The document discusses the challenges of measuring innovation. It notes that while innovation fuels R&D efforts, correctly gauging its market reception can translate to billions in revenue but an incorrect measure can spell doom for organizations. It examines metrics like patents, spending, and market adoption, noting that creativity and delivering value to customers must both be emphasized. Innovation is an incremental process that can occur inside or outside companies.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
Managing Director Dr. Giordano Koch shows how to run successfull innovation labs and how to integrate them into a longterm innovation strategy for businesses.
How to Innovate...Strategically: What Innovation Approach Should You Use When?Kevin C. Cummins
There are four common approaches to innovation that companies utilize: Lean Startup, Design-Driven, Open Innovation and Crowdsourced Idea Management. In the "How to Innovate...Strategically" presentation, we examine how and when to use each of these methods, and which companies excel at each. We uncover the limitations and the challenges when implementing each method, and the top supporting tools for each approach. View Batterii's "How to Innovate...Strategically" presentation to learn more.
Managing Director Dr. Giordano Koch shows how to run successfull innovation labs and how to integrate them into a longterm innovation strategy for businesses.
Business Innovation Report by TrendsSpotting: Innovation Strategy, Performanc...Taly Weiss
The purpose of this review is to provide a deep understanding of innovation and its business potential. We will focus on innovation outcomes in terms of performance and present empirical findings linking innovation to business success. We introduce basic definitions of innovation, explore the most common forms of innovation (adding examples and case studies) and discuss disruptive innovation. We identify key innovation strategies developed and tested in academic and business research. We glance into rankings of the most innovative companies to learn on their performance and growth potential. Finally we will study how companies measure innovation and what parameters are critical for them to follow. At the end of the report, we have compiled an insightful “take away” and present extensive case study summarizing key innovation aspects in innovation implementation.
The 140 page PPT report is targeted at innovation stakeholders aiming to promote innovation efforts linked to business success & growth
Why innovation is important to business successFrank Reynold
Innovation is coming up with a new idea and turning it into an effective process, a new product or service. The implementation of creativity and innovation in business is likely to incorporate success and help you stand competitiveness in the market. Innovation can be referred to as something new or introduced differently and has impact on market or society.
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
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
Organizational Innovation Report by TrendsSpotting: Implementing innovation i...Taly Weiss
In this review we collects insights from academic research, leading analysts and consultancies and observe related case studies, to come up with best practices for the implementation of innovation in organizations. We review models for innovation leadership, culture, innovation strategy and goals; discuss mechanisms for learning and knowledge sharing, and review the required set of incentives and rewards. Focusing on Innovation challenges we collect insights and best practices regarding strategy alignment, management support, idea generation and commercialization, speed, lean processes, innovation events and sharing platforms as well as innovation metrics. In search for optimal innovation implementation methods, we review studies on high performing companies and present case studies on how innovative companies implement innovation in their organization.
The 130 page PPT report “Organizational Innovation: Implementing innovation in organizations” is targeted at innovation stakeholders and aids in structuring the organization towards effective innovation.
This is a sample report.
20 Innovation Tools that can help make innovation projects more successful and enjoyable.
We hope that this booklet can inspire you to challenge the way you innovate. Try out some of it with your teams right away, rather than wait for the perfect occasion.
Business Innovation Report by TrendsSpotting: Innovation Strategy, Performanc...Taly Weiss
The purpose of this review is to provide a deep understanding of innovation and its business potential. We will focus on innovation outcomes in terms of performance and present empirical findings linking innovation to business success. We introduce basic definitions of innovation, explore the most common forms of innovation (adding examples and case studies) and discuss disruptive innovation. We identify key innovation strategies developed and tested in academic and business research. We glance into rankings of the most innovative companies to learn on their performance and growth potential. Finally we will study how companies measure innovation and what parameters are critical for them to follow. At the end of the report, we have compiled an insightful “take away” and present extensive case study summarizing key innovation aspects in innovation implementation.
The 140 page PPT report is targeted at innovation stakeholders aiming to promote innovation efforts linked to business success & growth
Why innovation is important to business successFrank Reynold
Innovation is coming up with a new idea and turning it into an effective process, a new product or service. The implementation of creativity and innovation in business is likely to incorporate success and help you stand competitiveness in the market. Innovation can be referred to as something new or introduced differently and has impact on market or society.
Best Practices for an Effective Innovation ProcessMindjet
In our webinar with Forrester VP and analyst Chip Gliedman, we discuss best practices for implementing an effective innovation process, from ideas through execution.
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
Organizational Innovation Report by TrendsSpotting: Implementing innovation i...Taly Weiss
In this review we collects insights from academic research, leading analysts and consultancies and observe related case studies, to come up with best practices for the implementation of innovation in organizations. We review models for innovation leadership, culture, innovation strategy and goals; discuss mechanisms for learning and knowledge sharing, and review the required set of incentives and rewards. Focusing on Innovation challenges we collect insights and best practices regarding strategy alignment, management support, idea generation and commercialization, speed, lean processes, innovation events and sharing platforms as well as innovation metrics. In search for optimal innovation implementation methods, we review studies on high performing companies and present case studies on how innovative companies implement innovation in their organization.
The 130 page PPT report “Organizational Innovation: Implementing innovation in organizations” is targeted at innovation stakeholders and aids in structuring the organization towards effective innovation.
This is a sample report.
20 Innovation Tools that can help make innovation projects more successful and enjoyable.
We hope that this booklet can inspire you to challenge the way you innovate. Try out some of it with your teams right away, rather than wait for the perfect occasion.
понятие как форма мышления. определение понятияklushnikovaea
Данный урок проводится в 6 классе при изучении раздела темы «Понятие – как форма мышления. Определение понятия» по образовательной программе Информатика 6 класс Босова Л.Л. в рамках раздела «Человек и информация».
На уроке учащиеся закрепляют полученные знания о содержании и объеме понятия, отношениями между понятиями, об общих подходах к сравнению понятий, получают знания об одном из приемов определения понятия через род и видовое отличие, выполняя задания, предложенные учителем в режиме интерактивной доски.
Учащиеся выполняют практическую работу в графическом редакторе Paint. В ходе ее выполнения учащиеся углубляют представления о возможностях редактирования графических изображений.
Innomantra Viewpoint - Getting Bold innovation Right v1.0 Innomantra
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
The element ‘SUPPORT’ finds relevance in the innovation management system. To manage innovation effectively, the organization should jump in and facilitate the required resources for establishing, implementing, maintaining, and continual improvement of the innovation management system. The resources come in different forms such as Time, Knowledge, Financial resources, Infrastructure, and Human resources. For effective implementation of the standard, organizations are responsible for determining, providing, and managing the right people. Organizations must identify and develop teams with diverse backgrounds, to enhance cross-pollination and leverage the collective competence of the organization (ISO 56002:2019).
The element 'SUPPORT' encompasses the following sub-clauses, which are the different ways in which support could be extended:
Organisations continue to search for the magic snake oil that will bring their innovation programs to life. But there is no magic. Its about building a portfolio of experiments and abolishing the "big-bang" approach that looks for the one thing to transform the business.
How any organisation can drive culture and design systems to pursue practical...Toby Farren
This whitepaper will provide an insight into the different elements of modern innovation fostering,
including the various factors determining the capability of organisations to innovate internally;
the differences between frontend and backend innovation; and a focus on the relatively new
‘open’ innovation methods (including the advantages of utilizing sandboxes in the frontend
innovation process as well as collaborating with external bodies).
CIOAA partnered with NTT Communications to organise this exclusive CIO Workshop bringing together a select group of tech leaders to discuss game-changing strategies on how innovation can re-shape businesses today.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Unveiling the Secrets How Does Generative AI Work.pdf
Gurudevs Article In Ce Obulletin000023 En
1. Issue 23 CEO Europe CEO Files
The Challenges of Measuring Innovation
Written by Charu Bahri, first printed in IT magazine, India
The age of IT is in many ways an age of innovation. Our ever burgeoning,
discerning, global consumer base recognises and rewards newness in
product and process. Such prospective demand fuels R&D efforts across the
world. But how is innovation measured?
The value of a new product or process depends on its market reception. Correctly
gauged, this can translate into billions of rupees for an organisation. But an incorrect
measure of innovation can spell its doom. After all, any R&D process calls for major
budgetary outlays. In fact, R&D budgets often appear over-the-top, but cutting these
may imply that a company is left with fewer products in the pipeline – a far from
healthy situation, especially if the company’s bottomline is driven by innovation.
In Innovation and Entrepreneurship, management guru Peter Drucker defined
innovation as a “specific instrument of entrepreneurship” and “the act that endows
resources with a new capacity to create wealth.” In a world where change is rapid,
and where a certain technology saturation level is already being spoken about, the
quality and maturity of innovation metrics have assumed an important role in
business. Innovation has, in many ways, become the central competitive factor in
many industries, which must be measured from both – a technological as well as a
human perspective.
The importance of the market’s maturity
The innovation process undoubtedly needs attention and funds, but this expenditure
must be focused towards minimising risk. Besides, technological innovation must be in
sync with market expectations or the level of maturity of a market, so as to ensure
the easy absorption of new products.
As Gurudev Goud, regional director – global technology alliance and partner relations,
and Prakasan Kappoth, manager – systematic innovation, both from MindTree
Written by Consulting, say, “Many technology products fail in the market because consumers are
Gurudev Goud, not yet ready to accept them, as they are ahead of their time. The Apple Newton is a
iCEO #26271 good example of such a product. If consumer expectation is a measurement criterion,
then yes, a failure to gauge the maturity level of a market leads to the failure of an
innovation.”
Find us on the Web:
Research associate at the MIT Media Lab and a senior adviser to MIT’s Security
www.ceo-europe.com
Studies Programme, Michael Schrage emphasises this marketability aspect of
innovation by saying, “Innovation is not what innovators innovate; it is what
+33 (0) 970 448 419
customers actually adopt.”
2. CEO Expert Files Page 2 / 5
What you spend is not always what you get
It would, however, not be correct to assume that any innovation accepted by the
market is good, regardless of its cost. Customer acceptance is a factor external to an
organisation. Other internal factors, such as R&D spending, have a bearing on the
quality of innovation. Goud and Kappoth highlight the financial constraints of
innovation, especially insofar as ‘commercial innovation’ is concerned. They very
practically point out that, “Ideas popping up in one’s mind very soon become
shadowed by the implementation cost.”
In other words, a good idea is not the sole measure of innovation. The idea must
translate into a commercially feasible product, implying that both the process of
product development and the product pricing must correlate with market expectations
and the potential returns from the product. Hence, a case of “Let’s spend more, since
we’ll end up with a better product” might not be financially sustainable.
Goud and Kappoth make another interesting observation about R&D spending and
innovation. According to them, “The real innovation happens when one works within
constraints, or makes something possible with the constraints.”
The influence of management policy
The mindset of an individual is also affected by an organisation’s management
policies. Employees need an environment conducive to innovation, and once the right
ideas emerge, these must be steered in the right direction by a proactive
management. According to Goud and Kappoth, “Management nurturing is very
important for the success of any innovation. The experimental mindset of an
organisation plays a crucial role in encouraging an individual, and creating a
motivating and supportive eco-system.”
In fact, controls over the innovation process may only be implemented when a sound
management policy that’s based on innovation best practices is in place. This in turn
entails measuring innovation, as putting a value on innovation will help comparison
between simultaneous R&D efforts. In a competitive environment, this enables the
allocation of limited resources to where they can do a company the most good.
The creative angle
Written by But as Dr Ashok Jhunjhunwala of the Department of Electrical Engineering at the
Gurudev Goud, Indian Institute of Technology, Chennai comments, “There can’t really be an objective
iCEO #26271 criteria for this [measuring innovation]. This requires knowledge of market,
technologies available, the technology being patented, and the price point at which it
can be introduced. The value is finally dependent on market success. Only a feel of
Find us on the Web: experienced people, rather than objective criteria can be used.”
www.ceo-europe.com
+33 (0) 970 448 419 The crux is that innovation is a creative process – and all creative processes involve
an aspect of venturing into the unknown, or doing what has never been done before.
An innovation metric must value its creativity as well as its functionality and business
prospects. In the case of new technology, a value must be assigned to the entire
range of the potential uses of the technology.
3. CEO Expert Files Page 3 / 5
In business parlance, this assumes the nature of a technology diffusion study, which
looks into all possible ways a new technology may be applied. A listing of these uses
is followed by a market projection for each, thus arriving at the value of the
technology.
The valuation process: First ideation
In a sense, the lifecycle of an idea is itself a process of valuation. An idea enters two
distinct phases, ideation and incubation, prior to being developed into a product.
Ideation is the process wherein the management studies all aspects of the idea to
determine if it is in consonance with the organisation’s overall business direction, and
hence worthy of financial backing.
M Sridhar Chakravarthi, CEO of Sridhar’s Quality Academy, explains two processes --
the evaluation of the return on investment and the potential impact of an innovation -
- as the practice of asking why we want to implement an innovative idea. As he says,
“There has to be a very objective evaluation. ‘To improve client satisfaction’ is very
vague. ‘To reduce billing cost per seat by $1 per hour’ is exciting and well appreciated
by clients.”
A part of the ideation phase is a commercial feasibility study as well as a cost-benefit
analysis, wherein Chakravarthi says the management understands the efforts and
expenses involved in implementing the idea. These could involve re-training
expenses, which he cites as usually neglected, or examining current commitments
and other delivery pressures to come up with a possible implementation schedule. If
the idea is relegated to the future due to lack of time, then the idea may not be worth
the effort, as it failed to create the necessary urgency.
While a certain section of people reckon that the valuation of innovation starts at the
ideation phase, Goud and Kappoth believe measuring ideation may harm the idea
generation capability in an innovation life cycle. They explain that ideation is a very
sensitive and delicate process and hence, it should be nurtured rather than measured.
Incubation: getting your priorities right
The incubation phase that follows ideation also plays an important role in the process
of measuring innovation. Chakravarthi describes this stage as the implementation of
an idea, wherein actual brick and mortar work is done, and the necessary funds and
resources are committed. The process needs to be carefully controlled and monitored.
Written by
Gurudev Goud, As he says, “There is no point in launching multiple teams with many initiatives and
iCEO #26271 not monitoring their progress, as they would end up like our joint parliamentary
committees, with hardly any results, if ever.” An idea that is deemed a potential
success during the incubation stage enters the process of product development.
Find us on the Web:
www.ceo-europe.com An interesting observation made by Futurethink, a leading innovation research, tools
and services firm, during its 2007 Futurethink Innovation Tracker survey, is that
+33 (0) 970 448 419 companies that consistently emphasise ‘delivering value’ over creativity per se, are
significantly more effective at innovating. As such, while creativity must be
emphasised, innovation may no longer be considered a predominantly creative
endeavour.
4. CEO Expert Files Page 4 / 5
In the words of Lisa Bodell, CEO of Futurethink, “The free flow of ideas and
creativity should not be underestimated. However, they should be viewed as a
means to an end, not the end result.” The end now translates as delivering value, by
launching a new product or process, after formulating an effective business strategy.
Innovation by the takeover route
Innovation can occur anywhere – in a garage or in a corporate R&D lab. But
essentially, every idea goes through valuation processes prior to being converted
into a saleable product. Some people believe that the real breakthroughs of our
century were born in garages! Does that mean their valuation process was better?
Not really, but it is true that while companies may be able to generate more ideas,
they have more at stake. Their investments are obviously greater than a start-up,
which is perhaps why we so often see huge companies purchase the work of smaller
companies and launch or re-launch their products.
Such takeovers make the process of valuing the worth of innovation much easier, as
the spadework has already been effectively done on a small scale. This indicates the
inherent difficulty of measuring innovation, and also points to the fact that
innovation is not always born in R&D labs. In fact, innovation that’s related to
improving the efficiency, effectiveness and productivity of an organisational process,
is often arrived at by employees on the job. For instance, one of Dell Computers’
greatest innovations was to pioneer a new way of selling – customers specifying
build-to-order systems online.
Chakravarthi mentions three aspects of innovation – innovation aimed at solving a
problem, an internal initiative aimed at improving business results by refining
existing processes (even when they are working well), and thirdly, value addition for
clients. He explains the last as, “What we do when we are forced by clients to justify
our continued association. We then think out-of-the-box to come up with value
additions for our clients!”
The incremental nature of innovation
All said and done, innovation may yield a new product or process, and insofar as
products are concerned, it may produce a completely new product, technology or
relate to ongoing product or technological development.
Written by
Gurudev Goud, In fact, the incremental nature of innovation in the world of information technology
iCEO #26271 has made it easier to file a patent for a product, technology or process. Goud and
Kappoth point out that anyone can file for a patent – if they could afford it – by
making minor changes to, and thus bypassing, an existing patent. So while the
Find us on the Web: creation of an innovation portfolio may list the number of patents as measurement
criteria, the success of an innovation in real terms cannot be related to patent
www.ceo-europe.com
activity.
+33 (0) 970 448 419
Besides, patent activity fails to capture process and business model innovations –
the former is especially applicable in the case of ongoing product development.
Process improvements may be linked to better functionality, cost or size reductions.
5. CEO Expert Files Page 5 / 5
However, according to Goud and Kappoth, innovations related to new product
developments are more synergetic than ongoing product development. People
involved in the process of developing completely new products tend to be more
enthusiastic about researching a technology, markets, etc – which is great because
launching a new technology or product requires emphasis on the execution of
innovation. It is not enough to have an innovative product. The potential pitfalls are
many – manufacturing, reliability, marketing, usability, customer support, costs, etc.
Hence, a business needs to focus on business variables alongside R&D metrics.
Goud and Kappoth believe the type of metrics account for the success of a product.
For instance, time and effort – a typical metric – may not have any impact on the
success of a product, but metrics that explain where in the products’ S – Curve a
business is, where it needs to go, and how, make more sense and are more
relevant.
IBM’s EBO framework
In 2003, IBM came up with an emerging business opportunities (EBO) framework in
partnership with Product Development Consulting Inc. The two firms put together
their experience, available research and a database of innovation best practices to
come up with a framework that helps tackle the problem of measuring innovation.
This framework provides an objective way to measure many processes, and
separates the development of completely new products and technologies from
ongoing product improvement.
The model covers 30 aspects of innovation, aiming to help organisations figure out
what works and what doesn’t. In a sense, the exhaustive coverage of this framework
indicates that while there is no single measure of innovation, there is no escaping
this process. Our increasingly competitive world requires, even forces, IT companies
to innovate, or be left behind.
So if your innovation budgets are significant, you may need to take a long, hard look
at your current innovation process to determine how mature your innovation metrics
are. It is not an easy task but it definitely has the potential to transform your
business.
About the author:
Written by Charu Bahri is a freelance writer, columnist
Gurudev Goud, and [part-time] manager, Projects and
iCEO #26271 Information Systems at J Watumull Global
Hospital & Research Centre.
Find us on the Web:
www.ceo-europe.com The article has been written in cooperation with Gurudev
Goud, who has over 15 years of technology selling
+33 (0) 970 448 419
experience in Healthcare, Logistics, IT, Telecom,
Semiconductor and Software industry and focuses as
Senior Director on strategies to forge, encourage, and
leverage Technology Alliances to generate business
globally