This document discusses key aspects of innovation. It defines innovation as a new way of doing something or creating something useful. Invention turns ideas into cash, while innovation turns cash into ideas. The document then lists 10 steps to foster innovation: 1) have a dream, 2) inspire your team, 3) focus on customers, 4) be different, 5) question everything, 6) synergize, 7) establish a process, 8) take risks, 9) lead change, and 10) be entrepreneurial. It emphasizes creating an inspiring vision, differentiating products, questioning assumptions, building cross-functional teams, experimenting, and adapting to change.

2. What Is Innovation?
 Innovation is a new way of doing something or "new
stuff that is made useful“
 In organizational context, innovation may be linked to
improvements in efficiency, productivity, quality,
competitive positioning, market share, etc.
 Invention is the conversion of cash into ideas.
Innovation is the conversion of ideas into cash.
“Innovation distinguishes a leader from
a follower."
– Steve Jobs

3. logee : Have A Dream
 Create an inspiring vision
 Focus on your core competencies and competitive
advantage
 Develop a vision-focused innovation strategy
"If you can dream it, you can do it."
– Walt Disney

4. 102: Inspire Your Team
 Communicate your strategic intent and launch a
crusade
 Create an inspiring culture, make business fun
 Inspire, empower and energize people
"Never underestimate the power of a small but
committed group of people to change the world.
Indeed, it is the only thing that ever has."
– Margaret Mead

5. 3.141: Focus On Customers
 Strive to create innovative value for your customers
 Practice customer-driven innovation
 Involve customers in your process of new product
development
"You're headed in the right direction when you
realize the customer viewpoint is more important
than the company viewpoint."
– John Romero

6. 2+2: Be Different
 Differentiate yourself and your product
 Strive to change the name of the game – introduce
radical innovations
 Practice Lateral Thinking
"We must be the change we wish to see
in the world."
– M.K. Gandhi

7. 5: Question Everything
 Challenge assumptions, ask "Why?" and "What If?"
questions constantly
 Ask a lot of searching questions
 Question and reassess past decisions
"Some men look at things the way they are and ask why? I dream
of things that are not and ask why not?
– Robert Kennedy

8. √36: Synergize
 Build cross-functional expertise and systems thinking
skills
 Build and lead a cross-functional team
 Cross-pollinate ideas, leverage diversity, create
synergies
"You can't do carpentry if you only have a saw, or only a
hammer, or you never heard of a pair of pliers. It's when you
put all those tools into one kit that you invent.”
– Peter Drucker

9. 28/4: Establish the Process
 Create a business model, rules, structure, and a
measuring system
 Provide strategic alignment (Ensuring that the above
fit together)
 Encourage jazz-like improvisation within a guiding
structure
"Without order nothing can exist – without
chaos nothing can evolve.“
- Anonymous

10. 23: Take Risk
 Take entrepreneurial action – nothing venture,
nothing win
 Experiment, learn from market feedback
 Learn from failures to start again smarter
"Aversion to risk is deadly in business,
especially in industries marked by rapid
advances in technology."
– Ken Iverson

11. IX: Lead Change
 Create a mindset of creative dissatisfaction to reduce
resistance to change
 Lead by example, demonstrate entrepreneurial
leadership attributes
 Adapt to rapid internal and external change, create
positive change
"Never innovate to compete, innovate to
change the rules of the game."
– David O. Adeife

12. a16 : Be Entrepreneurial
 Develop and practice entrepreneurial creativity daily,
learn continually
 Look for opportunities everywhere and pursue them
 Be persistent, overcome obstacles, solve problems
creatively
"Innovation is the specific instrument of
entrepreneurship. The act that endows resources with
a new capacity to create wealth."
– Peter Drucker

13. 1 Have a dream
2 Inspire your team
3 Focus on customers
4 Be different
5 Question everything
6 Synergize
7 Establish the process
8 Take risk
9 Lead change
10 Be entrepreneurial

14. Done !!!
Thank You!