This document outlines an agenda and schedule for a two-day workshop on tools and techniques for innovation. Day one covers introductions, goals of innovation, ideation exercises, innovation portfolios, and barriers to innovation. Day two focuses on reviewing exercises, sources of innovation, leadership, implementation, and an concluding exercise. The workshop is led by Dr. Andrew Maxwell and aims to provide frameworks and processes for generating, evaluating, and implementing innovative ideas.
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.
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 document summarizes a lecture on innovation and innovation management. It discusses the role and types of innovation, including product, process, position, and paradigm innovation. It also covers innovation management, noting it must be understood as a core organizational process and deal with complexity. Innovation depends on factors like the type of firm, its goals of survival, growth and profit. Managing innovation requires being systematic by developing routines. Key aspects include invention, technology, knowledge, uncertainty, and moving ideas from tacit to explicit knowledge.
The Concept of Innovation and Innovation ManagementNadia Lushchak
The document provides an overview of innovation and innovation management. It discusses key concepts such as defining innovation, why innovation matters for companies, different types of innovation, and models of the innovation process. The summary is:
The document defines innovation, discusses its importance for competitive advantage and growth, and outlines different types of innovation including product, process, and business model innovation. It also examines linear and interactive models of innovation and introduces innovation management as turning inventions into innovations for sustained competitive advantage. An extensive outline is then provided on topics such as the concept of innovation, models of innovation, and innovation as a management process.
Topic 3 Developing Entrepreneurial Creativity And Innovationguest81462b
This document discusses developing entrepreneurial creativity and innovation. It defines creativity as unique and novel responses to problems and opportunities. The process of creativity involves knowledge accumulation, incubation, generating ideas, and evaluation/implementation. Barriers to creativity include personal beliefs, fear of criticism, and stress. Innovation is finding new or better goods/services, and types include invention, extension, duplication, and synthesis. Sources of innovation come from unexpected events, new knowledge, demographic changes, and process needs. Barriers to innovation exist at both the organizational and individual level. Creativity and innovation are important for entrepreneurs to ensure survival, explore new markets, and exploit resources. Strategies to encourage them include recognizing ability, changing perceptions, changing culture, and
Creativity and innovation are important for problem solving and business growth. [1] Creativity involves generating new ideas, while innovation is the process of developing and applying creative ideas. [2] For an organization, innovation refers to converting new ideas into useful products, services, or practices. [3] While creativity is needed for innovation, it is not sufficient on its own - innovative ideas must also be applied successfully.
2016 - 1. The concept of Innovation and Innovation Management. The type of in...Nadia Lushchak
The document provides an overview of innovation and innovation management. It defines innovation as the process of turning opportunities into new ideas and implementing them successfully. Innovation is important because it allows companies to adapt, gain competitive advantages, and drive economic growth through "creative destruction." The document also discusses different types of innovation like incremental, radical, and disruptive innovation. It examines historical models of innovation and outlines innovation management as the process of transforming inventions into innovations that achieve sustained competitive advantages. Finally, it discusses core abilities needed to manage innovation and presents an innovation process model.
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.
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 document summarizes a lecture on innovation and innovation management. It discusses the role and types of innovation, including product, process, position, and paradigm innovation. It also covers innovation management, noting it must be understood as a core organizational process and deal with complexity. Innovation depends on factors like the type of firm, its goals of survival, growth and profit. Managing innovation requires being systematic by developing routines. Key aspects include invention, technology, knowledge, uncertainty, and moving ideas from tacit to explicit knowledge.
The Concept of Innovation and Innovation ManagementNadia Lushchak
The document provides an overview of innovation and innovation management. It discusses key concepts such as defining innovation, why innovation matters for companies, different types of innovation, and models of the innovation process. The summary is:
The document defines innovation, discusses its importance for competitive advantage and growth, and outlines different types of innovation including product, process, and business model innovation. It also examines linear and interactive models of innovation and introduces innovation management as turning inventions into innovations for sustained competitive advantage. An extensive outline is then provided on topics such as the concept of innovation, models of innovation, and innovation as a management process.
Topic 3 Developing Entrepreneurial Creativity And Innovationguest81462b
This document discusses developing entrepreneurial creativity and innovation. It defines creativity as unique and novel responses to problems and opportunities. The process of creativity involves knowledge accumulation, incubation, generating ideas, and evaluation/implementation. Barriers to creativity include personal beliefs, fear of criticism, and stress. Innovation is finding new or better goods/services, and types include invention, extension, duplication, and synthesis. Sources of innovation come from unexpected events, new knowledge, demographic changes, and process needs. Barriers to innovation exist at both the organizational and individual level. Creativity and innovation are important for entrepreneurs to ensure survival, explore new markets, and exploit resources. Strategies to encourage them include recognizing ability, changing perceptions, changing culture, and
Creativity and innovation are important for problem solving and business growth. [1] Creativity involves generating new ideas, while innovation is the process of developing and applying creative ideas. [2] For an organization, innovation refers to converting new ideas into useful products, services, or practices. [3] While creativity is needed for innovation, it is not sufficient on its own - innovative ideas must also be applied successfully.
2016 - 1. The concept of Innovation and Innovation Management. The type of in...Nadia Lushchak
The document provides an overview of innovation and innovation management. It defines innovation as the process of turning opportunities into new ideas and implementing them successfully. Innovation is important because it allows companies to adapt, gain competitive advantages, and drive economic growth through "creative destruction." The document also discusses different types of innovation like incremental, radical, and disruptive innovation. It examines historical models of innovation and outlines innovation management as the process of transforming inventions into innovations that achieve sustained competitive advantages. Finally, it discusses core abilities needed to manage innovation and presents an innovation process model.
This document discusses various aspects of entrepreneurship, including the risks and rewards of owning a business, different types of business models like starting your own business, purchasing an existing business, or buying a franchise. It also covers idea generation methods, assessing the feasibility of business ideas, and available resources for small business owners, such as government agencies like the Small Business Administration.
This document discusses innovation, including what it is, why it matters, types of innovation, metrics to measure innovation, and provides a case study of Nestle's innovation with Nespresso.
1) Innovation involves introducing something new that provides value, and can be incremental or radical. Metrics to measure innovation include inputs like resources invested, processes like time to develop ideas, and outputs like new products and sales from new products.
2) The case study describes how Nestle developed its Nespresso business over 20 years through failures, partnerships, focusing on high-end customers, and creating an exclusive club to commercialize single-serve coffee.
3) Key lessons are that innovation takes time,
The document discusses various techniques for creative thinking such as focus groups, brainstorming, attribute analysis, synectics, and checklists of questions. It provides details on how each technique works, such as the rules and methods for brainstorming or the steps involved in attribute analysis. The overall goal is to develop creativity and help resolve problems through applying these different creative thinking techniques.
This document provides an overview of successful innovation management. It discusses key challenges such as low success rates of innovation projects and the need for companies to continuously innovate. It then covers important factors for innovation success, including having the right motivation, opportunities, resources and methods. The document outlines elements of an innovation strategy and operational management approach, including using tools like stage gate processes, idea management pipelines, and creativity techniques to improve innovation outcomes.
This document discusses creativity and innovation. It defines creativity as the generation of novel and useful ideas, while defining innovation as the implementation of new ideas. Creativity involves idea generation and is seen as the first step of innovation. The document also discusses different types of creativity and innovation, as well as factors that influence them at the individual, group and organizational levels. It links creativity and innovation, noting that creativity is necessary for generating ideas that can then be implemented through innovation.
Design Thinking and Innovation Course - IntroductionIngo Rauth
This slide deck is the introductory slide deck for a course on design thinking and innovation. It has been taught at Chalmers University of Technology, Sweden. All slides are released under creative commons. Feel free to use them in your education program and let us know about the results and feel free to comment regarding improvements.
The presentation will give the definition of creative thinking and will explain in detail the different creative thinking techniques that are practiced by the entrepreneurs.
If you are an incubator manager looking to remain relevant and provide the best resources for the entrepreneurs and start-ups you support, this presentation is for you! Jeff Saville, Executive Director of the Center for Entrepreneurial Innovation in Phoenix, and Jasper Welch, Co-Founder of DurangoSpace in Colorado, offer insight into unique and emerging models in the world of business incubation, co-working, accelerators, and more.
1. Innovations often fail due to internal causes within an organization's control, such as poor leadership, communication, and goal definition, as well as external causes outside its control like government regulations or new competitor technologies.
2. Proper management of innovation is important because innovations require significant investments but have high failure rates, so losses must be minimized. Innovation success should also be measured using metrics like new product revenue and customer satisfaction.
3. For innovations to succeed, likely failures should be identified early, exceptional inventors retained, cross-functional collaboration ensured, and a supportive culture with flexibility and tolerance for mistakes established.
Idea Generation Process for Startup Businessestomiero
The document discusses various aspects of developing a new business or product idea including opportunity identification, team building, resources, and idea generation. Some key points discussed are:
- It is important to identify opportunities that provide significant added value rather than just pursuing any good idea.
- Building a strong founding team is critical and one of the biggest challenges as the entrepreneur must play the role of both player and coach.
- Resources like funding, assets, and business plans are needed but "thinking money first is a big mistake"; the focus should be on having a solid opportunity and team first.
- When developing a new product or business idea, it is best to think big enough to have the potential for significant growth and
Presentation to 180 Degrees Consulting Annual Conference (APAC).
Covers:
- Defining exactly what innovation is.
- Design thinking as a process for innovation.
- 7 key factors for innovation.
- Potential approach for innovation within charitable and philanthropic organisations.
Giovanni Corazza suggests ways to think more creatively like Elon Musk by going "out of the box". This involves taking risks, thinking differently than others by expanding one's mind beyond known information, combining ideas from different disciplines, and noticing opportunities through serendipity. Creative thinking also values long thinking to extract principles from ideas and evaluate new ideas for their potential value.
This document discusses creativity and innovation. It defines creativity as bringing new ideas into reality, while innovation is implementing ideas. Creativity fuels innovation. Myths that creativity requires special talents and that criticism helps ideas are busted - creativity is a skill learned through practice, and ideas need nurturing not criticism. Three components of creativity are listed as expertise, motivation, and creative thinking skills. Tools for defining problems include the Kipling method of questions and challenging assumptions. Organizations can be creative through encouraging challenges, freedom, diverse groups, clear goals, and rewards for risk-taking ideas. The process of innovation involves generating many ideas, screening them, testing feasibility, and implementing. Creativity and innovation are important for progress, competit
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.
Creativity involves generating new ideas by combining existing ideas in an abstract way, without a specific goal in mind. Innovation takes creativity a step further by applying new ideas in a business context to create value for customers and grow the business. Key components that foster creativity include intellectual debate, flexibility, risk-taking, and support from leadership and coworkers. For innovation to succeed at an organizational level, a process is needed that involves problem finding, idea generation, evaluation, planning, and implementation with acceptance from others. Determinants of creativity and innovation include organizational climate, culture, leadership, resources, structure, and building an innovation-focused culture.
To have a sustainable innovation strategy, organizations should focus on process improvement and continuous innovation by building on their current strengths to develop new products and services, as well as focusing on improving existing business processes. They should also advocate for a culture of innovation, understand the role of technology, and create an innovation program to identify pain points and challenges to drive the development of innovative solutions.
Design thinking as a creative problem solving process - Part 1Peer Academy
Slides from Ashlee Riordan's class on "Design thinking as a creative problem solving process"
What is design thinking? Why has design become such a big thing lately? In this class, you will learn about the fundamental process behind design - creative problem solving. This class won’t be fluffy and I won’t give you useless advice like “you need to use the other side of the brain”. We will pull apart the design process together and learn how to recognize it and apply it. Designers and non-designers alike will walk away with new, tangible techniques to tackle big and small problems. Of course, these things are always a great chance to meet awesome people and have fun!
For more information visit: www.peeracademy.org
Often young people dream and think about entrepreneurship as a short cut way of being rich and get famous and when challenges start coming in their entrepreneurial journey, they simply quit in between the great expedition. I believe, Social network and digital media channels directly responsible for creating the negative influence of overnight success. Many young entrepreneurs are still missing the right direction because of unaware of dark side of being an entrepreneur.So what it takes to be an Entrepreneur?
This document provides an overview of an idea management system (IMS) framework for collecting, assessing, and implementing ideas from employees, customers, and suppliers. The IMS defines a process for filtering ideas through stage-gate assessments to identify the most valuable ideas and develop them into new products, services, or operations. Implementing an IMS provides benefits like improved innovation, market agility, growth, and competitive differentiation by managing the "idea pipeline" as a commercial asset. Critical success factors include having executive support, incentive structures, idea champions, and integrating the IMS process with organizational culture and objectives.
The document outlines the agenda and schedule for Day 2 of a workshop on tools and techniques for innovation. The schedule includes reviewing concepts from Day 1, discussing innovation portfolios, barriers to innovation, sources of innovation, and innovation implementation. Key lessons from the prior week are reviewed, including establishing innovation goals and criteria. Common causes of innovation failure like poor leadership, communication, and understanding customer adoption are examined. The importance of organizational culture and aligning activities to foster innovation over incremental improvement is highlighted.
This document discusses various aspects of entrepreneurship, including the risks and rewards of owning a business, different types of business models like starting your own business, purchasing an existing business, or buying a franchise. It also covers idea generation methods, assessing the feasibility of business ideas, and available resources for small business owners, such as government agencies like the Small Business Administration.
This document discusses innovation, including what it is, why it matters, types of innovation, metrics to measure innovation, and provides a case study of Nestle's innovation with Nespresso.
1) Innovation involves introducing something new that provides value, and can be incremental or radical. Metrics to measure innovation include inputs like resources invested, processes like time to develop ideas, and outputs like new products and sales from new products.
2) The case study describes how Nestle developed its Nespresso business over 20 years through failures, partnerships, focusing on high-end customers, and creating an exclusive club to commercialize single-serve coffee.
3) Key lessons are that innovation takes time,
The document discusses various techniques for creative thinking such as focus groups, brainstorming, attribute analysis, synectics, and checklists of questions. It provides details on how each technique works, such as the rules and methods for brainstorming or the steps involved in attribute analysis. The overall goal is to develop creativity and help resolve problems through applying these different creative thinking techniques.
This document provides an overview of successful innovation management. It discusses key challenges such as low success rates of innovation projects and the need for companies to continuously innovate. It then covers important factors for innovation success, including having the right motivation, opportunities, resources and methods. The document outlines elements of an innovation strategy and operational management approach, including using tools like stage gate processes, idea management pipelines, and creativity techniques to improve innovation outcomes.
This document discusses creativity and innovation. It defines creativity as the generation of novel and useful ideas, while defining innovation as the implementation of new ideas. Creativity involves idea generation and is seen as the first step of innovation. The document also discusses different types of creativity and innovation, as well as factors that influence them at the individual, group and organizational levels. It links creativity and innovation, noting that creativity is necessary for generating ideas that can then be implemented through innovation.
Design Thinking and Innovation Course - IntroductionIngo Rauth
This slide deck is the introductory slide deck for a course on design thinking and innovation. It has been taught at Chalmers University of Technology, Sweden. All slides are released under creative commons. Feel free to use them in your education program and let us know about the results and feel free to comment regarding improvements.
The presentation will give the definition of creative thinking and will explain in detail the different creative thinking techniques that are practiced by the entrepreneurs.
If you are an incubator manager looking to remain relevant and provide the best resources for the entrepreneurs and start-ups you support, this presentation is for you! Jeff Saville, Executive Director of the Center for Entrepreneurial Innovation in Phoenix, and Jasper Welch, Co-Founder of DurangoSpace in Colorado, offer insight into unique and emerging models in the world of business incubation, co-working, accelerators, and more.
1. Innovations often fail due to internal causes within an organization's control, such as poor leadership, communication, and goal definition, as well as external causes outside its control like government regulations or new competitor technologies.
2. Proper management of innovation is important because innovations require significant investments but have high failure rates, so losses must be minimized. Innovation success should also be measured using metrics like new product revenue and customer satisfaction.
3. For innovations to succeed, likely failures should be identified early, exceptional inventors retained, cross-functional collaboration ensured, and a supportive culture with flexibility and tolerance for mistakes established.
Idea Generation Process for Startup Businessestomiero
The document discusses various aspects of developing a new business or product idea including opportunity identification, team building, resources, and idea generation. Some key points discussed are:
- It is important to identify opportunities that provide significant added value rather than just pursuing any good idea.
- Building a strong founding team is critical and one of the biggest challenges as the entrepreneur must play the role of both player and coach.
- Resources like funding, assets, and business plans are needed but "thinking money first is a big mistake"; the focus should be on having a solid opportunity and team first.
- When developing a new product or business idea, it is best to think big enough to have the potential for significant growth and
Presentation to 180 Degrees Consulting Annual Conference (APAC).
Covers:
- Defining exactly what innovation is.
- Design thinking as a process for innovation.
- 7 key factors for innovation.
- Potential approach for innovation within charitable and philanthropic organisations.
Giovanni Corazza suggests ways to think more creatively like Elon Musk by going "out of the box". This involves taking risks, thinking differently than others by expanding one's mind beyond known information, combining ideas from different disciplines, and noticing opportunities through serendipity. Creative thinking also values long thinking to extract principles from ideas and evaluate new ideas for their potential value.
This document discusses creativity and innovation. It defines creativity as bringing new ideas into reality, while innovation is implementing ideas. Creativity fuels innovation. Myths that creativity requires special talents and that criticism helps ideas are busted - creativity is a skill learned through practice, and ideas need nurturing not criticism. Three components of creativity are listed as expertise, motivation, and creative thinking skills. Tools for defining problems include the Kipling method of questions and challenging assumptions. Organizations can be creative through encouraging challenges, freedom, diverse groups, clear goals, and rewards for risk-taking ideas. The process of innovation involves generating many ideas, screening them, testing feasibility, and implementing. Creativity and innovation are important for progress, competit
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.
Creativity involves generating new ideas by combining existing ideas in an abstract way, without a specific goal in mind. Innovation takes creativity a step further by applying new ideas in a business context to create value for customers and grow the business. Key components that foster creativity include intellectual debate, flexibility, risk-taking, and support from leadership and coworkers. For innovation to succeed at an organizational level, a process is needed that involves problem finding, idea generation, evaluation, planning, and implementation with acceptance from others. Determinants of creativity and innovation include organizational climate, culture, leadership, resources, structure, and building an innovation-focused culture.
To have a sustainable innovation strategy, organizations should focus on process improvement and continuous innovation by building on their current strengths to develop new products and services, as well as focusing on improving existing business processes. They should also advocate for a culture of innovation, understand the role of technology, and create an innovation program to identify pain points and challenges to drive the development of innovative solutions.
Design thinking as a creative problem solving process - Part 1Peer Academy
Slides from Ashlee Riordan's class on "Design thinking as a creative problem solving process"
What is design thinking? Why has design become such a big thing lately? In this class, you will learn about the fundamental process behind design - creative problem solving. This class won’t be fluffy and I won’t give you useless advice like “you need to use the other side of the brain”. We will pull apart the design process together and learn how to recognize it and apply it. Designers and non-designers alike will walk away with new, tangible techniques to tackle big and small problems. Of course, these things are always a great chance to meet awesome people and have fun!
For more information visit: www.peeracademy.org
Often young people dream and think about entrepreneurship as a short cut way of being rich and get famous and when challenges start coming in their entrepreneurial journey, they simply quit in between the great expedition. I believe, Social network and digital media channels directly responsible for creating the negative influence of overnight success. Many young entrepreneurs are still missing the right direction because of unaware of dark side of being an entrepreneur.So what it takes to be an Entrepreneur?
This document provides an overview of an idea management system (IMS) framework for collecting, assessing, and implementing ideas from employees, customers, and suppliers. The IMS defines a process for filtering ideas through stage-gate assessments to identify the most valuable ideas and develop them into new products, services, or operations. Implementing an IMS provides benefits like improved innovation, market agility, growth, and competitive differentiation by managing the "idea pipeline" as a commercial asset. Critical success factors include having executive support, incentive structures, idea champions, and integrating the IMS process with organizational culture and objectives.
The document outlines the agenda and schedule for Day 2 of a workshop on tools and techniques for innovation. The schedule includes reviewing concepts from Day 1, discussing innovation portfolios, barriers to innovation, sources of innovation, and innovation implementation. Key lessons from the prior week are reviewed, including establishing innovation goals and criteria. Common causes of innovation failure like poor leadership, communication, and understanding customer adoption are examined. The importance of organizational culture and aligning activities to foster innovation over incremental improvement is highlighted.
The document outlines an agenda for a course on foundations of business innovation. It will be taught by Andrew Maxwell, who has experience in technology businesses and teaching entrepreneurship. The course will define innovation, discuss its economic importance, and introduce different types of innovation including products, processes, business models, and services. It will also cover developing an innovation process within an organization, identifying innovation resources and constraints, and assessing how innovative an organization currently is. The goal is to provide students an introduction to core innovation concepts.
This document discusses different types and fields of innovation. It defines innovation as the process of executing an idea that addresses a challenge and creates value for both the company and customer. The objectives of innovation include improving quality, identifying new markets, and gaining economic benefits. The key fields of innovation are product, technology, service, process, business model, marketing, architectural, and social innovations. Examples are provided for each field. The types of innovation are defined as radical, incremental, and disruptive, with examples like the iPhone and Gmail.
This document discusses different types and fields of innovation. It defines innovation as the process of executing an idea that addresses a challenge and creates value for both the company and customer. The document outlines 8 fields of innovation: product, technology, service, process, business model, marketing, architectural, and social. For each field, objectives, definitions, and examples are provided to illustrate how innovation can occur within different areas of a business to improve performance and meet customer needs. The 3 main types of innovation are also summarized as radical, incremental, and disruptive.
1. The document provides the resume and experience of Agus Santosa, including experience in standardization, auditing and consulting various management systems, and involvement in innovation forums and exhibitions.
2. Agus Santosa has experience in areas such as drafting standards, auditing quality, environmental and safety management systems, and consulting on innovation.
3. The resume lists experience in standardization committees, auditing and certifying various management systems, and participating in international innovation forums.
Businesses that fail to innovate run the risk of losing ground to competitors, losing key staff, or simply operating inefficiently. Innovation can be a key differentiator between market leaders and their rivals.
What is innovation?
Various types of innovation?
The process of innovation.
Examples of successful and unsuccessful innovation.
packaging innovation.
Importance of innovation.
The document discusses key aspects of new product development including defining what constitutes a new product, the new product development process, and reasons for developing new products. It describes the typical stages in the new product development process as idea generation, screening, evaluation, development, and commercialization. It also discusses topics like product life cycles, marketing strategies for different stages of the life cycle, forming a project team, estimating investment and development costs, standardization, and analyzing new product opportunities.
1) Innovation is the introduction of a new idea, product or process into the marketplace. It involves invention plus commercialization.
2) Organizations must innovate on a continuing basis to survive in a rapidly changing economy. The goals of innovation include improving quality, creating new markets, and reducing costs and environmental damage.
3) Sources of innovation include organizational structure, management tenure, slack resources, and interunit communications. Types of innovation include product/process, open/closed, incremental/radical, and modular/architectural innovations.
The document discusses the concept of reverse innovation, where innovations are developed first in developing markets and then distributed globally. It provides examples of companies innovating in emerging markets like India and China to create affordable products for those markets. GE Healthcare developed a portable and inexpensive ECG machine called MacIndia for the Indian market that costs $500, much less than their traditional $50,000 machine. A hospital in India developed extremely low-cost open heart surgery for $3,000 compared to $150,000 in the US through process innovations like standardization and economies of scale. These reverse innovations developed for emerging markets can then be distributed worldwide.
2013-03 Creating a Culture of Innovation for Health Plansimagine.GO
How can health insurers become more innovative and flexible in a heavily regulated market? You must develop an organizational culture that prioritizes innovation and ties it to the organization’s strategic direction.
Dr. G. Syamala discusses innovation in a document for the Department of Commerce at Savitribai Phule Pune University. Innovation involves applying creative solutions to appropriate situations. It is the ability to overcome situations using common sense. Innovation differs from invention in that it results in new products, services or processes through the transformation of ideas. Characteristics of innovation include being intentional, challenging, and aiming to benefit an organization. Types of innovation discussed include product, process, radical, incremental, and social innovation. Innovation management concerns planning, organizing and controlling innovation efforts to foster creativity and achieve organizational goals.
This document discusses technology commercialization and outlines several key points:
1) Successful technology commercialization requires a formal management process to ensure ideas are evaluated and resources are allocated effectively, increasing the likelihood of success.
2) There are different definitions of commercial success for technologies, including published research enabling adoption, licensing to larger companies, or becoming the basis for a new venture.
3) Traditional university views focus on research outputs and licensing, while leaner approaches emphasize testing opportunities, identifying business models, and conducting go/no-go evaluations at multiple stages of the process.
Types of innovation meaning***////////////sscecontent
Innovation is the process of creating new or improved ideas, processes, products, or services. There are several types of innovation including product innovation which focuses on new or improved products and services, process innovation which aims to improve production methods, and disruptive innovation which creates new markets by introducing different values. Other types are incremental innovation, business model innovation, open innovation, technological innovation, and service innovation.
Know Everything About Business Model Innovation101 Blockchains
Business model innovation is organizing all of the key elements of a business to create more value for the customers and the company. Basically, it’s a process to create a new type of business model that will offer more efficiency and usability in the long run.
Business model innovation is a necessary means nowadays for companies to adopt as the market is becoming more and more competitive. Also, traditional business models have become quite obsolete and can’t offer a proper service to customers.
There are generally 5 type of models that you can use – regular, position building, dynamic and application, capabilities building, and revolutionary techniques. You also need to follow specific steps for business model innovation such as decisions on product or service offerings, time of making decisions, authorities for decision making, and reasons for decisions.
If you want to introduce business model innovation concept within your company then 101 Blockchains can help you out with that. We offer a full course specifically to help you understand the ins and outs of business model development.
Check out the course from here ->
Business Model Innovation Course
https://academy.101blockchains.com/courses/business-model-innovation
Check out our certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Check out our full guides on this topic from here ->
https://101blockchains.com/business-model-innovation/
https://101blockchains.com/business-model-innovation-steps/
https://101blockchains.com/business-model-innovation-examples/
https://101blockchains.com/business-model-innovation-opportunities-and-barriers/
This document discusses innovation projects and management. It defines innovation as new ideas that create value through new or improved systems or practices. Innovation projects are often more complex than usual projects and require more flexible tools, communication, and leadership. The goals of innovation include positive change, developing new competencies, and identifying savings and market opportunities. Drivers include competition, regulations, and customer expectations. Innovation can involve new processes, products, marketing, or organizations. Common innovation tools and approaches include benchmarking, brainstorming, and process reengineering. The document outlines incremental and radical strategic approaches to innovation and barriers such as risk aversion. It provides references on creativity, project management, and innovation strategies.
The document discusses innovation process management (IPM) in healthcare. IPM uses tools and workflows to help healthcare institutions rationalize, coordinate, and focus innovative thinking and efforts. It enables ideas to thrive and technologies to come to market by examining how knowledge and ideas can be converted into improved products, processes, or services. The IPM solution addresses the end-to-end innovation management process through stages including strategize, capture, formulate, evaluate, define, and select. This helps healthcare organizations foster a culture of innovation and manage the process in an objective, strategic manner.
Innovation Classification and Types and Phases.pptxAnshika865276
Innovation refers to new products, processes, markets, or ways of organizing that create value. Innovation comes from entrepreneurs combining ideas in new ways. An innovation increases profits by creating higher customer value through lower prices or greater efficiency. An invention only becomes an innovation if successfully introduced to the market. There are three main types of innovation: product innovation changes a product's design; process innovation makes production more efficient; and service innovation improves services through technology or better customer experiences. Innovation involves two phases - the design phase focuses on creativity, while the implementation phase plans and coordinates the innovation.
Similar to Introduction to Innovation Management for SCFI (20)
This document provides an overview of prototyping and storyboarding. It discusses the importance of prototyping in the design thinking process as a way to test ideas quickly and improve upon them. Both low-fidelity and high-fidelity prototyping are described, as well as different types of prototypes like sketches, physical models, role playing, and storyboards. Guidelines for effective prototyping emphasize starting quickly, focusing on the testing goal, and keeping the user in mind. Storyboarding is presented as a way to visualize and guide users through experiences to better understand needs.
Design thinking is a human-centered approach to innovation that draws on design methods and tools. It emphasizes empathizing with users, defining problems from the user's perspective, ideating many potential solutions, prototyping ideas, and testing prototypes with users. This process aims to create innovative solutions that meet user needs. For software development, design thinking can be applied at each stage to develop solutions focused on the user experience through methods like customer research and iterative testing. It helps shift the focus from functionality to delivering an experience that solves users' problems in a better way.
Evaluates technical feasibility and
Adoption Blockers:
• Economic Blocker - Sees no ROI or too risky
• Political Blocker - Threatened by change
• Process Blocker - Disrupts existing processes
• Values Blocker - Conflicts with personal values
Adoption Approvers:
• Economic Approver - Sees ROI
• Visionary - Values innovation
• Process Approver - Supports process change
investment
- Evaluates technical risks and
complexity
• Process Champion - Drives process change
• Economic Champion - Drives ROI case
• Values Champion - Drives cultural acceptance
- Evaluates legal/compliance risks
• Legal
Starting a business is challenging and full of risks. Many new ventures fail for reasons outside of the founder's control like broader economic conditions or an unanticipated disruption in the industry. While failure is difficult, entrepreneurs who are resilient and learn from mistakes are often able to recover and succeed with future business ideas.
This document provides an overview of the Future Agenda project exploring the future value of data. The project will examine how data itself will be valued over the next decade through a collaborative, global approach. Workshops will be held in multiple locations to identify opportunities and implications. The project aims to challenge assumptions, understand constraints, and share diverse views on the key drivers of change. Insights will inform a global synthesis report on priority opportunities regarding how data will create value in the future.
This document discusses technology entrepreneurship and common myths. It begins with an overview of the speaker's background teaching technology commercialization and entrepreneurship. It then discusses why technology entrepreneurship is important and how experiential learning is key. The speaker notes that universities did not understand how to manage technology ventures or commercialize research. The document outlines common myths around entrepreneurship, such as the idea that it starts with a great idea or that entrepreneurs are risk takers. It emphasizes the importance of design thinking and linking it to venture creation.
The document discusses improving innovation capability. It identifies common barriers to innovation as not understanding innovation, designing organizations to stifle it, and stopping what used to work. The discussion focuses on measuring an organization's innovation quotient using factors like strategy, culture, processes, resources, and relationships. A behavioral trust framework is introduced to build relationships and encourage collaboration, knowledge sharing, risk-taking, and communication to improve innovation culture. Organizational ambidexterity is needed to balance performance and innovation.
This document provides guidance for those starting a journey and outlines what to expect and prepare for. It discusses exploring without end to continually learn and grow, and living life looking forward while learning lessons looking backward. The document also recommends focusing on making meaning over money. It notes the three stages of startups as ideation, validation, and actuation, and that the journey will involve learning how to navigate obstacles through a "startup slalom."
The document discusses the opportunities and challenges presented by blockchain technology. It describes how blockchain can disrupt existing industries by enabling new levels of performance and facilitating new business models. Blockchain creates a distributed ledger that eliminates duplication, allows secure record keeping, tracks provenance, and more. It also discusses how blockchain reduces costs and creates new revenue opportunities for organizations. The document outlines barriers to innovation adoption and how to develop a compelling value proposition to increase adoption of disruptive technologies like blockchain.
1. Teams developing technology face challenges like being informal, cross-functional with little training, and having outcomes that are not clear.
2. High-performance teams develop a sense of purpose and direction, embrace complementary skills, make consensus-based decisions incorporating different perspectives, and leverage individual strengths.
3. Embracing diversity improves innovation but is more difficult, as different problem-solving styles are needed at each stage and individuals value their own style over others, creating potential conflicts.
1) Barriers to innovation include changing current processes and procedures, modifying management styles, developing new organizational structures, abandoning existing products, and modifying incentives and company culture.
2) Maxwell's three laws of innovation inertia state that organizations naturally resist change, larger organizations require more force to change, and any force applied to an organization generates an equal and opposite reaction force.
3) The innovation quotient measures five factors that determine an organization's ability to innovate: strategy, culture, processes, resources, and relationships. Organizations need both a performance engine to exploit existing capabilities and an innovation engine to explore new opportunities.
This document discusses disruption and how to anticipate and manage it. It defines disruption as changes in the marketplace that affect players, interactions, and functions by creating new levels of low-cost and novel solutions. While some changes in business models are difficult to anticipate, changes in technology that enable new levels of performance can be scanned for trends. The document suggests that the most optimal disruptors are new ventures focused on the opportunity without constraints of existing customers. It provides tips for managing innovation risk through mitigation strategies and lean startup approaches, as well as managing an innovation portfolio that assumes most projects will fail.
The document provides information about Lassonde's International Experience Course at the Technion in Israel from May 14 to June 4, 2018. It is a graded, 3-credit course open to undergraduate students from any year interested in entrepreneurship, broadening their cultural exposure, or advanced technologies. The trip includes a bootcamp in Toronto from May 8-12 before traveling to Israel. In Israel, students will spend time in Tel Aviv, Jerusalem, the Dead Sea, and Haifa visiting the Technion campus. Fees for the course are covered but students are responsible for airfare, some tours, and have options for financial support. Security and visa issues are also addressed.
The document discusses the importance of commercializing university research and working with industry partners. It notes that there is an increasing focus on commercialization in grant applications. It also discusses the need to understand the difference between incremental and disruptive innovation. Finally, it lists several ways that universities can help in preparing technologies to be adopted, such as by helping to find industry partners, do customer research, and provide funding and IP guidance to get technologies from the lab to market.
This document discusses the importance of commercializing university research through technology transfer offices (TTOs). It notes that most TTOs operate at a loss and focus on licensing, while most disruptive innovations never reach customers. The root causes identified include researchers lacking commercialization expertise, research not considering commercial needs, and the commercialization process starting too late. The document advocates for design thinking and taking a customer-centric approach to commercialization from the start of the innovation process. It emphasizes determining customer needs and viable business models to overcome adoption barriers.
BEST at Lassonde School of Engineering offers a holistic approach to engineering education that integrates entrepreneurship skills and experiences. It addresses the need for engineers to better communicate, problem solve, and understand their societal impact. BEST enhances student learning through hands-on activities that develop creativity, teamwork, and an understanding of technology commercialization. It combines engineering courses with business and law courses, as well as experiential opportunities like co-ops, international programs, and competitions, to prepare students for evolving careers and help them achieve their potential.
Business angels are the second most important source of capital for high-growth ventures. Understanding how business angels make investment decisions is critical for entrepreneurs who want their money. Business angels approach investment opportunities using a boundedly rational approach, where they minimize decision-making effort. They first look at objective venture factors like market size, barriers to entry, and financial viability, then use individual subjective factors to reject opportunities. When assessing risk, business angels examine inherent risk, performance risk, and relationship risk. They also consider the entrepreneur's experience, expertise, and characteristics to assess performance risk, and use behavioral cues to evaluate long-term relationship risk. Business angels also consider the potential exit when making investment decisions.
An overview of why technology commercialization is important for those undertaking research in universities - insights into why the current process is broken and some insights into new apporaches.
1) The document discusses challenges with commercializing university research and proposes a new approach using design thinking and lean startup methods.
2) Current commercialization success rates are low because research is not designed with commercialization in mind and researchers lack entrepreneurial skills.
3) The proposed approach would apply design thinking to iterate from technologies to applicable customer needs and business models in order to increase commercialization success rates. It focuses on recognizing customer jobs that could provide competitive advantage.
The document summarizes the Bergeron Entrepreneurs in Science and Technology (BEST) program at Lassonde School of Engineering. BEST takes a holistic approach to engineering education focused on helping students impact society. It provides societal and entrepreneurial skills through experiential learning opportunities, a transcripted certificate, awards and fellowships, industry outreach, and research in technology commercialization and innovation management. BEST aims to prepare engineering students for evolving careers by addressing needs for better communication, problem-solving, and understanding their roles and teamwork.
This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
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The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
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ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
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Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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4. Schedule – Day 2
• Review of previous workshop 9.00 – 9.30
• Review of homework 9.30 – 10.30
• Barriers to innovation exercise (inc break)10.30 – 11.30
• Review of barriers 11.30 – 12.15
• Sources of innovation 12.15 – 12.45
• Sources exercise (inc lunch) 12.45 – 13.15
• Innovation leadership and culture 13.15 – 14.00
• Innovation implementation 14.00 – 14.45
• Innovate forward exercise and wrap up 14.45 – 15.15
• Discussion and wrap 15.15 – 16.30
5. Andrew Maxwell Ph.D.
• Associate Professor, Entrepreneurial Engineering,
Lassonde School of Engineering
• Chief Innovation Officer, Canadian
Innovation Centre
• Professional engineer (Imperial College,
London and MBA, London Business School)
• 15 years with technology multinationals
• Cofounded four technology businesses
• Innovation subject matter expert with IRI
• Teaches technology entrepreneurship at
Temple and York Universities
• Active in the Innovation Management Community
Introductions
6. 1. Goals of Innovation
Improve profitability (and bottom line)
Enhance brand and reputation
Retain and attract employees and partners
Improve balance sheet and investor attractiveness
Ensure survival
Build community
7. The Economic Conception of Innovation
Joseph Schumpeter
Innovation is not just the development of a new
product, it includes the:
• Introduction of a new good, or a new quality of a good
• Introduction of a new method of production (need not
need include new technologies)
• The opening of a new market
• The securing of a new source of supply
• The creation of a new organization
8. Innovation success leads to:
Improve top line, bottom line or market share
Strengthen balance sheet
Strengthen brand/reputation
Increase workforce retention (incent stakeholders)
Enhance community engagement
Long term survival
Improve environmental performance
Attract investors/acquirers
9. Without specific innovation goals … low
likelihood of success
Improve quality of
processes, products and
services
Create of new markets
Extend product range
Reduce labour costs
Improve production
processes
Reduce use of raw
materials
Reduce environmental
damage
Reduce energy
consumption
Conform to regulations
10. Internal drivers
1. Unexpected event
2. Contradiction
3. Change of work process
4. Change in industry structure
External Drivers
5. Socio-economic changes
6. Political changes
7. Technology changes
Drucker‘s Innovation
Framework
Innovation Drivers & Sources
Internal sources
1. Research
2. Shop floor
3. Sales/service
4. Customer service
External Sources
5. Customers
6. Suppliers
7. Competitors
11. Importance of Innovation
(recommended videos)
Bob Cooper on the importance of new product development
Simon Sinek on Getting to why
John Bessant on Innovation Management
12. Innovation Management is a Process
Innovation is a management process the requires
specific tools, techniques and discipline
Innovation involves the development of
organizational processes and procedures for
generating, considering and acting on innovative ideas
Innovation research focussed on technology; but real
challenge is to understand innovation process and the
cognitions and behaviours of people in that process
Innovation is a social science as well as a physical science
13. But innovation is challenging
However most companies stop innovating because
innovation involves doing something new and different:
Changing current processes and procedures
Modifying management style and communications
Developing new organizational structures
Abandoning existing products and finding new ones
Modifying incentives, compensation and recruitment
Change company culture and attitude to risk
Most organizations unwilling to change many of these –
which creates self-imposed barrier to innovation
14. The most difficult change is changing
behaviours
Most company practices encourage behaviours that stifle
innovation, changing the behaviours of individuals is challenging:
Don’t pre-judge ideas…..but use appreciative listening
Don’t postpone decisions….that itself is a decision
Don’t ignore how an innovation affects both your organization
and your customers..otherwise you won’t succeed
Don’t shoot down poor ideas….first build on them
Don’t reject ideas without reason..you won’t get any more
Increasing innovation requires changing decision making
15. Maxwell’s three laws of innovation
1. There is a natural tendency for organizations to keep
doing what they’re doing and resist changes. In the
absence of a force, they will continue to do what they’ve
always done.
2. Larger organizations require more force to change what
they are doing than smaller organizations.
3. For every force there is a reaction force that is equal in
size, but opposite in direction. When someone exerts a
force on an organization, he or she gets pushed back in
the opposite direction equally hard.
16. Innovation
Innovation is the creation of new or more effective
products, processes, services, technologies, or ideas that
are accepted by markets, governments, and society.
It is the acceptance by a user or customer, that makes it
innovation, rather than invention, with which it is
confused. Invention is just the creation of a new idea.
Innovation is also confused with improvement. The big
difference is that you can improve things by just doing
current things more efficiently or more effectively.
Innovation requires doing new things or doing them
differently.
17. Innovation
Innovation in organizations is also constrained, as it is
assumed to require product innovation, and require
technology development expertise.
In reality, innovation also includes:
Product Innovation
Process Innovation
Service Innovation
Business model Innovation
……….. And can be applied to all areas of an organization
18. Product Innovation
The goal of product innovation is to create new levels of
performance or enhanced functionality or maintain current
features at a lower cost
New levels of performance can:
Provide enhanced utility for the customer
Enable functionality that was not previously possible
create new types of services, or enhanced processes
Product innovation often involves the development of new
technology or the application of an existing technology in a new
application
Can be incremental or disruptive
19. Process Innovation
A change in the way a product or service is
manufactured, created, or distributed
Process innovation involves implementation of new or
improved production or delivery method.
Process innovations can be intended to decrease unit
costs of production or delivery, to increase quality, or
to produce or deliver new or significantly improved
products.
20. Majority of individuals in Canada (and US) work in
service industry
Even where people work in manufacturing, many
of these individuals provide support services
Service innovation is biggest opportunity to
increase competitiveness
Improvements in service innovation can be
measured in terms of increases productivity and
value added
Service Innovation
21. Business Model Innovation
Business model innovation includes revenue model
innovation and supply chain innovation
Revenue model innovation can often increase
competitiveness and drive adoption by:
• Creating enhanced customer utility
• Enabling a different pricing strategy
• Providing a low risk adoption option
• Improve the compelling value proposition
Sometimes a technology innovation requires a revenue
model innovation to achieve commercial success
22. What product/service will be delivered to which
customer segments
What components or services will be acquired externally
What value-added will be undertaken in-house
This involves consideration of:
Core competencies necessary for long term success
Availability of suppliers in supply chain
Availability of distributors in market channel
Strategic risk management of relationship
Alex Osterwalder’s business model canvas is a great
framework for discussing each of these issues
Supply Chain Innovation
23. • Distinctions between incremental and disruptive
innovations are based on the impact on the market,
not on the sophistication of the technology advance
• Incremental innovations make changes to existing
products or services that tend to reinforce existing
market positions
• Disruptive innovations change the nature of
competition in the marketplace, and can often lead to
the creation of new ventures
Incremental versus Disruptive Innovation
24. The Innovation imperative
Three choices:
Innovate your organization,
Partner with an innovative organization or
Wait for innovation to happen………..
25. Perspectives on Innovation
The goal of innovation is positive change that leads to increased
productivity; a fundamental source of increased
competitiveness and wealth of nations
Innovation is typically understood as the successful introduction
of something new and useful by both private enterprises, as
well as, government and public organizations including:
Work Methods
Technologies
Processes and Practices
Products
Services
26. Characteristics of Innovation Initiatives
• All scientific, technological, organizational, financial
and commercial initiatives, which are intended to, or
indirectly lead to the implementation of innovations.
• Some innovation activities are themselves innovative,
others are not, but are necessary for the
implementation of innovations.
• Innovation activities also include R&D that is not
directly related to the development of a specific
innovation.
27. Innovation: A Management Process
Innovation is a management process the requires
specific tools, techniques and discipline
Innovation involves organizational processes and
decision-making for generating, considering and acting
on useful ideas
Most research on innovation has been devoted to the
process of technological innovation; the how-to
(innovate) approach
Less attention has been paid to innovation behaviors
the adoption of innovation and difficulty of changing
28. Rationale for Firm-Level Innovation
Improving Performance: The ultimate reason for a firm to
innovate is to improve its performance, for example by
increasing demand or reducing costs
Market Advantage: A new product or process can be a
source of market advantage for the firm
Productivity Enhancement: The firm gains a cost
advantage over its competitors to gain market share and
increase profits
Product Innovation: the firm can gain a competitive
advantage by introducing a new product, which allows it to
increase demand and mark-ups.
29. Rationale for Firm-Level Innovation
Product Differentiation: Firms can also increase demand
through product differentiation, by targeting new markets
and by influencing demand for existing products.
Changes in Organizational Methods: Firms can improve
the efficiency and quality of their operations
Improving Production Processes: Innovation can also
improve the capabilities of production processes can make
it possible to develop a new range of products
Improving Knowledge Management Processes: Innovation
can also improve the firm’s ability to gain and create new
knowledge that can be used to develop other innovations.
30. Innovation in Organizations
Organizational innovation is typically linked to
organizational strategies, goals and objectives
Companies cannot grow through cost cutting, process
improvement and re-engineering only.
Innovation is a critical factor and the key to achieve top-
line growth and bottom-line results
The investment in innovation varies from a low of 0.5 % of
total capital to a high of 20%
The average investment in innovation across the
organization spectrum is about 5%
31. Goals of Innovation in Organizations
Improvement in quality of
processes, products and
services
Creation of new markets
Extension of product range
Reduction of labour costs
Improved production
processes
Reduced use of raw
materials
Reduced environmental
damage
Renewal and upgrading of
products and services
Reduced energy
consumption
Conformance to regulation
32. A Study by the Boston Consulting Group BCG
and the American Association of Manufacturers
(NAM)
The report assesses the state of innovation in the USA and
the leading industrial countries around the world, including
Canada.
The report develops a set of innovation indicators and
applies them to the manufacturing sectors in the countries
selected for the study
Innovation Imperative in Manufacturing
33. Investment Growth
in Sector
New Business
Development
Economic Growth
of Sector
Total Score
Sub Score
CategoryScore
Topic Score
Infrastructure
Policies
International
Innovation Index
State of Education
Quality of
Workforce
Infrasturcure
Quality
Business
Environment
R & D Output
IP Generation
Knowledge Transfer
to Industry
Commercialization
of Innovation
Business
Performance
Public Impact of
Innovation
Innovation Inputs
Innovation
Performance
R & D Tax Credit
Taxation Level
Government R&D
Funding
Education Policies
Trade Policies
IPR Policies
Immigration
Policies
High Tech Exports
Labour Productivity
Market
Capitalization
Employment
Growth in Sector
Fiscal Policy Other Policies
Innovation
Environment
R & D Results
34. BCG Study: Drivers of Innovation
0 10 20 30 40 50 60 70 80
Investment in IdeaGeneration
Listening to theVoiceofCustomers
Increasing Management Focus
Establishing Innovation-Friendly BusinessCulture
Effectively Using OutsideSourcesforInnovation Ideas
Partnering withSuppliersforInnovativeIdeas
Dedicating AdditionalResourcesto InnovationInitiatives
Providing IncentivesforInnovation
SMEs
LargeCompanies
35. Aspects of Process Innovation (1)
0 10 20 30 40 50 60 70 80
Developing Quality Ideas
Managing a Portfolio of Ideas
Ensuring Rapid Development of Ideas
Communicating Innovations to Sales
Personnel
Effective Marketing of Innovations
Less Innovative Companies
Innovative Companies
36. Aspects of Process Innovation (2)
0 10 20 30 40 50 60 70 80 90 100
Well Defined Business Processes
Clear Financial Hurdles
Unambigious Management
Responsibilities
Organizational Structure Aligned Around
Processes
Incentives for Correct Use of Processes
SMEs
Large Companies
38. Innovation exercise 1
Geoffrey Moore identifies four reasons to innovate:
Customer intimacy
Technological leadership
Enhanced productivity
New market creation
Examine:
• Market challenges that are driving innovation
• Core competencies
• Strategic innovation options
Look at the current innovation initiatives in your organization
and Identify any challenges
39. 2. Establishing innovation criteria
Develop strategic objectives
Define how innovation will be measured
Establish key criteria for measuring innovation ideas
Establish innovation constraints (timescale, resources)
Create innovation criteria framework
40. The BSC Strategic Perspectives
2. Customer
3. Internal
Business
Processes
1. Financial
4. Learning
and Growth
Vision and
Mission
41. • Robert L. Sutton: “You know how to manage for
efficiency and productivity. But if it is creativity you
want, chances are you are doing it all wrong!”
• James March: “Unfortunately, the difference
between visionary genius and delusional madness is
much clearer in history books than in experience.”
Creativity
42. • Take your past successes and forget them
• Ignore people who have solved the exact problem you face
• Encourage people to ignore and defy their bosses and peers
• Find some happy people and get them to fight
Paul Erdős
Nikola Tesla
Steve Jobs
Weird Ideas for Cultivating Creativity
43. • Translation: Nobody bought his
products/services when he
offered them. Their value
became apparent later.
• So, there is something to be said
about the human side of the
customers.
“He was ahead of his time”
44. • Never listen to customers…
– "If I had asked my customers what they wanted, they would have told
me a faster horse." – Henry Ford
– “The best way to predict the future is to invent it.” – Alan Kay
– Don’t Listen To Customers, Understand Them
– It is not the job of your customers to know what they don’t know
• Always listen to customers…
– Knowing what a customer needs is critical to closing any deal
– What are their personal and company goals? Understand that, and you
can point out and explain how your product will help them
– Solicit and Listen – Customer Feedback is critical to business success
– “If you're not talking to customers, you don't uncover a lot of
opportunity, you just keep upgrading” – Scott Cook (Intuit)
Role of customers:
45. • What works:
– Defining a target customer base, even if it doesn’t exist today
– Understanding the needs of the target customers
– Having an objective and sticking to it
– Gauging the support behind a concept
– Engaging only the most experimental customers
• What doesn’t:
– Building what the customers ask for
– Adding features to existing products
– Cost and schedule being the primary concerns
– Responding to customer needs without an understanding of their
operations
Customers and Innovation
46. 1. Improve quality
2. Create new markets
3. Extend the product range
4. Reduce labor costs
5. Improve production processes
6. Reduce materials usage
7. Reduce environmental damage
8. Replace products/services
9. Reduce energy consumption
10.Conform to regulations
How do you measure innovation
success
Measuring innovation success
48. Idea Assessment – Business
• Alignment with strategic objectives
• Provides appropaite Return on investment (ROI)
• Has appropriate risk profile
Idea
Market
Compete
ncies
Feasibility
Business
Innovation strategy
49. • Competitive situation
• Customer current and future needs
• PEST factors
• Reputation
• Relationships
Idea
Market
Compete
ncies
Feasibility
Business
Market factors
50. • Core strengths that create sustainable
competitive advantage
• Ability to execute
– Critical expertise areas
– Peripheral expertise areas
– Infrastructure
• Ability to launch
• Ability to support Idea
Market
Compete
ncies
Feasibility
Business
Competencies
51. • Core feasibility, for example:
– Technical completeness;
required inventions & breakthroughs
– Deployment & support
• Resources
– Infrastructure
– Human capital
– Financial resources
• Existing business
Idea
Market
Compete
ncies
Feasibility
Business
Feasibility
52. Developing Selection Process
Competitive
pressures
Price
Quality
Features
Delivery
Service
Market trends
Political
Economic
Social
Technological
Resources
People
Money
Processes
Relationships
Strategic
Financial return
Timescale
Strategic objective
Market
Existing business
Brand
Suppliers
Distributors
Core competencies
Technical
Infrastructure
Complementary
products/services
Innovation goals
Financial
Reputational
Customer centric
Environmental
53. Innovation exercise 2
We have identified seven different categories of innovation factors
that might affect a project.
Competitive pressures
Market trends
Resources
Strategic
Based on the current pressures facing your company, and the
current innovation initiatives
Identify the top five factors that should be considered
For each identify a way of assessing go/no go
Market
Core competencies
Innovation goals
54. 3. Coming up with innovative ideas
Where do good ideas come from
Frameworks and perspectives for developing ideas
Thinking inside the box
A design thinking approach
Capturing and recording ideas
Exposing ideas to a go/no go decision
55. “The trick to having good ideas is not to sit around in
glorious isolation and try to think big thoughts. The trick is
to get more parts on the table.”
Steven Johnson
https://vimeo.com/83980563
Where do good ideas come from
59. • Personal experience: Identify a gap in the
market based upon personal experience
• Market knowledge: Understanding potential
customer needs
• Current suppliers limitations: Identifying gaps in
current product or service offerings
• External changes: Political, economic, social,
technological
• Finding new ways to do business (i.e. turning a
product into a service)
Five sources of innovation
60. There is a clear understanding of why innovation is important for
the company
The innovation strategy of the organization is clear
There is a simple method for communicating the need for
innovation and collecting the resulting ideas
There is support for innovation
Leadership support
Alignment of incentives
Allocation of necessary resources
Effective system for deciding which ideas to implement
Commitment to implement good ideas in timely manner
“Organizations, by their very nature are designed to promote order
and routine. They are inhospitable environments for innovation”
Ted Levitt
Ideas are only generated if:
61. Analyzing problems with current products (Fault analysis)
Awareness of competitive offerings
Application of an existing technology to a new arena
Anticipation of a trend (Political, Economic, Social, Technological)
Exploring customer behaviours (Design Thinking)
Fuzzy front end discovery process (Lean Start Up)
Open innovation (pro-active or reactive)
Supplier inputs (either existing or new)
University or other academic research partners
“If you can not find a consistent way to come up with new ideas in
your organization, then you need to find alternate ways to respond to
externally generated ideas”
Sources of innovation
63. Apollo 13 – Houston we have a problem
Problem
CSM Built by North American Aviation
LM Built by Grumman
as a result…
CSM Square LiOH filters
LM Round LiOH filters
Solution
www.youtube.com/watch?v=Z3csfLkM
JT4
64. Apollo 13 – Closed World
There is nothing you can’t fix with duct
tape…
65. Idea generation
Analyze your strengths and weaknesses, identify those
areas that can give you a competitive advantage
Focus on marketplace trends and competitive activities
to identify future market gaps or opportunities
Identify if you can use your strengths to create a
compelling value proposition that:
Motivates customers to purchase from you
Provides a competitive advantage that competitors can not
easily replicate
Is a large enough opportunity to justify the investment
66. “If the people running Amazon.com
don’t make some significant mistakes,
then we won’t be doing a good job
for our shareholders because we
won’t be swinging for the fences.”
Jeff Bezos
Innovation is about taking higher levels of risk
“I don’t mind failure. I’ve always thought that
schoolchildren should be marked by the number of
failures they’ve had.”
James Dyson
which means accepting higher levels of failure
67. • Genius is 1% inspiration, 99 % perspiration.
• I start where the last man left off. ... All my work was
deductive, and the results I achieved were those of invention
pure and simple.
• I have not failed. I’ve just found 10,000 ways that won’t work.
• Opportunity is missed by most people because it is dressed in
overalls and looks like work.
• Hell, there are no rules here. We are trying to accomplish
something.
• Restlessness is discontent and discontent is the first necessity of
progress. Show me a thoroughly satisfied man, and I will show
you a failure.
Thomas Edison on ideas
68. 1. Most people think innovation is about developing a new
technology……
…… but it is actually about changing behaviors
2. Most people think that innovation happens in one part of an
organization…….
…… but it permeates the organization
3. Most people think becoming innovative is easy….
…… but changing behaviors, and moving away from
what has made you successful is very challenging
4. Most people think you always have time to get more information to
make a decision…
….. But innovation is often a race against time
Innovation is important to the future of your
business
but it is challenging to become more innovative
“The biggest risk is not taking any risk…In a world that
changing really quickly, the only strategy that is guaranteed
to fail is not taking risks.”
Mark Zuckerberg
69. The most important aspect of implementing innovation
is to decide what opportunities not to pursue
“Innovation comes from saying no to 1,000
things to make sure we don’t get on the
wrong track or try to do too much.”
Steve Jobs
70. Innovation exercise 3
Use one of the techniques or approaches to identify an idea,
Then evaluate the ideas against the criteria
71. How should you invest your Development funds & people?
What is your investment portfolio?
TechnologyImpacttoBusiness
HIGH
LOW
Likelihood of Commercialization
Within Next 5 Years
LOW HIGH
Portfolio Management is about resource allocation
Which Development projects should you resource
The relative prioritization of these
It’s how you implement your Strategy
4. Developing a strategic portfolio
It’s real when you spend money
72. % of Projects in the Average Development Portfolio
There has been a strong trend to smaller, lower risk and less innovative projects
Development Project Type 1990s 2000s
New-to-world, new-to-market
innovations
20.4% 11.5% 43.7% decrease
New-product lines to the
company
38.8% 27.1% 30.1% decrease
Additions to existing product line
in company
20.4% 24.7% 20.8% increase
Improvements & modifications
to existing company products
20.4% 36.7% 80.1% increase
Total 100.0% 100.0%
-60% -40% -20% 0% 20% 40% 60% 80% 100%
Negative trend
73. • Too many projects for the
limited resources available
• Portfolios unbalanced –
too many ‘small’ projects
• Few or no high value
projects
• Poor project prioritization
• Few businesses have a
portfolio management
process in place
• Best performers fare much
better on these metrics 69.0%
58.6%
62.1%
69.0%
62.1%
78.8%
75.0%
88.8%
80.6%
76.0%
96.4%
88.0%
100.0%
100.0%
96.0%
50% 60% 70% 80% 90% 100%
No portfolio management process
Poor project prioritization
Few or no high value-to-the-business
projects in portfolio
Poor balance: too many minor projects
in potfolio
Too many development projects for
the resources available
Worst Performing Businesses
Average Business
Best Performing Businesses
Percentage of Businesses
Reasons for failure
74. Worst
Performers
Average
Business
Best
Performers
Promotional developments & package
changes
12% 10% 6%
Incremental product improvements &
changes
40% 33% 28%
Major product revisions 19% 22% 25%
New to the business products 20% 24% 24%
New to the world products 7% 10% 16%
45% 55% 65%
10 Point Steps
Top performing businesses have a
more innovative, bolder but riskier
portfolio of development projects
Too many small, low value projects
75. D: DISRUPTIVE
Unmet consumer need. New
technology.
P: PROGRESSIVE
Addresses consumer need
better than competition.
Significant technology
development.
C: CONTINUOUS
Range extension or upgrade.
Technology available, some
development required.
T: TACTICAL
Graphics change, bonus bags,
deletions, seasonal.
Incremental Sales
(NSV - First Full Year)
23%
15%
40%
22%
D
P C
T
Resource Allocation
T
47%
12%
23%
4%
D
P
C
Number of Projects
T
78%
4%
D
6%
P
12%
C
Look at your current portfolio
76. Management
makes strategic
choices:
resource splits
by bucket
Project types
Markets, segments
Product lines
Technologies
Geography
Categorize
projects by
bucket, then rank
in each Bucket
until out of
resources
Resource
allocation will
thus mirror
your strategic
priorities
Doing Strategic Buckets
Best Practice Example
Major, Bold
Innova-tions,
Platforms
Other: extensions,
modifications,
improvements cost
reductions
Std New
Product
Projects
The business's strategy dictates
the split of resources into buckets
Use strategic buckets
78. • Roadmap:
– Management’s view of how to get where
they want to go
– Or to achieve their desired objective
• Provides a way to develop, organize
and present information on:
– What new products or product lines the
firm will develop
– What new platforms it will develop
– The timing & sequence of these
– Technologies to invest in:
• Fundamental research work
• Technology acquisition & licensing-in
Provides ‘placemarks’ for major developments 5-7 years into the future
Develop strategic product roadmap
79. Strategic:
Given your strategic arenas
What major products do you
need in order to win in each
arena?
Market Analysis
Where is the market going?
• Trend analysis
• Market forecasts
• Industry studies
What new products will be
needed?
Multiple inputs and a cross-functional team of experts
required to develop the Product Roadmap
Options for strategic roadmap
80. Competitive Analysis
– Where are your products relative to
competitors:
•Your relative strengths (or weaknesses)?
•Which of your products need
replacement or enhancement?
– Where will your competitor’s products be
in 1-3 years?
Product Line Analysis
Review your current
product line:
What’s the PLC (Product
Life Cycle curve) of each
product?
Which products are tired
and becoming obsolete –
need replacement?
What gaps do you have in
your product line – need
filling?
Embry-
onic
Early
Growth
Late
Growth
Mature Decline
Product
Line A
Product
Line C
Product
Line B
Product
Line D
Approachestodevelopingstrategicroadmap
81. • Create huge threats to
the dominant firms
in an industry
• Great opportunities
for others
• In the last century:
– Digital watches almost destroyed
Swiss watch industry
– Hand-held calculator devastated
mechanical calculating devices
– Ball-point pen, the Xerox machine
and the jet engine created great
dislocations
ProductPerformance
Time
Disruptive
Technology
Exploit disruptive technologies
82. • Here’s how: Prioritize your projects
– Rank projects according to their ‘value to the company’
– Rank or list them until you run out of resources
• Some tough issues:
– How to put a ‘value’ on projects
– Often multiple objectives:
• Profitability (IRR, NPV, EVA)
• Strategic importance
• Desire for ‘quick hits’
– Reliability & predictability of these measures
• Profitability – often difficult to accurately predict
• Some projects may be cancelled – estimates change!
Maximize the portfolio’s value:
Admirable goal – Tough to achieve
Maximize portfolio value
83. NPV (Net Present
Value)
Project’s Value in $000
Forecast of cash flows for X years
Sum of positive & negative cash flows
Cash flows discounted by 1 / (1+i)n
IRR (Internal Rate of
Return) –
the ROI as a %
IRR Is the value of i (%)
So that NPV = 0
Payback
Period
(in years)
Forecast cash flows
How many years before investment is
recovered?
Make Go/Kill decisions at Gates based on
Whether these financial numbers hit hurdles
ValMax method 1: Financial
84. Strengths:
– Gives the true return & value
•The way bonds, loans and
annuities are valuated by
financial institutions
– Recognizes that money has a
time value
– Favors projects that:
•Have sound income streams
(versus expenditures)
•Are close to launch (little is left
to be spent)
– Deals with constraints: bang for
buck
•Productivity Index = NPV /
Costs Remaining
Weaknesses:
– Relies on financial data –
unreliable
– Ignores probabilities of
success (hence ignores risk)
• So use a ‘risk adjusted’
discount rate
– Assumes strictly financial
goals
Strengths & weakness: NPV, IRR & PI
86. Sophistication of
most financial
models is far
beyond the
accuracy of the
data input
Garbage in =
Garbage out
Trying to
measure a soft
banana with a
micrometer
Will tend to
favor “known”
projects with
low
uncertainties
Drives you to a
conservative, low
risk portfolio
Low hanging fruit
projects – fast,
cheap, certain
Not what we’re
trying to achieve
here!
Rely extensively
on financial
analysis, and
likely you won’t
do any bold
innovations
Financial tools not good for bold projects
87. Based on theory that qualitative factors predict
new-product project success & project value
Relies on “markers” that are proven to be
correlated with success & value-to-company
Examples:
•Competitive advantage
•Market attractiveness
•Strategic fit
A scoring system based on these factors
A point count system
Use scorecards at gates & portfolio reviews
Make sure you choose factors that really do
discriminate between winners & losers?
Select Projects Using a Scoring Model: ProfilingResources by product lines & markets
88. 1. Strategic fit
& importance
• Strategic alignment – fits our strategy
• Strategic importance & impact
2. Market
opportunity
• Market size, market growth rate, potential
• Competitive intensity & strength
3. Feasibility
• Technical – can it be done, can we do it?
• Marketing – do we have the capabilities & resources
4. Competitive
advantage
• Unique solution, differentiated
• Compelling value proposition to customer
5. Reward
Vs. Risk
• Potential for profit, payback time OK
• Acceptable risk
Five Key
Criteria
• Develop a scorecard
• Use this at Gate & Portfolio Reviews
Markets that predict success
89. • Bold innovations are riskier:
– Less than a 100% chance of commercial success
• Some won’t even be developed
– Hit technical roadblocks & die
• How to handle risks & uncertainties
• Several ways:
1. Risk adjusted discount factor in
your NPV calculations
• Use different values of i for
different project types
2. Probability-adjusted NPV
• Adjust the values of some inputs to the NPV calculation
• By their probability of occurring
• Example: Multiply Sales by a probability ( < 100%)
3. Options Pricing (Real Options or Expected Commercial Value)
90. • When examining new project, tendency to look at total project cost
• However, this assumes that either you spend zero dollars or the full
project cost
• But this is not the case, if you adopt a lean or real options approach
• This approach assumes that any project advances through a series of
stages (Bob Cooper’s Stage gate) and that at each gate you can
decide to continue or not to continue
• These gates are not simply project milestones, but specific points
where you gather enough evidence to justify continuing
• In general, each stage eliminates a project risk, if the risk is not
eliminated then the project is cancelled
• These risks include: technical, market, financial and operational risks
Why Real Options is so powerful
91. • Value of the project if successful is $50M… based on DCF of future
incomes stream
• Costs:
– Development cost: $3M
– Commercialization (Launch) cost: $3M
– Detailed Investigation (prepare Business Case): $700K
– Preliminary Investigation: $300K
• But…
– Only 70% chance of commercial success if we Launch
– And 70% chance of success of technical success in Development
– 60% likelihood the Detailed Investigation will be positive
– Only 50% chance the Preliminary Investigation will be positive
• Would you invest? (Total investment is $7M)
Looks like a pretty risky investment!
Expected commercial value - example
92. • What’s the probability of success?
– .70 x .70 x . 60 x .50
– That is, only 14.7% chance of success
• Total investment is $7M
• But big pay-offs: $50M
• Would you invest?
Source: Winning at New Products, Robert G. Cooper, 2011, 4th Edition. Refer to page 243 and to Portfolio Management for New Products, endnote 1 for the detailed explanations.
Three Methods to Estimate Probabilities:
Delphi (modified)
Data Tables
Scoring Model
How does one handle the calculations for these risky investments?
Break the project into stages
Introduce probabilities
Use Decision Tree Analysis to determine the ECV
Would you invest?
96. Innovation exercise 4
We have identified several alternate ways to evaluate your current
portfolio
Buckets
Financial (NPV)
Financial (IRR)
Strategic (Market)
Real options
Choose one of these techniques to look at a three or four of your
companies current innovation projects, to see if they build a
portfolio of innovation opportunities in your company, or if you
are working on too many incremental innovations