innovation for power & profit
DESCRIPTION
What is Innovation? How Important Is It? How do you do it?TRANSCRIPT
InnovationFor PowerAnd Profit
Singapore Computer Society September 2009
What is Innovation?
How Important Is It?
How do you do it?
“The business has two basic functions.
Only Marketing & Innovation produce results.
All the rest are just costs.”
Prof. Peter Drucker
Innovation Marketing
Implementation
Marketing 3.0 – Kotler
1. What is Innovation?
PayPal
Banks Were Doing Better Sameness!
Innovation Is NOT
Better Sameness!
Steadily improving what we already do
The Parity Trap.
All make almost same thing.
All make almost same thing.Including small profits!
Significant changes to makesignificantly higher profits.
Why doesn’t every company innovate?
Risk Of Failure.
Famous Failures.
Different + Valuable.
DifferentFrom All The Rest
0
Valuable ToCustomers
DifferentFrom All The Rest
0
*
Valuable ToCustomers
DifferentFrom All The Rest
0
*
Valuable ToCustomers
DifferentFrom All The Rest
0 *Valuable ToCustomers
DifferentFrom All The Rest
0
*
Valuable ToCustomers
DifferentFrom All The Rest
0 *Valuable ToCustomers
Why Innovate?
Survival
Self defence
Market expansion
Diversification
Profitability
Power
To Control Your Own Destiny
How Do You Innovate?
3 Sources
Within your own company.
Culture for Creativity.
Autonomy.
Mastery.
Purpose.
Fast Changing Markets Need 2 Critical Modes.
• Active Waiting
• Alert for Anomalies
From outside your company.
Blend both – Open Innovation.
Open >50% of P&G Initiatives
How About You Personally?
Embrace Change.
Be a Change Agent.
Generate Ideas.
SCAMPER
• Substitute an aspect of it
• Combine elements with something else
• Adapt or Alter an aspect
• Minimize, Magnify or Multiply an aspect
• Put some part of it to other uses
• Eliminate an aspect
• Reverse an aspect
Explore Your Clients’Problems for Ideas.
Make Mistakes.
"The way to succeed is to double your error rate."
Thomas J. Watson Sr.
What is the process?
Innovation Process?
Have Ideas
Production
Innovation Process?
Have Ideas
Production
Innovation Process.
Ideas.Review.
Prototype/POC.Test.
Refine.Implement.
Review.Refine.
Implement.
Ideate Review Prototype/POC Test Implement
CREATIVITY
ANALYSIS
The Innovation Pathway
Refine
Innovation Summary.
• Significant, valuable changes
• Control of your destiny
• Culture & Leadership
• Essential process
• 3 main sources
• You can do it
Innovation Consulting:- Digital Marketing Consultancy
- Digital Advertising & Media Reviews
- Strategy, Structure & Staffing
- Acquisitions & Partnerships
- Culture & Leadership
- Methods & Systems
- Rent-An-Inventor
