SlideShare a Scribd company logo
Volume 23 | Issue 1
Oct - Nov 2021
“To facilitate the
implementation of
innovation and
identify innovators,
what is vital is
creating a path by
removing the
blockers and
providing the
ecosystem”.
- Alexander Osterwalder
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
Supporting System
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:
To deep-dive into one of the most widely used tools for business model
generation, the business model canvas for designing and testing the business
ideas, a framework to evaluate the critical building blocks or enablers that make
up a company existing business model or develop a new business model that one
envisions to create. It consists of following nine building blocks or enablers;
1.Customer Segments
2.Customer Relationships
3.Channels
4.Value propositions
5.Key Partners
6.Key Activities
7.Key Resources
8.Cost Structure
9.Revenue Streams
1. Resources
2. Competence
3. Awareness
4. Communication
5. Documented Information
6. Tools And Methods
7. Strategic Intelligence Management
8. Intellectual Property Management
Viewpoint
Page 1
that allow to describe or design every business model one can envisage, the
ultimate possibilities, and thousands of alternatives. The uniqueness of the
business model is identifying the possible pieces that fit into the nine building
blocks and how each can leverage and get the job done to create a value
proposition to the different customer segments through various channels as
touchpoints from a competitive advantage standpoint.
Strategy to Execution
The business canvas allows one to sketch out to deliver value considering key
elements. The essential resources are the assets needed to provide the required
infrastructure, the critical activities involved, and the key partnerships required to
leverage the business model. And finally, the cost structure that makes the
business model work and the revenue streams from how and through which
pricing mechanisms the Business Model is capturing value. So, the entire business
model is captured in a single image to see the future picture by reflecting on those
nine building blocks. Concerning innovation management, the tool Business
Model evaluates, addresses the gap, tests the hypothesis, and optimizes the idea.
The blue ocean strategy introduced by W.C. Kim and R. Mauborgne about
navigating in the blue waters for a next business idea and dominating a market for
years to come, starting to focus on the frustrations of customers outside of the
current market space as to why they don’t like or use your existing product/service.
Then look at existing products or services within the market and try to figure out
four things that could be eliminated, reduced, raised, incorporated to create
something new and attract infrequent or absent customers by pulling these four
levers gradually to develop a product that defies the status quo and create a new
product category that will dominate. So, the focus is on making the competition
irrelevant rather than on how to beat the competition.
With the above tools, the organization could establish an approach for determining,
developing, and managing competencies to manage innovation activities, identify
insights and opportunities, create ideas and concepts, design, validate concepts,
`and develop and deploy solutions to realize value. Enabling that people involved
in the innovation activities know the vision, strategy, policy, and objectives. The
specification for all internal and external communications shall be considered
within the innovation management system. The standard ISO 56002 also requires
the organization’s innovation management system to include documented
information based on the standard's suggestions and the organization's criteria. In
addition, provide necessary tools and methods, internal processes to manage
strategic intelligence and intellectual property.
How easy things would have been if we knew if a certain, idea works or not? Well,
thanks to processes where an idea can be tested and help us have an intelligent
failure according to Rita McGrath, Innovation thought leader and Professor at
Harvard business school, failing productively into the foray of unknowns with full
of uncertainties. So, this concept provides a tolerance of failure that translates into
wider variety of experiences, trying more things, contributing to the chances of
discovering something new. Secondly, it can also be applied to leaders who are
open to shifting abilities and willing to try new things, thus opening doors for new
leaders. Finally, early failures and small bets can sometimes help determine when
it is impossible to pursue a common point of action.
Viewpoint
Create the Future
“Organizations
have habits. And
they will cling to
their habits at the
expense sometimes
of their own
survival”.
-Rita McGrath
Page 2
Idea to Reality
A well-known process is the lean startup changes everything by Steve Blank, an
American entrepreneur and educator say’s turning the conventional wisdom about
entrepreneurship and the fallacy of the perfect business plan, consisting of three
key principles; the first is the business model canvass. Leaders except that it is a
series of untested hypotheses, so it is about testing instead of writing an intricate
business plan.
1. Identify the user/customer to test hypotheses by reaching out to the
potential users, purchasers, and partners for feedback on all business
model elements; the emphasis is on nimbleness and speeds new
ventures rapidly assemble Minimum Viable products and immediately
elicit customer feedback.
2. Using those customer's insights to test, tweak and iterate the offerings
hand in hand with customer problems.
3. Agile development is about co-creating with customer; unlike typical
product development methods that presuppose knowledge of
customers problems and product needs, agile development eliminates
un-productive time and resources by developing the product iteratively
and incrementally it's the process by which startups create the
Minimum Viable Product that is passing to the test. All these favors
experimentation and iterative design make the process of starting a
company less risky.
Closely related to the above approach is such as ‘Design Thinking’, it is to visualize
by taking a vision of the future and creating a space that allows people to live into
that future. The premise of this strategy is to inspire people and bring their designer
mindset or artists in them and help them in a much more systematic way to be
creative—a missing toolkit from the business world that supplemented traditional
analytical tools that optimized for uncertainty.
The element ‘Processes’ is about the requirements relevant to the planning,
implementing, and controlling of the innovation initiatives and processes. To
conclude the operation is the 'DO' part of the Plan Do Check Act (PDCA) cycle with
a right support system. The included sub-clauses are:
• Operational Planning and Control
• Innovation Initiatives
• Innovation Process
**********
Page 3
“The greatest risk
is not the
development of new
products, but the
development of new
customers and
markets”.
-Steve Blank
Viewpoint
Create the Future
Authors
Neelima Joseph
Professional Innovation Management Specialist, Sweden
Lokesh Venkataswamy
Design Thinker, CEO & Managing Director, India
About Innomantra
Innomantra is a leading Digital, Innovation, and Intellectual property management consulting and services
firm. It helps organizations to design and achieve their digital strategy from idea to implementation,
Innovation Management Systems, and Intellectual property goals by enhancing culture for amplified efficiency
and exponential growth.Innovation3x and Discover Design Thinking describe the philosophy which it believes
in, that innovative organizations must identify innovation goals that seek to achieve a 3x and beyond to boost
their performance. Innomantra's signature three-fold approach to innovation that looks at overall business
strategy, people, and functional systems in a digital ecosystem is globally recognized. Innomantra has a wide
range of 50+ clients range from small and medium businesses to Fortune Global 500 organizations. It has a
strategic alliance with global leaders in Digital and Innovation. Innomantra is headquartered in Bengaluru,
India, and has a global presence.
Innomantra Consulting Private Limited
Level 9, Raheja Towers
Mahatma Gandhi Road, Bengaluru - 560 001, India
Mobile: +91 98452 72555
+91 080 41253444
contact@innomantra.com
www.innomantra.com
Bangalore / Mysore / Colombo / Chicago / Hong Kong / Troy / Zurich
2021© Innomantra Consulting Private Limi
Page 4
Viewpoint
Create the Future

More Related Content

What's hot

Management Innovation
Management InnovationManagement Innovation
Management Innovation
Whatever Marketing
 
Introduction to strategic management
Introduction to strategic managementIntroduction to strategic management
Introduction to strategic management
Centre for Social Initiative and Management
 
Information System Strategy
Information System StrategyInformation System Strategy
Information System Strategy
RechelleRamosUbaldo
 
Key terms in strategic management
Key terms in strategic managementKey terms in strategic management
Key terms in strategic management
reMARK - The Marketing Students' Association
 
Corporate Strategy
Corporate StrategyCorporate Strategy
Corporate Strategy
ahmad bassiouny
 
Organisational innovation
Organisational innovationOrganisational innovation
Organisational innovation
Charanya Naidu
 
Biz dev presentation 5
Biz dev presentation 5Biz dev presentation 5
Biz dev presentation 5
Mohammad Emaminejad
 
Functional strategies
Functional strategiesFunctional strategies
Functional strategies
Tavleensusan Korah
 
Strategic intent
Strategic intentStrategic intent
Strategic intent
Yash chanana
 
Innovation Management: Collaboration
Innovation Management: CollaborationInnovation Management: Collaboration
Innovation Management: Collaboration
Rinkweijs
 
Ch12 innovation and corporate entrepreneuship
Ch12 innovation and corporate entrepreneushipCh12 innovation and corporate entrepreneuship
Ch12 innovation and corporate entrepreneuship
fdwaas20
 
Strategic management
Strategic management Strategic management
Strategic management
Tejas Atyam
 
The strategic management process(an overview)
The strategic management process(an overview)The strategic management process(an overview)
The strategic management process(an overview)
jawalala
 
Managing growth & transition
Managing growth & transitionManaging growth & transition
Managing growth & transition
nanuandpankoo
 
Unit 1 Strategic Management Process
Unit 1 Strategic Management ProcessUnit 1 Strategic Management Process
Unit 1 Strategic Management Process
Dr. Prashant Kalaskar
 
Corporate level strategic alternatives
Corporate  level strategic alternativesCorporate  level strategic alternatives
Corporate level strategic alternatives
Pranav Kumar Ojha
 
Ch 8 strategic management
Ch 8 strategic managementCh 8 strategic management
Ch 8 strategic management
Nardin A
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurship
Jorge Saguinsin
 
Crafting & Executing Strategy
Crafting & Executing StrategyCrafting & Executing Strategy
Crafting & Executing Strategy
Harsh Parekh
 
Managerial process of crafting strategy
Managerial process of crafting strategyManagerial process of crafting strategy
Managerial process of crafting strategy
MD SALMAN ANJUM
 

What's hot (20)

Management Innovation
Management InnovationManagement Innovation
Management Innovation
 
Introduction to strategic management
Introduction to strategic managementIntroduction to strategic management
Introduction to strategic management
 
Information System Strategy
Information System StrategyInformation System Strategy
Information System Strategy
 
Key terms in strategic management
Key terms in strategic managementKey terms in strategic management
Key terms in strategic management
 
Corporate Strategy
Corporate StrategyCorporate Strategy
Corporate Strategy
 
Organisational innovation
Organisational innovationOrganisational innovation
Organisational innovation
 
Biz dev presentation 5
Biz dev presentation 5Biz dev presentation 5
Biz dev presentation 5
 
Functional strategies
Functional strategiesFunctional strategies
Functional strategies
 
Strategic intent
Strategic intentStrategic intent
Strategic intent
 
Innovation Management: Collaboration
Innovation Management: CollaborationInnovation Management: Collaboration
Innovation Management: Collaboration
 
Ch12 innovation and corporate entrepreneuship
Ch12 innovation and corporate entrepreneushipCh12 innovation and corporate entrepreneuship
Ch12 innovation and corporate entrepreneuship
 
Strategic management
Strategic management Strategic management
Strategic management
 
The strategic management process(an overview)
The strategic management process(an overview)The strategic management process(an overview)
The strategic management process(an overview)
 
Managing growth & transition
Managing growth & transitionManaging growth & transition
Managing growth & transition
 
Unit 1 Strategic Management Process
Unit 1 Strategic Management ProcessUnit 1 Strategic Management Process
Unit 1 Strategic Management Process
 
Corporate level strategic alternatives
Corporate  level strategic alternativesCorporate  level strategic alternatives
Corporate level strategic alternatives
 
Ch 8 strategic management
Ch 8 strategic managementCh 8 strategic management
Ch 8 strategic management
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurship
 
Crafting & Executing Strategy
Crafting & Executing StrategyCrafting & Executing Strategy
Crafting & Executing Strategy
 
Managerial process of crafting strategy
Managerial process of crafting strategyManagerial process of crafting strategy
Managerial process of crafting strategy
 

Similar to Innomantra Viewpoint - Getting Bold innovation Right v1.0

Innovation Guest lecture Tu Delft
Innovation Guest lecture Tu Delft Innovation Guest lecture Tu Delft
Innovation Guest lecture Tu Delft
Koen Klokgieters
 
2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot
Nadia Lushchak
 
Business Evolution Support
Business Evolution SupportBusiness Evolution Support
Business Evolution Support
Paola De Vecchi Galbiati
 
PA Consulting Innovation Strategy Playbook
PA Consulting Innovation Strategy PlaybookPA Consulting Innovation Strategy Playbook
PA Consulting Innovation Strategy Playbook
Hugo Raaijmakers
 
Venture Path
Venture PathVenture Path
Venture Path
Deloitte UK
 
Service Innovation.pptx
Service Innovation.pptxService Innovation.pptx
Service Innovation.pptx
AnkitaAnki16
 
OperatingModelForProductCos
OperatingModelForProductCosOperatingModelForProductCos
OperatingModelForProductCos
Ravi Padaki
 
Success and Impact in Innovation Programs
Success and Impact in Innovation ProgramsSuccess and Impact in Innovation Programs
Success and Impact in Innovation Programs
paganibr
 
8000 tcm882 4812
8000 tcm882 48128000 tcm882 4812
8000 tcm882 4812
vnprabhu86
 
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
femifala
 
Innovation process management whitepaper
Innovation process management whitepaperInnovation process management whitepaper
Innovation process management whitepaper
Neeraj Thakur
 
Digital agility 1172014
Digital agility 1172014Digital agility 1172014
Digital agility 1172014
Michael Bromley
 
Collaborative innovation canvas
Collaborative innovation canvasCollaborative innovation canvas
Collaborative innovation canvas
MBI Program - Bangkok University
 
Agilitive
Agilitive Agilitive
Agilitive
Abhijit Prabhudan
 
Business development and enterprise (update) 1
Business development and enterprise (update) 1Business development and enterprise (update) 1
Business development and enterprise (update) 1
ahzilah
 
Innomantra viewpoint -The End of CXOs Innovation Peekaboo
Innomantra viewpoint -The End of CXOs Innovation Peekaboo Innomantra viewpoint -The End of CXOs Innovation Peekaboo
Innomantra viewpoint -The End of CXOs Innovation Peekaboo
Innomantra
 
How to Embed Innovation into Organization Culture Part 2
How to Embed Innovation into Organization Culture Part 2How to Embed Innovation into Organization Culture Part 2
How to Embed Innovation into Organization Culture Part 2
cfrangos
 
How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...
Toby Farren
 
A holistic approach to Innovation Excellence
A holistic approach to Innovation ExcellenceA holistic approach to Innovation Excellence
A holistic approach to Innovation Excellence
Kienbaum Consultants
 
How to Innovate...Strategically: What Innovation Approach Should You Use When?
How to Innovate...Strategically: What Innovation Approach Should You Use When?How to Innovate...Strategically: What Innovation Approach Should You Use When?
How to Innovate...Strategically: What Innovation Approach Should You Use When?
Kevin C. Cummins
 

Similar to Innomantra Viewpoint - Getting Bold innovation Right v1.0 (20)

Innovation Guest lecture Tu Delft
Innovation Guest lecture Tu Delft Innovation Guest lecture Tu Delft
Innovation Guest lecture Tu Delft
 
2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot2016 - 2. Innovation as a core business process.pot
2016 - 2. Innovation as a core business process.pot
 
Business Evolution Support
Business Evolution SupportBusiness Evolution Support
Business Evolution Support
 
PA Consulting Innovation Strategy Playbook
PA Consulting Innovation Strategy PlaybookPA Consulting Innovation Strategy Playbook
PA Consulting Innovation Strategy Playbook
 
Venture Path
Venture PathVenture Path
Venture Path
 
Service Innovation.pptx
Service Innovation.pptxService Innovation.pptx
Service Innovation.pptx
 
OperatingModelForProductCos
OperatingModelForProductCosOperatingModelForProductCos
OperatingModelForProductCos
 
Success and Impact in Innovation Programs
Success and Impact in Innovation ProgramsSuccess and Impact in Innovation Programs
Success and Impact in Innovation Programs
 
8000 tcm882 4812
8000 tcm882 48128000 tcm882 4812
8000 tcm882 4812
 
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
5-Levers-of-Corporate-Entrepreneurship-Rainmaking-Transport
 
Innovation process management whitepaper
Innovation process management whitepaperInnovation process management whitepaper
Innovation process management whitepaper
 
Digital agility 1172014
Digital agility 1172014Digital agility 1172014
Digital agility 1172014
 
Collaborative innovation canvas
Collaborative innovation canvasCollaborative innovation canvas
Collaborative innovation canvas
 
Agilitive
Agilitive Agilitive
Agilitive
 
Business development and enterprise (update) 1
Business development and enterprise (update) 1Business development and enterprise (update) 1
Business development and enterprise (update) 1
 
Innomantra viewpoint -The End of CXOs Innovation Peekaboo
Innomantra viewpoint -The End of CXOs Innovation Peekaboo Innomantra viewpoint -The End of CXOs Innovation Peekaboo
Innomantra viewpoint -The End of CXOs Innovation Peekaboo
 
How to Embed Innovation into Organization Culture Part 2
How to Embed Innovation into Organization Culture Part 2How to Embed Innovation into Organization Culture Part 2
How to Embed Innovation into Organization Culture Part 2
 
How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...How any organisation can drive culture and design systems to pursue practical...
How any organisation can drive culture and design systems to pursue practical...
 
A holistic approach to Innovation Excellence
A holistic approach to Innovation ExcellenceA holistic approach to Innovation Excellence
A holistic approach to Innovation Excellence
 
How to Innovate...Strategically: What Innovation Approach Should You Use When?
How to Innovate...Strategically: What Innovation Approach Should You Use When?How to Innovate...Strategically: What Innovation Approach Should You Use When?
How to Innovate...Strategically: What Innovation Approach Should You Use When?
 

More from Innomantra

Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra
 
Redefining Cost Innovation For Growth and Sustainablity
Redefining Cost Innovation For Growth and SustainablityRedefining Cost Innovation For Growth and Sustainablity
Redefining Cost Innovation For Growth and Sustainablity
Innomantra
 
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , ChennaiMahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
Innomantra
 
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdfInnomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
Innomantra
 
ISQ-Bangalore Network Members Meet 2024.pdf
ISQ-Bangalore Network Members Meet 2024.pdfISQ-Bangalore Network Members Meet 2024.pdf
ISQ-Bangalore Network Members Meet 2024.pdf
Innomantra
 
BCIC - Manufacturing Conclave - Technology-Driven Manufacturing for Growth
BCIC - Manufacturing Conclave -  Technology-Driven Manufacturing for GrowthBCIC - Manufacturing Conclave -  Technology-Driven Manufacturing for Growth
BCIC - Manufacturing Conclave - Technology-Driven Manufacturing for Growth
Innomantra
 
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdfACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
Innomantra
 
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
Innomantra
 
ASIP 2022 Conference Schedule 22 Nov 22.pdf
ASIP 2022 Conference Schedule 22 Nov 22.pdfASIP 2022 Conference Schedule 22 Nov 22.pdf
ASIP 2022 Conference Schedule 22 Nov 22.pdf
Innomantra
 
INNOMANTRA -SJCC 2022 V1.0.pdf
INNOMANTRA -SJCC 2022 V1.0.pdfINNOMANTRA -SJCC 2022 V1.0.pdf
INNOMANTRA -SJCC 2022 V1.0.pdf
Innomantra
 
Innomantra fortune india -company of the year 2022
Innomantra  fortune india -company of the year 2022 Innomantra  fortune india -company of the year 2022
Innomantra fortune india -company of the year 2022
Innomantra
 
Innomantra - Create the Future - Product Portfolio 2022 v1.0F
Innomantra - Create the Future - Product Portfolio 2022 v1.0FInnomantra - Create the Future - Product Portfolio 2022 v1.0F
Innomantra - Create the Future - Product Portfolio 2022 v1.0F
Innomantra
 
Innomantra - Create The Future - Introduction Deck - 2022 v1.0
Innomantra - Create The Future - Introduction Deck - 2022 v1.0Innomantra - Create The Future - Introduction Deck - 2022 v1.0
Innomantra - Create The Future - Introduction Deck - 2022 v1.0
Innomantra
 
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
Innomantra
 
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for GrowthIET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
Innomantra
 
Celebrating 11 years of innovation
Celebrating 11 years of innovation Celebrating 11 years of innovation
Celebrating 11 years of innovation
Innomantra
 
Innomantra @ 3D Printing World 2021
Innomantra @ 3D Printing World 2021Innomantra @ 3D Printing World 2021
Innomantra @ 3D Printing World 2021
Innomantra
 
Strategic Business Planning for Startups in Post COVID World
Strategic Business Planning for Startups in Post COVID WorldStrategic Business Planning for Startups in Post COVID World
Strategic Business Planning for Startups in Post COVID World
Innomantra
 
Innomantra viewpoint vital sign monitors covid 19 v1.0FF July 2020
Innomantra viewpoint vital sign monitors covid 19  v1.0FF July 2020Innomantra viewpoint vital sign monitors covid 19  v1.0FF July 2020
Innomantra viewpoint vital sign monitors covid 19 v1.0FF July 2020
Innomantra
 
Innomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
Innomantra Viewpoint - Reinvent Cost Innovation for Digital TransformationInnomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
Innomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
Innomantra
 

More from Innomantra (20)

Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
 
Redefining Cost Innovation For Growth and Sustainablity
Redefining Cost Innovation For Growth and SustainablityRedefining Cost Innovation For Growth and Sustainablity
Redefining Cost Innovation For Growth and Sustainablity
 
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , ChennaiMahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
Mahindra Tech Symposium 2024 - Mahindra Rearch Valley , Chennai
 
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdfInnomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
Innomantra-Amplify Masterclass IMS ISO56000 Feb 13-14 v2.0 (3).pdf
 
ISQ-Bangalore Network Members Meet 2024.pdf
ISQ-Bangalore Network Members Meet 2024.pdfISQ-Bangalore Network Members Meet 2024.pdf
ISQ-Bangalore Network Members Meet 2024.pdf
 
BCIC - Manufacturing Conclave - Technology-Driven Manufacturing for Growth
BCIC - Manufacturing Conclave -  Technology-Driven Manufacturing for GrowthBCIC - Manufacturing Conclave -  Technology-Driven Manufacturing for Growth
BCIC - Manufacturing Conclave - Technology-Driven Manufacturing for Growth
 
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdfACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
ACMA MASTERCLASS - Disruptive Innovation for Growth - FEB 2023 v1.0F.pdf
 
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
ASIP 2022 Conference Schedule and Proceedings v1.0 - Co-Sponsored by Innomant...
 
ASIP 2022 Conference Schedule 22 Nov 22.pdf
ASIP 2022 Conference Schedule 22 Nov 22.pdfASIP 2022 Conference Schedule 22 Nov 22.pdf
ASIP 2022 Conference Schedule 22 Nov 22.pdf
 
INNOMANTRA -SJCC 2022 V1.0.pdf
INNOMANTRA -SJCC 2022 V1.0.pdfINNOMANTRA -SJCC 2022 V1.0.pdf
INNOMANTRA -SJCC 2022 V1.0.pdf
 
Innomantra fortune india -company of the year 2022
Innomantra  fortune india -company of the year 2022 Innomantra  fortune india -company of the year 2022
Innomantra fortune india -company of the year 2022
 
Innomantra - Create the Future - Product Portfolio 2022 v1.0F
Innomantra - Create the Future - Product Portfolio 2022 v1.0FInnomantra - Create the Future - Product Portfolio 2022 v1.0F
Innomantra - Create the Future - Product Portfolio 2022 v1.0F
 
Innomantra - Create The Future - Introduction Deck - 2022 v1.0
Innomantra - Create The Future - Introduction Deck - 2022 v1.0Innomantra - Create The Future - Introduction Deck - 2022 v1.0
Innomantra - Create The Future - Introduction Deck - 2022 v1.0
 
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
Innomantra's Viewpoint - Casting Innovation Leadership in Future Organisation
 
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for GrowthIET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
IET-KPMG-INNOMANTRA -Reinventing Innovation Design Thinking Way for Growth
 
Celebrating 11 years of innovation
Celebrating 11 years of innovation Celebrating 11 years of innovation
Celebrating 11 years of innovation
 
Innomantra @ 3D Printing World 2021
Innomantra @ 3D Printing World 2021Innomantra @ 3D Printing World 2021
Innomantra @ 3D Printing World 2021
 
Strategic Business Planning for Startups in Post COVID World
Strategic Business Planning for Startups in Post COVID WorldStrategic Business Planning for Startups in Post COVID World
Strategic Business Planning for Startups in Post COVID World
 
Innomantra viewpoint vital sign monitors covid 19 v1.0FF July 2020
Innomantra viewpoint vital sign monitors covid 19  v1.0FF July 2020Innomantra viewpoint vital sign monitors covid 19  v1.0FF July 2020
Innomantra viewpoint vital sign monitors covid 19 v1.0FF July 2020
 
Innomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
Innomantra Viewpoint - Reinvent Cost Innovation for Digital TransformationInnomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
Innomantra Viewpoint - Reinvent Cost Innovation for Digital Transformation
 

Recently uploaded

Risk-Management-presentation for cooperatives
Risk-Management-presentation for cooperativesRisk-Management-presentation for cooperatives
Risk-Management-presentation for cooperatives
bernanbumatay1
 
Credit Management training seminar power point presentation
Credit Management training seminar power point presentationCredit Management training seminar power point presentation
Credit Management training seminar power point presentation
bernanbumatay1
 
innovation in nursing practice, education and management.pptx
innovation in nursing practice, education and management.pptxinnovation in nursing practice, education and management.pptx
innovation in nursing practice, education and management.pptx
TulsiDhidhi1
 
Employment Practices Regulation and Multinational Corporations
Employment PracticesRegulation and Multinational CorporationsEmployment PracticesRegulation and Multinational Corporations
Employment Practices Regulation and Multinational Corporations
RoopaTemkar
 
All the Small Things - XP2024 Bolzano/Bozen
All the Small Things - XP2024 Bolzano/BozenAll the Small Things - XP2024 Bolzano/Bozen
All the Small Things - XP2024 Bolzano/Bozen
Alberto Brandolini
 
Integrity in leadership builds trust by ensuring consistency between words an...
Integrity in leadership builds trust by ensuring consistency between words an...Integrity in leadership builds trust by ensuring consistency between words an...
Integrity in leadership builds trust by ensuring consistency between words an...
Ram V Chary
 
12 steps to transform your organization into the agile org you deserve
12 steps to transform your organization into the agile org you deserve12 steps to transform your organization into the agile org you deserve
12 steps to transform your organization into the agile org you deserve
Pierre E. NEIS
 
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
William (Bill) H. Bender, FCSI
 
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
tdt5v4b
 
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Dr. Nazrul Islam
 
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
tdt5v4b
 
Stuart Wilson the teams I have led - 2024
Stuart Wilson the teams I have led - 2024Stuart Wilson the teams I have led - 2024
Stuart Wilson the teams I have led - 2024
stuwilson.co.uk
 
Strategy for E-Types - Strategy Formulation.pptx
Strategy for E-Types - Strategy Formulation.pptxStrategy for E-Types - Strategy Formulation.pptx
Strategy for E-Types - Strategy Formulation.pptx
KarthikRaghu8
 
Addiction to Winning Across Diverse Populations.pdf
Addiction to Winning Across Diverse Populations.pdfAddiction to Winning Across Diverse Populations.pdf
Addiction to Winning Across Diverse Populations.pdf
Bill641377
 
Comparing Stability and Sustainability in Agile Systems
Comparing Stability and Sustainability in Agile SystemsComparing Stability and Sustainability in Agile Systems
Comparing Stability and Sustainability in Agile Systems
Rob Healy
 
Credit-Management seminar for cooperative power point presentation
Credit-Management seminar for cooperative power point presentationCredit-Management seminar for cooperative power point presentation
Credit-Management seminar for cooperative power point presentation
bernanbumatay1
 
20240608 QFM019 Engineering Leadership Reading List May 2024
20240608 QFM019 Engineering Leadership Reading List May 202420240608 QFM019 Engineering Leadership Reading List May 2024
20240608 QFM019 Engineering Leadership Reading List May 2024
Matthew Sinclair
 
Ganpati Kumar Choudhary Indian Ethos PPT.pptx
Ganpati Kumar Choudhary Indian Ethos PPT.pptxGanpati Kumar Choudhary Indian Ethos PPT.pptx
Ganpati Kumar Choudhary Indian Ethos PPT.pptx
GanpatiKumarChoudhar
 
The Management Guide: From Projects to Portfolio
The Management Guide: From Projects to PortfolioThe Management Guide: From Projects to Portfolio
The Management Guide: From Projects to Portfolio
Ahmed AbdelMoneim
 
Conflict resololution,role of hr in resolution
Conflict resololution,role of hr in resolutionConflict resololution,role of hr in resolution
Conflict resololution,role of hr in resolution
Dr. Christine Ngari ,Ph.D (HRM)
 

Recently uploaded (20)

Risk-Management-presentation for cooperatives
Risk-Management-presentation for cooperativesRisk-Management-presentation for cooperatives
Risk-Management-presentation for cooperatives
 
Credit Management training seminar power point presentation
Credit Management training seminar power point presentationCredit Management training seminar power point presentation
Credit Management training seminar power point presentation
 
innovation in nursing practice, education and management.pptx
innovation in nursing practice, education and management.pptxinnovation in nursing practice, education and management.pptx
innovation in nursing practice, education and management.pptx
 
Employment Practices Regulation and Multinational Corporations
Employment PracticesRegulation and Multinational CorporationsEmployment PracticesRegulation and Multinational Corporations
Employment Practices Regulation and Multinational Corporations
 
All the Small Things - XP2024 Bolzano/Bozen
All the Small Things - XP2024 Bolzano/BozenAll the Small Things - XP2024 Bolzano/Bozen
All the Small Things - XP2024 Bolzano/Bozen
 
Integrity in leadership builds trust by ensuring consistency between words an...
Integrity in leadership builds trust by ensuring consistency between words an...Integrity in leadership builds trust by ensuring consistency between words an...
Integrity in leadership builds trust by ensuring consistency between words an...
 
12 steps to transform your organization into the agile org you deserve
12 steps to transform your organization into the agile org you deserve12 steps to transform your organization into the agile org you deserve
12 steps to transform your organization into the agile org you deserve
 
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
W.H.Bender Quote 66 - ServPoints Sequence of Service™ should be Identified fo...
 
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
原版制作(CDU毕业证书)查尔斯达尔文大学毕业证PDF成绩单一模一样
 
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...
 
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
在线办理(Murdoch毕业证书)莫道克大学毕业证电子版成绩单一模一样
 
Stuart Wilson the teams I have led - 2024
Stuart Wilson the teams I have led - 2024Stuart Wilson the teams I have led - 2024
Stuart Wilson the teams I have led - 2024
 
Strategy for E-Types - Strategy Formulation.pptx
Strategy for E-Types - Strategy Formulation.pptxStrategy for E-Types - Strategy Formulation.pptx
Strategy for E-Types - Strategy Formulation.pptx
 
Addiction to Winning Across Diverse Populations.pdf
Addiction to Winning Across Diverse Populations.pdfAddiction to Winning Across Diverse Populations.pdf
Addiction to Winning Across Diverse Populations.pdf
 
Comparing Stability and Sustainability in Agile Systems
Comparing Stability and Sustainability in Agile SystemsComparing Stability and Sustainability in Agile Systems
Comparing Stability and Sustainability in Agile Systems
 
Credit-Management seminar for cooperative power point presentation
Credit-Management seminar for cooperative power point presentationCredit-Management seminar for cooperative power point presentation
Credit-Management seminar for cooperative power point presentation
 
20240608 QFM019 Engineering Leadership Reading List May 2024
20240608 QFM019 Engineering Leadership Reading List May 202420240608 QFM019 Engineering Leadership Reading List May 2024
20240608 QFM019 Engineering Leadership Reading List May 2024
 
Ganpati Kumar Choudhary Indian Ethos PPT.pptx
Ganpati Kumar Choudhary Indian Ethos PPT.pptxGanpati Kumar Choudhary Indian Ethos PPT.pptx
Ganpati Kumar Choudhary Indian Ethos PPT.pptx
 
The Management Guide: From Projects to Portfolio
The Management Guide: From Projects to PortfolioThe Management Guide: From Projects to Portfolio
The Management Guide: From Projects to Portfolio
 
Conflict resololution,role of hr in resolution
Conflict resololution,role of hr in resolutionConflict resololution,role of hr in resolution
Conflict resololution,role of hr in resolution
 

Innomantra Viewpoint - Getting Bold innovation Right v1.0

  • 1. Volume 23 | Issue 1 Oct - Nov 2021 “To facilitate the implementation of innovation and identify innovators, what is vital is creating a path by removing the blockers and providing the ecosystem”. - Alexander Osterwalder Getting ‘BOLD INNOVATION’ Right By Neelima Joseph & Lokesh Venkataswamy Supporting System 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: To deep-dive into one of the most widely used tools for business model generation, the business model canvas for designing and testing the business ideas, a framework to evaluate the critical building blocks or enablers that make up a company existing business model or develop a new business model that one envisions to create. It consists of following nine building blocks or enablers; 1.Customer Segments 2.Customer Relationships 3.Channels 4.Value propositions 5.Key Partners 6.Key Activities 7.Key Resources 8.Cost Structure 9.Revenue Streams 1. Resources 2. Competence 3. Awareness 4. Communication 5. Documented Information 6. Tools And Methods 7. Strategic Intelligence Management 8. Intellectual Property Management Viewpoint Page 1
  • 2. that allow to describe or design every business model one can envisage, the ultimate possibilities, and thousands of alternatives. The uniqueness of the business model is identifying the possible pieces that fit into the nine building blocks and how each can leverage and get the job done to create a value proposition to the different customer segments through various channels as touchpoints from a competitive advantage standpoint. Strategy to Execution The business canvas allows one to sketch out to deliver value considering key elements. The essential resources are the assets needed to provide the required infrastructure, the critical activities involved, and the key partnerships required to leverage the business model. And finally, the cost structure that makes the business model work and the revenue streams from how and through which pricing mechanisms the Business Model is capturing value. So, the entire business model is captured in a single image to see the future picture by reflecting on those nine building blocks. Concerning innovation management, the tool Business Model evaluates, addresses the gap, tests the hypothesis, and optimizes the idea. The blue ocean strategy introduced by W.C. Kim and R. Mauborgne about navigating in the blue waters for a next business idea and dominating a market for years to come, starting to focus on the frustrations of customers outside of the current market space as to why they don’t like or use your existing product/service. Then look at existing products or services within the market and try to figure out four things that could be eliminated, reduced, raised, incorporated to create something new and attract infrequent or absent customers by pulling these four levers gradually to develop a product that defies the status quo and create a new product category that will dominate. So, the focus is on making the competition irrelevant rather than on how to beat the competition. With the above tools, the organization could establish an approach for determining, developing, and managing competencies to manage innovation activities, identify insights and opportunities, create ideas and concepts, design, validate concepts, `and develop and deploy solutions to realize value. Enabling that people involved in the innovation activities know the vision, strategy, policy, and objectives. The specification for all internal and external communications shall be considered within the innovation management system. The standard ISO 56002 also requires the organization’s innovation management system to include documented information based on the standard's suggestions and the organization's criteria. In addition, provide necessary tools and methods, internal processes to manage strategic intelligence and intellectual property. How easy things would have been if we knew if a certain, idea works or not? Well, thanks to processes where an idea can be tested and help us have an intelligent failure according to Rita McGrath, Innovation thought leader and Professor at Harvard business school, failing productively into the foray of unknowns with full of uncertainties. So, this concept provides a tolerance of failure that translates into wider variety of experiences, trying more things, contributing to the chances of discovering something new. Secondly, it can also be applied to leaders who are open to shifting abilities and willing to try new things, thus opening doors for new leaders. Finally, early failures and small bets can sometimes help determine when it is impossible to pursue a common point of action. Viewpoint Create the Future “Organizations have habits. And they will cling to their habits at the expense sometimes of their own survival”. -Rita McGrath Page 2
  • 3. Idea to Reality A well-known process is the lean startup changes everything by Steve Blank, an American entrepreneur and educator say’s turning the conventional wisdom about entrepreneurship and the fallacy of the perfect business plan, consisting of three key principles; the first is the business model canvass. Leaders except that it is a series of untested hypotheses, so it is about testing instead of writing an intricate business plan. 1. Identify the user/customer to test hypotheses by reaching out to the potential users, purchasers, and partners for feedback on all business model elements; the emphasis is on nimbleness and speeds new ventures rapidly assemble Minimum Viable products and immediately elicit customer feedback. 2. Using those customer's insights to test, tweak and iterate the offerings hand in hand with customer problems. 3. Agile development is about co-creating with customer; unlike typical product development methods that presuppose knowledge of customers problems and product needs, agile development eliminates un-productive time and resources by developing the product iteratively and incrementally it's the process by which startups create the Minimum Viable Product that is passing to the test. All these favors experimentation and iterative design make the process of starting a company less risky. Closely related to the above approach is such as ‘Design Thinking’, it is to visualize by taking a vision of the future and creating a space that allows people to live into that future. The premise of this strategy is to inspire people and bring their designer mindset or artists in them and help them in a much more systematic way to be creative—a missing toolkit from the business world that supplemented traditional analytical tools that optimized for uncertainty. The element ‘Processes’ is about the requirements relevant to the planning, implementing, and controlling of the innovation initiatives and processes. To conclude the operation is the 'DO' part of the Plan Do Check Act (PDCA) cycle with a right support system. The included sub-clauses are: • Operational Planning and Control • Innovation Initiatives • Innovation Process ********** Page 3 “The greatest risk is not the development of new products, but the development of new customers and markets”. -Steve Blank Viewpoint Create the Future
  • 4. Authors Neelima Joseph Professional Innovation Management Specialist, Sweden Lokesh Venkataswamy Design Thinker, CEO & Managing Director, India About Innomantra Innomantra is a leading Digital, Innovation, and Intellectual property management consulting and services firm. It helps organizations to design and achieve their digital strategy from idea to implementation, Innovation Management Systems, and Intellectual property goals by enhancing culture for amplified efficiency and exponential growth.Innovation3x and Discover Design Thinking describe the philosophy which it believes in, that innovative organizations must identify innovation goals that seek to achieve a 3x and beyond to boost their performance. Innomantra's signature three-fold approach to innovation that looks at overall business strategy, people, and functional systems in a digital ecosystem is globally recognized. Innomantra has a wide range of 50+ clients range from small and medium businesses to Fortune Global 500 organizations. It has a strategic alliance with global leaders in Digital and Innovation. Innomantra is headquartered in Bengaluru, India, and has a global presence. Innomantra Consulting Private Limited Level 9, Raheja Towers Mahatma Gandhi Road, Bengaluru - 560 001, India Mobile: +91 98452 72555 +91 080 41253444 contact@innomantra.com www.innomantra.com Bangalore / Mysore / Colombo / Chicago / Hong Kong / Troy / Zurich 2021© Innomantra Consulting Private Limi Page 4 Viewpoint Create the Future