measurable items in business : growth in profit debt/equity customer increment reduction in...

Measurable items in business :

Growth in profitDebt/EquityCustomer incrementReduction in maintenance Improving margin and EBITAImproving Market share

….. etc.

Transformational

Innovation

For

SMART

PPE

Category Marketplace

TechnicalInnovation

TransformationalOperational

Operational innovatio

Characteristics :

Improve work life and productivityImproves financial performanceCustomer experience through efficiencies and processes

Operational innovation

Business attributes :

Focus on how to improve companyAllows for cost savingOperates on project management details

Examples :

Assembly line automationComputerised automation systemOnline inventory control

Operational innovatio

Category innovation Characteristics :

More evolutionary than revolutionaryDriven by consumer needsNew breakthroughs or new customer segmentsValid business case

Business attributes :

Profitable, investor friendlyPredictable revenue and time lineLed by business opportunity than technology

Examples :

Intro of RFID and GPSE-commerce or web availabilityMaking CFL to replace lamps

Operational innovatio

Marketplace innovation Characteristics :

Competitive market needImpacts multiple categoryDefined with new features and benefits

Business attributes :

Incremental revenueMaximises cross functional participationLong term potential

Examples :

OVRM in carPayPal, Ola etc.Synthetic glove

Characteristics:

Revolutionary breakthrough changing societyDriven by curiosityProvides benefits to our societyCreates follow on for Category, Marketplace and Operational levels

Examples :

Usage of bio or alternate fuelBio-degradable and recycling materialSocial responsibility

Business attributes :

No defined P&L or timelineAdoption rate unclearRisk-reward ratio is exceptionally higher

Transformational innovation

Resource allocati on Return esti mati on

60%

10%

25%

15%

10%

25%

5%

50%

Transformational

Marketplace

Category

Operational

Incremental innovation

Big corporates use less than 20% of R&D fund in Transformational innovation.

More ideas or Better ideas?

Faster we move an idea to concept, higher is chance of getting concept into market, hence trajectory of growth.

Define the problem before the

brainstorming – keeping in mind we are looking for fewer ideas.

Enable staff to self assess ideas – this will improve

idea quality

Actively manage SN to refine ideas – use

crowdsourcing platforms to generate

feasible ideas

Motivate stake holders – like customers,

vendors etc.Success is a step away!!

1. Is sufficient resources allocated for transformational innovation?

2. Is the idea sourced high quality at front end of our innovation?

3. Is enough time to nurture those ideas into concept for market testing?

Mallcom (India) Ltd.EN 12, Sector V, Salt Lake City

Kolkata 700091, IndiaT: +913340161000, F : +913340161010

E: sales@mallcom.in, W: www.mallcom.in

References :

http://www.innovationexcellence.com/blog/2012/03/25/four-types-of-innovation-%E2%80%93-part-3/

http://www.innovationmanagement.se/2012/07/26/5-key-success-factors-to-enable-transformational-innovation-within-businesses/

http://www.isb.edu/cee/open-enrollment-programme/transformational-leadership-tapping-your-personal-dna

2015

© M

ALLC

OM

. All

right

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and

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logo

Mal

lcom

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of M

allc

om (I

ndia

) Ltd

.Thank you!!