Innovation is something new, something original out of the existing resources. It may span over : product, process, services, business model, delivery model or thought process or organisational structure
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Leading to innovation
1.
2. Innovation : Facts
• Innovation is something new, something original out of the
existing resources. It may span over : product, process,
services, business model, delivery model or thought
process or organisational structure.
• Innovation is the specific instrument of
entrepreneurship…The act that endows resources with
new capacity to create wealth…..Peter Drucker. In fact both
must go together for success.
• Innovation entails risk taking, pro-activeness & autonomy.
Innovation needs domain knowledge. It is systematic,
organized and a rational work requiring passion.
• Innovation needs out-of-the-box-thinking & is aimed at
meeting challenges.
• Creativity is bedrock of Innovation
3. Ingredients : Individual Creativity…….
• Creativity requires both sides of the brain,
passion, patience and optimism
Doing
• Questioning
• Observing
• Experimenting
• Networking
Thinking
• Associating
Example : Adhesive Tapes by 3M
5. Types
•Incremental : Automobiles
: Emission Standards
•Disruptive : PC
•Architectural: iPhone,
Auto
Impact
•Technological:
Automation
•Economic:Mobile
Banking
•Social : Education,
Healthcare,
Communications :
Scalability at Lower cost
Segment
•Generic : PC, Phone
•Customised:Blackberry,
Mercedes Benz
•MLM(More at Less for
More) : Mobile Phone
Innovation
Concepts
6. Paradigms
• Closed / Strategic :
Military, R&D
• Open : All from Open
Sources
• Reverse : ECG MAC 400
• Crowd-sourcing / Web-
sourcing : Open Feed-
back, Competition
• Co-Creation :
Engagement with all
Stakeholders
Innovation Concepts
Approaches
• Top-Down : Directed by
the leadership :
Attitudes, expectations,
policies, strategies :
Apple, Google
• Bottom-Up :
Emanating from the
individual employees :
Ideas, Experimentation
from Employees :
Toyota, Amazon
7. Reverse Innovation…….
• Innovation in to exploit cheap
brainpower and costs
• Innovation in emerging economies
• Global marketing of product
• Scale and price advantage
Example : GE Healthcare : Mac400
ECG Scanner, MRI Scanner
9. Building & Sustaining Innovation Culture
• Empower employees and their creativity
• Inculcate habit of risk-taking
• Review constantly, eliminate what is not required /
not relevant
• Set stretched targets and give autonomy
• Learn into the future
• Build social forums
• Have system of rewards & recognition
• Celebrate success as well as failure
• Build an ambience of free exchange of
ideas, transparency & learning
10. Building a Lean & High Performance
Innovation Team.......
• Build the right team
• Articulate a Clear Vision
• Build a Culture of Innovation
• Set Inner Rebels Free
• Trust me – You Need Trust
• Stay Lean
• Innovate at Speed
• Stick to Values
11. Competitive Advantage Through Innovation
• New Market / Customer
• Cost Reduction resulting in Better Pricing
• Improvement in Productivity & RoI
– Improved Quality
– Improved/ Additional Features
– Shorter Turn-around Time
• Improvement in Culture
• Improvement in Technology Threshold
• Creating Barriers
12. • Which paradigm to you think was adopted? How did it
gain the competitive edge?(Till 2000, R&D oriented, after that
thrust on open innovation through Connect & Develop, Lower
cost, Best Global Practices, Co-creation & Co-design)
• Which do you think are the most important constituents of
creative culture in P&G? (Free & open thinking for problems
,Networking & Associating, stretched targets)
• Does P&G follow top-down innovation? (Yes)
•
• Is bottom-up innovation followed in P&G? (Yes)
• What should be the approach of P&G to overcome the
current threat? (Thrust on customer focused innovation, Great
New Product Vitality Index, More thrust on open innovation)
Innovation Concepts & Culture : P&G
18. Set Innovation Objective
Formulate Strategy
Define Execution & Monitoring
Mechanism
Implementation Process
Periodic Review
Allocate Resources & Define
Organisational Structure
Boardroom
Activities
Execution ProcessExecution Process
Execution
Environmental Scan
19. Create Real
Values Create an
Enabling
Environment
Empower &
Ensure Support
Mechanism
Identify
Good Ideas
Paint a Clear
Picture : Set
Real Goals
Establish
Ownership
Ensure
Teamwork
Game Plan of the
Organisations
23. Innovation Governance Tools
• Strategy Review
• Financial Involvement
• Review of Board Agenda
• System of Rewards & Recognition
• Organisational Cultural Audit
• Engagement with the Stakeholders
• Integrating War Games into Innovation activities
25. • How effective is the Innovation Governance?
• How is the Innovation Pipeline maintained?
• How has the Eco-system has been created?
• What are the competitive advantages of Apple?
• What do you think are the most looming threats
for Apple? How should it resolve them?
• What should be the role of BoD?
Innovation Eco-system & Governance : Apple
26. Case Study : 3M India:
Innovation Driven
Company
27. Vision : 3M ……
• 3M Technology Advancing Every Company
• 3M Products Enhancing Every Home
• 3M Innovation Improving Every Life
28. Company Values….
Act with uncompromising honesty and integrity in
everything we do.
Satisfy our customers with innovative technology and
superior quality, value and service.
Provide our investors an attractive return through
sustainable, global growth.
Respect our social and physical environment around the
world.
Value and develop our employees’ diverse talents,
initiative and leadership.
Earn the admiration of all those associated with 3M
worldwide.
Company Values………
29. Consumer & Office
Business
Business Verticals……
Display and
Graphic Business
Industrial &
Transportation
Business
Safety, Security &
Protection Services
Business
Electro &
Communication
Health Case
Business
1
2
3
4
5
6
30. 8 Pillars of
Innovation
Quantify
Efforts
6
3
4
Innovation is Not
Possible Without
Broad Base of
Technology
1
From the CEO on
Down, the
Company must be
committed to
Innovation
Set Individual
Expectations &
Reward Employees
for Outstanding
Work
52
Talk, Talk, Talk
7
Research Must
be Tied to
Customer
Corporate
Culture Must be
Actively
Maintained
8
Invest in
People
32. Freedom to
Experiment & Make
Mistakes. Mistakes
(Challenges) also
rewarded
Product Vitality
Index (35-40% :
New Products
Index)
2
3
6
Culture &
Systems
1
15 / 85 Rule
Dual Ladder
Career Track
7
3
65
Encourage to Do
Things Differently
& Efficiently
Successful Idea
Owner Becomes
Entrepreneur
8
Systematic
Analysis of
Opportunities
4
New Products /
Technology
Forum
33. Support for IP
Registration
Complete Office
Resources
15/85 Rule in the
Lab (Respecting
Initiative of an
Individual)
2
45
Allocation of
Resources
1
Funds & Grants (Alpha
Grant, Genesis Grant,
Incubator Fund)
6
Forum for
Discussion of
Innovation
Projects
3
Physical &
Technical
Infrastructure
34. Lean Six Sigma
Total Customer
Focus
Prototyping : A
few Weeks only
2
4
5
Execution
1
6
High Impact Program
(Marketing of Selected
Products I a Short
Time-Frame)
Pollution
Precaution Pays
Close
Monitoring
3
7
Problem Solving
Missions
35. Awards (Path
Finder )
Lunch with
CEO / MD
Factored in Career
Progression
1
3
4
Recognition
& Awards
5
Opportunity to
be the Project
Director
Golden Step Award
for those
successful in new
venture
26
Technology
Sharing Awards
37. Company Values….
The company is in the top 10 Innovators.
Almost 35-40 % and more of the turnover
accounted for products innovated in the last 4-5
years.
15/85 Rule has resulted in killer products such as
Post-it-Notes, Scotch-Brite, Road Dividers,etc.
Company has top retention ratio
Company always amongst the top admired
companies.
Results………
39. Company Values….
Competitive advantage and sustainable growth requires
continuous innovation
Innovation should be central to vision & must stick to
values without any compromise
Pro-active approach with autonomy pays
Set audacious targets and give op freedom
Set sound governance standards
Innovation begins with ideas & creativity. Bolster
creativity in the enterprise
Have a sound eco-system in place for a sustainable and
scalable innovation
It is people, people, people & culture
Lessons………