When do you think as innovator or evaluate an idea is a good idea ?
Synthesize the answers to share the succint summary of the entire presentation
Our job as leader is to enable idea to find out for themselves how good they are and based on their own findings
But before that lets get away something that bothers us many times on ‘What is Innovation ?’ How does one define innovation. Let me share a simple defintion that will help us anchor to relate to it in simillar light
Innovation put simply is ‘Something Different’
Quote to different and Deep Impact
Add Aravind Eye Care Add Quickbooks case
Get numbers/figures on the impact
That has impact
Impact means measurable result in terms – whether it is business value – profit, improved performance of a process, a measurable effect on someon’s life or something else entirely.
No impact means no innovation
That way innovation is different from creativity, technology and discovery/invention
Key aspect as may not is the ‘Doing is thing’
To illustrate I would like to share two examples
Aravind Eye Care
Eye surgey is a complex procedure and involves several subtleties to go well. The key difference in thinking of Aravin Eye care was to keep the unit costs low enough for a rural population they had standardized the operation in a factory like manner ( in a way similar to Ford assembly plant or a McDonald’s outlet) to create high volume production.
The key is in the volumes, they conduct operations of around 200,000 in a year. It costs about $50 per operation while the same in a hospital in Indian city costs about $300 while the cost in US is about $1650
The other example that I can share is from Intuit experience. When we first released Quickbooks was the last product released and had the least number of features compared to any other competitor. But since it focussed on the benefit of the customer ( to help those do accounting even with an accounting knowledge) it went on to become the market leader in the personal finance software category.
Experiments = MVP
smallest possible experiment to test a specific
hypothesis, all the way up to the tangible
realization of a product vision