This document discusses innovation in the age of disruption and black swan events. It argues that while foresight and scenario planning are important for guiding long-term strategy, organizations must also be agile and able to change pathways in response to new events. The definition of innovation is broadened to include value creation through new products, services, and business models, not just R&D and technology. Examples are provided of companies that exemplify different types of innovation, from startups to large firms pursuing incremental and disruptive innovation.
Five ways to boost the impact of new endeavors without adding bureaucracy or cost. For more on innovation from s+b, visit: http://www.strategy-business.com/innovation
Iterating an Innovation Model: Challenges and Opportunities in Adapting Accel...juliahaines
Startup accelerators have expanded worldwide in recent years, fostering the development of technology startups and spreading Lean practices and Silicon Valley values to all corners of the globe. These accelerators clearly create value—for the teams whose development they foster, the products they create, and the larger ecosystems they build. But there are also a number of challenges arising from the model and how it is implemented in different contexts globally. Through fieldwork at accelerators in Singapore and Buenos Aires, I investigate the global expansion of this innovation model. In this paper, I discuss the most salient challenges and discuss potential opportunities emerging from these challenges, and how other methods and practices such as design thinking, intensive user research and flexible, bottom up-approaches can add value to the accelerator process. I also highlight mutually beneficial ways the EPIC community can become more involved in startups ecosystems.
This is a paper published in the proceedings of the 2014 Ethnographic Praxis in Industry Conference (EPIC).
The taste of innovation build-10 x-valuefactory-90days-master-program-brochureFlevum
Brochure The Taste of Innovation | Beyond Performance Experience
How to build your 10x-ValueFactory in 90 days (introduction)
We leven in opwindende tijden - waarin de manier waarop we met elkaar werken sterk aan het veranderen is, waarin de focus naast presteren, veel meer is gaan liggen op de mens. Leiders zijn zich meer en meer bewust dat als het hun mensen goed gaat, het ook goed gaat met de organisatie.
Uitspraken binnen deze context zijn gedaan door:
Wendy Woods - Sr. Partner Boston Consulting Group: “Smart, committed people. They are our most precious and powerful resource. And many of the innovations that people have created recently enable even more people to contribute in even more substantial ways. That’s a significant part of why I’m so optimistic about our future.”
Ed Catmull - Co-founder Pixar: “Talent is rare. Management’s job is not to prevent risk but to build the capability to recover when failures occur.”
Of denk aan het “Growth Manifesto” initiatief van Neville Isdel (Coca-Cola) hoe terug te gaan naar “living our values”, hoe beter samen te werken en mensen te ontwikkelen om ultieme prestatie mogelijk te maken.
Bovenstaande voorbeelden schijnen hun licht over desastreuze focus op alleen presteren bij bedrijven zoals Enron, Lehman Brothers, Atari, Kodak …
Het feit dat klanten producten en/of diensten afnemen geeft aan dat er waarde wordt toegevoegd. De vraag is:
Welke waarde gaat morgen - onbewust ? - gewenst worden?
Wanneer is morgen?
Hoe maken wij contact met morgen?
Hoe creëert u uw eigen WaardeFabriek die antwoorden geeft op deze vragen?
Uw eigen WaardeFabriek?
DeWaardeFabriek gunt iedere organisatie haar eigen WaardeFabriek, waarin het gezamenlijk op zoek gaan naar EN het realiseren van de waarde voor morgen centraal staat.
Samen met DeWaardeFabriek laten wij u tijdens deze bijeenkomst proeven van de elementen die uw eigen WaardeFabriek succesvol maken. Deze elementen in deze bijeenkomst vormen onderdeel van een master-programma “How to build your 10x-ValueFactory in 90 days” dat speciaal voor Flevum-leden in januari 2016 van start gaat.
Na afloop van deze bijeenkomst gaat u naar huis met praktische inzichten die u direct in de praktijk kunt brengen.
Dit programma wordt inmiddels met succes toegepast bij o.a.:
TATA Steel
Stork
SPIE
World Class Maintenance
Collaboration in R&D The Emerging Frontiers Of InnovationJose Claudio Terra
The paper examines the growing diversity of sources and the global possibilities for research and development. It reviews the international experience of collaborative innovation in corporations, universities and the public sector.
Cognizant CIO Mark Greenlaw discusses strategies for leading a "virtual" IT workforce that is spread across 12 countries in 4 continents.He presented at the Boston Society for Information Management.
Five ways to boost the impact of new endeavors without adding bureaucracy or cost. For more on innovation from s+b, visit: http://www.strategy-business.com/innovation
Iterating an Innovation Model: Challenges and Opportunities in Adapting Accel...juliahaines
Startup accelerators have expanded worldwide in recent years, fostering the development of technology startups and spreading Lean practices and Silicon Valley values to all corners of the globe. These accelerators clearly create value—for the teams whose development they foster, the products they create, and the larger ecosystems they build. But there are also a number of challenges arising from the model and how it is implemented in different contexts globally. Through fieldwork at accelerators in Singapore and Buenos Aires, I investigate the global expansion of this innovation model. In this paper, I discuss the most salient challenges and discuss potential opportunities emerging from these challenges, and how other methods and practices such as design thinking, intensive user research and flexible, bottom up-approaches can add value to the accelerator process. I also highlight mutually beneficial ways the EPIC community can become more involved in startups ecosystems.
This is a paper published in the proceedings of the 2014 Ethnographic Praxis in Industry Conference (EPIC).
The taste of innovation build-10 x-valuefactory-90days-master-program-brochureFlevum
Brochure The Taste of Innovation | Beyond Performance Experience
How to build your 10x-ValueFactory in 90 days (introduction)
We leven in opwindende tijden - waarin de manier waarop we met elkaar werken sterk aan het veranderen is, waarin de focus naast presteren, veel meer is gaan liggen op de mens. Leiders zijn zich meer en meer bewust dat als het hun mensen goed gaat, het ook goed gaat met de organisatie.
Uitspraken binnen deze context zijn gedaan door:
Wendy Woods - Sr. Partner Boston Consulting Group: “Smart, committed people. They are our most precious and powerful resource. And many of the innovations that people have created recently enable even more people to contribute in even more substantial ways. That’s a significant part of why I’m so optimistic about our future.”
Ed Catmull - Co-founder Pixar: “Talent is rare. Management’s job is not to prevent risk but to build the capability to recover when failures occur.”
Of denk aan het “Growth Manifesto” initiatief van Neville Isdel (Coca-Cola) hoe terug te gaan naar “living our values”, hoe beter samen te werken en mensen te ontwikkelen om ultieme prestatie mogelijk te maken.
Bovenstaande voorbeelden schijnen hun licht over desastreuze focus op alleen presteren bij bedrijven zoals Enron, Lehman Brothers, Atari, Kodak …
Het feit dat klanten producten en/of diensten afnemen geeft aan dat er waarde wordt toegevoegd. De vraag is:
Welke waarde gaat morgen - onbewust ? - gewenst worden?
Wanneer is morgen?
Hoe maken wij contact met morgen?
Hoe creëert u uw eigen WaardeFabriek die antwoorden geeft op deze vragen?
Uw eigen WaardeFabriek?
DeWaardeFabriek gunt iedere organisatie haar eigen WaardeFabriek, waarin het gezamenlijk op zoek gaan naar EN het realiseren van de waarde voor morgen centraal staat.
Samen met DeWaardeFabriek laten wij u tijdens deze bijeenkomst proeven van de elementen die uw eigen WaardeFabriek succesvol maken. Deze elementen in deze bijeenkomst vormen onderdeel van een master-programma “How to build your 10x-ValueFactory in 90 days” dat speciaal voor Flevum-leden in januari 2016 van start gaat.
Na afloop van deze bijeenkomst gaat u naar huis met praktische inzichten die u direct in de praktijk kunt brengen.
Dit programma wordt inmiddels met succes toegepast bij o.a.:
TATA Steel
Stork
SPIE
World Class Maintenance
Collaboration in R&D The Emerging Frontiers Of InnovationJose Claudio Terra
The paper examines the growing diversity of sources and the global possibilities for research and development. It reviews the international experience of collaborative innovation in corporations, universities and the public sector.
Cognizant CIO Mark Greenlaw discusses strategies for leading a "virtual" IT workforce that is spread across 12 countries in 4 continents.He presented at the Boston Society for Information Management.
Informatics Platforms for Biologics R&D: 5 Key Capabilities to Look ForRoger Pellegrini
Platforms that are effective for biologics R&D must be built from the ground up to address the unique nature of biologics. Learn the five critical capabilities to look for when evaluating an informatics platform for biologics R&D.
The very nature of work, the way we work and where we work is changing. Businesses are reducing real estate, maximising the use of the space they have, increasing work from home and expecting their employees to adopt new practices from hot desking to unified communications. The need to collaborate with colleagues has never been greater, the pace of business has never been faster, and the pressures to be more productive are ever increasing. This white paper explores the drivers, need for change and case studies behind the technology solutions that are being deployed today to deliver collaborative solutions that fundamentally and permanently change the way we work.
Work 2028: Trends, Dilemmas and OpportunitiesMarc Wagner
How will we work in 2028? What effects do digitization and AI have on our work and our lives? How will management take place in ten years and how will companies have changed? Detecon investigated these and other questions together with Deutsche Telekom and Henley Business School. The results were summarised in the comprehensive study "Work 2028 - Trends, Dilemmas and Opportunities". The survey included 50 influential leaders from a wide variety of industries and sectors in various countries.
Does Your Company Have an Innovation Strategy? What every Board Member should know.
In light of the changing competitive landscapes, the role of the Board in directing strategy and ensuring long term value growth and marketplace relevance has never been more important.
Entrepreneurs are not intrapreneurs. And, intrapreneurs are not entrepreneurs.
They do differ things and need different skills.
Successful intrapreneurs need to manage the inevitable tension between the scale provided by existing products and the change required for new products. Entrepreneurs so not have this tension.
In short, Intrapreneurs know how to let be tigers be tigers while while teaching them to do new tricks.
This presentation will provide a framework for the personal skills that are needed to be an successful intrapreneur and compare these skills with those of a successful entrepreneur.
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
This is a video that I have made in order to try and obtain a one year work placement at the innovation company ?What If!. I got the idea to do this from the "Where the hell is Matt?" YouTube videos. It took a whole day to film and a lot of tubes but I think it's worth it. A lot of thanks has to go to Jamie Proctor for directing and filming the whole project. Hope you enjoy!
Change Starts Here: Building a Culture of InnovationMindjet
Company culture is not always considered a priority, but it certainly should be. And, if a business wants to promote innovation from within -- after all, great people are the best assets an organization can have -- it's vital that leaders and decision-makers place a strong focus on developing environments that cater to intrapreneurs, crowdsourcing, and surfacing great ideas.
Check out our latest SlideShare for more information on how to strategically foster a stronger, more engaging, more innovative company culture.
Informatics Platforms for Biologics R&D: 5 Key Capabilities to Look ForRoger Pellegrini
Platforms that are effective for biologics R&D must be built from the ground up to address the unique nature of biologics. Learn the five critical capabilities to look for when evaluating an informatics platform for biologics R&D.
The very nature of work, the way we work and where we work is changing. Businesses are reducing real estate, maximising the use of the space they have, increasing work from home and expecting their employees to adopt new practices from hot desking to unified communications. The need to collaborate with colleagues has never been greater, the pace of business has never been faster, and the pressures to be more productive are ever increasing. This white paper explores the drivers, need for change and case studies behind the technology solutions that are being deployed today to deliver collaborative solutions that fundamentally and permanently change the way we work.
Work 2028: Trends, Dilemmas and OpportunitiesMarc Wagner
How will we work in 2028? What effects do digitization and AI have on our work and our lives? How will management take place in ten years and how will companies have changed? Detecon investigated these and other questions together with Deutsche Telekom and Henley Business School. The results were summarised in the comprehensive study "Work 2028 - Trends, Dilemmas and Opportunities". The survey included 50 influential leaders from a wide variety of industries and sectors in various countries.
Does Your Company Have an Innovation Strategy? What every Board Member should know.
In light of the changing competitive landscapes, the role of the Board in directing strategy and ensuring long term value growth and marketplace relevance has never been more important.
Entrepreneurs are not intrapreneurs. And, intrapreneurs are not entrepreneurs.
They do differ things and need different skills.
Successful intrapreneurs need to manage the inevitable tension between the scale provided by existing products and the change required for new products. Entrepreneurs so not have this tension.
In short, Intrapreneurs know how to let be tigers be tigers while while teaching them to do new tricks.
This presentation will provide a framework for the personal skills that are needed to be an successful intrapreneur and compare these skills with those of a successful entrepreneur.
Innovation is the glue between invention and investment, and transforms ideas into businesses. The process of innovation shapes your idea into something people will value and ultimately purchase.
The innovation process cycles through 4 key steps:
1) Ideas and Solutions
2) Business propositions
3) Business feasibility
4) Business planning
This is a video that I have made in order to try and obtain a one year work placement at the innovation company ?What If!. I got the idea to do this from the "Where the hell is Matt?" YouTube videos. It took a whole day to film and a lot of tubes but I think it's worth it. A lot of thanks has to go to Jamie Proctor for directing and filming the whole project. Hope you enjoy!
Change Starts Here: Building a Culture of InnovationMindjet
Company culture is not always considered a priority, but it certainly should be. And, if a business wants to promote innovation from within -- after all, great people are the best assets an organization can have -- it's vital that leaders and decision-makers place a strong focus on developing environments that cater to intrapreneurs, crowdsourcing, and surfacing great ideas.
Check out our latest SlideShare for more information on how to strategically foster a stronger, more engaging, more innovative company culture.
Social innovation refers to new strategies, concepts, ideas, and organizations that extend and strengthen civil society or meet societal needs of all kinds—from working conditions and education to community development and health.
A Benchmark for Open Innovation: How Good is Your Company?Stefan Lindegaard
In this presentation, I share my benchmark views on how open innovation in general has been adapted over the years. The benchmark is based on my free e-book, 7 Steps for Open Innovation.
This visual innovative workbook allows you to follow along with the Innovation Step-by-Step book and Innovation Learning workshops & online programs to develop your own big ideas with our innovation process. See more at innovationtraining.org or innovationlearning.org.
Which Innovation strategy should my company pursue? James Janega
Look through the WINDOW: "Which INnovation DO I Want?" Driven by research and grounded in reality, it helps frame productive questions about your approach.
DavidNetflix is facing several challenges in their current bus.docxsimonithomas47935
David
Netflix is facing several challenges in their current business model, such as: Increased competition; higher operating costs; loss of customers; poor management decisions; falling stock values; and global expansion (Allen, Disbrow, & Feils, 2014). Disruptive innovation initially had a positive effect on Netflix; evidenced by their fast growth, and rapidly increasing stock value (Allen, Disbrow, & Feils, 2014). However, as they began to switch to a more traditional business model (i.e. expand into global markets, and increase prices), at the same time that other companies began using disruptive innovation to compete with them, disruptive innovation had a negative effect on Netflix; evidenced by the loss of sales, and plummeting stock values (Allen, Disbrow, & Feils, 2014)
Disruptive innovation typically benefits the disruptive business and the consumer. A company that utilizes a disruptive business model has a significantly higher (10 times) chance of being successful than a traditional business, as a disruptive model concentrates on consumers that the traditional business typically ignores (Maldonado, 2014) by providing product/services that are less expensive,m and not quite as robust, to those who typically could not afford products/services offered by larger corporations. Conversely, disruptive innovation negatively affects established organizations by taking away revenue. While the disruptive company starts by targeting consumers that the established company does not pursue (Christensen, Johnson, & Rigby, 2002), eventually other consumers will forego the higher prices of the established company, and take advantage of the lower cost product/service of the disruptive company, even though they may have to sacrifice a level of quality to do so (Maldonado, 2014).
Netflix is pretty well established in the market; and it has two choices for the future. It can choose to pursue a traditional business model, and continue it's ”grow at any cost” strategy, in which case it would more than likely have poor growth in the future (Allen, Disbrow, & Feils, 2014); or it can reinvent itself as a disruptive organization, and find new and emerging markets to pursue. If Netflix pursues a disruptive strategy, then they will need to follow Christensen's model for doing so. They need to develop a model that passes Christensen's litmus tests: Does it target customers who do not use current products because they are too costly or complex; are the target customers willing to use a simpler product; and will the product/service be easier for the customer to use (Christensen, Johnson, & Rigby, 2002)?
Netflix will need to also ensure they have the resources necessary to implement their new disruptive strategy (Christensen, Johnson, & Rigby, 2002). They will need funds, and managers who understand, and have skills in, implementing disruptive strategies; and they will need to ensure that their processes and procedures are such that they allow the disruptive stra.
Openness to new ideas, freedom from investigation of operation, and promotion and pay based on merit encourage entrepreneurship.
Excessive regulation, rigid hierarchy, lack of freedom, and excess control discourage entrepreneurship.
Agility: a whitepaper from LRN LAB by innogy Consultinginnogy Consulting
Agility means going against the grain of traditional business to develop a new understanding of leadership and management in the digital era. Read how LRNLAB and innogyConsulting view this inevitable shift in organizational structure.
1. December 2011
industry insights
Innovating Innovation:
Innovation in the age of
disruption and Black swans
23
2. December 2011
industry insights
In an era where change occurs in the blink of an eye, between using the foresight information to resulting in a positive impact to the economy,
investments into foresight and scenarios planning drive long term strategy yet be sensitive to the business, public service delivery system, social
are important to guide organizations develop emergence and impact of disruptive innovations well-being or the environment”.
strategies for future investments. However equally and black swans at the same time. Organizations
important are how these strategies are translated need to be dexterous enough to deviate from With so many de nitions oating around, it is
into action and the willingness of the organization the charted course and redirect resources to understandable that there is much confusion
to change pathways with the emergence of new more valuable projects. Secondly, organizations on what is innovation exactly. e OECD has
events or circumstances. should explore more e ective strategies towards also de ned innovation in four areas - product
creating innovations; this may range from strategic innovation, process innovation (a markedly
In late July 2011, oodwaters drowned a third of collaborations with external parties or tapping improved production or delivery method),
ailand causing billions of dollars in damage, on channels for open innovation. Organizations marketing innovation (involves a new marketing
pu ing 14,000 factories underwater and nearly would doubly bene t from such activities from a method involving signi cant changes in product
700,000 people temporarily out of work. Toyota, nancial and risk management perspective. On design or packaging, product placement, promotion
Honda and Western Digital are only a few of the the upside, organizations need to explore how the or pricing) and organizational innovation (involves
giants that had to suspend their operations in disruptive situations may be used to their own introducing a new organizational method in the
ailand. How would any foresight or scenarios advantage. In short we need to look at how we de ne rm’s business practices, workplace organization
planning session have predicted this disaster? If innovation and more importantly, how we approach or external relations). According to Figure B,
this were your predicament, how agile is your innovation. Malaysian companies are already practicing these
organization in exploring new strategies and how various types of innovation; however the majority
well would you be able to implement them? focused much more on incremental innovation with
a sma ering few that practiced radical innovation.
In the 2010 Malaysian Innovation Climate Survey
Report, which collated views from employees in In the era of disruptive innovation and black swans,
organizations, many Malaysians viewed innovation organizations need to broaden the de nition of
Clayton Christensen in his book e Innovator’s as strongly related to creativity, R&D and technology, innovation and not limit themselves to R&D, patents
Dilemma made famous the concept of disruptive and least associated it with risk and processes as and technology, but to focus more on value creation.
innovation, where the introduction of a new shown in Figure A. In fact many current incentives We believe that innovation should be de ned as “the
24 technology or business model disrupts the and innovation initiatives are strongly tied to R&D, introduction of new products, services, processes,
traditional market practices. is is the space where science and technology and less on processes, technologies, business models or management
CDs replaced the 3-inch oppy disk drives but are services and business models. practices that have created signi cant value
now on the endangered list themselves due to the
emergence of mega-thumb drives/ ash drives. Figure
8. with
Digital photography has also practically caused the 0% 20% 40% 60% 80%
extinction of the 35mm lm rolls. In more recent
75%
times, Skype disrupted revenues of many traditional
telecommunication companies as consumers were 45%
able to communicate globally at a fraction of the 40%
cost.
36%
Black swans, also cause disruption and the causative 19%
factor may be an environmental, economic, political, 18%
societal or a technological event. ‘Black Swan’ was
15%
a term made popular by Nassim Nicholas Taleb, a
nance professor and former Wall Street trader, and 15%
it referred to an event or occurrence that deviates 15%
beyond what is normally expected of a situation
11%
or one that would be extremely di cult to predict
and commonly has an extreme impact. Situations 10%
like the oods in ailand and its ensuing e ect on
the automotive, electronics and food supply chain When we look at de nitions, the US Advisory ( nancial/non- nancial) for an organization.” At
in Asia; the earthquake in Japan and its impact on Commi ee on Measuring Innovation in the the end of it all, organizations need to innovate the
the Nuclear Power Generation industry; even the Twenty-First Century Economy describes way that they approach innovation.
political unrests and protest in the Middle East and innovation as “the design, invention, development
North Africa with its impact on oil prices would and/or implementation of new or altered products,
encompass black swans. organizational structures, or business models for
the purpose of creating new value for customers Our analysis reveals three distinct approaches
e combination of these events and circumstances and nancial returns for the rm.” Malaysia’s own towards innovation; 1.0 which is predominantly
has enormous implications on organizations. Not Innovation Bill 2010 de nes innovation as “any idea driven by the lone inventor or technopreneur,
to undermine the role that foresight and scenarios or knowledge in whatever form which brings about producing products with very limited resources.
planning play, organizations, we feel must balance changes in the form of product, service or process, Innovation 2.0 on the other hand has a large budget,
9. December 2011
industry insights
is driven frequently by an R&D team over a long period of time resulting in patents or IP production.
en there is Innovation 3.0, which is strongly market driven while li ered with constraints. Innovation
27. 75% 100%
50% Product
(Physical)
25% mines, this was a revolution. While prosthesis
0% Services
for a similar level of amputation can cost several
>1000 Design thousand dollars in the U.S., the Jaipur Foot costs
only US$28. Currently the technology is adopted
Internal
Process within many land-mine li ered countries. In
(Operational
200-10000 Innovation) Cambodia, part of the foot’s rubber components
Sales & is scavenged from truck tires. In Afghanistan,
Marketing
cra smen hammer the foot together out of spent
<200 Business artillery shells.
Model
(USA) - Apple, which started life as Apple
Business
30. Model Computer, Inc. has evolved to become the most
Process Marketing
Design valuable technology company in the world. Apple
Service
Product was awarded a mere 563 patents in 2010 while
IBM and Microso were awarded 5896 and 3094
patents, respectively, in the same year ( e Irish
3.0 is frequently inspired by organizational leaders developer, which was initiated in 2003 by three Times, January 12, 2011).
who create a strong innovation culture and mindset students from Helsinki University of Technology
within the organization. e Innovation 3.0 who went on to create Angry Birds in 2009. Angry (Malaysia) - A limited service chain
approach also regularly utilizes the web and open Birds is a puzzle video game which as of March of hotels, modeled a er the low cost carrier, 25
innovation. 2011, had been downloaded over 100 million times. AirAsia. It limits many traditional hospitality
is game has been called the largest mobile app services, leases hotel space to retailers and rents
Numerous countries have many incentives success the world has seen so far. Resulting from this out advertising space within the hotel (in the
surrounding Innovation 1.0 (grants for start- success, in March 2011 Rovio raised US$42 million hallway, in the rooms, at room keys, toilets etc.).
ups and technoprenuers) and Innovation 2.0 in Venture Capital Funding. Tune Hotel adopts a well-known business model;
(incentives which are targeted towards lab based low cost, no frills concept to a new industry, while
R&D as opposed to ethnography, market study etc). Microso and IBM are excellent examples of leveraging o existing technology.
Large innovative companies however are practicing Innovation 2.0. Since 2002, IBM has spent almost
or need to be performing Innovation 3.0. US$50 billion in R&D and has been the top e common thread among all these examples
producer of patents in the US patent list for 18 is that they are not driven by high technology.
e US, with its strong start-up culture, venture consecutive years! In 2010 alone, IBM was awarded Grameen Bank and the Jaipur Foot were born
capital and angel investor funding and strong 5,896 US patents, the rst time any company has from a necessity, utilizing minimal technology but
IPO market, is a brilliant place for Innovation 1.0 been awarded over 5,000 patents in a single year. resulting in an enormous value creation. Apple,
to ourish. In some cases, the initial investment though technology-based, is far from the leader in
needed is not enormous. Another Innovation 1.0 number of IPs and patents, but utilizes the few that
example is Rovio Mobile, a Finnish computer game they have very well and incorporates a magni cent
combination of design and marketing innovation
into their product and culture.
(Bangladesh) - a micro nance
organization which makes small loans to the In conclusion, in the era of Disruptive Innovation
impoverished without collateral. e idea was and Black Swans, organizations need to be nimble
conceived from the realization that the poor had when it comes to innovation. ey need to go
skills that were underutilized. is group-based beyond investing in traditional R&D or focusing
credit approach uses peer-pressure to ensure on generating patents. Organizations need to look
borrowers comply with repayment schemes. is at acquiring patents or IPs or license these from the
concept, a brainchild of Professor Muhammad smaller setups. Focus more on value creation. Since
Yunus has been duplicated around the world, speed is critical, organizations also needs to tap on
earning him a Nobel Peace Prize in 2006. alternative sources of ideas and leverage on existing
technology to develop fresh angles for business.
(India) - is was rst conceived due e time has come where innovation cannot be
to the unavailability of a ordable foot prosthesis. approached in the traditional manner anymore; we
For the millions who lost their leg due to land all have to innovate the way we innovate!