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Innovation and Change: Making it Happen - George Vukotich, Ph.D.

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Innovation and Change: Making it Happen - George Vukotich, Ph.D.

  1. 1. Click to edit Master title style 1 Innovation and Change Making it Happen George Vukotich, Ph.D.
  2. 2. Click to edit Master title style 2 George Vukotich, Ph.D. - BACKGROUND – GROWING UP - EDUCATION - WORK – DOING WHAT YOU NEED TO DO - MORE EDUCATION - MILITARY - MORE WORK: Fortune 500 - MORE WORK: Education - MORE WORK: Startups *Don’t let other people limit you.
  3. 3. Click to edit Master title style 3 OVERVIEW - Where Does Change Come From - Some Statistics - Innovation and Change - Some Examples - Data - Trends - Opportunities - Things to Think About - Going Forward - Homework - ??? GOAL: Is that you know more after this session than before
  4. 4. Click to edit Master title style 4 WHERE DOES CHANGE COME FROM Political Economic Social Technical Legal Environmental P E S T L E Are we being as effective as we can be?
  5. 5. Click to edit Master title style 5 STATISTICS  FORTUNE 500  SMALL BUSINESSES  BY INDUSTRY  EVEN OUR COMMUNITY
  6. 6. Click to edit Master title style 6 SOLVING A PROBLEM OR FINDING AN OPPORTUNITY
  7. 7. Click to edit Master title style 7 INNOVATION – IT’S HOW YOU LOOK AT THINGS
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  9. 9. Click to edit Master title style 9 PURPOSE What Do Companies Do To Be Successful - How do they compete? - What business are they in? - Who are their customers?
  10. 10. Click to edit Master title style 10 Park Entry Hotel Room Key Payment for Food and Merchandise Fast Pass Access Move Employees Around to Busy Areas Reallocate resources – Beacon Technology
  11. 11. Click to edit Master title style 11 • Movie Theaters • Neighborhood Video Stores • BlockBuster Video • Netflix • Redbox • Internet Download But What Enabled These Changes To Happen. Technology As a Game Changer
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  13. 13. Click to edit Master title style 13 HEALTHCARE: FROM SMART PILLS TO SMART TOILETS
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  16. 16. Click to edit Master title style 16 WHAT IS STEVE JOBS HOLDING? MORE IMPORTANTLY, WHAT CAN IT DO?
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  19. 19. Click to edit Master title style 19 SENSES SENSOR TECHNOLOGY
  20. 20. Click to edit Master title style 20 DO YOU ADAPT OR DO YOU INNOVATE
  21. 21. Click to edit Master title style 21 SENSES - RECOGNITION - Text Recognition – text to voice - Voice Recognition – cybersecurity - Sight Recognition – facial recognition - So what’s next?
  22. 22. Click to edit Master title style 22 New MIT Headset Can 'Hear' Your Thoughts and Res Augmented Intelligence Every time you think of a word, phrase or are even reading a book, the process of subvocalization is at work. That means your brain is sending signals to the muscles of your face and throat that will ultimately shape words for you to speak.
  23. 23. Click to edit Master title style 23 • What business are you in? - Can you clearly articulate what you do? • Who are your customers? - Best customers and why? • Who are your competitors? - What differentiates you? • What does your network look like? - Do you have a team that you can count on? • What is your “value proposition”? IF I ASK YOU THESE QUESTIONS CAN YOU ANSWER THEM
  24. 24. Click to edit Master title style 24 THE BUSINESS MODEL CANVAS
  25. 25. Click to edit Master title style 25 BUILDING YOUR BUSINESS PLAN
  26. 26. Click to edit Master title style 26 MINIMUM VIABLE PRODUCT – MVP It’s not about building it and seeing if they will come
  27. 27. Click to edit Master title style 27 What’s Your Offering? CORE PRODUCT OR SERVICE EXTENSIONS SUPPORTING GOODS SERVICES
  28. 28. Click to edit Master title style 28 PIVOT Sometimes You Need to Change Your Focus
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  30. 30. Click to edit Master title style 30 SO, WHAT’S THE POINT?
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  32. 32. Click to edit Master title style 32 The Future is Prediction, Not Restriction DATA-INFORMATION-KNOWLEDGE-WISDOM Remember: - Mean - Median - Mode - Range DATA AS A GAME CHANGER
  33. 33. Click to edit Master title style 33 Credit Card Companies Can Now Accurately Predict the Incidence of “Early” Divorces from Activity: - Same City Hotel Charges - Flowers Sent to Addresses Other Than Home - Increased Charges for Self-Improvement - Increased Spending in Bars Focused on Singles DIVORCING COUPLES PRESENT A MUCH GREATER RISK OF DEFAULTING ON THEIR CREDIT CARD OBLIGATIONS DATA AS A GAME CHANGER
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  35. 35. Click to edit Master title style 35 WE’RE IN THE 4th INDUSTRIAL REVOLUTION
  36. 36. Click to edit Master title style 36 • Increasing Generational Differences in How Work and Life are Viewed (segmentation) • Diversity of Leadership / Membership • Use of Technology (Healthcare, Manufacturing, etc.) • More People Working from Remote Sites • How the Internet (LinkedIn, Twitter, YouTube) is used • Media – Broadcast – Interactive – Social Media • WHAT TRENDS DO YOU SEE? HOW DO YOU LEVERAGE IT? WHERE ARE THINGS GOING?
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  41. 41. Click to edit Master title style 41 MORE PEOPLE LIVING ALONE AND MARRYING LATER IN LIFE
  42. 42. Click to edit Master title style 42 https://usafacts.org/?utm_source=EM&utm_medium=email&utm_campaign=marriage-in-US The trend of living unmarried and alone impacts more than just caterers and bridal shops. Many government programs that serve the public were designed at a time when married households were the norm. Marriage plays a role in partner benefits for Social Security and Individual Retirement Accounts. It's key to filing taxes jointly or joining a partner's health insurance. This shift toward living alone could test how these programs are implemented and shape American life. The data on who is living alone and who is getting married comes from the US Census Bureau. USAFacts is here to break it down:According to the Census, 6.8% of men were divorced in 1990; that number was 8.3% in 2019. The percentage of divorced women also grew from 9.4% to 11.1% between 1990 to 2019. Rates of widowhood have gone down for nearly everyone since 1990. Rates are still significantly higher for women, however, since they tend to have a longer life expectancy than men.
  43. 43. Click to edit Master title style 43 • Large Families • Command and Control Management • Global Isolationism • Pay Phones, Newspapers, Traditional TV, Typewriters . . . but WHERE ARE THINGS GOING AWAY FROM? • What businesses do you know that no longer exist? -- WHY?
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  45. 45. Click to edit Master title style 45 GROWTH: - $2 billion valuation in less than a year. - Making it the fastest startup in history to reach unicorn status. - Bird hit over 10 million rides in less than a year. - Grew to more than 120 cities across the world. ISSUES: - Vandalism and theft - Scooter-related injuries and lawsuits, leading to being banned in some cities. Bird is Inc.’s 2018 Company of the Year
  46. 46. Click to edit Master title style 46 WHO NEEDS ASSETS
  47. 47. Click to edit Master title style 47 ECONOMY OF NOW (EON) – On Demand Businesses Q: How are these businesses different from traditional businesses?
  48. 48. Click to edit Master title style 48 NEEDS DRIVING RELATIONSHIPS Egypt - Israel - Jordan - Palestine
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  50. 50. Click to edit Master title style 50 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS
  51. 51. Click to edit Master title style 51 - A woman from Virginia was awarded more than US $12.2 million in damages for injuries she suffered in a slip-and-fall accident at a convenience store. - Unclean and unsafe floors are the cause of approximately 50 percent of slip-and-fall accidents, followed by inappropriate footwear, fraudulent claims, inadequate hazard identification and insufficient employee training. - In addition to causing injury to employees and guests, slip-and-fall accidents can cost a business thousands, or millions, of dollars in legal fees and settlements. - According to the National Safety Council, compensation and medical costs associated with slip-and-fall accidents are approximately US $70 billion each year. They also can result in a public relations nightmare that can cast a lasting shadow over an organization. THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS Floors = Money
  52. 52. Click to edit Master title style 52 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS - From Illinois - Took 6 years to get an undergraduate degree (Bradley University). - After college got a job selling flooring (titles, etc.) - Had an idea to start a company – floor care - First product floor cleaner, safety wax - first clean/then protect - Then idea related to floor safety matting (such as when you enter a building) - Then safety shoe idea with special non-slip soles (lawsuit) - Then safety sign - Then tester to measure how slippery a floor is (insurance cost) - Then association -- National Floor Safety Institute (NFSI) - Then expert witness - Then start a consulting company -- www.tractionexperts.com
  53. 53. Click to edit Master title style 53 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS Floors are expensive to replace – so create non-slip floor care products
  54. 54. Click to edit Master title style 54 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS Floors can get slippery – so create non-slip shoes / soles
  55. 55. Click to edit Master title style 55 https://www.linkedin.com/in/russell-kendzior-1b13307/ THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS Knowing how to make things better
  56. 56. Click to edit Master title style 56 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS - Started a consulting company - Started an association that monitors the industry
  57. 57. Click to edit Master title style 57 THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS Created a tool to measure the slipperiness of floors
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  59. 59. Click to edit Master title style 59 Chicago Slip and Fall Attorneys THE RUSS KENDZIOR STORY – IT’S HOW YOU LOOK AT THINGS And it goes on
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  61. 61. Click to edit Master title style 61 Driven by Change – e.g. The Web Web 2.0 is the term given to describe a second generation of the World Wide Web that is focused on the ability for people to collaborate and share information online. Web 1.0. A general reference the term is mostly used to contrast the earlier days of the Web before blogs, wikis, social networking sites and Web-based applications became commonplace. Web 3.0 will use things like semantic searches, microformats, natural language search, data-mining, machine learning, recommendation agents, and artificial intelligence technologies — which emphasize machine-facilitated understanding of information in order to provide a more productive and intuitive user experience.”
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  63. 63. Click to edit Master title style 63 - Which do you think was more successful? - Why? WHICH COMPANY WOULD YOU CHOOSE / WHY? - Two guys in a warehouse on W. Lake St. - Have this concept to box up meals and send to individuals. - Raise money from friends and families, angel groups, etc. - Two medical doctors from the University of Chicago - Have this idea to use DNA samples to determine effectiveness to various medications. - Get over $4M in grants. Polsky Center winner. - It’s about the people and their commitment.
  64. 64. Click to edit Master title style 64 EMERGING TECHNOLOGIES ARE AREAS OF OPPORTUNITY
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  66. 66. Click to edit Master title style 66 DECISION MAKING But understand what you are looking at
  67. 67. Click to edit Master title style 67 DECISION MAKING But understand what you are looking at
  68. 68. Click to edit Master title style 68 • Create a New Product or Service INNOVATION – WHAT & HOW, e.g. • Make a Mistake and Convince the World they need Your Mistake • Find New Uses for Existing Products / Services • Find a Way for an Existing Product or Service to Work with Other Products or Services • Find a Way to Increase the Capability of a Product or Service • Create a better alternative to what exists - Post-It Notes - Arm & Hammer Baking Soda - Apple iPod - VHS Tape to DVD’s - Viagra
  69. 69. Click to edit Master title style 69  Things happen – what makes a difference is how we react to what happens.  Avoidance  Ready, Fire, Aim  Blaming others  Find the “root cause” – deal with the issues. ARE YOU FIXING SYMPTOMS OR SOLVING PROBLEMS
  70. 70. Click to edit Master title style 70 • Know Yourself / Develop Yourself • Analyze Your Environment (SWOT) • Know Others Around You • Set Your Goals • Develop Your Network • Perform -- Do What You Do Better Than Anyone Else • Be Willing to Change – Don’t Get Stuck in One Career Field Monitor Your Environment . . . BE READY TO CHANGE, BE PROACTIVE NOT REACTIVE SO WHAT DO YOU DO?
  71. 71. Click to edit Master title style 71 COMMUNICATION – ARE WE EFFECTIVE
  72. 72. Click to edit Master title style 72 YOUR 60 SECOND ELEVATOR PITCH IT STARTS WITH YOU - Who you are? - What you do? - Why should people care? - Don’t forget the “ask” if you have one.
  73. 73. Click to edit Master title style 73 • Head -- Change the way they think. • Heart -- Change the way they feel. • Hand -- Change what they do. INFLUENCING STRATEGIES
  74. 74. Click to edit Master title style 74 • Things Change – Be Prepared • Build a Strong Network • We’re All Entrepreneurs – Take Responsibility for Your Own Future • Always Look for Opportunities • Be Willing to do What Others Aren’t KEY POINTS
  75. 75. Click to edit Master title style 75 - Stay healthy - Learn to cope with issues - Develop a set of values and live by them - Build a trusted network - Complain 7 THINGS TO DO 4 THINGS NOT TO DO - Talk about others behind their back - Understand money - Be an effective communicator - Learn and develop skills that are in demand - Develop an entitlement mentality FROM MY EXPERIENCE - Violate someone’s trust in you
  76. 76. Click to edit Master title style 76 • You have been interviewed for an upcoming issue of TIME magazine. You will be on the cover and yours is the main story in the issue: - What’s your story? - Headline - Key points (by section, paragraph) - What do you want people to know - Introduction / Content / Conclusion - What else is it you want the readers to know. HOMEWORK - WHAT’S YOUR STORY
  77. 77. Click to edit Master title style 77 George Vukotich, Ph.D.
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Editor's Notes



  • - And what happens when a few of these change together –R.G. Cryptocurrency:
  • -FORTUNE 500 – On average over any 10 year period of time half the companies on the Fortune 500 list are gone or replaced.
    BUT THIS ALSO MEANS THAT NEW COMPANIES ARE RISING AND BEING SUCCESSFUL.
    -SMALL BUSINESS – from a small business perspective, depending on who you believe, 60-80% that are started fail within three years.

    -BY INDUSTRY; Airline – PanAm, TWA, Eastern, Ozark, Braniff, PeoplesExpress,, Auto, Electronics, Computer. Ask yourself “Who were the big names 10, even 5 years ago and who are they now.”
    Q: Anyone remember the first Japanese cars? What did people think?
    Q: What about early German cars? VW. Things have changed.
    Q: What about computers? Size, power --- Companies? Osborne, DEC, Amdahl, Olivetti, Unisys, and even those that do remain like IBM are in different businesses. IBM sold off it PC business to a Chinese firm LENOVO. -In some cases the cost of software is more expensive than the computer itself -- Microsoft – Harder to copy, once in place harder to displace.
    Q: AND WHAT INDUSTRIES DID NOT EVEN EXIST 5 YEARS AGO.
    -AVERAGE TIME A PERSON IS IN A JOB – 2.3 years. - Average marriage is 7.2 years according to the census bureau.
  • Best is no internet is needed and it’s FREE.
  • https://electronics.howstuffworks.com/gadgets/high-tech-gadgets/mit-headset-hears-thoughts.htm
  • YouTube – Was a dating web site

    PayPal - It was originally called Confinity and delivered security software for handheld devices such as PalmPilots.

    Groupon - In 2007, Andrew Mason helped found The Point, a tipping-point-based collective action website dedicated to getting people together to accomplish a goal. The following year, The Point gave birth to Groupon, a site dedicated to advertising local businesses by offering deals for a limited time. The world’s first Groupon was a deal for Motel Bar, located just downstairs from the Groupon office in Chicago, Illinois.

    Twitter - began as another micro-blogging platform created by programmers who worked at the podcasting company Odeo Inc. in San Francisco, California.
  • Semantic search seeks to improve search accuracy by understanding the searcher's intent and the contextual meaning of terms as they appear in the searchable dataspace, whether on the Web or within a closed system, to generate more relevant results.
  • 1. CREATE A NEW PRODUCT OR SERVICE
    The question: How to meet a need that arises as a result of changing habits or societal needs? For example--families where both parents work would open up services for convenience; grocery delivery, dog walking, or child care. An aging population would open up other opportunities to start a business that did not exist before. Possibly in transporting seniors, helping in understanding medication use, or offering assistance in mobility related tasks.
    2. FIND A NEW USE FOR AN EXISTING PRODUCT OR SERVICE
    Can an existing product or service that is being used or underutilized be adapted due to the changes taking place around us? Consider Post-It Notes, which were originally underutilized until people realized that they worked great as bookmarks and could stick to items as reminders. It has since even become an app that runs on computers.
    3. FIND A WAY FOR AN EXISTING PRODUCT OR SERVICE TO WORK WITH OTHER PRODUCTS OR SERVICES
    Look at a product like Arm & Hammer Baking Soda. Originally used for baking, it is now in everything from toothpaste to kitty litter. Somehow, there’s something good about not only baking soda, but specifically Arm & Hammer Baking Soda. What does it do for the products it is now in? How can it be positioned as an enhancement?
    4. FIND A WAY TO INCREASE THE CAPABILITY OF A PRODUCT OR SERVICE
    Look at the Apple iPod, originally designed to play music, then transformed to identify songs, and eventually to let you download them. It made Apple the largest seller of music on the internet. I wonder...is the company still Apple Computer or, possibly Apple Innovation?
    5. CREATE AN ALTERNATIVE TO WHAT EXISTS
    Looking at technology as an enabler is a helpful approach for startups to take. Think about the movie distribution industry. For consumers that wanted to watch a movie. They at first had to go to a larger theater. They had scheduled times where the movies would play and fixed locations along with an atmosphere that some liked and others not so much. Then you had mom and pop video stores, which were quickly replaced by large chains like Blockbuster and Hollywood Video. Remember them? They won by being everywhere, and then along came a new technology...the disc. Away went the VHS tape. Victory for the DVD makers! Only, fast forward a few more years and Netflix had the foresight to trounce everyone. They didn’t have to be everywhere, physically. They leveraged the US Postal service as a delivery channel. They took a 180-degree change of direction and were successful, no stores, no real estate costs. Even further along, now you only need a digital channel and bandwidth to stream the content.
    6. MAKE A MISTAKE AND CONVINCE THE WORLD THEY NEED YOUR MISTAKE
    How many of you knew of erectile dysfunction before you heard of Viagra? This was truly a major play in convincing a population they needed something. Most of the population probably had never even heard of erectile dysfunction before. Oh, and the four-hour warning? How much more does that intrigue you? All that hubbub, from a heart medication that did not work, but had interesting side effects. You never know, watch out for those side effects and what they can lead to.

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