Creativity and innovation in marketing involves coming up with new ideas and implementing them. Elements of creativity include advertising, public relations, and sales promotions. Effective creativity in these areas connects with the target audience, communicates benefits, and persuades people. It uses techniques like surprise, interesting information, and highlighting benefits. Creativity can build brand values by reinforcing feelings and creating new attitudes. The process of innovation involves generating ideas, screening them, testing feasibility, implementing ideas, and commercializing new products or services. Innovation is important for companies to improve, enter new markets, and adapt to changes.
This talk was delivered on 15th September (Engineers Day) at BML Munjal University. It covers differences between invention, innovation, entrepreneurship, and startup. It discussed innovation landscape, types of innovation, and three important types of innovation in today's world. Innovator's method and innovators skills are also provided.
In Entrepreneurship section, who are entrepreneurs, types of entrepreneurs, entrepreneurial mindset and effectual thinking are discussed. Future of organization is discussed briefly along with why its necessary to learn entrepreneurship. Idea to launch (#flow_with_ramesh), why startup fails (#flow_with_ramesh), are you a startup kid? (#flow_with_ramesh) And challenges of entrepreneurship are discussed. In the end, what three interesting things you can do from learning, mentors, and work is discussed. Lastly, I describe my experiences with innovation and entrepreneurship is discussed.
Hard work & Low cost do not help by themselves any more. Intellectual arbitrage is here to stay. Innovation is the way to stay ahead of the pack. Be the game changer. Let our C3 methodology (part of triniti Innovation Framework) help you break out of idea scarcity and convert your ideas into profitable, implementable solutions.
Types of Inventions; Difference between invention and innovation; Types of innovation; Innovation process vs Process innovation; Linear innovation models.. Technology push model, Market pull model; Flexible innovation process models
Get on top of Innovation by understanding the essentials. What it is. The types of Innovation and the elements of an Innovation ecosystem. Thanks for viewing orxil(a)yahoo.com
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
Innovation Management - 2 - Types of InnovationJoseph Ho
4 Types of Innovation
- Sustaining Innovation
- Breakthrough Innovation
- Disruptive Innovation
- Basic Research
Dimensions of Innovation Space
- Product
- Process
- Position
- Paradigm
It includes contents like goals of Innovation, types of Innovation (product innovation, process innovation, service innovation, incremental and radical innovation, modular and architectural inovation) and innovation models
This talk was delivered on 15th September (Engineers Day) at BML Munjal University. It covers differences between invention, innovation, entrepreneurship, and startup. It discussed innovation landscape, types of innovation, and three important types of innovation in today's world. Innovator's method and innovators skills are also provided.
In Entrepreneurship section, who are entrepreneurs, types of entrepreneurs, entrepreneurial mindset and effectual thinking are discussed. Future of organization is discussed briefly along with why its necessary to learn entrepreneurship. Idea to launch (#flow_with_ramesh), why startup fails (#flow_with_ramesh), are you a startup kid? (#flow_with_ramesh) And challenges of entrepreneurship are discussed. In the end, what three interesting things you can do from learning, mentors, and work is discussed. Lastly, I describe my experiences with innovation and entrepreneurship is discussed.
Hard work & Low cost do not help by themselves any more. Intellectual arbitrage is here to stay. Innovation is the way to stay ahead of the pack. Be the game changer. Let our C3 methodology (part of triniti Innovation Framework) help you break out of idea scarcity and convert your ideas into profitable, implementable solutions.
Types of Inventions; Difference between invention and innovation; Types of innovation; Innovation process vs Process innovation; Linear innovation models.. Technology push model, Market pull model; Flexible innovation process models
Get on top of Innovation by understanding the essentials. What it is. The types of Innovation and the elements of an Innovation ecosystem. Thanks for viewing orxil(a)yahoo.com
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
Innovation Management - 2 - Types of InnovationJoseph Ho
4 Types of Innovation
- Sustaining Innovation
- Breakthrough Innovation
- Disruptive Innovation
- Basic Research
Dimensions of Innovation Space
- Product
- Process
- Position
- Paradigm
It includes contents like goals of Innovation, types of Innovation (product innovation, process innovation, service innovation, incremental and radical innovation, modular and architectural inovation) and innovation models
The slide is all about Healthcare Marketing. How you can develop marketing strategies in healthcare market.
Healthcare is booming industry & in accordance with marketing concepts it is very necessary to do marketing of services.
Implementing Tech Startup Principles To Music BusinessArio Tamat
Attempting to use methodologies often used in building tech startups into building a business based on music. Suitable for music business students, music industry practitioners, early-stage businesses as an introduction presentation.
Created for SAE Jakarta Open House, Nov 12th, 2017
What is innovation? The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.
Innovation is generally considered to be the result of a process that brings together various novel ideas in a way that they have an impact on society.
What is competition? An innovation competition is a method or process of the industrial process, product or business development. It is a form of social engineering, which focuses to the creation and elaboration of the best and sustainable ideas, coming from the best innovators.
Competition is not just another business that might take money away from you. It can be another product or service that's being developed and which you ought to be selling or looking to license before somebody else takes it up.
Check out: www.eleaderstochange.com
Follow: #eleaders2change
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
2. Definition
– “creativity can be referred to as divergent
thinking namely, the ability to find unusual and
non-obvious solutions to a problem!”
– the act of turning new and imaginative ideas into
reality. Creativity involves two processes:
thinking, then producing.
3. Creativity in marketing
– The extent to which
an ad contains brand
or executional
elements that are
different, novel,
unusual, original,
unique, etc.
4. Elements of creativity in context to
marketing
What We Create
• Creating Added Value
• Creativity in…
– Advertising
– Public Relations
– Sales Promotion
5. Creativity in advertising
– Interest in an ad is influenced by…
– Surprise (Good)
– Information (Better)
– Benefits (Best)
– How about All 3?
– Example: Surprising information
tied into benefits.
6. Creativity in public relation
All brands have ads
Good PR about those ads adds extra
value
But it has to be “newsworthy!”
Every year, a company has an
anniversary.
Creative PR can make it something
special.
7. Creativity in sales promotion
– A Creative Approach can provide
to buy on top of the
Incentive!
8. Building brand value
– Creativity Can Build Brand Values
– It can Reinforce Existing Feelings
– It can Create New Feelings and Attitudes
• It can Add Image and Imagery
9. How creativity works
– Effective Creativity persuades
– Three Cornerstones of Persuasion
– It connects to the Target
– It communicates the Benefit
– Effective Creativity gets to “Yes”
– It gets you to “Just Do It”
10. Effective surprise
– It could be a Big Surprise!
– The “AHA”
– I never thought of it that way before (NIKE)
– It could be a Small Surprise Effective Surprise!
– The “Oh yeah!”
– That’s just the way I feel.
11. Creative action plan
– 1. Client
– 2. Target
– 3. Competition
– 4. Old/New Thought
– 5. Main Claim
– 6. Support
– 7. Added Tools
12. Now its time to think of big
idea!!!
– Big Ideas are great but they must be tied
back to your market objectives and
budget.
– Don’t let an Advertising agencies big
idea over ride your marketing objectives.
– Golden rule: If I was paying for the
campaign would I pay for it out of my
own pocket?
13. Creating ideas that sell
– 1. Connect with your target market
– • Example: Federal Express
understand the importance of care
and on time package delivery.
– 2. Beat the competition
– • Example: Japan Airlines Premium
Economy instead of Business Class…
14. Selling creative ideas
– Presentations Need Planning
– A Good Presentation Format:
– Present Problem/Assignment
– Unique Interpretation of Problem
– The Insight is introduced
– “The Reveal”
– Be ready for questions, comments and criticisms
15. Producing creative idea
– Now other specialized professionals and suppliers join
the creative team.
– Print team members
– Art buyers and Photographers
– Radio team members
– Announcers and Composers
– Television team members
– Actors and producers
16. Creative advertising
– Creative advertising is more memorable, longer lasting,
works with less media spending, and builds a fan
community faster!
17. Creativity in pharmaceutical
marketing
– On a degree of difficulty scale, marketing prescription
pharmaceuticals rates high on the list. It’s an industry like no other
— categorized by heavy restrictions, a shed load of data, and an
audience that is limited and hugely intelligent
– To top that off, there’s also limited time to monetize the new drug
before generics flood the market.
– educate those at the upper end of the knowledge chain.
– build brand loyalty and value above just price, and remain within
the confines.
18. Strategies for pharma industries
marketing
– 1. Know Your Target
– And by this, we don’t mean your sales targets. We mean knowing intimately
the niche your product is designed for. This is where pharmaceutical
companies have an edge on traditional marketing
– E.g.: Take, for instance, a drug that has been recently PBS-listed for reducing
nerve pain in patients, with slightly more efficacy than an incumbent.
– But changing drugs comes with risks attached.
– Doctors remain prescribing what they are familiar with.
– Creativity or strategy in this case is:
look more closely at the product to find something that is different from
19. 2. Leave a Breadcrumb, Not a Loaf
– It’s common practice to want to put every possible piece of data into marketing
materials like leave-behinds, brochures, print and digital ads, and iDetailers.
– we know that information overload acts as barrier to action.
– Ask any sales rep in the field, and they’ll verify this: “Do you feel like you’re
always presenting your doctors with compelling data but their behaviour doesn’t
change?”
– Creativity or strategy :
– Try and condense the information to what is going to be relevant to the
identified target audience.
20. 3. Lead with the Problem
– If you look at current pharmaceutical marketing, most of the
messaging leads with a solution, with no real set-up of a problem.
– For instance, a newly launched bronchodilator in the marketplace
would usually lead with messaging like “The first PBS-listed dual
bronchodilator for treatment of COPD”
– The audience has been presented with a treatment for COPD (the
solution) with no real set-up of why the solution is needed
(the problem it’s solving). As such, the audience has to work
harder to connect how to fit the solution into their world.
21. Creativity or strategy:
A better way to structure the messaging in this example could be
by leading with the problem.
Take, for example, this messaging:
• Are your patients complaining of breathlessness at night?
• Are monotherapies no longer working for your COPD patients?
Instantly, we’ve created a hook that speaks directly to the audience
by planting our solution into a problem they encounter in their
patients.
• highly effective way to drive engagement in a digital medium,
where attention is limited and ad size small.
Leading with the problem sets up questions and then a strong call
to action:
• Are monotherapies no longer effective for your COPD patient?
Click here to find out how what more can be done
22. Use an A3 Discussion Guide
– Leave-behinds have long been used by the pharmaceutical
sales and marketing departments to serve as a reminder of
sales conversations.
– At Step Change, we’ve found conversion rates double and
triple across businesses in all categories by producing these in
an A3 format and structuring the information as a discussion
guide rather than a brochure.
– Creativity :
– It provides detailed information about your product.
25. An innovation is…
– According to Oxford English Dictionary – Innovation
means introduction of something new. Thus Innovation
can be defined as the introduction of a new product,
service or process into the market place.
– The National Innovation Initiative (NII) of USA defines -
innovation as the intersection of invention and insight,
leading to the creation of social and economic value.
26. – Schumpeter argued that innovation comes about
through new combinations made by an entrepreneur,
resulting in
– a new product,
– a new process, opening of new market,
– new way of organizing the business
– new sources of supply
27. Many definitions of Innovation
– • To sum up… Innovation = Invention + Commercial
Exploitation
– It is a use of new knowledge to offer a new product or service
that customers want. Thus, it is
– Invention + Commercialization.
– “Innovation is the search for and the discovery, developed,
improvement, adoption and commercialization of new
processes, new products and new organization structures and
procedures.”
28. In pharmaceutical sense:
– Any change in the marketing mix that customers perceive
as new.
– It can be a change in products, services, or processes.
29. Bill Ford on Innovation
– “..if we want to succeed as a company – and as an industry –
we must drive innovation into everything we do: into
technology, into safety, into design and into real-world
solutions for environmental issues, like the impact of energy
usage on our world.”
– “Innovation is going to be the compass by which this company
sets its direction.”
30.
31.
32.
33.
34. WHY INNOVATE ???
OTHERWISE THEIR
SURVIVAL CHANCES
ARE SERIOUSLY
THREATENED
ORGANIZATION
PREPARE
THEMSELVES TO
INNOVATE ON A
CONTINUING BASIS
TURBULENT AND
RAPIDLY CHANGING
ECONOMY
35. GOALS OF INNOVATION
– Improving quality
– Creation of new markets
– Extension of the product range
– Reducing labor cost
– Improving production process
– Reducing materials
– Reducing environmental damage
– Replacement of products/services
– Reducing energy consumption
– Conformance to regulations
36. Importance of Innovation to Companies
20%
80%
Companies say it is important... ...But Few Feel Good at it
Find innovation
unimportant
Find innovation
important to their
business
4%
96%
Good at innovation
Think they are bad at
innovation
37. Process of Innovation
– a) Idea generation (Making)
– b) idea screening (test )
– c) feasibility (Practically)
– d) implementation (Completion)
– e) commercialization
38.
39.
40. • The process of innovation involves search & selection,
exploration & synthesis, cycles of divergent thinking &
convergence.
Innovation process needs support at three levels.
• At the macro level i.e. National Level, Innovation in
a nation directly depends upon national government’s
policies and support.
41. At the next level i.e. Enterprise Level, Innovation in enterprises
depends upon top management’s support and commitment. It is the
top management which sets the direction and environment for the
innovation in an organization.
• Lastly at the bottom level ie. Individual Level, Organizations
should create mutifunctional teams and encourage individuals
involved in the innovation process. Innovation largely depends upon
actions and motivation of multifunctional teams and individuals
involved in the innovation process.
• Innovation is largely responsibility of enterprise
42. CHARACTERISTICS OF INNOVATION
– There is an object or target which is being changed.
– It can be a product, a process, an individual’s lifestyle, an
organization's strategy, a society culture.
– Innovation vary in extent or magnitude i.e. degree to
which one deviates from the past.
– It is closely related to problem solving since generation &
implementation of ideas for change never transpire without
difficulty.
– A final characteristic is the impact of the change, the
significance or range of its effects.
43. Drivers for innovation:
– Financial pressures to reduce costs, increase efficiency, do
more with less, etc
– Increased competition
– Value migration
– Stricter regulation
– Industry and community needs for sustainable development
– Increased demend for accountability
– Demographic, social and maket changes
– Rising customer expectations regarding service and quality
– Changing economy
– Greater availability of potentially useful technologies
coupled with a need to exceed the competition in these
44. Sources of new ideas:
Suppliers
Employees
Management
Distribution
Channels
Government
Regulations
Maverick
Competitors
Customers
Technology
Economy
Rapidly
Changing
Environment
45. Innovation within the organization:
It depends upon
– Organizational Motivation – the basic orientation of the
organization toward innovation; shared vision; providing
rewards and recognition; lack of internal politics, and lack of
overemphasis on the status quo.
– Resources – everything the organization has available to
aid in the area targeted for innovation, including time,
funding, information and materials
– Management Practices – allowing freedom and autonomy
in the practice of work; providing challenge; specifying clear
strategic goals and forming work teams comprised of
individuals with diverse skills and perspectives
46. Types of innovation:
In business and economics, innovation is often divided into five types:
1. Product innovation, which involves the introduction of a new good
or service that is substantially improved. This might include
improvements in functional characteristics, technical abilities, ease of
use, or any other dimension .
2. Process innovation involves the implementation of a new or
significantly improved production or delivery method.
3. Marketing innovation is the development of new marketing
methods with improvement in product design or packaging, product
promotion or pricing.
4. Organizational innovation (also referred to as social innovation)
involves the creation of new organizations, business practices, ways
of running organizations or new organizational behavior.
5. Business Model innovation involves changing the way business is
done in terms of capturing value
47. A Suggested Innovation Framework
Problem
and/or
Opportunity
•Do not be afraid to fail
•Take risks
•Move your idea forward
Just Do It
• Seek novelty in design
• Diversify
• Stop looking for the right answer; look for many right answers
Seek Novelty in
Design
• Define clearly your goals and objectivesSet Goals and Objectives
• Challenge all assumptions
• Seek opportunities to innovate
Identify Problems and/or
Opportunities
• Open your mind
• Mental Floss
• Discover your creative rhythm
• Health Makes Wealth
Seek Opportunities
• Become an expert in a field you
love
• Become passionate about your
field
Find what you love to do
49. –Incremental Innovation
– Incremental Innovation is the most common form of innovation. It
utilizes your existing technology and increases value to the
customer (features, design changes, etc.) within your existing
market. Almost all companies engage in incremental innovation
in one form or another.
– Examples include adding new features to existing products or
services or even removing features (value through
simplification). Even small updates to user experience can add
value, for example below is an older version of Constant Contact’s
email schedule page:
50. Disruptive Innovation
– Disruptive innovation, also known as stealth innovation,
involves applying new technology or processes to your
company’s current market. This newer technology is often
more expensive It is only after a few iterations that the newer
tech surpasses the old and disrupts all existing companies.
– There are quite a few examples of disruptive innovation, one
of the more prominent being Apple’s iPhone disruption of the
mobile phone market. Prior to the iPhone, most popular
phones relied on buttons, keypads or scroll wheels for user
input.
51. Architectural Innovation
– Architectural innovation is simply taking the lessons, skills
and overall technology and applying them within a different
market. This innovation is amazing at increasing new
customers as long as the new market is receptive. Most of the
time, the risk involved in architectural innovation is low due
to the reliance and reintroduction of proven technology.
52. Radical innovation
– Radical innovation is what we think of mostly when
considering innovation. It gives birth to new industries
(or swallows existing ones) and involves creating
revolutionary technology. The airplane, for example,
was not the first mode of transportation, but it is
revolutionary as it allowed commercialized air travel to
develop and prosper.
53.
54.
55.
56.
57. Innovation in Pharmacy
– Pharmacy practice not very innovative
– – so far
– Most changes are incremental
– Many changes simply imitate competitors
– Thus, pharmacies appear very similar to customers
58. Examples of innovation in
pharmaceutical and medical
science:
Nurses can now find veins more easily before taking blood or
injecting medications with AccuVein, while residents can now
describe an eye condition to a physician using EyeDecide.
Patients can refill prescriptions with smartphone and tablet apps, text
messages and secure email. Pharmacists can help patients improve
their adherence to taking their medications by monitoring automated
refill histories.
Patient medical history, profiles, drug benefits and interactions are
available online to both patients and pharmacists in many locations.
Pharmacists can check for drug interactions and advise both doctors
and patients on medication reconciliation and synchronization.
59. – Centralized pill dispensing automation is replacing manual
dispensing onsite. The use of robotic dispensing systems and tablet
counters improves accuracy and frees up pharmacist and staff time for
patient questions and consultation.
– Cloud-based inventory management systems enable pharmacies to
share information across several locations, automatically re-order
stock, and review past transactions.
– Prescription drug monitoring programs (PDMPs) and electronic
prescribing of controlled substances (EPCS) are helping to fight
opioid abuse.
– Innovation in vaccination i.e new and modified forms are being
devolped and methods os administration are being innovated.
60. – Inovation in surgical procedures e.g use of laparoscopic gall
bladder surgery instead of open surgery
– Innovation in packaging i.e modified packaging including temper
resistance, child resistance containers etc
– Inovation in devices e.g devolpment of novapen for insulin
administration in relation to conventional syringe.
– Precision medicine
– mHealth sensors
– Nanotechnology
– Artificial intelligence i.e use of artificial intelligence in research
such as literature review of enormous amount of data can be done
easily by usin AI.