Entrepreneurship: Gopal Thapa

1. INNOVATION
Dr. Gopal Thapa
Tribhuvan University
Email: thapazee@gmail.com

2. INNOVATION
 Innovation is the successful implementation of
creative ideas within an organization.
 Innovation is the sum of invention and the
commercialization of that invention, through
turning an idea, mainly a creative one, into a
feasible, profitable opportunity.
 All innovation begins with creative ideas.
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3. INNOVATION
 Innovation specialists generally divide innovation
scope into two broad categories: Incremental and
Disruptive Innovation
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4. Incremental Innovation
 An incremental innovation examples focuses on
cost or feature improvements in existing products
or services.
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5. Disruptive Innovation
 Disruptive innovation creates a dramatic change
that transforms existing markets or industries, or
even creates new ones, by introducing
groundbreaking new products.
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6. Incremental Innovation
 Walking on the Safe Side – Incremental
Innovation
 Incremental innovation focuses on continually
making existing products or services more
competitive by focusing on reducing costs and
improving or adding features.
 It is the most popular form of innovation because
of its low level of uncertainty and risk .
 It’s hard to go wrong with incremental innovation.
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7. Incremental Innovation
 Google’s Gmail: When first launched, Gmail had few
features, but did one thing very well.
 As time passed, Google introduced many additional
features and improved its service, making it faster and
better.
 Since then, the company has successfully emulated this
method numerous times with their other products, from
Google Maps to the Chrome internet browser.
 Google rushes to get a simple product to market in order to
quickly stake out market share in emerging industries, then
gradually improves their offering, making it the best in the
field.
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8. Incremental Innovation
 Kodak led the photography industry for years
with incremental, yet steady improvements to
traditional film.
 When the disruptive innovation of digital imaging
was introduced, it revolutionized the way people
captured, stored and used images – making Kodak
obsolete.
 The company had been willing to invest time and
effort in more disruptive innovations, perhaps it
would have remained an industry contender.
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9. Disruptive Innovation
 All or Nothing – Disruptive Innovation
 It explores new technologies and as such is
characterized by a high level of risk and
uncertainty.
 Ironically, disruptive innovation often depends on
incremental improvements, refinements
modifications in complementary technologies.
 Due to the high risk factor, smaller companies or
start-ups usually play important roles in disruptive
innovation
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10. Sources of Innovation
 Unexpected occurrences
 Incongruities
 Market structure
 Necessity
 Demographics
 Changing perception
 New Knowledge
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11. Social Innovation
 Social innovation is the process of developing and
deploying effective solutions to challenging and
often systemic social and environmental issues in
support of social progress.
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12. Social Innovation Process
 Prompts, inspirations and diagnoses
 Proposals and ideas
 Prototyping and pilots
 Sustaining
 Scaling and diffusion
 Scaling and diffusion
 Systematic change
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13. Social Innovation Process
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14. Any queries???
Thank You
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