SlideShare a Scribd company logo
1 of 68
hi
hi, i’m noah
Let’s start with three quotes.
"What part of this don't you understand? If two blades is good, and three
blades is be er, obviously ve blades would make us the best fucking razor
that ever existed. Comprende? We didn't claw our way to the top of the
razor game by clinging to the two-blade industry standard. We got here by
taking chances. Well, ve blades is the biggest chance of all."

- "Fuck Everything We’re Doing Five Blades” (   e Onion, 2004)
"Gille e Fusion [the company’s new ve-blade razor] is 'the future of
shaving,' James M. Kilts, Gille e's chairman and chief executive, told
analysts and reporters who had gathered in a Manha an auditorium to
hear the latest news. Not to be outdone in hyperbole, Peter K. Hoffman,
president of Gille e's blades and razors unit, de ned fusion for the crowd -
'a nuclear reaction in which nuclei combine to create power' - and
intimated that the Fusion system's 'breakthrough technology' lives up to
the analogy."

- “Gille e Is Be ing   at Men Want an Even Closer Shave” (New York
Times, 2005)
"Inventors, scientists, engineers, and academics, in the normal pursuit of
scientific knowledge, gave the world in recent times the laser, xerography,
instant photography, and the transistor. In contrast, worshippers of the
marketing concept have bestowed upon mankind such products as new-
fangled potato chips, feminine hygiene deodorant, and the pet rock…."

- "Managing Our Way to Economic Decline." (1980)
What is innovation anyway?
1. Invention (Creation of a new idea or process)
2. Innovation (“Arranging the economic requirements for implementing an
invention”)
3. Diffusion (Adoption and imitation)




                                                            Library of Economics and Liberty: h p://www.econlib.org/library/Enc/Innovation.html
1. Invention (Creation of a new idea or process)
2. Innovation (“Arranging the economic requirements for implementing an
invention”)
3. Diffusion (Adoption and imitation)




                                                            Library of Economics and Liberty: h p://www.econlib.org/library/Enc/Innovation.html
Innovation is essentially a business affair:   e commercialization of a new
idea or process.
" e reason why Schumpeter stressed this difference [between invention
and innovation] is that he saw innovation as a speci c social activity
(function) carried out within the economic sphere and with a commercial
purpose, while inventions in principle can be carried out everywhere and
without any intent of commercialisation. us, for Schumpeter
innovations are novel combinations of knowledge, resources etc. subject to
a empts at commercialization (or carried out in practice)."

- “A Guide to Schumpeter”, Jan Fagerberg
Let’s talk about invention versus innovation.
So for now let's de ne innovation as the adaptation of an existing
invention, idea or process for the purpose of commercialization.
(1) e introduction of a new good-that is one with which consumers are
not yet familiar-or of a new quality of a good. (2) e introduction of a
new method of production, that is one not yet tested by experience in the
branch of manufacture concerned. (3) e opening of a new market, that is
a market into which the particular branch of manufacture of the country in
question has not previously entered, whether or not this market has existed
before. (4) e conquest of a new source of supply of raw materials or half-
manufactured goods, again irrespective of whether this source already
exists or whether it has rst to be created. (5) e carrying out of the new
organization of any industry, like the creation of a monopoly position (for
example through trusti cation) or the breaking up of a monopoly position.
Can something be innovative but not commercially successful?
If commercial viability is the main measure of innovativeness than
innovation is an effect, not a cause: A measure of success, not a part of the
process.
Innovation = Invention + Adaptation to the market + Diffusion
Agency Report Card

Diffusion
Agency Report Card

Diffusion             A+
Agency Report Card

Diffusion             A+

Adaptation
Agency Report Card

Diffusion             A+

Adaptation           C-
Agency Report Card

Diffusion             A+

Adaptation           C-

Invention
Agency Report Card

Diffusion             A+

Adaptation           C-

Invention            D-
Agency Report Card

Diffusion             A+

Adaptation           C-

Invention            D-
Bank of America “Keep the Change”
Fiat eco:Drive
Fiat eco:Drive
Domino’s Tivo
Domino’s Tivo
Got some other good examples?
"As long as they are not carried into practice, inventions are economically
irrelevant. And to carry an improvement into effect is a task entirely
different from the inventing of it, and a task, moreover, requiring entirely
different kinds of aptitudes. Although entrepreneurs of course may be
inventors just as they may be capitalists, they are inventors not by nature of
their function by by coincidence and vice versa. Besides, the innovations
which it is the function of entrepreneurs to carry out need not necessarily
be any inventions at all. It is, therefore, not advisable, and it may be
downright misleading, to stress the element of invention as much as many
writers do."

- Josef Shumpeter,    e   eory of Economic Development
So agencies really want to work more on this stuff, how do they make it
happen? And is it really something they should be doing and are good at?
And now back step one: Invention.
Got any good examples of agency invention?
Magnetosphere
Magnetosphere
Skimmer
Qapture
Tap Project
Tap Project
Basecamp
Lead user innovation
" e greater the bene t a given user can obtain from a needed novel
product or process, the greater his effort to obtain a solution will be. ... I
therefore reason that users able to obtain the highest net bene t from the
solution to a given new product (or process or service) need will be the
ones who have devoted the most resources to understanding it." 

- Eric Von Hippel, “Lead Users: A Source of Novel Product Concepts”
"Sometimes lead users may have developed complete new products
responsive to their need."
Google News
"Since around 2000, we let engineers spend 20% of their time working on
whatever they want, and we trust that they'll build interesting things. A er
September 11, one of our researchers, Krishna Bharat, would go to 10 or
15 news sites each day looking for information about the case. And he
thought, Why don't I write a program to do this? So Krishna, who's an
expert in arti cial intelligence, used a Web crawler to cluster articles. He
later emailed it around the company. My office mate and I got it, and we
were like, ' is isn't just a cool li le tool for Krishna. We could add more
sources and build this into a great product.' at's how Google News came
about. Krishna did not intend to build a product, but he accidentally gave
us the idea for one. We let engineers spend 20% of their time working on
whatever they want, and we trust that they'll build interesting things."

- Marissa Mayer, “Marissa Mayer’s 9 Principles of Innovation”
Behance Action Book
What need do agencies have that they might be able to invent a solution to
that they could bring to market?
What about turning your process into a product?
IDEO’s Human Centered
    Design Toolkit
Interbrand’s Best Global Brands
e best place to get started making things is to solve your own problems.
"We teach kids to do all sorts of things, but we don’t teach them to think
about things in the inventive way — and why don’t we? It’s something you
should be alert for from earliest childhood. You should be conscious that
when you do devise something, when you ll a gap, you have invented. I’d
love to see kids thinking in that way, and growing up to be adults that think
in that way… that solve their own problems, and acquire stuff for
themselves that they want, whether or not it can be bought off the shelf.
   e process of doing it is absurdly easy… it’s ridiculously easy to get a
machine shop to build you a gizmo. You sketch it, they’ll help you make it,
you try it, and if it doesn’t work, you make another. You can’t imagine how
much fun that is."

- Garre Brown, inventor of Steadicam
My First Tweet
How Much Does it Buy?
Parting thoughts (aka I wanted to nd somewhere to t this stuff in but I
wasn’t sure where)
Never stop noticing.
e value of serendipity.
Iterate, iterate, iterate.
Find the inefficient market
Making stuff ma ers.
"And let it be noted that there is no more delicate ma er to take in hand,
nor more dangerous to conduct, nor more doubtful in its success, than to
set up as a leader in the introduction of changes. For he who innovates will
have for his enemies all those who are well off under the existing order of
things, and only lukewarm supporters in those who might be be er off
under the new. is lukewarm temper arises partly from the fear of
adversaries who have the laws on their side, and partly from the incredulity
of mankind, who will never admit the merit of anything new, until they
have seen it proved by the event. e result, however, is that whenever the
enemies of change make an a ack, they do so with all the zeal of partisans,
while the others defend themselves so feebly as to endanger both
themselves and their cause."

- Niccolò Machiavelli,   e Prince
the end

More Related Content

What's hot

Innovation vs. Best Practice
Innovation vs. Best PracticeInnovation vs. Best Practice
Innovation vs. Best Practice
Eric Reiss
 
Diffusion, Adopters and Innovation
Diffusion, Adopters and InnovationDiffusion, Adopters and Innovation
Diffusion, Adopters and Innovation
R. Sosa
 
2010-6-17 JW Graham talk
2010-6-17 JW Graham talk 2010-6-17 JW Graham talk
2010-6-17 JW Graham talk
Steven Woods
 
Understand the Barriers to Innovation in 5 Minutes
Understand the Barriers to Innovation in 5 MinutesUnderstand the Barriers to Innovation in 5 Minutes
Understand the Barriers to Innovation in 5 Minutes
Gordon Graham
 

What's hot (20)

From ideas to innovation
From ideas to innovationFrom ideas to innovation
From ideas to innovation
 
Open innovation: only two things to remember
Open innovation: only two things to rememberOpen innovation: only two things to remember
Open innovation: only two things to remember
 
Innovation and Entrepreneurship
Innovation and EntrepreneurshipInnovation and Entrepreneurship
Innovation and Entrepreneurship
 
8 steps to innovation: An introduction
8 steps to innovation: An introduction8 steps to innovation: An introduction
8 steps to innovation: An introduction
 
Innovation vs. Best Practice
Innovation vs. Best PracticeInnovation vs. Best Practice
Innovation vs. Best Practice
 
Innovation Tools & Processes | 2016
Innovation Tools & Processes | 2016Innovation Tools & Processes | 2016
Innovation Tools & Processes | 2016
 
Diffusion, Adopters and Innovation
Diffusion, Adopters and InnovationDiffusion, Adopters and Innovation
Diffusion, Adopters and Innovation
 
2010-6-17 JW Graham talk
2010-6-17 JW Graham talk 2010-6-17 JW Graham talk
2010-6-17 JW Graham talk
 
10 misconceptions on innovation
10 misconceptions on innovation10 misconceptions on innovation
10 misconceptions on innovation
 
Innovator Interview: Sandy Sanzero, Sandia National Laboratories
Innovator Interview: Sandy Sanzero, Sandia National LaboratoriesInnovator Interview: Sandy Sanzero, Sandia National Laboratories
Innovator Interview: Sandy Sanzero, Sandia National Laboratories
 
Innovation Theories & Models | 2016
Innovation Theories & Models | 2016Innovation Theories & Models | 2016
Innovation Theories & Models | 2016
 
8 steps to innovations
8 steps to innovations8 steps to innovations
8 steps to innovations
 
A Strategic Approach to Open Innovation - Jeffrey Phillips
A Strategic Approach to Open Innovation - Jeffrey PhillipsA Strategic Approach to Open Innovation - Jeffrey Phillips
A Strategic Approach to Open Innovation - Jeffrey Phillips
 
Understand the Barriers to Innovation in 5 Minutes
Understand the Barriers to Innovation in 5 MinutesUnderstand the Barriers to Innovation in 5 Minutes
Understand the Barriers to Innovation in 5 Minutes
 
5 Ways to Innovate
5 Ways to Innovate5 Ways to Innovate
5 Ways to Innovate
 
Innovation And Entrepreneurship
Innovation And EntrepreneurshipInnovation And Entrepreneurship
Innovation And Entrepreneurship
 
Innovators under 35
Innovators under 35Innovators under 35
Innovators under 35
 
E leader Conference 2013 Ljubljana
E leader Conference 2013 LjubljanaE leader Conference 2013 Ljubljana
E leader Conference 2013 Ljubljana
 
Open innovation: Past, Present and Future Aspects
Open innovation: Past, Present and Future Aspects Open innovation: Past, Present and Future Aspects
Open innovation: Past, Present and Future Aspects
 
Innovation at Israel Mobile Monetization Summit
Innovation at Israel Mobile Monetization SummitInnovation at Israel Mobile Monetization Summit
Innovation at Israel Mobile Monetization Summit
 

Viewers also liked

Innovation and Strategic Growth
Innovation and Strategic GrowthInnovation and Strategic Growth
Innovation and Strategic Growth
Idris Mootee
 
Imitation and innovation and invention of information texts
Imitation and innovation and invention of information textsImitation and innovation and invention of information texts
Imitation and innovation and invention of information texts
Whetley
 
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model DesignEntrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
Chris Corbishley
 
Stress management
Stress managementStress management
Stress management
Rajat Gupta
 
Brand positioning & strategy
Brand positioning & strategy Brand positioning & strategy
Brand positioning & strategy
Dominic Mackenzie
 

Viewers also liked (20)

Innovation can be Trained
Innovation can be TrainedInnovation can be Trained
Innovation can be Trained
 
Innovation and Strategic Growth
Innovation and Strategic GrowthInnovation and Strategic Growth
Innovation and Strategic Growth
 
Understand Innovation in 5 Minutes
Understand Innovation in 5 MinutesUnderstand Innovation in 5 Minutes
Understand Innovation in 5 Minutes
 
Business Model Innovation Matters
Business Model Innovation MattersBusiness Model Innovation Matters
Business Model Innovation Matters
 
Innovation or creative imitation
Innovation or creative imitation  Innovation or creative imitation
Innovation or creative imitation
 
Imitation and innovation and invention of information texts
Imitation and innovation and invention of information textsImitation and innovation and invention of information texts
Imitation and innovation and invention of information texts
 
Noah Brier: How to build web apps
Noah Brier: How to build web appsNoah Brier: How to build web apps
Noah Brier: How to build web apps
 
Réseaux sociaux et services d'information
Réseaux sociaux et services d'informationRéseaux sociaux et services d'information
Réseaux sociaux et services d'information
 
Unmanaging: Unleashing the Creative Beast
Unmanaging: Unleashing the Creative BeastUnmanaging: Unleashing the Creative Beast
Unmanaging: Unleashing the Creative Beast
 
Can your company survive without connectedness?
Can your company survive without connectedness?Can your company survive without connectedness?
Can your company survive without connectedness?
 
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model DesignEntrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
Entrepreneurial Smart Camp: Imitation vs. Innovation in Business Model Design
 
Steve jobs innovator
Steve jobs innovatorSteve jobs innovator
Steve jobs innovator
 
Innovation
InnovationInnovation
Innovation
 
Les usages des Réseaux Sociaux d’Entreprise (RSE)
Les usages des Réseaux Sociaux d’Entreprise (RSE)Les usages des Réseaux Sociaux d’Entreprise (RSE)
Les usages des Réseaux Sociaux d’Entreprise (RSE)
 
EIA2016 Turin - Ravi Belani. Startup Funding
EIA2016 Turin - Ravi Belani. Startup Funding			EIA2016 Turin - Ravi Belani. Startup Funding
EIA2016 Turin - Ravi Belani. Startup Funding
 
Invention & Innovation (Introduction)
Invention & Innovation (Introduction)Invention & Innovation (Introduction)
Invention & Innovation (Introduction)
 
Business Innovation
Business InnovationBusiness Innovation
Business Innovation
 
Stress management
Stress managementStress management
Stress management
 
iMentor Steve Jobs
iMentor Steve JobsiMentor Steve Jobs
iMentor Steve Jobs
 
Brand positioning & strategy
Brand positioning & strategy Brand positioning & strategy
Brand positioning & strategy
 

Similar to Thinking About Innovation

Similar to Thinking About Innovation (20)

Mktg. 7 chapter 4
Mktg. 7 chapter 4Mktg. 7 chapter 4
Mktg. 7 chapter 4
 
Nick De Mey (Board of Innovation) - Innovate like a startup
Nick De Mey (Board of Innovation) - Innovate like a startupNick De Mey (Board of Innovation) - Innovate like a startup
Nick De Mey (Board of Innovation) - Innovate like a startup
 
Where do new ideas come from
Where do new ideas come fromWhere do new ideas come from
Where do new ideas come from
 
Unit 1
Unit 1Unit 1
Unit 1
 
Innovation Skill
Innovation SkillInnovation Skill
Innovation Skill
 
"Why Apple can create blockbusters?" ~ Re-think: Product Planning
"Why Apple can create blockbusters?" ~ Re-think: Product Planning"Why Apple can create blockbusters?" ~ Re-think: Product Planning
"Why Apple can create blockbusters?" ~ Re-think: Product Planning
 
Technological Innovation.pptx
Technological Innovation.pptxTechnological Innovation.pptx
Technological Innovation.pptx
 
Entrepreneurship. Session #1. Idea and realization.
Entrepreneurship. Session #1. Idea and realization.Entrepreneurship. Session #1. Idea and realization.
Entrepreneurship. Session #1. Idea and realization.
 
Innovation and other useless Things
Innovation and other useless ThingsInnovation and other useless Things
Innovation and other useless Things
 
22 unexpected things about digital innovation that have changed your business
22 unexpected things about digital innovation that have changed your business22 unexpected things about digital innovation that have changed your business
22 unexpected things about digital innovation that have changed your business
 
INNOVATE- AN ARTICLE
INNOVATE- AN ARTICLEINNOVATE- AN ARTICLE
INNOVATE- AN ARTICLE
 
L10 The Innovator's Dilemma
L10 The Innovator's DilemmaL10 The Innovator's Dilemma
L10 The Innovator's Dilemma
 
Innovation training and transformational management in Belgrade Serbia
Innovation training and transformational management in Belgrade SerbiaInnovation training and transformational management in Belgrade Serbia
Innovation training and transformational management in Belgrade Serbia
 
Евгений Буфф: Инновации: поиск и коммерциализация
Евгений Буфф: Инновации: поиск и коммерциализацияЕвгений Буфф: Инновации: поиск и коммерциализация
Евгений Буфф: Инновации: поиск и коммерциализация
 
ONR Innovation Newsletter
ONR Innovation NewsletterONR Innovation Newsletter
ONR Innovation Newsletter
 
Office of Naval Research Innovation Newsletter | June 2010
Office of Naval Research Innovation Newsletter | June 2010Office of Naval Research Innovation Newsletter | June 2010
Office of Naval Research Innovation Newsletter | June 2010
 
L10 The Innovator's Dilemma
L10 The Innovator's DilemmaL10 The Innovator's Dilemma
L10 The Innovator's Dilemma
 
Lecture 8: Creative Organizations
Lecture 8: Creative OrganizationsLecture 8: Creative Organizations
Lecture 8: Creative Organizations
 
Unit 1
Unit 1Unit 1
Unit 1
 
Presentation: Harnessing the Collective Wisdom of the Crowd
Presentation: Harnessing the Collective Wisdom of the CrowdPresentation: Harnessing the Collective Wisdom of the Crowd
Presentation: Harnessing the Collective Wisdom of the Crowd
 

More from Noah Brier

How I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the InternetHow I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the Internet
Noah Brier
 
Making Stuff on the Internet
Making Stuff on the InternetMaking Stuff on the Internet
Making Stuff on the Internet
Noah Brier
 
Brand Vs Utility
Brand Vs UtilityBrand Vs Utility
Brand Vs Utility
Noah Brier
 

More from Noah Brier (10)

Brand Tags & The Advantage of Small Products
Brand Tags & The Advantage of Small ProductsBrand Tags & The Advantage of Small Products
Brand Tags & The Advantage of Small Products
 
Everything is Media
Everything is MediaEverything is Media
Everything is Media
 
How to Build a Web App (for Non-Programmers)
How to Build a Web App (for Non-Programmers)How to Build a Web App (for Non-Programmers)
How to Build a Web App (for Non-Programmers)
 
Brand Tags
Brand TagsBrand Tags
Brand Tags
 
How I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the InternetHow I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the Internet
 
How I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the InternetHow I Learned to Stop Worrying and Love the Internet
How I Learned to Stop Worrying and Love the Internet
 
Making Stuff on the Internet
Making Stuff on the InternetMaking Stuff on the Internet
Making Stuff on the Internet
 
Brand Vs Utility
Brand Vs UtilityBrand Vs Utility
Brand Vs Utility
 
The Great Re-bundling Debate: Should Media and Creative Come Back Together?
The Great Re-bundling Debate: Should Media and Creative Come Back Together?The Great Re-bundling Debate: Should Media and Creative Come Back Together?
The Great Re-bundling Debate: Should Media and Creative Come Back Together?
 
Noah Brier on Social Media
Noah Brier on Social MediaNoah Brier on Social Media
Noah Brier on Social Media
 

Recently uploaded

What is paper chromatography, principal, procedure,types, diagram, advantages...
What is paper chromatography, principal, procedure,types, diagram, advantages...What is paper chromatography, principal, procedure,types, diagram, advantages...
What is paper chromatography, principal, procedure,types, diagram, advantages...
srcw2322l101
 
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
NewBase   17 May  2024  Energy News issue - 1725 by Khaled Al Awadi_compresse...NewBase   17 May  2024  Energy News issue - 1725 by Khaled Al Awadi_compresse...
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
Khaled Al Awadi
 

Recently uploaded (20)

Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
 
What is paper chromatography, principal, procedure,types, diagram, advantages...
What is paper chromatography, principal, procedure,types, diagram, advantages...What is paper chromatography, principal, procedure,types, diagram, advantages...
What is paper chromatography, principal, procedure,types, diagram, advantages...
 
NFS- Operations Presentation - Recurrent
NFS- Operations Presentation - RecurrentNFS- Operations Presentation - Recurrent
NFS- Operations Presentation - Recurrent
 
Falcon Invoice Discounting Setup for Small Businesses
Falcon Invoice Discounting Setup for Small BusinessesFalcon Invoice Discounting Setup for Small Businesses
Falcon Invoice Discounting Setup for Small Businesses
 
Copyright: What Creators and Users of Art Need to Know
Copyright: What Creators and Users of Art Need to KnowCopyright: What Creators and Users of Art Need to Know
Copyright: What Creators and Users of Art Need to Know
 
Stages of Startup Funding - An Explainer
Stages of Startup Funding - An ExplainerStages of Startup Funding - An Explainer
Stages of Startup Funding - An Explainer
 
tekAura | Desktop Procedure Template (2016)
tekAura | Desktop Procedure Template (2016)tekAura | Desktop Procedure Template (2016)
tekAura | Desktop Procedure Template (2016)
 
بروفايل شركة ميار الخليج للاستشارات الهندسية.pdf
بروفايل شركة ميار الخليج للاستشارات الهندسية.pdfبروفايل شركة ميار الخليج للاستشارات الهندسية.pdf
بروفايل شركة ميار الخليج للاستشارات الهندسية.pdf
 
Raising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE VenturesRaising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE Ventures
 
stock price prediction using machine learning
stock price prediction using machine learningstock price prediction using machine learning
stock price prediction using machine learning
 
Powers and Functions of CPCB - The Water Act 1974.pdf
Powers and Functions of CPCB - The Water Act 1974.pdfPowers and Functions of CPCB - The Water Act 1974.pdf
Powers and Functions of CPCB - The Water Act 1974.pdf
 
Creative Ideas for Interactive Team Presentations
Creative Ideas for Interactive Team PresentationsCreative Ideas for Interactive Team Presentations
Creative Ideas for Interactive Team Presentations
 
How to Maintain Healthy Life style.pptx
How to Maintain  Healthy Life style.pptxHow to Maintain  Healthy Life style.pptx
How to Maintain Healthy Life style.pptx
 
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
NewBase   17 May  2024  Energy News issue - 1725 by Khaled Al Awadi_compresse...NewBase   17 May  2024  Energy News issue - 1725 by Khaled Al Awadi_compresse...
NewBase 17 May 2024 Energy News issue - 1725 by Khaled Al Awadi_compresse...
 
TriStar Gold Corporate Presentation May 2024
TriStar Gold Corporate Presentation May 2024TriStar Gold Corporate Presentation May 2024
TriStar Gold Corporate Presentation May 2024
 
LinkedIn Masterclass Techweek 2024 v4.1.pptx
LinkedIn Masterclass Techweek 2024 v4.1.pptxLinkedIn Masterclass Techweek 2024 v4.1.pptx
LinkedIn Masterclass Techweek 2024 v4.1.pptx
 
Daftar Rumpun, Pohon, dan Cabang Ilmu (2024).pdf
Daftar Rumpun, Pohon, dan Cabang Ilmu (2024).pdfDaftar Rumpun, Pohon, dan Cabang Ilmu (2024).pdf
Daftar Rumpun, Pohon, dan Cabang Ilmu (2024).pdf
 
Global Internal Audit Standards 2024.pdf
Global Internal Audit Standards 2024.pdfGlobal Internal Audit Standards 2024.pdf
Global Internal Audit Standards 2024.pdf
 
How Do Venture Capitalists Make Decisions?
How Do Venture Capitalists Make Decisions?How Do Venture Capitalists Make Decisions?
How Do Venture Capitalists Make Decisions?
 
wagamamaLab presentation @MIT 20240509 IRODORI
wagamamaLab presentation @MIT 20240509 IRODORIwagamamaLab presentation @MIT 20240509 IRODORI
wagamamaLab presentation @MIT 20240509 IRODORI
 

Thinking About Innovation

  • 1. hi
  • 3.
  • 4.
  • 5.
  • 6.
  • 7. Let’s start with three quotes.
  • 8. "What part of this don't you understand? If two blades is good, and three blades is be er, obviously ve blades would make us the best fucking razor that ever existed. Comprende? We didn't claw our way to the top of the razor game by clinging to the two-blade industry standard. We got here by taking chances. Well, ve blades is the biggest chance of all." - "Fuck Everything We’re Doing Five Blades” ( e Onion, 2004)
  • 9. "Gille e Fusion [the company’s new ve-blade razor] is 'the future of shaving,' James M. Kilts, Gille e's chairman and chief executive, told analysts and reporters who had gathered in a Manha an auditorium to hear the latest news. Not to be outdone in hyperbole, Peter K. Hoffman, president of Gille e's blades and razors unit, de ned fusion for the crowd - 'a nuclear reaction in which nuclei combine to create power' - and intimated that the Fusion system's 'breakthrough technology' lives up to the analogy." - “Gille e Is Be ing at Men Want an Even Closer Shave” (New York Times, 2005)
  • 10. "Inventors, scientists, engineers, and academics, in the normal pursuit of scientific knowledge, gave the world in recent times the laser, xerography, instant photography, and the transistor. In contrast, worshippers of the marketing concept have bestowed upon mankind such products as new- fangled potato chips, feminine hygiene deodorant, and the pet rock…." - "Managing Our Way to Economic Decline." (1980)
  • 12. 1. Invention (Creation of a new idea or process) 2. Innovation (“Arranging the economic requirements for implementing an invention”) 3. Diffusion (Adoption and imitation) Library of Economics and Liberty: h p://www.econlib.org/library/Enc/Innovation.html
  • 13. 1. Invention (Creation of a new idea or process) 2. Innovation (“Arranging the economic requirements for implementing an invention”) 3. Diffusion (Adoption and imitation) Library of Economics and Liberty: h p://www.econlib.org/library/Enc/Innovation.html
  • 14. Innovation is essentially a business affair: e commercialization of a new idea or process.
  • 15. " e reason why Schumpeter stressed this difference [between invention and innovation] is that he saw innovation as a speci c social activity (function) carried out within the economic sphere and with a commercial purpose, while inventions in principle can be carried out everywhere and without any intent of commercialisation. us, for Schumpeter innovations are novel combinations of knowledge, resources etc. subject to a empts at commercialization (or carried out in practice)." - “A Guide to Schumpeter”, Jan Fagerberg
  • 16. Let’s talk about invention versus innovation.
  • 17. So for now let's de ne innovation as the adaptation of an existing invention, idea or process for the purpose of commercialization.
  • 18. (1) e introduction of a new good-that is one with which consumers are not yet familiar-or of a new quality of a good. (2) e introduction of a new method of production, that is one not yet tested by experience in the branch of manufacture concerned. (3) e opening of a new market, that is a market into which the particular branch of manufacture of the country in question has not previously entered, whether or not this market has existed before. (4) e conquest of a new source of supply of raw materials or half- manufactured goods, again irrespective of whether this source already exists or whether it has rst to be created. (5) e carrying out of the new organization of any industry, like the creation of a monopoly position (for example through trusti cation) or the breaking up of a monopoly position.
  • 19. Can something be innovative but not commercially successful?
  • 20. If commercial viability is the main measure of innovativeness than innovation is an effect, not a cause: A measure of success, not a part of the process.
  • 21. Innovation = Invention + Adaptation to the market + Diffusion
  • 25. Agency Report Card Diffusion A+ Adaptation C-
  • 26. Agency Report Card Diffusion A+ Adaptation C- Invention
  • 27. Agency Report Card Diffusion A+ Adaptation C- Invention D-
  • 28. Agency Report Card Diffusion A+ Adaptation C- Invention D-
  • 29. Bank of America “Keep the Change”
  • 34. Got some other good examples?
  • 35. "As long as they are not carried into practice, inventions are economically irrelevant. And to carry an improvement into effect is a task entirely different from the inventing of it, and a task, moreover, requiring entirely different kinds of aptitudes. Although entrepreneurs of course may be inventors just as they may be capitalists, they are inventors not by nature of their function by by coincidence and vice versa. Besides, the innovations which it is the function of entrepreneurs to carry out need not necessarily be any inventions at all. It is, therefore, not advisable, and it may be downright misleading, to stress the element of invention as much as many writers do." - Josef Shumpeter, e eory of Economic Development
  • 36. So agencies really want to work more on this stuff, how do they make it happen? And is it really something they should be doing and are good at?
  • 37. And now back step one: Invention.
  • 38. Got any good examples of agency invention?
  • 47. " e greater the bene t a given user can obtain from a needed novel product or process, the greater his effort to obtain a solution will be. ... I therefore reason that users able to obtain the highest net bene t from the solution to a given new product (or process or service) need will be the ones who have devoted the most resources to understanding it."  - Eric Von Hippel, “Lead Users: A Source of Novel Product Concepts”
  • 48.
  • 49. "Sometimes lead users may have developed complete new products responsive to their need."
  • 51. "Since around 2000, we let engineers spend 20% of their time working on whatever they want, and we trust that they'll build interesting things. A er September 11, one of our researchers, Krishna Bharat, would go to 10 or 15 news sites each day looking for information about the case. And he thought, Why don't I write a program to do this? So Krishna, who's an expert in arti cial intelligence, used a Web crawler to cluster articles. He later emailed it around the company. My office mate and I got it, and we were like, ' is isn't just a cool li le tool for Krishna. We could add more sources and build this into a great product.' at's how Google News came about. Krishna did not intend to build a product, but he accidentally gave us the idea for one. We let engineers spend 20% of their time working on whatever they want, and we trust that they'll build interesting things." - Marissa Mayer, “Marissa Mayer’s 9 Principles of Innovation”
  • 53. What need do agencies have that they might be able to invent a solution to that they could bring to market?
  • 54. What about turning your process into a product?
  • 55. IDEO’s Human Centered Design Toolkit
  • 57. e best place to get started making things is to solve your own problems.
  • 58. "We teach kids to do all sorts of things, but we don’t teach them to think about things in the inventive way — and why don’t we? It’s something you should be alert for from earliest childhood. You should be conscious that when you do devise something, when you ll a gap, you have invented. I’d love to see kids thinking in that way, and growing up to be adults that think in that way… that solve their own problems, and acquire stuff for themselves that they want, whether or not it can be bought off the shelf. e process of doing it is absurdly easy… it’s ridiculously easy to get a machine shop to build you a gizmo. You sketch it, they’ll help you make it, you try it, and if it doesn’t work, you make another. You can’t imagine how much fun that is." - Garre Brown, inventor of Steadicam
  • 60. How Much Does it Buy?
  • 61. Parting thoughts (aka I wanted to nd somewhere to t this stuff in but I wasn’t sure where)
  • 63. e value of serendipity.
  • 67. "And let it be noted that there is no more delicate ma er to take in hand, nor more dangerous to conduct, nor more doubtful in its success, than to set up as a leader in the introduction of changes. For he who innovates will have for his enemies all those who are well off under the existing order of things, and only lukewarm supporters in those who might be be er off under the new. is lukewarm temper arises partly from the fear of adversaries who have the laws on their side, and partly from the incredulity of mankind, who will never admit the merit of anything new, until they have seen it proved by the event. e result, however, is that whenever the enemies of change make an a ack, they do so with all the zeal of partisans, while the others defend themselves so feebly as to endanger both themselves and their cause." - Niccolò Machiavelli, e Prince