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1. INNOVATION
T h i s t e m p l a t e c a n b e u s e d f r e e i n a n y c i r c u m s t a n c e

2. What do we mean by INNOVATION?
 As a concept, refers to the process
that an individual or organization
undertakes to conceptualize brand
new products, process and ideas or to
approach existing products, processes
and ideas in new ways.
 a newly introduced practice or
method to improve the current
practice.

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Organization
 A social unit of people that is structured
and managed to meet a need or to
pursue collective goals.
 An organization is an entity comprising
multiple people, such as an institution
or an association that has a collective
goal and is linked to an external
environment.

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Innovation and Invention
 An invention is different from an
innovation at any particular time in that
it doesn’t have commercial value but
it may have in future.
 There is no shortage of idea and
inventions in the world. The challenge is
to introduce these successfully to a
market.
 Only the idea/invention can be called
innovation.
 In other words, innovation requires
interplay between a product offering
(technology) and a market (people).
 Innovation provides better quality
product at lower price which leads to
higher standard of living.
 Old strategies are replicated.

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Why Innovation as Strategy?
 Innovation is the single most
important driver of
competitive success in many
industries.
 Many firms earn over one-
third of sales on products
developed within last five
years (e.g. Apple, ipod, iphone,
ipad, etc.)
 Globalization has increased
competitive pressure

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Why Innovate?
 Product innovation help firms
protect margin by offering new,
differentiated features.
 Process innovations help make
manufacturing more efficient
 Service innovation leads to
higher customer satisfaction
 “Innovation is the only way to
stay ahead of the curve and
change the world.”- Gary
Hamel

7. Types of Innovation

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Product Innovation
 Is the development of new products,
changes in design of established
products, or use of new materials or
components in the manufacture of
established products.
e.g
New Products
New uses for products

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Process Innovation
 Process Innovation generally refers to
the implementation of a new or
significantly improved production or
delivery method.
 A process combines the skills,
technologies and structure that are
used to produce products or provide
services.

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Organizational Innovation
 Is a process that increases your capacity
to thrive in challenging times.
 An idea, a new product, a new method,
a new service, a new process, a new
technology or a new strategy adopted
by an organization. The introduction of
something new to an organization

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Business Model Innovation
 is the development of new, unique
concept supporting an organization’s
financial viability, including its mission
and the process for bringing those
concepts to fruition.
 The primary goal of business model
innovation is to realize new revenue
sources by improving product value and
how products are delivered to
customers.

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Marketing Innovation
 Means developing a new marketing
strategy that produces changes. For
instance, designing, packing and other
decisions regarding price or promotion
of a product.

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Incremental Innovation
 Is a series of small improvement or
upgrades made to a company’s
existing products, services, processes or
methods. The changes implemented
through incremental innovation are
usually focused on improving an
existing product’s development
efficiency, productivity and competitive
differentiation.

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Radical Innovation
 Establishes a new dominant design and
hence a new set of core design
concepts embodied in components that
are linked together in an new
architecture.
 It is about making major changes in
something established. Focus is
significant in relation to expected
changing in the system. A change can
be represent a radical innovation, when
viewed at technological level but the
impact may be only incremental when
viewed at an organization level.

15. Implementation
Process of Innovation

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Step 1. Idea Generation and Mobilization
New ideas are created during
idea generation. Successful
idea generation should involve
the pressure to compete and
the freedom to explore.
Step 3. Experimentation
The experimentation stage tests the sustainability of ideas for an
organization at a specific time. Experimentation generates new ideas with
the information that is gathered on the results and feasibility of the original
idea.
Step 2. Advocacy and
Screening
This help to evaluate the feasibility
of a business idea with its potential
problems and benefits.
PROCESS OF INNOVATION
Step 4. Commercialization
Commercialization develops market
value for an idea by focusing on its
impact. An important part is
establishing the specifications of any
given idea.
Diffusion is the company wide
acceptance of an innovative idea and
implementation sets up everything
needed to develop the innovation.
Step 5. Diffusion and implementation

17. Challenging Assumptions
A Practical Guide to Innovation

18. Challenging Assumptions
is problem solving strategy that involves
testing ideas that are assumed to be true by
an individual, group, institution, society,
science or industry. It is a back to basic
approach that involves tweaking the
fundamental ideas that you hold as a business
or team.

19. Function Problem Solving
Decision Making
Strategy
Overview: Challenging Assumption
Value Invalid assumptions
van be costly as they
are the basis for
decisions and
strategy. Looking at
a problem with new
assumptions may
lead ton a more
creative solution
Common Pitfalls/
Potential Problem
Assumptions are
usually solid and its
often a mistake to
discard them
without careful
consideration.

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EMBRACE DIVERSITY AT
EVERY LEVEL
TRAIN EMPLOYEES TO
RECOGNIZE AND CHALLENGE
ASSUMPTION GET EXTERNAL PERSPECTIVE

21. Thank You!
T H A N K S F O R YO U R WATC H I N G T H A N K S F O R YO U R WATC H I N G