How should we approach innovation?What drives it?Whats the way ahead?

1. New patterns of
innovation

2. REASON FOR FAILURE
➤Managers who are skilled at
executing clearly defined
strategies are ill equipped for out-
of-the-box thinking
➤when good ideas do emerge,
they’re often doomed because the
company is organised to support
one way of doing business and
doesn’t have the processes or
metrics to support a new one

3. HOW DO COMPANIES GO ABOUT?
➤ Business innovation needs to be tackled systematically.
➤ Tested ways of creativity do exist.
Traditional Ways
Competency based-
How to build on assets
and capabilities
Customer Focussed-
What does a close study of
customers tell us?
Following Mega trends
to understand future

4. A NEW APPROACH
➤ Complements Existing framework
➤ Focusses on digital information and tools
➤ Advance in IT facilitates hunt for new business
➤How can we create value for customers using data
and analytic tools we own or could have access to?

5. PATTERNS
1. using data (physical objects generate) to improve a product
2. digitising physical assets
3. combining data within and across industries.
4. trading data
5. codifying a capability - best-in-class capabilities

6. AUGMENTING PRODUCTS TO GENERATE DATA
➤ Feasible to gather and crunch enormous data
➤ Big data
➤ Can improve design, operation, maintenance.
➤ Rolls Royce - power by the hour
➤ SKF’s - Intelligent bearings
➤ Progressive Insurance - Snapshot
➤ Machinery- more reliable

7. DIGITISING ASSETS
Transforming the way people operate
3D printing - digital world to physical object
Digital -health records
Management of digitalisation- new business itself
Long term, secure way to store assets
Shift in competitive advantage
Future- more choices and more tailored services
Reduce in physical and inventory costs

8. COMBINING DATA
➤ Within and across verticals
➤ Data integration and coordination
➤ Network sensors - water, carbon-di-oxide, temperature
➤ IBM- lowered assurance and care costs
➤ Shared-delivery process
➤ Germany- health care integration to improve efficiency
➤ Reliable upstream data - better plant functioning

9. TRADING DATA
➤ Combination of disparate data sets - new offerings
➤ Vodafone and ToMTom
➤ Cell phone data - transit and traffic management, context-
sensitive advertisements
➤ open platform collaboration- IBM, Uk govt.
➤ Also open to wide range of contributors
➤ manage and assess climate related risks
➤ trading data + combining data

10. CODIFYING DISTINCTIVE SERVICE CAPABILITY
➤ Best in class practices can be converted into profitable
business
➤ Cloud computing - “pay as you go”, easy distribution
➤ CitiDirect BE Mobile- online financial services
➤ It uses models to analyse flow of money
➤ Business -> Disruptive platform -> third party
➤ Uk company- agile system for catalog and designing
➤ Automation and Standardisation

11. COMBINING PATTERNS
➤ Initiatives encompass a combination of patterns
➤ smart energy meters- initiative to one whole business
➤ Technology platform for security and entertainment
➤ Gather data on energy usage patterns
➤ Intraday pricing to reflect supply-demand
➤ New business opportunities

12. GETTING STARTED- QUESTIONS
➤ What data do we have
➤ What data can we access which we are not capturing
➤ What data can be created from product and operations
➤ What insights could be developed
➤ How can we use digital nature to improve the value
➤ Could we act as catalyst for value integration
➤ How could our data be structured and analysed
➤ Ask these questions and head back to the patterns

13. WAY FORWARD
➤ Various ideas collated and formalised
➤ Sub groups charged with detailing
➤ Reconvening of present work
➤ IT- quest for new business opportunities
➤ Faster the technology growth, greater the options
➤ Innovate business models and platforms
➤ Utilise and cash in on digital economy

14. CREDITS
➤ HBR- The new pattern of innovation
➤ https://www.slideshare.net/joelcrabb/pattern-of-innovation
➤ Google Images
➤ Wikipedia
THANK YOU