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Strategic innovation slideshare
Innovation is defined as a new idea, device, or method. It involves introducing something new that is more effective than what is already available. There are three main types of innovation: operational, which improves existing processes; tactical, which introduces new products or services; and strategic, which disrupts existing markets to create new ones. Strategic innovation does not follow existing market rules and takes advantage of weaknesses in the market to differentiate itself. It connects users rather than owning them and relies on users to generate value in order to create new markets and new types of users. For a company to survive disruption, it may need to disrupt itself through strategic innovation.
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Strategic innovation slideshare
- 2. What is innovation? Innovation:( noun ) a new idea, device, or method; the act or process of introducing new ideas, devices or methods. Source: Merriam Webster Dictionary The word “innovation” itself descends from the Latin words in and novare, meaning ‘to make new.’
- 3. What is innovation? Innovationis a new idea, more effective device or process. Innovation can be viewed as the application of better solutions that meet new requirements, inarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.
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- 5. In what departmentin your company does innovation take place?
- 6. Innovation Type Operational (Process) Tactical (Product) Strategic (Business Models) Focus Improving processes tooptimise delivery of an existing product/service to a defined market Improving a market position by introducing new products/services or business model The disruption and destruction of existing markets to create fertile soil for new markets Measurement s Throughput, defects, quality, waste, line downs, yields, ROI Market share, Customer satisfaction, Customer delight, ROI Share price, Funding, Capital, Alliances, bankruptcies, takeovers Department Finance, Quality, Manufacturing HR, Training Marketing, Sales Product Development, Technology development ? Aim Fulfill existing customer need cheaper Understand emerging needs of customers and fulfill Create a need for users they did not even know they had Boundary The company/group The Market(s) ? What is strategic innovation
- 7. Strategic innovation disruptsand destroys
- 10. The Starfish BusinessModel USERS CUSTOMERS SUPPLIERS ADVERTISERS OTHER STARFISH
- 11. Impact: 10x every5 years
- 12. Who are usingstrategic innovation If you don’t explore new business models – you will go extinct McKinsey & Co
- 13. The large playersaccording MIT
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- 15. Find one errorin this picture
- 21. Death of theFunnel Google owns search (Dying) Apple now support add blockers Amazon Prime Exploding Facebook Search used by 1B every day LinkedIn dominates B2B Move from desk to mobile Move from homepage to Apps Nobody is going to find your products or homepage anymore.
- 22. Unicorns are predominantly fromSilicon Valley Unicorns 1B$ Cap 147 total 53 in US 13 in EU 505B$ Cap
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- 25. Why is itimportant
- 26. No Industry issafe
- 27. The operating logicof most companies is to compete in a well defined market
- 28. Economics is thescience of choice in scarcity
- 29. What is needed? Innovationis difficult for well-established companies. By and large, they are better executors than innovators, and most succeed less through game-changing creativity than by optimizing their existing businesses. McKinsey
- 30. Strategic Innovation -disruption Does not accept market rules Takes advantage of asymmetric faults in market Collaborate rather than compete Starfish model: Connects rather than owns Get users to generate value Creates new markets Create new users Differentiate between customers and users Experimental rather than professional
- 31. If you canbe disrupted, you will be disrupted unless you disrupt yourself
- 32. Can you cannibalizeyour own revenue stream?
- 33. The Hedgehog principle Mostcompanies are build around doing one thing really well and effective
- 34. WE ARE ASUCCESSFUL COMPANY
- 35. You will notchange what you believe is perfect
- 36. Rethink your market •From loyalty to empowerment • From efficient to intelligent • From low cost to no cost • From ownership to access
- 37. Time for areflection How could you disrupt your own market and company?
- 38.
- 41. Google Innovation • Differentiatebetween customers and users • Forget ROI – focus on providing max value for user • 20% of time allocated to passion projects • Organisation level does not dictated pay • Minimum 7 direct employees • Focus on user, learn from user, learn about user • Have user generate data, knowledge & Insights • Experimentation over perfection
- 42. Organisations don’t innovate Engagedemployees innovate
- 43.
Editor's Notes
- #4 Meget bred beskrivelse
- #5 Not just an idea It is also an implementation
- #7 It is changing the rules
- #8 Already in full progress although not always visible. 15 years S&P, 4 years CEO, 10 year board member. Difficulty to grow organically Difficulty to grow through operations that capital.
- #9 It feeds on a assymetry in the market
- #10 We already knows that product kill products but this was not what killed Nokia 1991 ad – 22 years killed 13 products – just in this add.
- #11 That was not what killed Nokia – That was the starfish model The app store that made apple win
- #12 The apple starfish plus others now a sizable business and growing. Apple has a runrate of 300M iphones – still growing Unicorns want to grow 10% …… a week
- #20 Launched August 2015
- #21 Facebook messenger search
- #22 Apps are also dead – welcome the bots and assistants: Google Caillou, Apple Siri, Msoft, Cortana, Facebook M
- #23 Their idea of growth is 10% a week! Unicorns Evernote died Blablacar from france Google Apple Microsoft Amazon
- #24 Each of these destroys a market
- #27 Cisco predicts that 40% of todays companies will not exist in 2020 Gartner predicts that by 2017, 20% of all market leaders have lost their number 1 position to a company founded after year 2000.
- #28 Your competitor is not your most likely disruptor
- #29 Airbnb adds the same number of rooms in 2 weeks that marriott does in a year. Uber has 5 times more drivers in SF than the established taxi companies.
- #33 1975 Digital camera made by Kodak
- #34 Can you even look at yourself To create an innovative environment.
- #35 Like all leaders do, Like all humans do, Like all consultants do They create stories that reinforce current behavior
- #36 The company will not change because it think it is perfect. This is how companies are. Killer of creativity, innovation,