This presentation was given by Ziya Boyacigiller, a leading angel investor and mentor in Turkey, about identifying opportunities for new ventures. It discusses two main rules for entrepreneurial success: 1) Selecting industries that are favorable for new firms, such as those with growing demand, new technologies, or changing regulations. 2) Identifying valuable opportunities from changes in an industry, including new technologies, political/regulatory changes, social/demographic shifts, or changes in industry structure. While great ideas are important, success ultimately depends more on the ability to execute an idea through expertise, networks, motivation and perseverance.
This document discusses incorporating patent information into the front end of corporate innovation processes to improve return on investment. It argues that patents are critical calibration steps that can reveal whether a company can own the results of innovation efforts and have freedom to operate without litigation risk. The document provides a case study of a company that used patent analysis to avoid investing over $50 million in a project for biodegradable food packaging that would likely have faced blocking patents and inability to own the innovation. It acknowledges barriers to incorporating patents but argues incentives must be aligned between legal, R&D, and business teams to better integrate patent data into innovation decision making.
This document provides an overview of the innovation process from idea to commercialization. It discusses idea generation techniques, developing prototypes, intellectual property protection, and building a business model. The business model canvas is introduced as a tool to sketch out key aspects of a business like customer segments, value propositions, revenue streams, and costs. Customer development is emphasized as critical, with the quote that anything not saleable is not worth inventing. References to further resources on business models and innovation management are also provided.
Strategic Innovation: Coming to an Industry Near YouBrian Christian
The document discusses strategic innovation for industries. It defines strategic innovation as new offerings that stretch a company's risk levels but do not break the company. The document urges readers to care about strategic innovation because many industries are in flux, making them ripe for disruption, and corporate turnover is accelerating as companies fail to innovate strategically. Finally, it provides guidance on how to achieve strategic innovation through clearly defining starting and end points, developing design principles, and designing a discovery process.
The document discusses managing innovation in Jordanian industry. It defines different types of innovation, from Innovation 1.0 which focuses on developing new products and selling them, to Innovation 2.0 which involves getting customer feedback to improve business models, to Innovation 3.0 which emphasizes collaboration both locally and globally to develop and refine ideas. The document argues that innovation can be managed by creating the right conditions to support it, such as investing in innovation and having regular innovative results, rather than trying to control the process. Barriers to innovation in Jordanian industry include problems developing new business models and convincing stakeholders of new ideas.
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
Research linkage to_innovation_and_entrepreneurship_tsTarek Salah
The document discusses innovation and entrepreneurship. It introduces the Technology Innovation and Entrepreneurship Center, explaining the difference between invention and innovation. It defines entrepreneurs and provides examples of different types. It also presents a case study on Osborne Computer Company, which grew rapidly but then declared bankruptcy within 6 months due to lagging in R&D and delays in capital formation.
Open innovation presentation austech 2013Frank Wyatt
Open source innovation is a paradigm shift that involves sharing ideas and intellectual property externally rather than keeping them internal. It allows companies to source ideas from outside their organizations. The document discusses why open source innovation is increasingly popular for business model innovation and provides two case studies as examples. The mountain bike industry benefited from open collaboration with customers to develop new product features. Cadbury set up an open innovation team that established external partnerships and sourced over 50% of research projects from public organizations.
Zero-to-One - Building a Marketing Plan for Your Small BusinessAnalytive
Are you trying to figure out how to grow your small business? In this talk, Tyler Brooks from Analytive breaks down how to put together a strategy for your business that gets you leads.
This document discusses incorporating patent information into the front end of corporate innovation processes to improve return on investment. It argues that patents are critical calibration steps that can reveal whether a company can own the results of innovation efforts and have freedom to operate without litigation risk. The document provides a case study of a company that used patent analysis to avoid investing over $50 million in a project for biodegradable food packaging that would likely have faced blocking patents and inability to own the innovation. It acknowledges barriers to incorporating patents but argues incentives must be aligned between legal, R&D, and business teams to better integrate patent data into innovation decision making.
This document provides an overview of the innovation process from idea to commercialization. It discusses idea generation techniques, developing prototypes, intellectual property protection, and building a business model. The business model canvas is introduced as a tool to sketch out key aspects of a business like customer segments, value propositions, revenue streams, and costs. Customer development is emphasized as critical, with the quote that anything not saleable is not worth inventing. References to further resources on business models and innovation management are also provided.
Strategic Innovation: Coming to an Industry Near YouBrian Christian
The document discusses strategic innovation for industries. It defines strategic innovation as new offerings that stretch a company's risk levels but do not break the company. The document urges readers to care about strategic innovation because many industries are in flux, making them ripe for disruption, and corporate turnover is accelerating as companies fail to innovate strategically. Finally, it provides guidance on how to achieve strategic innovation through clearly defining starting and end points, developing design principles, and designing a discovery process.
The document discusses managing innovation in Jordanian industry. It defines different types of innovation, from Innovation 1.0 which focuses on developing new products and selling them, to Innovation 2.0 which involves getting customer feedback to improve business models, to Innovation 3.0 which emphasizes collaboration both locally and globally to develop and refine ideas. The document argues that innovation can be managed by creating the right conditions to support it, such as investing in innovation and having regular innovative results, rather than trying to control the process. Barriers to innovation in Jordanian industry include problems developing new business models and convincing stakeholders of new ideas.
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
Research linkage to_innovation_and_entrepreneurship_tsTarek Salah
The document discusses innovation and entrepreneurship. It introduces the Technology Innovation and Entrepreneurship Center, explaining the difference between invention and innovation. It defines entrepreneurs and provides examples of different types. It also presents a case study on Osborne Computer Company, which grew rapidly but then declared bankruptcy within 6 months due to lagging in R&D and delays in capital formation.
Open innovation presentation austech 2013Frank Wyatt
Open source innovation is a paradigm shift that involves sharing ideas and intellectual property externally rather than keeping them internal. It allows companies to source ideas from outside their organizations. The document discusses why open source innovation is increasingly popular for business model innovation and provides two case studies as examples. The mountain bike industry benefited from open collaboration with customers to develop new product features. Cadbury set up an open innovation team that established external partnerships and sourced over 50% of research projects from public organizations.
Zero-to-One - Building a Marketing Plan for Your Small BusinessAnalytive
Are you trying to figure out how to grow your small business? In this talk, Tyler Brooks from Analytive breaks down how to put together a strategy for your business that gets you leads.
This presentation discusses innovation models and disruptive technologies. It was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey. The presentation covers Resource, Process, and Values theory for understanding firm strengths and weaknesses. It also discusses Clayton Christensen's theories of sustaining versus disruptive innovation. Disruptive innovations target new markets or the low-end of existing markets with lower-priced, simpler products. Established firms often overlook disruptive technologies as they focus on their major customers. The presentation provides examples like personal computers and cell phones.
This document summarizes key concepts from a presentation by Ziya Boyacigiller on strategy and competition. It discusses Porter's five forces model for analyzing industry competition and profitability. The five competitive forces are: rivalry among existing competitors, threat of substitutes, buyer power, supplier power, and threat of new entry. The document provides examples and checklists for evaluating the level of each competitive force. It emphasizes the importance of selecting industries with attractive competitive dynamics and positioning a company differently from rivals to achieve sustainable competitive advantage.
This presentation discusses vision, mission, and opportunities for entrepreneurship. It was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey.
The presentation covers how to develop a compelling vision by identifying drivers of change, analyzing their effects, and deciding where to position your company. It also discusses how to develop a mission statement that conveys the benefit provided and capabilities used.
Maxim Integrated is presented as a case study of a company that successfully engineered its vision. In 1983, Maxim predicted the growth of digital technology and envisioned capitalizing on the continued need for analog components. This vision guided Maxim's strategy and capabilities, allowing it to become a $1B company by 2000
This presentation discusses how to cross the "chasm" from early adopters to the mainstream market. It recommends defining a niche "beachhead" market and developing evidence to convince both visionary customers and pragmatic customers. A key part of crossing the chasm is developing the "whole product" by ensuring all necessary components, services, and support are in place to fulfill the compelling reason to buy for customers. Positioning, differentiation, and establishing a monopoly on meeting customer needs in the target market are also emphasized as important factors for crossing the chasm.
This presentation discusses the difference between a business idea and a business concept. A business idea, such as "I want to get into internet security", is vague and does not provide important details. A business concept tells a clear story by addressing key questions: who the customers are, what value is being provided to them, how that value will be delivered, and how customers will be reached. Telling a business story in this way helps ensure the idea is clearly understood and the cause-and-effect relationships between the various elements are apparent.
This presentation discusses profit models and was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey. It outlines 22 different profit models, including customer solutions, product pyramids, installed base, brand, and low cost business models. Examples are provided for each model to illustrate how companies have designed their business to target profit growth rather than just unit volume growth. The presentation encourages businesses to shift their focus to identifying more valuable opportunities and strategic control points in the value chain.
This document summarizes a presentation by Ziya Boyacigiller on blue ocean strategy and gap analysis. It discusses how some companies achieve sustained growth through strategic moves that open new market space rather than competing based on existing industry factors. It introduces the concepts of red and blue oceans, and analyzing alternatives and non-customers to identify opportunities. Key frameworks discussed include the strategy canvas, four actions framework, and visualizing strategy in four steps to develop a "blue ocean" strategy focused on creating value for buyers rather than competing.
This document discusses product development and how to define and develop successful products. It provides the following key points:
1. Most product development attempts fail, either during development or after reaching the market. Failures are often predictable and avoidable.
2. To accurately develop products that connect with customers, companies must define market segments based on the circumstances under which customers make purchasing decisions.
3. Developing a "whole product" that fully meets customer needs and jobs-to-be-done is key to crossing the chasm from early adopters to the mainstream market. Companies must focus resources on dominating niche markets through their whole product before expanding.
This document discusses entrepreneurship in Turkey according to Ziya G. Boyacigiller, a leading angel investor and mentor to entrepreneurs in Turkey. It provides an overview of common beliefs that entrepreneurship won't work in Turkey due to challenges like lack of investment, intellectual property issues, and corruption. However, it notes several successful Turkish companies and discusses factors changing in Turkey's environment like EU reforms that are encouraging entrepreneurship. The document is based on a presentation by Boyacigiller on his views of entrepreneurship in Turkey.
New3 circumstance based segmentation 2007 06-29 ver 3Ziya-B
This document summarizes key points from a presentation by Ziya Boyacigiller on circumstance-based segmentation. It discusses how most new products fail because companies define segments based on customer demographics rather than the circumstances or "jobs to be done" when customers make purchases. Circumstance-based segmentation involves understanding the alternatives, pains, and functional/emotional needs customers have when they encounter different circumstances. Defining segments this way allows companies to create products that truly meet customer needs and pain points.
Entrepreneurship in silicon valley vs in turkey, ges, march 2011 Ziya-B
This document is a presentation by Ziya Boyacigiller comparing entrepreneurship in Silicon Valley and Turkey. It discusses how some Turkish startups have succeeded by adopting Silicon Valley business practices and structures. It also outlines some of the challenges of entrepreneurship in Turkey, such as lack of access to venture capital and equity funding, high tax burdens, and insufficient government support. However, it notes factors that could improve entrepreneurship in Turkey, like economic reforms, encouraging startups through programs like Technoparks, and the potential of Turkish and other markets.
This document provides an overview of a lecture on innovation and change in the consumer goods industry. It will examine what innovation is, different types of innovation, challenges to innovation, and approaches to managing change. The learning outcomes are to understand models of innovation, discuss challenges and evaluate models for creating organizational change. The lecture will look at innovation in firms, disruptive innovation, and examples of innovation approaches used in Western firms compared to emerging markets.
Lecture 8 industry studies student (1)moduledesign
This document provides an overview of a lecture on innovation and change in the consumer goods industry. It begins by defining innovation and discussing the different types, including product and process innovation. It also covers challenges to innovation implementation and different approaches to managing organizational change. The learning outcomes are to understand models of innovation, challenges to innovation, and how to evaluate change models. The document then explores topics like disruptive innovation, innovation in Western firms versus emerging markets, and dealing with innovation failures.
This document discusses a presentation by Ziya G. Boyacigiller on effectual vs causal entrepreneurship. The presentation compares effectual and causal approaches to entrepreneurship, noting that effectual entrepreneurship involves an emergent process of building a business idea incrementally based on available means, rather than having a pre-determined goal or plan. Real-life entrepreneurs are said to use effectuation by building their ventures as they progress, similar to building a Lego sculpture, rather than having a fully pre-planned business like completing a jigsaw puzzle. The document encourages an effectual mindset of focusing on what is controllable rather than attempting to precisely predict an unknowable future.
Disruptive innovation, Kaust, june 2013,Ziya BoyacigillerZiya-B
This document summarizes a presentation by Ziya Boyacigiller on disruptive innovation. Boyacigiller was a leading angel investor in Turkey who mentored many young entrepreneurs. The presentation discusses how incumbent companies allocate resources in a way that allows disruptive innovations to emerge, provides litmus tests for identifying disruptive ideas including their ability to create new markets or appeal to low-end customers, and stresses that diversity and a globalized mindset can breed creativity. The presentation contains several slides with quotes and examples about disruptive innovation in industries such as personal computers, cell phones, and automobiles.
This document provides an overview of innovation including definitions, types, and degrees of innovation. It defines innovation as the profitable implementation of ideas. It discusses the importance of innovation for economic growth, productivity, and survival. The types of innovation include products, processes, services, business models, value, markets, and disruptive innovation. The degrees include incremental, semi-radical, and radical innovation which require different management approaches.
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
(Citation Kotler, P. & Keller, K. (2012). Marketing Management, 1.docxkatherncarlyle
(Citation: Kotler, P. & Keller, K. (2012). Marketing Management, 14th Edition. Retrieved from Vital Source.
Chapter 20 Introducing New Market Offerings
With a unique approach to video game playing, Nintendo’s highly interactive and engaging Wii became a huge hit.
In This Chapter, We Will Address the Following Questions
1.
What challenges does a company face in developing new products and services?
2.
What organizational structures and processes do managers use to oversee new-product development?
3.
What are the main stages in developing new products and services?
4.
What is the best way to manage the new-product development process?
5.
What factors affect the rate of diffusion and consumer adoption of newly launched products and services?
New-product development shapes the company’s future. Improved or replacement products and services can maintain or build sales; new-to-the-world products and services can transform industries and companies and change lives. But the low success rate of new products and services points to the many challenges they face. Companies are doing more than just talking about innovation. They are challenging industry norms and past conventions to develop new products and services that delight and engage consumers. Nintendo’s Wii is a prime example.1
Although Nintendo helped create the $30 billion global video game business, its U.S. sales had shrunk in half by 2006. CEO Satoru Iwata and game designer Shigeru Miyamoto decided to address two troubling trends in the industry: As players got older and acquired families and careers, they played less often, and as video game consoles got more powerful, they grew more expensive. Nintendo’s solution? Redesign the game controllers and the way they interacted with the consoles. Bucking industry trends, Nintendo chose a cheaper, lower-power chip with fewer graphics capabilities, creating a totally different style of play based on physical gestures. A sleek white design and a new motion-sensitive wireless controller made it much more engaging and interactive. Nintendo’s decision to embrace outside software developers meant a number of titles quickly became available. Thus Wii was born. Its collaborative nature made it a hit with nongamers drawn by its capabilities and hard-core players seeking to master its many intriguing games.
Marketers play a key role in new-product development by identifying and evaluating ideas and working with R&D and other areas in every stage of development. This chapter provides a detailed analysis of the new-product development process. Much of the discussion is equally relevant to new products, services, or business models. Chapter 21 considers how marketers can tap into global markets as another source of long-term growth.
New-Product Options
There are a variety of types of new products and ways to create them.2
Make or Buy
A company can add new products through acquisition or development. When acquiring, the company can buy other companies, patent ...
Marketing Myopia by Theodore Levitt argues that companies focus too much on their products instead of understanding customers' needs. He asserts there are no growth industries, only growth opportunities. When companies define themselves by their products rather than by the customer needs they meet, they risk becoming obsolete. Levitt provides examples of once dominant industries like railroads and movies that declined due to a failure to adapt to changing customer demands. He encourages companies to take a broader view of their industry and role in satisfying customer needs to sustain long term growth.
Entrepreneurship Mishaps
For an entrepreneurial idea to remain relevant in society, and maintain market value, constant innovation to improve and enhance the idea is a must. Innovation involves adding some new features to the already existing business model. Change is inevitable, therefore, entrepreneurs have to adjust to the changes that occur in markets, and plan in anticipation of changes to come in the near future. Failure to adjust to the changes in the markets could be detrimental to the success of any brand or entrepreneurial venture. Many business organizations have crashed out of the market due to their failure to constantly innovate and add new features to match the new market demands. Also, technology has advanced so much in the current world. Any organization that forfeits an opportunity to embrace technology will probably fade out of business in the near future. Some of the great entrepreneurial giants that have failed due to lack of innovation include; Polaroid, Blackberry, Nokia, Blockbusters, and Kodak.
Kodak, a giant in the photography industry, and was established in the 1880s. Kodak was the leading company in photography for many decades with its sales records surpassing ten billion dollars in 1981. However, the name has faded away from the industry with the company filing for bankruptcy in 2012. The failure of this giant can be attributed to a lack of innovation that matches the digital world demands. Despite Kodak’s management being aware of the need to embrace digital photography, they failed to capitalize on the opportunity. Fuji, a Japanese firm, introduced a colored camera which was cheaper than Kodak's cameras. Fuji also incorporated digital features in its devices hence attracting more customers. Kodak’s sales started dropping gradually as the market shifted from analog to digital. Due to the slow initiative to embrace digital photography Kodak finally went out of business, (Yuzawa, 2018).
Blockbuster was a leading movie and film store, a giant in the entertainment industry. The company had successfully survived the shift from VHS to DVD. That was one good strategy that kept the company ahead in the film entertainment industry. More innovations such as the introduction of internet services provided an avenue through which film entertainment could be scaled up to a notch higher. Blockbuster was, however, not much embracing of internet innovation. The company turned down a partnership deal with Netflix, in which Blockbusters would promote Netflix in its stores and Netflix would air Blockbuster’s content on the internet platforms, (Ciccone, 2017). Currently, Netflix is the leading film entertainment organization on Livestream media via the internet while Blockbusters is history.
Both Kodak and Blockbusters were the leading organizations in the film photography and entertainment industries respectively. The two giants failed to capitalize on the opportunity available to advance their market leadership. Kodak was not s ...
This presentation discusses innovation models and disruptive technologies. It was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey. The presentation covers Resource, Process, and Values theory for understanding firm strengths and weaknesses. It also discusses Clayton Christensen's theories of sustaining versus disruptive innovation. Disruptive innovations target new markets or the low-end of existing markets with lower-priced, simpler products. Established firms often overlook disruptive technologies as they focus on their major customers. The presentation provides examples like personal computers and cell phones.
This document summarizes key concepts from a presentation by Ziya Boyacigiller on strategy and competition. It discusses Porter's five forces model for analyzing industry competition and profitability. The five competitive forces are: rivalry among existing competitors, threat of substitutes, buyer power, supplier power, and threat of new entry. The document provides examples and checklists for evaluating the level of each competitive force. It emphasizes the importance of selecting industries with attractive competitive dynamics and positioning a company differently from rivals to achieve sustainable competitive advantage.
This presentation discusses vision, mission, and opportunities for entrepreneurship. It was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey.
The presentation covers how to develop a compelling vision by identifying drivers of change, analyzing their effects, and deciding where to position your company. It also discusses how to develop a mission statement that conveys the benefit provided and capabilities used.
Maxim Integrated is presented as a case study of a company that successfully engineered its vision. In 1983, Maxim predicted the growth of digital technology and envisioned capitalizing on the continued need for analog components. This vision guided Maxim's strategy and capabilities, allowing it to become a $1B company by 2000
This presentation discusses how to cross the "chasm" from early adopters to the mainstream market. It recommends defining a niche "beachhead" market and developing evidence to convince both visionary customers and pragmatic customers. A key part of crossing the chasm is developing the "whole product" by ensuring all necessary components, services, and support are in place to fulfill the compelling reason to buy for customers. Positioning, differentiation, and establishing a monopoly on meeting customer needs in the target market are also emphasized as important factors for crossing the chasm.
This presentation discusses the difference between a business idea and a business concept. A business idea, such as "I want to get into internet security", is vague and does not provide important details. A business concept tells a clear story by addressing key questions: who the customers are, what value is being provided to them, how that value will be delivered, and how customers will be reached. Telling a business story in this way helps ensure the idea is clearly understood and the cause-and-effect relationships between the various elements are apparent.
This presentation discusses profit models and was created by Ziya Boyacigiller, a leading angel investor and mentor in Turkey. It outlines 22 different profit models, including customer solutions, product pyramids, installed base, brand, and low cost business models. Examples are provided for each model to illustrate how companies have designed their business to target profit growth rather than just unit volume growth. The presentation encourages businesses to shift their focus to identifying more valuable opportunities and strategic control points in the value chain.
This document summarizes a presentation by Ziya Boyacigiller on blue ocean strategy and gap analysis. It discusses how some companies achieve sustained growth through strategic moves that open new market space rather than competing based on existing industry factors. It introduces the concepts of red and blue oceans, and analyzing alternatives and non-customers to identify opportunities. Key frameworks discussed include the strategy canvas, four actions framework, and visualizing strategy in four steps to develop a "blue ocean" strategy focused on creating value for buyers rather than competing.
This document discusses product development and how to define and develop successful products. It provides the following key points:
1. Most product development attempts fail, either during development or after reaching the market. Failures are often predictable and avoidable.
2. To accurately develop products that connect with customers, companies must define market segments based on the circumstances under which customers make purchasing decisions.
3. Developing a "whole product" that fully meets customer needs and jobs-to-be-done is key to crossing the chasm from early adopters to the mainstream market. Companies must focus resources on dominating niche markets through their whole product before expanding.
This document discusses entrepreneurship in Turkey according to Ziya G. Boyacigiller, a leading angel investor and mentor to entrepreneurs in Turkey. It provides an overview of common beliefs that entrepreneurship won't work in Turkey due to challenges like lack of investment, intellectual property issues, and corruption. However, it notes several successful Turkish companies and discusses factors changing in Turkey's environment like EU reforms that are encouraging entrepreneurship. The document is based on a presentation by Boyacigiller on his views of entrepreneurship in Turkey.
New3 circumstance based segmentation 2007 06-29 ver 3Ziya-B
This document summarizes key points from a presentation by Ziya Boyacigiller on circumstance-based segmentation. It discusses how most new products fail because companies define segments based on customer demographics rather than the circumstances or "jobs to be done" when customers make purchases. Circumstance-based segmentation involves understanding the alternatives, pains, and functional/emotional needs customers have when they encounter different circumstances. Defining segments this way allows companies to create products that truly meet customer needs and pain points.
Entrepreneurship in silicon valley vs in turkey, ges, march 2011 Ziya-B
This document is a presentation by Ziya Boyacigiller comparing entrepreneurship in Silicon Valley and Turkey. It discusses how some Turkish startups have succeeded by adopting Silicon Valley business practices and structures. It also outlines some of the challenges of entrepreneurship in Turkey, such as lack of access to venture capital and equity funding, high tax burdens, and insufficient government support. However, it notes factors that could improve entrepreneurship in Turkey, like economic reforms, encouraging startups through programs like Technoparks, and the potential of Turkish and other markets.
This document provides an overview of a lecture on innovation and change in the consumer goods industry. It will examine what innovation is, different types of innovation, challenges to innovation, and approaches to managing change. The learning outcomes are to understand models of innovation, discuss challenges and evaluate models for creating organizational change. The lecture will look at innovation in firms, disruptive innovation, and examples of innovation approaches used in Western firms compared to emerging markets.
Lecture 8 industry studies student (1)moduledesign
This document provides an overview of a lecture on innovation and change in the consumer goods industry. It begins by defining innovation and discussing the different types, including product and process innovation. It also covers challenges to innovation implementation and different approaches to managing organizational change. The learning outcomes are to understand models of innovation, challenges to innovation, and how to evaluate change models. The document then explores topics like disruptive innovation, innovation in Western firms versus emerging markets, and dealing with innovation failures.
This document discusses a presentation by Ziya G. Boyacigiller on effectual vs causal entrepreneurship. The presentation compares effectual and causal approaches to entrepreneurship, noting that effectual entrepreneurship involves an emergent process of building a business idea incrementally based on available means, rather than having a pre-determined goal or plan. Real-life entrepreneurs are said to use effectuation by building their ventures as they progress, similar to building a Lego sculpture, rather than having a fully pre-planned business like completing a jigsaw puzzle. The document encourages an effectual mindset of focusing on what is controllable rather than attempting to precisely predict an unknowable future.
Disruptive innovation, Kaust, june 2013,Ziya BoyacigillerZiya-B
This document summarizes a presentation by Ziya Boyacigiller on disruptive innovation. Boyacigiller was a leading angel investor in Turkey who mentored many young entrepreneurs. The presentation discusses how incumbent companies allocate resources in a way that allows disruptive innovations to emerge, provides litmus tests for identifying disruptive ideas including their ability to create new markets or appeal to low-end customers, and stresses that diversity and a globalized mindset can breed creativity. The presentation contains several slides with quotes and examples about disruptive innovation in industries such as personal computers, cell phones, and automobiles.
This document provides an overview of innovation including definitions, types, and degrees of innovation. It defines innovation as the profitable implementation of ideas. It discusses the importance of innovation for economic growth, productivity, and survival. The types of innovation include products, processes, services, business models, value, markets, and disruptive innovation. The degrees include incremental, semi-radical, and radical innovation which require different management approaches.
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
(Citation Kotler, P. & Keller, K. (2012). Marketing Management, 1.docxkatherncarlyle
(Citation: Kotler, P. & Keller, K. (2012). Marketing Management, 14th Edition. Retrieved from Vital Source.
Chapter 20 Introducing New Market Offerings
With a unique approach to video game playing, Nintendo’s highly interactive and engaging Wii became a huge hit.
In This Chapter, We Will Address the Following Questions
1.
What challenges does a company face in developing new products and services?
2.
What organizational structures and processes do managers use to oversee new-product development?
3.
What are the main stages in developing new products and services?
4.
What is the best way to manage the new-product development process?
5.
What factors affect the rate of diffusion and consumer adoption of newly launched products and services?
New-product development shapes the company’s future. Improved or replacement products and services can maintain or build sales; new-to-the-world products and services can transform industries and companies and change lives. But the low success rate of new products and services points to the many challenges they face. Companies are doing more than just talking about innovation. They are challenging industry norms and past conventions to develop new products and services that delight and engage consumers. Nintendo’s Wii is a prime example.1
Although Nintendo helped create the $30 billion global video game business, its U.S. sales had shrunk in half by 2006. CEO Satoru Iwata and game designer Shigeru Miyamoto decided to address two troubling trends in the industry: As players got older and acquired families and careers, they played less often, and as video game consoles got more powerful, they grew more expensive. Nintendo’s solution? Redesign the game controllers and the way they interacted with the consoles. Bucking industry trends, Nintendo chose a cheaper, lower-power chip with fewer graphics capabilities, creating a totally different style of play based on physical gestures. A sleek white design and a new motion-sensitive wireless controller made it much more engaging and interactive. Nintendo’s decision to embrace outside software developers meant a number of titles quickly became available. Thus Wii was born. Its collaborative nature made it a hit with nongamers drawn by its capabilities and hard-core players seeking to master its many intriguing games.
Marketers play a key role in new-product development by identifying and evaluating ideas and working with R&D and other areas in every stage of development. This chapter provides a detailed analysis of the new-product development process. Much of the discussion is equally relevant to new products, services, or business models. Chapter 21 considers how marketers can tap into global markets as another source of long-term growth.
New-Product Options
There are a variety of types of new products and ways to create them.2
Make or Buy
A company can add new products through acquisition or development. When acquiring, the company can buy other companies, patent ...
Marketing Myopia by Theodore Levitt argues that companies focus too much on their products instead of understanding customers' needs. He asserts there are no growth industries, only growth opportunities. When companies define themselves by their products rather than by the customer needs they meet, they risk becoming obsolete. Levitt provides examples of once dominant industries like railroads and movies that declined due to a failure to adapt to changing customer demands. He encourages companies to take a broader view of their industry and role in satisfying customer needs to sustain long term growth.
Entrepreneurship Mishaps
For an entrepreneurial idea to remain relevant in society, and maintain market value, constant innovation to improve and enhance the idea is a must. Innovation involves adding some new features to the already existing business model. Change is inevitable, therefore, entrepreneurs have to adjust to the changes that occur in markets, and plan in anticipation of changes to come in the near future. Failure to adjust to the changes in the markets could be detrimental to the success of any brand or entrepreneurial venture. Many business organizations have crashed out of the market due to their failure to constantly innovate and add new features to match the new market demands. Also, technology has advanced so much in the current world. Any organization that forfeits an opportunity to embrace technology will probably fade out of business in the near future. Some of the great entrepreneurial giants that have failed due to lack of innovation include; Polaroid, Blackberry, Nokia, Blockbusters, and Kodak.
Kodak, a giant in the photography industry, and was established in the 1880s. Kodak was the leading company in photography for many decades with its sales records surpassing ten billion dollars in 1981. However, the name has faded away from the industry with the company filing for bankruptcy in 2012. The failure of this giant can be attributed to a lack of innovation that matches the digital world demands. Despite Kodak’s management being aware of the need to embrace digital photography, they failed to capitalize on the opportunity. Fuji, a Japanese firm, introduced a colored camera which was cheaper than Kodak's cameras. Fuji also incorporated digital features in its devices hence attracting more customers. Kodak’s sales started dropping gradually as the market shifted from analog to digital. Due to the slow initiative to embrace digital photography Kodak finally went out of business, (Yuzawa, 2018).
Blockbuster was a leading movie and film store, a giant in the entertainment industry. The company had successfully survived the shift from VHS to DVD. That was one good strategy that kept the company ahead in the film entertainment industry. More innovations such as the introduction of internet services provided an avenue through which film entertainment could be scaled up to a notch higher. Blockbuster was, however, not much embracing of internet innovation. The company turned down a partnership deal with Netflix, in which Blockbusters would promote Netflix in its stores and Netflix would air Blockbuster’s content on the internet platforms, (Ciccone, 2017). Currently, Netflix is the leading film entertainment organization on Livestream media via the internet while Blockbusters is history.
Both Kodak and Blockbusters were the leading organizations in the film photography and entertainment industries respectively. The two giants failed to capitalize on the opportunity available to advance their market leadership. Kodak was not s ...
1. Analyze analog businesses like other lemonade stands to understand revenue, costs, and profitability.
2. Identify Johnny's goals and hypotheses to test, such as whether people will buy lemonade.
3. Create a minimum viable business plan with estimates for startup costs, revenue, expenses and profit to buy a bicycle in a target time period.
New venture financing, 2003,Ziya BoyacigillerZiya-B
This presentation provides an overview of new venture financing and was originally created and presented by Ziya Boyacigiller, a leading angel investor in Turkey. The presentation covers topics such as the high-risk nature of new venture investing, venture capital fund structures and returns, factors for success like industry selection and team execution, and considerations for entrepreneurs seeking funding like valuation and term sheet negotiations. It aims to educate entrepreneurs on understanding venture capital and making good funding decisions.
This document contains Ziya Boyacigiller's presentation on developing a commitment to an organization's vision and mission. It provides guidance on crafting an effective vision statement, including that the vision should describe a desirable and feasible future state for the industry and organization, and define how the organization will create sustainable value. It also notes that the mission statement should explain how the organization will achieve its vision by delivering value to customers.
This document discusses the concept of a "paper tiger" and how to use paper tigers to develop products. A paper tiger refers to something that seems threatening but is actually harmless. The document recommends using an evidence-based approach to product development by testing prototypes first before full development. It suggests creating paper versions of marketing materials like brochures and ads for a product to get early customer feedback, which can then be used to inform further development before major resources are invested. The goal is to turn visions into reality first on paper to gather input and validate assumptions with customers before fully developing products.
New 13 strategy-maps bsc integrative-thinkingZiya-B
This document discusses the use of strategy maps and the balanced scorecard (BSC) to implement organizational vision and strategy. It provides an overview of how strategy maps can link strategic objectives and their drivers through cause-and-effect relationships. It also explains the four perspectives of the BSC - financial, customer, internal processes, and innovation/growth - and how goals and measures can be defined for each perspective. Examples are given of objectives, measures, and how to develop a strategy map and BSC for an organization.
This document summarizes notes from a presentation by Ziya Boyacigiller on sales. It begins with questioning traditional sales approaches and how they cause resistance from prospects. It then outlines a new "high probability selling" approach that focuses on finding mutual opportunities for customers and vendors rather than convincing customers to buy. This approach aims to start discussions with the most likely prospects in order to maximize sales. The presentation emphasizes establishing a clear value proposition and only pursuing interested prospects who want to learn more.
This document summarizes a presentation by Ziya Boyacigiller on estimating market potential. It discusses defining the total addressable market (TAM), served available market (SAM), share of market (SOM), and total addressable demand (TAD). The key points are:
- TAM is the complete potential market. SAM is the segment you initially sell to based on resources or product fit.
- TAD is the portion of SAM that matches your target customer definition. This filters SAM down to who can be reached.
- SOM is the portion of TAD you aim to achieve, commonly specified as a percentage over time like 25% in the first year.
-
Explore the key differences between silicone sponge rubber and foam rubber in this comprehensive presentation. Learn about their unique properties, manufacturing processes, and applications across various industries. Discover how each material performs in terms of temperature resistance, chemical resistance, and cost-effectiveness. Gain insights from real-world case studies and make informed decisions for your projects.
1. On Finding Fertile Ground
Ziya G. Boyacigiller
This presentation was created and given by Ziya
Boyacigiller who was leading Angel Investor and a loved
mentor to many young entrepreneurs in Turkey. We have
shared it on the web for everyone’s benefit. It is free to
use but please cite Ziya Boyacigiller as the source when
you use any part of this presentation. For more about
Ziya Boyacigiller’s contributions to the start-up Ecosystem
of Turkey, please go to www.ziyaboyacigiller.com
2. Finding Fertile Ground
Identifying Extraordinary
Opportunities for New Ventures
by Dr. Scott A. Shane
Ziya G. Boyacıgiller
Sabanci Universitesi
Yonetim Bilimleri Fakultesi
3. It does not take much strength
to do things, but it requires a
great deal of strength to decide
what to do.
Ziya G. Boyacigiller (c) 2005
EMBA 3
Elbert Hubbard
4. Ziya G. Boyacigiller (c) 2005
EMBA 4
Making of a successful
entrepreneur…
Q: What separates successful
entrepreneur from the masses that
start businesses?
A: The selection of the right
business concept to exploit a
valuable opportunity.
5. Ziya G. Boyacigiller (c) 2005
EMBA 5
Improve Odds of Success…
The number one predictor of new
business failure is the industry in
which the firm is founded (with retail
businesses and restaurants having
extremely high failure rates).
Q: What to do then?
7. Ziya G. Boyacigiller (c) 2005
EMBA 7
Entry & Exit Barriers
determine quality of returns (profit)
EXIT BARRIERSENTRYBARRIERS
8. Ziya G. Boyacigiller (c) 2005
EMBA 8
Technology & Success
Generally, entrepreneurs are more
successful if they start
technology businesses.
The professionals in the field,
venture-capitalists and serial
entrepreneurs, have a reason for
picking technology businesses to
work on…
9. Ziya G. Boyacigiller (c) 2005
EMBA 9
Technology
From Wikipedia
Technology is a broad concept that deals
with the usage and knowledge of tools and
crafts (processes), and how it affects the ability
to control and adapt to the environment.
…
Other species have also been observed to have
created and used technology, including non-
human primates, dolphins, and crows.
11. Ziya G. Boyacigiller (c) 2005
EMBA 11
What is Technology?
Technology is the useage of knowledgeknowledge in
ways that make it possible to
➦ create new products,
➦ exploit new markets,
➦ use new ways of organizing,
➦ incorporate new raw materials, or
➦ use new processes
to meet customer needs.
( “new” Significantly Differentiated innovation)
12. Ziya G. Boyacigiller (c) 2005
EMBA 12
Ask yourself:
1. Is there continuous change in the
market, industry?
• Change Problems Solutions Knowledge
1. Can we protect our knowledge?
2. Can we capture the value resulting from
our knowledge?
13. Ziya G. Boyacigiller (c) 2005
EMBA 13
Features of a Successful
Entrepreneur are…
Despite decades of effort to identify the special
features of successful entrepreneurs,
there really are NONE!
Academic research on entrepreneurship has shown
that the effect of business opportunities on the
performance of new ventures is so large that it
swamps the effect of entrepreneur’s
characteristics.
14. Ziya G. Boyacigiller (c) 2005
EMBA 14
First 2 Rules for
Entrepreneurial Success:
1. Select the right industry
2. Identify valuable
opportunities
15. Ziya G. Boyacigiller (c) 2005
EMBA 15
Rule 1:
Select the right industry
a) Knowledge conditions
b) Demand conditions
c) Industry Life Cycles
d) Industry Structure
16. Ziya G. Boyacigiller (c) 2005
EMBA 16
Rule 1: Select the right industry
(a) Knowledge conditions
Level of complexity of the production process
(aerospace/higly complex vs. paper-bag/nothing to think about)
New knowledge creation required for products and services
(%R&D spending required)
(pharmaceutical/R&D intensive vs. dry cleaning/little-to-no R&D)
Codification of knowledge
(steel-reinforced-concrete-building design/mostly on paper vs. analog-chip
design/mostly in the brain)
Where the innovation that supports new products and services
is made
(semiconductors [Intel/industry] vs. superconductors [MIT/universities])
Distribution of value added from {manufacturing & marketing} vs.
{product development & innovation}
(automobiles vs internet software)
17. Ziya G. Boyacigiller (c) 2005
EMBA 17
Stop! Don’t Do It!
1. Don’t start a business without
investigating how favorable the
industry is to new firms.
2. Don’t fight the odds. Don’t start a
business in an industry that is
unfavorable to start-ups.
18. Ziya G. Boyacigiller (c) 2005
EMBA 18
Rule 1: Select the right industry
(b) Demand conditions
Magnitude of customer demand for
products or services (“marginal cost”)
(major drugs vs minor drugs)
Rate of growth of demand
(new customers low response from incumbents)
Heterogeneity of that demand across
customer segments
(water vs. clothing)
(“niche segments” growth “under the radar”)
19. Ziya G. Boyacigiller (c) 2005
EMBA 19
Stop! Don’t Do It!
1. Don’t start a business in a small market;
you can just as easily start one in a
large market.
2. Don’t start a business in a slow growth
market, your competition will respond
fiercely.
3. Don’t start a business in an
unsegmented market; the incumbents
will kill your business.
20. Ziya G. Boyacigiller (c) 2005
EMBA 20
Rule 1: Select the right industry
(c) Industry Life Cycles
Early-on, competition is less no established
leader in market yet
Learning curve disadvantages don’t exist yet in
new markets
Standards don’t exist in new markets, gives a
chance to new businesses to compete
(MS Office vs all others…)
Early is bad, late is bad… Attracting customers
when there is double digit growth is easier.
22. Ziya G. Boyacigiller (c) 2005
EMBA 22
Stop! Don’t Do It!
1. Don’t wait until a business is
mature to enter it.
2. Don’t wait until after a dominant
design has emerged to start your
business.
23. Ziya G. Boyacigiller (c) 2005
EMBA 23
Rule 1: Select the right industry
(d) Industry Structure
Capital intensity vs labor/knowledge intensity
(steel vs. textile/game software)
Advertising intensity
(scale & time)
Concentration of industry
(pharmaceuticals vs. dry cleaning) (powerful incumbents,
collusion, market share from smaller competitors)
Average firm size
(small size means lower risk, economies of scale in purchasing),
24. Ziya G. Boyacigiller (c) 2005
EMBA 24
Stop! Don’t Do It!
1. Don’t start a business in a capital intensive
industry.
2. Don’t start a business in an advertising
intensive business.
3. Don’t start a business in a concentrated
industry.
4. Don’t start a business in an industry in which
the average sized firms are large.
25. Ziya G. Boyacigiller (c) 2005
EMBA 25
2. Identify valuable
opportunities
a) Changes in technology
b) Changes in political and regulatory
rules
c) Changes in social and demographic
factors
d) Changes in industry structure
26. Ziya G. Boyacigiller (c) 2005
EMBA 26
2.Identify valuable opportunities
(a) Changes in technology
Magnitude of new technology
(nanotechnology)
Generality of the change vs single-purpose
(laser)
Commercial viability of the change
(space shuttle)
Effect of new technology on industry dynamics–
changes how companies compete
(IP – VoIP, IPTV)
27. Ziya G. Boyacigiller (c) 2005
EMBA 27
2.Identify valuable opportunities
(b) Political and regulatory change
Productivity enhancing change
(deregulation of telecom)
Shifts value from one set of economic factors to another –
from consumers to manufacturers, non-productive change
(body-bags in cars)
Increases demand
(car-seats for babies)
Support subsidies and other resources result in reduced
costs and make products/services common
(technoparks)
28. Ziya G. Boyacigiller (c) 2005
EMBA 28
2.Identify valuable opportunities
(c) Social / demographic change
Alter peoples’ preferences and creating new
demand (markets)
(women in work-force take-out and frozen food)
Social trend
(deodorant)
Demographic trend
(population ages geriatric health care, or Istanbul now
is best city for young people)
Shift in perception or demand
(chicken with hormones, red-meat raises LDL cholesterol)
29. Ziya G. Boyacigiller (c) 2005
EMBA 29
2.Identify valuable opportunities
(d) Changes in industry structure
Firms die or merge
Firms split or diversify businesses
Firms shift focus
(hub-and-spoke operation point-to-point airlines like
Southwest)
30. Ziya G. Boyacigiller (c) 2005
EMBA 30
How to exploit new technology
These 4 changes can open up opportunities by
allowing older products and services to be:
i. produced with new production methods
(mini-mills for steel),
ii. using new raw materials
(plastics or ceramics replacing metals),
iii. organized in new ways
(Amazon, Dell),
iv. for sale in new markets
(shock freezing vegetables).
31. Ziya G. Boyacigiller (c) 2005
EMBA 31
Why is knowledge important?
Start-ups can minimize imitation by
keeping trade-secrets (knowledge), which
is done more easily when making use of
new raw materials,
new production methods,
new forms of organizing
to produce old products and services, and
by targeting new markets.
32. Ziya G. Boyacigiller (c) 2005
EMBA 32
Why did Bill Gates start
Microsoft?
Or, Steve Jobs start Apple?
Or, Husnu Ozyegin start
Finansbank?
33. Ziya G. Boyacigiller (c) 2005
EMBA 33
Why do some people but not others
identify a Valuable Opportunity:
1. Access to Information
(experts, social networks, customers)
2. Better Information Processing
(in digital watches-Swiss vs. Japanese, in operating systems-
Xerox vs. Apple)
i. Extrapolating from incomplete information
ii. Schemas (analogs/antilogs) from prior experience
iii. Seeing information as opportunity, not risk
iv.iv. CreativityCreativity (seeing what others don’t see)
34. Ziya G. Boyacigiller (c) 2005
EMBA 34
Idea (+ Execution)
I developed a rule over the years that if I have an
idea (no matter how creative it may be) I can
almost be sure that someone in the world has
also thought of it already.
Great ideas without the ability
to execute are useless.
Success comes as much from our ability to
execute an idea, as from the idea itself.
35. Ziya G. Boyacigiller (c) 2005
EMBA 35
Winning at Execution
Requires
Strong expertise
Strong network
Strong motivation
• discipline and patience
• will to succeed
• will “to find a way” when faced with
challenges