Innovation is important in order to make business sustain and viable :)

1. Understand Innovation - @WisnuDewobroto

2. What can you learn from this?
• What innovation is
• Why it’s important
• The types of innovation
• The degrees of innovation

3. What is innovation?
Hundreds of similar
definitions can be
found in the literature.
Here is the one I use,
adapted from various
sources:
“Innovation is the
profitable implementation
of ideas.”

4. An innovation can increase profits on
the value side (customers value an
innovation enough to pay more for it)
. . .
. . . or the cost side (the company produces a product
offering in a more efficient way).

5. ©
Why is innovation important?

6. Innovation reduces waste and
environmental damage.

7. Innovation creates growth, increases
productivity, and economic wealth
(avoids stagnation).

8. Innovation provides better goods
and services at a cheaper price –
higher standard of living.

9. ©
More interesting work for
employees.

10. ©
What are the types of innovation?

11. Numerous types . . .

12. . . . but all these labels just describe
where something new, better or
different occurs.

13. Product
Process
Service
Business model
Value
Market

14. . . . and many more, depending on
level of detail. Basically, innovation
can occur anywhere in the firm’s
business by anyone. We all have
great potential!

15. The degrees of innovation.

16. Once again, many labels . . .

17. ©
. . . however, they all describe the
degree of change required by the
innovating firm and/or the market.

18. ©
Incremental (sometimes called
“continuous” or “evolutionary” or
“small”)

19. Semi-radical

20. Radical (sometimes called
“discontinuous” or “revolutionary”
or “big”)

21. Incremental and radical innovations
need to be managed differently.

22. "Innovation distinguishes between
a leader and a follower."