The document discusses the challenges of measuring innovation. It notes that while innovation fuels R&D efforts, correctly gauging its market reception can translate to billions in revenue but an incorrect measure can spell doom for organizations with large R&D budgets. It examines issues like balancing innovation and market maturity, the influence of management policies, and the incremental nature of innovation. The document also outlines IBM's emerging business opportunities framework for objectively measuring innovation processes.
1. The document discusses applying open innovation strategies at different stages of a company's innovation process - idea generation, idea development, and commercialization.
2. It recommends first assessing where a company's innovation process typically stalls, then using open innovation to source new insights and ideas from external partners during idea generation.
3. During idea development, the document suggests using external developers, venture funding, or acquisitions to further build out promising ideas.
4. For commercialization, it proposes leveraging suppliers, developers, and other partners to accelerate launching new products and capture more value from innovations.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
This document discusses the need for organizations to innovate and manage innovations in the current economic climate. It outlines several key challenges to innovation, including convincing employees that all ideas have potential, overcoming leadership barriers, avoiding over-innovation, managing long innovation lifecycles, and preventing imitation. The document proposes a three-step SPT (Strategy, Process, Technology) framework to streamline the innovation lifecycle. As part of the strategy step, it recommends conducting due diligence and SWOT analyses to evaluate an organization's innovation capabilities and define innovation goals. People, culture, and role allocation are identified as major factors influencing an organization's innovation culture and readiness.
The document discusses factors for success and failure in innovation. It outlines an innovation growth model with 5 phases (adhoc, program, co-creation, eco-innovation, value chain innovation) and the challenges of moving between each phase. Key success factors discussed are people, management processes, tools, and opening innovation processes to external partners through co-creation.
This document discusses balancing creativity and business needs in managing research and development (R&D) projects. It proposes a six-step project management framework to effectively manage innovation given practical constraints of time and budget. While creativity thrives on uncertainty and freedom, some process is needed to move ideas through an "innovation funnel" toward commercialization. Adopting project management practices can help accelerate the innovation process if the processes acknowledge differences between researchers focused on novelty and engineers focused on prototypes and pilots.
An integrated approach to managing innovationDr.Rajesh Patel
Western businesses can no longer rely on price alone to compete globally due to lower costs in other regions. Innovation is necessary to differentiate products and services. The UK has historically been good at generating ideas but not commercializing them. Innovation must be linked to business strategy to focus resources effectively. Ideas can come from various internal and external sources, and should be managed through an "Innovation Hub" where they are collected and screened using a process like V-SAFE to assess value, suitability, acceptability, feasibility, and enduring benefits. Successful innovation is built into business processes at multiple levels and supported by tools and rewards that encourage sharing ideas.
Managing Director Dr. Giordano Koch shows how to run successfull innovation labs and how to integrate them into a longterm innovation strategy for businesses.
1. The document discusses applying open innovation strategies at different stages of a company's innovation process - idea generation, idea development, and commercialization.
2. It recommends first assessing where a company's innovation process typically stalls, then using open innovation to source new insights and ideas from external partners during idea generation.
3. During idea development, the document suggests using external developers, venture funding, or acquisitions to further build out promising ideas.
4. For commercialization, it proposes leveraging suppliers, developers, and other partners to accelerate launching new products and capture more value from innovations.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
This document discusses the need for organizations to innovate and manage innovations in the current economic climate. It outlines several key challenges to innovation, including convincing employees that all ideas have potential, overcoming leadership barriers, avoiding over-innovation, managing long innovation lifecycles, and preventing imitation. The document proposes a three-step SPT (Strategy, Process, Technology) framework to streamline the innovation lifecycle. As part of the strategy step, it recommends conducting due diligence and SWOT analyses to evaluate an organization's innovation capabilities and define innovation goals. People, culture, and role allocation are identified as major factors influencing an organization's innovation culture and readiness.
The document discusses factors for success and failure in innovation. It outlines an innovation growth model with 5 phases (adhoc, program, co-creation, eco-innovation, value chain innovation) and the challenges of moving between each phase. Key success factors discussed are people, management processes, tools, and opening innovation processes to external partners through co-creation.
This document discusses balancing creativity and business needs in managing research and development (R&D) projects. It proposes a six-step project management framework to effectively manage innovation given practical constraints of time and budget. While creativity thrives on uncertainty and freedom, some process is needed to move ideas through an "innovation funnel" toward commercialization. Adopting project management practices can help accelerate the innovation process if the processes acknowledge differences between researchers focused on novelty and engineers focused on prototypes and pilots.
An integrated approach to managing innovationDr.Rajesh Patel
Western businesses can no longer rely on price alone to compete globally due to lower costs in other regions. Innovation is necessary to differentiate products and services. The UK has historically been good at generating ideas but not commercializing them. Innovation must be linked to business strategy to focus resources effectively. Ideas can come from various internal and external sources, and should be managed through an "Innovation Hub" where they are collected and screened using a process like V-SAFE to assess value, suitability, acceptability, feasibility, and enduring benefits. Successful innovation is built into business processes at multiple levels and supported by tools and rewards that encourage sharing ideas.
Managing Director Dr. Giordano Koch shows how to run successfull innovation labs and how to integrate them into a longterm innovation strategy for businesses.
Business Innovation Report by TrendsSpotting: Innovation Strategy, Performanc...Taly Weiss
This document provides a summary of a business innovation report that covers various topics related to innovation including definitions of innovation, innovation strategies, measuring innovation performance, and case studies. The report is intended to provide an in-depth understanding of innovation and its link to business success. It introduces definitions of innovation, explores common forms of innovation with examples, and discusses disruptive innovation and innovation strategies. It also looks at rankings of innovative companies, measuring innovation, and concludes with a case study and references.
Why innovation is important to business successFrank Reynold
Innovation is coming up with a new idea and turning it into an effective process, a new product or service. The implementation of creativity and innovation in business is likely to incorporate success and help you stand competitiveness in the market. Innovation can be referred to as something new or introduced differently and has impact on market or society.
This document proposes a model for structuring innovation within companies. It summarizes research on how companies approach innovation and highlights some key insights. The model suggests that companies structure innovation around the phases of identification, development and commercialization, as the skill sets needed for each differ. It also recommends separating radical and incremental innovation efforts, as the sources and risks involved are very different. Establishing spin off or isolated groups may help identify disruptive innovations that challenge a company's existing competencies.
This document summarizes a chapter about managing innovation as a core business process. It discusses how the innovation process can be modeled and managed. Variations in innovation like between industries and organization sizes are explored. Successful management of innovation over time allows organizations to develop routines around innovation. Measuring innovation success depends on consistent contribution to growth rather than inventions alone.
The document discusses business model innovation and creating growth through innovative business models. It explores how business model innovation is linked to customer value creation and defines growth opportunities. Key points discussed include:
1) Short-term competitive advantage comes from exploiting existing business models, but long-term growth requires exploring new business models and sources of customer value.
2) An innovative business model focuses on delighting customers by understanding perceived benefits, costs, and risks from the customer's perspective.
3) Over time, the focus of customer value creation has expanded from basic products to integrated solutions, experiences, and addressing functional, emotional, social, and altruistic benefits.
4) To gain competitive advantage requires developing experience-based solutions that
The document discusses why innovation is important for nations, regions, and firms. It states that innovation is a key driver of economic growth for nations and helps ensure firms' survival and growth. For firms specifically, innovation is important for reasons such as gaining competitive advantages, protecting market share, stimulating employees, and improving financial performance. Nationally, innovation creates jobs, increases welfare, and is responsible for virtually all economic growth since the 18th century.
The document discusses the front end of innovation and provides a common framework to understand and manage it. It introduces the New Concept Development (NCD) model, which defines the key elements of the front end as opportunity identification, idea generation and enrichment, and idea selection. The model aims to provide clarity, common terminology, and optimize the "fuzzy front end" activities that occur before structured new product development begins. The document also briefly defines opportunities and ideas as the most important elements of the front end that the NCD model addresses.
The document summarizes a two-day workshop on innovation led by Cheryl Perkins and Patrick Clusman at the CII Innovation Center in Shanghai on February 27-28, 2012. Cheryl Perkins is the president of Innovationedge and former Chief Innovation Officer of Kimberly-Clark. Patrick Clusman is the COO of Innovationedge and formerly held leadership roles at Kimberly-Clark. The workshop aims to help participants make innovation work within and outside their organizations through discussions on linking innovation strategies to business, leading for innovation, creating an innovative culture, and conquering innovation fatigue.
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
Accelper Training And Certification PresentationPraveen Gupta
The document discusses Accelper Consulting's innovation training and certification programs. It highlights case studies where the training reduced innovation timelines from over a year to just days or weeks. The training is meant to teach organizations how to engage employees at all levels in innovation to drive profitable growth. It describes the Brinnovation framework, certification process involving theory, practice, and projects, and guarantees competency development. Accelper recommends scheduling a pilot program to launch the training.
The document discusses the importance of innovation for organizational change and success, noting that innovation happens through creative collaboration, idea generation tools, and an idea management system to evaluate ideas, with management playing a key role in establishing an innovative culture and powering the corporate innovation machine.
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
This document summarizes Praveen Gupta's article about adapting John Kotter's model of leading change to managing innovation in organizations. The key points are:
1. Kotter's eight-stage process for leading change is adapted to driving innovation in corporations by establishing urgency for innovation, creating a guiding coalition, developing a vision and strategy, and communicating the change vision.
2. A new "Brinnovation" framework is presented that builds on employees' talents and simplifies the innovation process with strategies, rules, and a methodology.
3. Creating a culture of innovation requires changing organizational practices to inspire, implement, and reward innovations, such as emphasizing growth over short-term profits and inspiring employee
Organizational Innovation Report by TrendsSpotting: Implementing innovation i...Taly Weiss
In this review we collects insights from academic research, leading analysts and consultancies and observe related case studies, to come up with best practices for the implementation of innovation in organizations. We review models for innovation leadership, culture, innovation strategy and goals; discuss mechanisms for learning and knowledge sharing, and review the required set of incentives and rewards. Focusing on Innovation challenges we collect insights and best practices regarding strategy alignment, management support, idea generation and commercialization, speed, lean processes, innovation events and sharing platforms as well as innovation metrics. In search for optimal innovation implementation methods, we review studies on high performing companies and present case studies on how innovative companies implement innovation in their organization.
The 130 page PPT report “Organizational Innovation: Implementing innovation in organizations” is targeted at innovation stakeholders and aids in structuring the organization towards effective innovation.
This is a sample report.
Unleashing innovation across the value chainGuneet Gyani
The document discusses unleashing innovation across the value chain. It defines innovation as using existing resources and leveraging external factors like technology and policies to improve efficiency. The document advocates for an "innovation hub" structure within organizations to promote ideation, implementation, sustainability, and permeability of innovation. It provides examples of innovation at Tata Nano and Devi Prasad Shetty Hospitals. The conclusion emphasizes measuring innovation at all levels and tying it to overall performance, delivering value through innovation, and the role of education and government in fostering a culture of innovation.
20 Innovation Tools that can help make innovation projects more successful and enjoyable.
We hope that this booklet can inspire you to challenge the way you innovate. Try out some of it with your teams right away, rather than wait for the perfect occasion.
This document discusses balancing creativity and business needs in managing research and development (R&D) projects. It proposes a six-step project management framework to effectively manage innovation given practical constraints of time and budget. While innovation is important for business success, creative ideas must be developed and commercialized through a structured process to realize benefits. The framework includes phases for concept generation, implementation and testing, and socialization and marketing to convert inventions into innovations. Managing innovation poses challenges as researchers prioritize novelty over processes, and their goals differ from engineers and marketers. An effective process acknowledges ideas evolve through an "innovation funnel" from unclear concepts to clear, commercialized products.
Innovation process management whitepaperNeeraj Thakur
The document outlines an Innovation Process Management (IPM) solution based on the Microsoft platform to help companies manage ideas from capture through selection. The IPM solution enables companies to widen their idea pipeline, formalize the innovation process, and optimize return on investment through six stages: strategize, capture, formulate, evaluate, define, and select. The solution is built on technologies like Office SharePoint Server, Office InfoPath, and Microsoft Enterprise Project Management to facilitate collaboration and management of the innovation process.
Innomantra Viewpoint - Getting Bold innovation Right v1.0 Innomantra
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
The element ‘SUPPORT’ finds relevance in the innovation management system. To manage innovation effectively, the organization should jump in and facilitate the required resources for establishing, implementing, maintaining, and continual improvement of the innovation management system. The resources come in different forms such as Time, Knowledge, Financial resources, Infrastructure, and Human resources. For effective implementation of the standard, organizations are responsible for determining, providing, and managing the right people. Organizations must identify and develop teams with diverse backgrounds, to enhance cross-pollination and leverage the collective competence of the organization (ISO 56002:2019).
The element 'SUPPORT' encompasses the following sub-clauses, which are the different ways in which support could be extended:
Organisations continue to search for the magic snake oil that will bring their innovation programs to life. But there is no magic. Its about building a portfolio of experiments and abolishing the "big-bang" approach that looks for the one thing to transform the business.
How any organisation can drive culture and design systems to pursue practical...Toby Farren
This whitepaper will provide an insight into the different elements of modern innovation fostering,
including the various factors determining the capability of organisations to innovate internally;
the differences between frontend and backend innovation; and a focus on the relatively new
‘open’ innovation methods (including the advantages of utilizing sandboxes in the frontend
innovation process as well as collaborating with external bodies).
Business Innovation Report by TrendsSpotting: Innovation Strategy, Performanc...Taly Weiss
This document provides a summary of a business innovation report that covers various topics related to innovation including definitions of innovation, innovation strategies, measuring innovation performance, and case studies. The report is intended to provide an in-depth understanding of innovation and its link to business success. It introduces definitions of innovation, explores common forms of innovation with examples, and discusses disruptive innovation and innovation strategies. It also looks at rankings of innovative companies, measuring innovation, and concludes with a case study and references.
Why innovation is important to business successFrank Reynold
Innovation is coming up with a new idea and turning it into an effective process, a new product or service. The implementation of creativity and innovation in business is likely to incorporate success and help you stand competitiveness in the market. Innovation can be referred to as something new or introduced differently and has impact on market or society.
This document proposes a model for structuring innovation within companies. It summarizes research on how companies approach innovation and highlights some key insights. The model suggests that companies structure innovation around the phases of identification, development and commercialization, as the skill sets needed for each differ. It also recommends separating radical and incremental innovation efforts, as the sources and risks involved are very different. Establishing spin off or isolated groups may help identify disruptive innovations that challenge a company's existing competencies.
This document summarizes a chapter about managing innovation as a core business process. It discusses how the innovation process can be modeled and managed. Variations in innovation like between industries and organization sizes are explored. Successful management of innovation over time allows organizations to develop routines around innovation. Measuring innovation success depends on consistent contribution to growth rather than inventions alone.
The document discusses business model innovation and creating growth through innovative business models. It explores how business model innovation is linked to customer value creation and defines growth opportunities. Key points discussed include:
1) Short-term competitive advantage comes from exploiting existing business models, but long-term growth requires exploring new business models and sources of customer value.
2) An innovative business model focuses on delighting customers by understanding perceived benefits, costs, and risks from the customer's perspective.
3) Over time, the focus of customer value creation has expanded from basic products to integrated solutions, experiences, and addressing functional, emotional, social, and altruistic benefits.
4) To gain competitive advantage requires developing experience-based solutions that
The document discusses why innovation is important for nations, regions, and firms. It states that innovation is a key driver of economic growth for nations and helps ensure firms' survival and growth. For firms specifically, innovation is important for reasons such as gaining competitive advantages, protecting market share, stimulating employees, and improving financial performance. Nationally, innovation creates jobs, increases welfare, and is responsible for virtually all economic growth since the 18th century.
The document discusses the front end of innovation and provides a common framework to understand and manage it. It introduces the New Concept Development (NCD) model, which defines the key elements of the front end as opportunity identification, idea generation and enrichment, and idea selection. The model aims to provide clarity, common terminology, and optimize the "fuzzy front end" activities that occur before structured new product development begins. The document also briefly defines opportunities and ideas as the most important elements of the front end that the NCD model addresses.
The document summarizes a two-day workshop on innovation led by Cheryl Perkins and Patrick Clusman at the CII Innovation Center in Shanghai on February 27-28, 2012. Cheryl Perkins is the president of Innovationedge and former Chief Innovation Officer of Kimberly-Clark. Patrick Clusman is the COO of Innovationedge and formerly held leadership roles at Kimberly-Clark. The workshop aims to help participants make innovation work within and outside their organizations through discussions on linking innovation strategies to business, leading for innovation, creating an innovative culture, and conquering innovation fatigue.
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
Accelper Training And Certification PresentationPraveen Gupta
The document discusses Accelper Consulting's innovation training and certification programs. It highlights case studies where the training reduced innovation timelines from over a year to just days or weeks. The training is meant to teach organizations how to engage employees at all levels in innovation to drive profitable growth. It describes the Brinnovation framework, certification process involving theory, practice, and projects, and guarantees competency development. Accelper recommends scheduling a pilot program to launch the training.
The document discusses the importance of innovation for organizational change and success, noting that innovation happens through creative collaboration, idea generation tools, and an idea management system to evaluate ideas, with management playing a key role in establishing an innovative culture and powering the corporate innovation machine.
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
This document summarizes Praveen Gupta's article about adapting John Kotter's model of leading change to managing innovation in organizations. The key points are:
1. Kotter's eight-stage process for leading change is adapted to driving innovation in corporations by establishing urgency for innovation, creating a guiding coalition, developing a vision and strategy, and communicating the change vision.
2. A new "Brinnovation" framework is presented that builds on employees' talents and simplifies the innovation process with strategies, rules, and a methodology.
3. Creating a culture of innovation requires changing organizational practices to inspire, implement, and reward innovations, such as emphasizing growth over short-term profits and inspiring employee
Organizational Innovation Report by TrendsSpotting: Implementing innovation i...Taly Weiss
In this review we collects insights from academic research, leading analysts and consultancies and observe related case studies, to come up with best practices for the implementation of innovation in organizations. We review models for innovation leadership, culture, innovation strategy and goals; discuss mechanisms for learning and knowledge sharing, and review the required set of incentives and rewards. Focusing on Innovation challenges we collect insights and best practices regarding strategy alignment, management support, idea generation and commercialization, speed, lean processes, innovation events and sharing platforms as well as innovation metrics. In search for optimal innovation implementation methods, we review studies on high performing companies and present case studies on how innovative companies implement innovation in their organization.
The 130 page PPT report “Organizational Innovation: Implementing innovation in organizations” is targeted at innovation stakeholders and aids in structuring the organization towards effective innovation.
This is a sample report.
Unleashing innovation across the value chainGuneet Gyani
The document discusses unleashing innovation across the value chain. It defines innovation as using existing resources and leveraging external factors like technology and policies to improve efficiency. The document advocates for an "innovation hub" structure within organizations to promote ideation, implementation, sustainability, and permeability of innovation. It provides examples of innovation at Tata Nano and Devi Prasad Shetty Hospitals. The conclusion emphasizes measuring innovation at all levels and tying it to overall performance, delivering value through innovation, and the role of education and government in fostering a culture of innovation.
20 Innovation Tools that can help make innovation projects more successful and enjoyable.
We hope that this booklet can inspire you to challenge the way you innovate. Try out some of it with your teams right away, rather than wait for the perfect occasion.
This document discusses balancing creativity and business needs in managing research and development (R&D) projects. It proposes a six-step project management framework to effectively manage innovation given practical constraints of time and budget. While innovation is important for business success, creative ideas must be developed and commercialized through a structured process to realize benefits. The framework includes phases for concept generation, implementation and testing, and socialization and marketing to convert inventions into innovations. Managing innovation poses challenges as researchers prioritize novelty over processes, and their goals differ from engineers and marketers. An effective process acknowledges ideas evolve through an "innovation funnel" from unclear concepts to clear, commercialized products.
Innovation process management whitepaperNeeraj Thakur
The document outlines an Innovation Process Management (IPM) solution based on the Microsoft platform to help companies manage ideas from capture through selection. The IPM solution enables companies to widen their idea pipeline, formalize the innovation process, and optimize return on investment through six stages: strategize, capture, formulate, evaluate, define, and select. The solution is built on technologies like Office SharePoint Server, Office InfoPath, and Microsoft Enterprise Project Management to facilitate collaboration and management of the innovation process.
Innomantra Viewpoint - Getting Bold innovation Right v1.0 Innomantra
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
The element ‘SUPPORT’ finds relevance in the innovation management system. To manage innovation effectively, the organization should jump in and facilitate the required resources for establishing, implementing, maintaining, and continual improvement of the innovation management system. The resources come in different forms such as Time, Knowledge, Financial resources, Infrastructure, and Human resources. For effective implementation of the standard, organizations are responsible for determining, providing, and managing the right people. Organizations must identify and develop teams with diverse backgrounds, to enhance cross-pollination and leverage the collective competence of the organization (ISO 56002:2019).
The element 'SUPPORT' encompasses the following sub-clauses, which are the different ways in which support could be extended:
Organisations continue to search for the magic snake oil that will bring their innovation programs to life. But there is no magic. Its about building a portfolio of experiments and abolishing the "big-bang" approach that looks for the one thing to transform the business.
How any organisation can drive culture and design systems to pursue practical...Toby Farren
This whitepaper will provide an insight into the different elements of modern innovation fostering,
including the various factors determining the capability of organisations to innovate internally;
the differences between frontend and backend innovation; and a focus on the relatively new
‘open’ innovation methods (including the advantages of utilizing sandboxes in the frontend
innovation process as well as collaborating with external bodies).
This document provides an overview of innovation, including definitions of innovation, a brief history of innovation, and the infrastructural needs to support innovation. It discusses innovation at the individual, collaborative, and enterprise levels. It also outlines the innovation process and applications of innovation to business, including marketing, organizational, and process innovation. Finally, it discusses the role of innovation in services and countries.
This document provides a methodology for innovation at both the organizational and regional levels. It outlines a multi-step process including an initial kick-off, audit, ideas lab, implementation, roll-out, and continuous improvement. For organizations, the focus is on discrete innovation projects. For regions, the approach centers on continuous innovation through business incubation activities, research, idea generation, and implementation of infrastructure and support services. Key activities at the regional level include clustering industries and knowledge transfer partnerships.
The document discusses success and impact in innovation programs. It outlines the key phases of innovation - ideation, evaluation, incubation, and transformation - and what success looks like for each phase. For ideation, success is generating novel ideas, while for evaluation it is demonstrating an idea's potential benefits. Incubation requires showing an idea is feasible through prototypes, and transformation means operationalizing an idea through standard business metrics like revenue. The document stresses the importance of aligning innovation work with business goals and partnering across functions to ensure successful handoffs between phases.
Managing innovation within firms-Chapter 4 (Paul Trott).pptxAartiPandey63
1. The document discusses the tension within organizations between the need for stability and efficiency versus the need for creativity and innovation. It notes that companies must balance these competing demands to be successful both today and in the future.
2. It explores the "innovation dilemma" where pursuing innovation too far can lead to failure, but pursuing it too little can also lead to company failure. Finding the right balance is difficult.
3. Several tools and factors that can help facilitate innovation within organizations are discussed, including having a growth orientation, accepting risks, cross-functional cooperation, and providing space for creativity. Formal structures, centralized decision-making, and size can impact innovation as well.
2016 - 2. Innovation as a core business process.potNadia Lushchak
The document discusses innovation processes and capabilities. It defines innovation processes as a series of changes from ideas to new products and services. The main stages are beginning with a problem or challenge, generating ideas collaboratively, combining and evaluating ideas, developing ideas, and implementing ideas. It also discusses four types of organizational innovation capabilities - from unaware to creative dominant positions. Sustainable innovation requires the right strategy, processes, organization, linkages, and learning to bridge ongoing and disruptive changes.
1. The document discusses how to establish and sustain innovation within organizations. It emphasizes that innovation requires inspiring and motivating employees to collaborate in developing new ideas.
2. Key recommendations include establishing a clear definition of innovation, creating communities for sharing ideas, developing processes to progress ideas to execution, and gaining leadership support through commitment and resources.
3. Training, establishing innovation champions, learning from prototypes and failures, and measuring success are also presented as important factors for a successful organizational innovation initiative.
The document discusses tools for creating competitive advantage through innovation. It outlines different types of innovation, including products, processes, marketing, and organization. Successful innovation requires understanding customer needs and building products to meet those needs. Companies must change existing meanings and bring radically innovative products to market in order to gain a competitive edge. Innovation does not come solely from designers but from a long process involving various actors within and outside an organization. Fostering creativity throughout an entire organization, not just a few individuals, can lead to innovative ideas and competitive advantage.
Proctor & Gamble has a long history of innovation dating back to its founding in 1837. To increase innovation output, P&G created the Connect & Develop program to collaborate with external experts. This open innovation approach helped deliver innovations faster and cheaper. P&G also uses the voice of the customer to understand user needs and drive new product development. Innovation and change management are closely linked, as innovation requires successfully managing organizational change.
Mc kinsey the eight essentials of innovationChien Do Van
The document discusses eight essential attributes that are present in companies that are high performers in innovation. It summarizes each of the eight essentials: Aspire, Choose, Discover, Evolve, Accelerate, Scale, Extend, and Mobilize. Aspire involves setting an innovation vision and targets. Choose focuses on prioritizing innovation opportunities and managing risk through a portfolio approach. Discover is about generating insights through customer learning and external networks.
The document discusses the evolution of innovation models from closed to open. It explains that in the past, companies relied solely on internal research and development, but that open innovation has become more important. Open innovation involves collaborating with external partners such as suppliers, customers, universities and more. This allows companies to access a wider range of ideas and expertise beyond their own walls. Some challenges of open innovation mentioned include changing company culture, managing partnerships and intellectual property issues. Overall open innovation is seen as key to innovation in many industries like food and drink where collaborations with suppliers, customers and consumers dominate the ecosystem.
The document outlines the agenda for a 3-day workshop on rapid disruptive innovation. The workshop will cover various phases of disruptive innovation including problem definition, trend spotting, scenario development, disruptive idea generation, idea evaluation, prototyping, and presentation. Participants will learn tools and techniques for each phase, and work through exercises applying a 90-day methodology to generate disruptive ideas and prototypes for an identified problem or opportunity.
CIOAA partnered with NTT Communications to organise this exclusive CIO Workshop bringing together a select group of tech leaders to discuss game-changing strategies on how innovation can re-shape businesses today.
Book Review Strategic Innovation Embedding Innovation As A Core Competency In...Elaine Mao Yanlan
This document summarizes a presentation about embedding innovation as a core competency in an organization. It discusses Whirlpool's journey to embed innovation through establishing a vision, developing leaders, changing culture and values, creating resources specifically for innovation, and implementing knowledge management and learning systems. The presentation outlines Whirlpool's goals for innovation, accountability measures, and how different elements of the organization were adapted to internalize innovation using a framework called the "embedment wheel".
This document discusses integrating process improvement and transformational innovation. [1] It notes that organizations face challenges innovating due to tight budgets but need flexibility in solutions. [2] Innovations can impact internal processes, products/services, or business models/markets differently. [3] Any innovation diffuses through communication over time within a social system. Organizations must transform themselves to appear reliable to mainstream markets and innovate internally before pursuing new products or markets. The document provides recommendations for innovating on a tight budget like focusing on internal processes or leveraging university speakers.
Similar to Challenges Of Measuring Innovation.Pdf (20)
1. Issue 23 CEO Europe CEO Files
The Challenges of Measuring Innovation
Written by Charu Bahri, first printed in IT magazine, India
The age of IT is in many ways an age of innovation. Our ever burgeoning,
discerning, global consumer base recognises and rewards newness in
product and process. Such prospective demand fuels R&D efforts across the
world. But how is innovation measured?
The value of a new product or process depends on its market reception. Correctly
gauged, this can translate into billions of rupees for an organisation. But an incorrect
measure of innovation can spell its doom. After all, any R&D process calls for major
budgetary outlays. In fact, R&D budgets often appear over-the-top, but cutting these
may imply that a company is left with fewer products in the pipeline – a far from
healthy situation, especially if the company’s bottomline is driven by innovation.
In Innovation and Entrepreneurship, management guru Peter Drucker defined
innovation as a “specific instrument of entrepreneurship” and “the act that endows
resources with a new capacity to create wealth.” In a world where change is rapid,
and where a certain technology saturation level is already being spoken about, the
quality and maturity of innovation metrics have assumed an important role in
business. Innovation has, in many ways, become the central competitive factor in
many industries, which must be measured from both – a technological as well as a
human perspective.
The importance of the market’s maturity
The innovation process undoubtedly needs attention and funds, but this expenditure
must be focused towards minimising risk. Besides, technological innovation must be in
sync with market expectations or the level of maturity of a market, so as to ensure
the easy absorption of new products.
As Gurudev Goud, regional director – global technology alliance and partner relations,
and Prakasan Kappoth, manager – systematic innovation, both from MindTree
Written by Consulting, say, “Many technology products fail in the market because consumers are
Gurudev Goud, not yet ready to accept them, as they are ahead of their time. The Apple Newton is a
iCEO #26271 good example of such a product. If consumer expectation is a measurement criterion,
then yes, a failure to gauge the maturity level of a market leads to the failure of an
innovation.”
Find us on the Web:
Research associate at the MIT Media Lab and a senior adviser to MIT’s Security
www.ceo-europe.com
Studies Programme, Michael Schrage emphasises this marketability aspect of
innovation by saying, “Innovation is not what innovators innovate; it is what
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customers actually adopt.”
2. CEO Expert Files Page 2 / 5
What you spend is not always what you get
It would, however, not be correct to assume that any innovation accepted by the
market is good, regardless of its cost. Customer acceptance is a factor external to an
organisation. Other internal factors, such as R&D spending, have a bearing on the
quality of innovation. Goud and Kappoth highlight the financial constraints of
innovation, especially insofar as ‘commercial innovation’ is concerned. They very
practically point out that, “Ideas popping up in one’s mind very soon become
shadowed by the implementation cost.”
In other words, a good idea is not the sole measure of innovation. The idea must
translate into a commercially feasible product, implying that both the process of
product development and the product pricing must correlate with market expectations
and the potential returns from the product. Hence, a case of “Let’s spend more, since
we’ll end up with a better product” might not be financially sustainable.
Goud and Kappoth make another interesting observation about R&D spending and
innovation. According to them, “The real innovation happens when one works within
constraints, or makes something possible with the constraints.”
The influence of management policy
The mindset of an individual is also affected by an organisation’s management
policies. Employees need an environment conducive to innovation, and once the right
ideas emerge, these must be steered in the right direction by a proactive
management. According to Goud and Kappoth, “Management nurturing is very
important for the success of any innovation. The experimental mindset of an
organisation plays a crucial role in encouraging an individual, and creating a
motivating and supportive eco-system.”
In fact, controls over the innovation process may only be implemented when a sound
management policy that’s based on innovation best practices is in place. This in turn
entails measuring innovation, as putting a value on innovation will help comparison
between simultaneous R&D efforts. In a competitive environment, this enables the
allocation of limited resources to where they can do a company the most good.
The creative angle
Written by But as Dr Ashok Jhunjhunwala of the Department of Electrical Engineering at the
Gurudev Goud, Indian Institute of Technology, Chennai comments, “There can’t really be an objective
iCEO #26271 criteria for this [measuring innovation]. This requires knowledge of market,
technologies available, the technology being patented, and the price point at which it
can be introduced. The value is finally dependent on market success. Only a feel of
Find us on the Web: experienced people, rather than objective criteria can be used.”
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+33 (0) 970 448 419 The crux is that innovation is a creative process – and all creative processes involve
an aspect of venturing into the unknown, or doing what has never been done before.
An innovation metric must value its creativity as well as its functionality and business
prospects. In the case of new technology, a value must be assigned to the entire
range of the potential uses of the technology.
3. CEO Expert Files Page 3 / 5
In business parlance, this assumes the nature of a technology diffusion study, which
looks into all possible ways a new technology may be applied. A listing of these uses
is followed by a market projection for each, thus arriving at the value of the
technology.
The valuation process: First ideation
In a sense, the lifecycle of an idea is itself a process of valuation. An idea enters two
distinct phases, ideation and incubation, prior to being developed into a product.
Ideation is the process wherein the management studies all aspects of the idea to
determine if it is in consonance with the organisation’s overall business direction, and
hence worthy of financial backing.
M Sridhar Chakravarthi, CEO of Sridhar’s Quality Academy, explains two processes --
the evaluation of the return on investment and the potential impact of an innovation -
- as the practice of asking why we want to implement an innovative idea. As he says,
“There has to be a very objective evaluation. ‘To improve client satisfaction’ is very
vague. ‘To reduce billing cost per seat by $1 per hour’ is exciting and well appreciated
by clients.”
A part of the ideation phase is a commercial feasibility study as well as a cost-benefit
analysis, wherein Chakravarthi says the management understands the efforts and
expenses involved in implementing the idea. These could involve re-training
expenses, which he cites as usually neglected, or examining current commitments
and other delivery pressures to come up with a possible implementation schedule. If
the idea is relegated to the future due to lack of time, then the idea may not be worth
the effort, as it failed to create the necessary urgency.
While a certain section of people reckon that the valuation of innovation starts at the
ideation phase, Goud and Kappoth believe measuring ideation may harm the idea
generation capability in an innovation life cycle. They explain that ideation is a very
sensitive and delicate process and hence, it should be nurtured rather than measured.
Incubation: getting your priorities right
The incubation phase that follows ideation also plays an important role in the process
of measuring innovation. Chakravarthi describes this stage as the implementation of
an idea, wherein actual brick and mortar work is done, and the necessary funds and
resources are committed. The process needs to be carefully controlled and monitored.
Written by
Gurudev Goud, As he says, “There is no point in launching multiple teams with many initiatives and
iCEO #26271 not monitoring their progress, as they would end up like our joint parliamentary
committees, with hardly any results, if ever.” An idea that is deemed a potential
success during the incubation stage enters the process of product development.
Find us on the Web:
www.ceo-europe.com An interesting observation made by Futurethink, a leading innovation research, tools
and services firm, during its 2007 Futurethink Innovation Tracker survey, is that
+33 (0) 970 448 419 companies that consistently emphasise ‘delivering value’ over creativity per se, are
significantly more effective at innovating. As such, while creativity must be
emphasised, innovation may no longer be considered a predominantly creative
endeavour.
4. CEO Expert Files Page 4 / 5
In the words of Lisa Bodell, CEO of Futurethink, “The free flow of ideas and
creativity should not be underestimated. However, they should be viewed as a
means to an end, not the end result.” The end now translates as delivering value, by
launching a new product or process, after formulating an effective business strategy.
Innovation by the takeover route
Innovation can occur anywhere – in a garage or in a corporate R&D lab. But
essentially, every idea goes through valuation processes prior to being converted
into a saleable product. Some people believe that the real breakthroughs of our
century were born in garages! Does that mean their valuation process was better?
Not really, but it is true that while companies may be able to generate more ideas,
they have more at stake. Their investments are obviously greater than a start-up,
which is perhaps why we so often see huge companies purchase the work of smaller
companies and launch or re-launch their products.
Such takeovers make the process of valuing the worth of innovation much easier, as
the spadework has already been effectively done on a small scale. This indicates the
inherent difficulty of measuring innovation, and also points to the fact that
innovation is not always born in R&D labs. In fact, innovation that’s related to
improving the efficiency, effectiveness and productivity of an organisational process,
is often arrived at by employees on the job. For instance, one of Dell Computers’
greatest innovations was to pioneer a new way of selling – customers specifying
build-to-order systems online.
Chakravarthi mentions three aspects of innovation – innovation aimed at solving a
problem, an internal initiative aimed at improving business results by refining
existing processes (even when they are working well), and thirdly, value addition for
clients. He explains the last as, “What we do when we are forced by clients to justify
our continued association. We then think out-of-the-box to come up with value
additions for our clients!”
The incremental nature of innovation
All said and done, innovation may yield a new product or process, and insofar as
products are concerned, it may produce a completely new product, technology or
relate to ongoing product or technological development.
Written by
Gurudev Goud, In fact, the incremental nature of innovation in the world of information technology
iCEO #26271 has made it easier to file a patent for a product, technology or process. Goud and
Kappoth point out that anyone can file for a patent – if they could afford it – by
making minor changes to, and thus bypassing, an existing patent. So while the
Find us on the Web: creation of an innovation portfolio may list the number of patents as measurement
criteria, the success of an innovation in real terms cannot be related to patent
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activity.
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Besides, patent activity fails to capture process and business model innovations –
the former is especially applicable in the case of ongoing product development.
Process improvements may be linked to better functionality, cost or size reductions.
5. CEO Expert Files Page 5 / 5
However, according to Goud and Kappoth, innovations related to new product
developments are more synergetic than ongoing product development. People
involved in the process of developing completely new products tend to be more
enthusiastic about researching a technology, markets, etc – which is great because
launching a new technology or product requires emphasis on the execution of
innovation. It is not enough to have an innovative product. The potential pitfalls are
many – manufacturing, reliability, marketing, usability, customer support, costs, etc.
Hence, a business needs to focus on business variables alongside R&D metrics.
Goud and Kappoth believe the type of metrics account for the success of a product.
For instance, time and effort – a typical metric – may not have any impact on the
success of a product, but metrics that explain where in the products’ S – Curve a
business is, where it needs to go, and how, make more sense and are more
relevant.
IBM’s EBO framework
In 2003, IBM came up with an emerging business opportunities (EBO) framework in
partnership with Product Development Consulting Inc. The two firms put together
their experience, available research and a database of innovation best practices to
come up with a framework that helps tackle the problem of measuring innovation.
This framework provides an objective way to measure many processes, and
separates the development of completely new products and technologies from
ongoing product improvement.
The model covers 30 aspects of innovation, aiming to help organisations figure out
what works and what doesn’t. In a sense, the exhaustive coverage of this framework
indicates that while there is no single measure of innovation, there is no escaping
this process. Our increasingly competitive world requires, even forces, IT companies
to innovate, or be left behind.
So if your innovation budgets are significant, you may need to take a long, hard look
at your current innovation process to determine how mature your innovation metrics
are. It is not an easy task but it definitely has the potential to transform your
business.
About the author:
Written by Charu Bahri is a freelance writer, columnist
Gurudev Goud, and [part-time] manager, Projects and
iCEO #26271 Information Systems at J Watumull Global
Hospital & Research Centre.
Find us on the Web:
www.ceo-europe.com The article has been written in cooperation with Gurudev
Goud, who has over 15 years of technology selling
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experience in Healthcare, Logistics, IT, Telecom,
Semiconductor and Software industry and focuses as
Senior Director on strategies to forge, encourage, and
leverage Technology Alliances to generate business
globally