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Innovation Workshop

Presentation given by Richard Crooks and Richard Hall of Oxford Innovation, on behalf of Business Link West Midlands to Coventry business owners on 7 October 2010.

Innovation Workshop

  1. 1. Innovate & Grow Your Business Thursday, 7th October 2010 Richard Hall Oxford Innovation Richard Crooks Oxford Innovation
  2. 2. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  3. 3. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  4. 4. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  5. 5. Objectives What is innovation, why is it important? Develop some initial ideas about innovation for your business – through Action Learning Have fun!
  6. 6. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  7. 7. Why Innovate? What is innovation? Innovation - the profitable exploitation of new ideas Invention – generating new ideas
  8. 8. Why innovate? What is innovation? not just technology and products, also services and new ways of doing things you cannot be innovative by looking harder in the same direction
  9. 9. Why Innovate? reason 1 it’s a fact – innovative businesses achieve profit levels 80% higher than similar businesses who do not innovate!
  10. 10. Why Innovate? reason 2 getting better is not good enough, you have to be better and different
  11. 11. Why Innovate? reason 3 everything changes (but you don’t have to, right?)
  12. 12. SUMMARY INNOVATION = GOOD NO INNOVATION = BAD
  13. 13. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  14. 14. Activity 1 Task: To build the highest tower with the pack of cards supplied • you may not use any additional materials • fifteen minutes • highest tower wins. Aces High
  15. 15. One’s we did earlier
  16. 16. And some more
  17. 17. How Mars do it
  18. 18. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  19. 19. When to innovate understanding where your business is right now
  20. 20. Activity 2 Task: identify (individually) and discuss (on your tables) where your business is right now • the business itself (circle), the products / services (square), the sector / industry (triangle) • what are the implications? • ten minutes where is your business right now?
  21. 21. When to innovate don’t wait until it is too late! best time to change worst time to change
  22. 22. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  23. 23. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  24. 24. We make hinges for car doors for the automotive industry in the West Midlands Area of activityPotential 1) Defining what we do Potential
  25. 25. Example defines itself as providing ‘peace of mind’
  26. 26. Activity 3 Task: re-define a business and its possibilities • chose one volunteered business in your groups / tables and find out about it - how does it defines itself? • challenge the definition – what knowledge, skills, capital equipment, distinctive capability does it have? What does this mean in terms other possibilities? • 15 minutes • choose someone to report back How do you define your business?
  27. 27. Horizon Scanning ...is the systematic examination of trends and changes that may represent potential threats or opportunities
  28. 28. Some Trends • Aging population • One person households • Globalism vs. localism • Social media revolution • Internet / wi-fi / mobile phones • Green issues • Celebrity Culture • Financial crisis / recession • User-customised services
  29. 29. Example
  30. 30. Types of Innovation There are many different forms of innovation • Incremental / Evolutionary • Disruptive / Revolutionary • Product / Technology • Service / Business model • User led • Open Innovation
  31. 31. Open Innovation
  32. 32. What is Open Innovation The idea that by looking outside their own boundaries, companies can gain better access to ideas, knowledge and technology, than would be the case if they relied solely on their own resources What is Open Innovation?
  33. 33. Why Should Companies Open Up? • To generate increased revenues • Gain access to new applications • Access specialist techniques and tap into additional manpower in other companies • Achieve critical mass whilst remaining lean • A window on the world - more ideas and better ideas • Dynamic small business sector part of an Entrepreneurial Economy. Firms should look beyond their own boundaries to enhance their competitiveness
  34. 34. Open Innovation Quotes ‘If you’re too focused on your current business, it’s hard to change and concentrate on innovating.’ Bill Gates ‘Ideas that transform industries almost never come from inside those industries.’ Gary Hamel
  35. 35. Example…Full Metal Jacket
  36. 36. Activity 4 Task: Ideas to help a business from external sources • chose one business volunteered in your groups / tables and create new ideas based on another company – Disney, Amazon, McDonalds? • think about principles, attributes, processes • 15 minutes choose someone to report back Open Innovation
  37. 37. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  38. 38. Making it Happen • practice it, build confidence and believe it • identify ‘quick wins’ • everyone’s responsibility, all of the time • define the area to focus on • quantity vs. quality • get different perspectives • understand your customers • be open-minded
  39. 39. And finally… “Those that live by the sword get shot by those that don’t” Gary Hamel
  40. 40. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  41. 41. The IAS partnership • Managed by Business Link West Midlands • Delivered by Oxford Innovation and others in conjunction with BLWM • Funded by Advantage West Midlands.
  42. 42. Innovation Advisory Service • Bureaucracy free and flexible help • Specific problem solving • Helps businesses improve profitability through innovation in products, processes, business models and skills • Aims to raise regional competitiveness by increasing innovation among businesses.
  43. 43. Working together To raise regional productivity the WM IAS is working in partnership to support companies looking to innovate and grow • Advantage West Midlands • Business Link West Midlands • IAS • MAS • Universities
  44. 44. Working with IAS Meeting Agreed Company Analysis Aims for innovation Ideas generation Action Plan IAS Assistance Follow up Confidential Prepaid – free at point of delivery Access via Business Link West Midlands
  45. 45. SUMMARY How can you start to bring innovation to your business? • Generate ideas and think differently • Access external sources of ideas and innovation • Contact BLWM for an IAS Adviser meeting.
  46. 46. Agenda 9.30 Welcome and opening remarks 9.35 Workshop objectives 9.45 Why innovate? 10.00 How innovative are you? A hands-on innovation exercise 10.30 When to innovate? 11.00 Coffee, refreshments, networking 11.15 How to bring innovation to your business? 12.45 Making it happen 12.55 Closing remarks 13.00 Lunch and networking 13.30 Close
  47. 47. Objectives What is innovation, why it is important? Develop some initial ideas for your business – through Action Learning Have fun!
  48. 48. Innovate & Grow Your Business Monday, 7th June 2010
  • dag5071

    Jun. 20, 2019
  • aureledan

    Dec. 29, 2010

Presentation given by Richard Crooks and Richard Hall of Oxford Innovation, on behalf of Business Link West Midlands to Coventry business owners on 7 October 2010.

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