The business has two basic functions.
Only Marketing & Innovation produce results.
All the rest are just costs.”

5. Innovation Marketing
Implementation

6. Marketing 3.0 – Kotler

7. 1. What is Innovation?

8. PayPal

10. Banks Were Doing
Better Sameness!

11. Innovation Is
NOT
Better Sameness!

12. Steadily improving
what we already do

14. The Parity Trap.

15. All make almost same thing.

16. All make almost same thing.
Including small profits!

17. Significant changes to make
significantly higher profits.

18. Why doesn’t every
company innovate?

19. Risk Of Failure.

20. Famous Failures.

25. Different + Valuable.

26. Different
From All
The Rest
0
Valuable To
Customers

27. Different
From All
The Rest
*
0
Valuable To
Customers

28. Different
From All
The Rest
*
0
Valuable To
Customers

29. Different
From All
The Rest
0 *
Valuable To
Customers

30. Different
From All
The Rest
*
0
Valuable To
Customers

31. Different
From All
The Rest
0
* Valuable To
Customers

32. Why Innovate?
Survival
Self defence
Market expansion
Diversification
Profitability
Power

36. To Control Your Own Destiny

37. How Do You Innovate?

38. 3 Sources

39. Within your own company.

40. Culture for Creativity.
Autonomy.
Mastery.
Purpose.

41. Fast Changing Markets
Need 2 Critical Modes.
• Active Waiting
• Alert for Anomalies

42. From outside your company.

43. Blend both – Open Innovation.

44. Open >50% of P&G Initiatives

45. How About You Personally?

46. Embrace Change.

47. Be a Change Agent.

48. Generate Ideas.

49. SCAMPER
• Substitute an aspect of it
• Combine elements with something else
• Adapt or Alter an aspect
• Minimize, Magnify or Multiply an aspect
• Put some part of it to other uses
• Eliminate an aspect
• Reverse an aspect

50. Explore Your Clients’
Problems for Ideas.

51. Make Mistakes.

52. "The way to succeed is to
double your error rate."
Thomas J. Watson Sr.

53. What is the process?

54. Innovation Process?
Have Ideas
Production

55. Innovation Process?
Have Ideas
Production

56. Innovation Process.
Ideas.
Review.
Prototype/POC.
Test.
Refine.
Implement.
Review.
Refine.
Implement.

57. The Innovation Pathway
ANALYSIS
CREATIVITY
Ideate Review Prototype/POC Test Refine Implement

58. Innovation Summary.
• Significant, valuable changes
• Control of your destiny
• Culture & Leadership
• Essential process
• 3 main sources
• You can do it

59. Innovation Consulting:
- Digital Marketing Consultancy
- Digital Advertising & Media Reviews
- Strategy, Structure & Staffing
- Acquisitions & Partnerships
- Culture & Leadership
- Methods & Systems
- Rent-An-Inventor

60. MAKING IDEAS MAKE MONEY
Mike.Langton@Innovize.com.sg.