presented by henra mayer innocentrix: ceo what is innovation?
TRANSCRIPT
P r e s e n t e d b y H e n r a M a y e r I n n o c e n t r i x : C E O
What is Innovation?
Presentation Structure
What is innovation? Why innovation?What organisations experience when addressing
innovationHow to address innovation imperativesQ&A
3
Defining Innovation
Google Search on Innovation definition: About 2,520,000 results (0.19 seconds) (2008) About 26,400,000 results (0.26 seconds) (2010) About 66,000,000 results (0.10 seconds) (2011)
Web definitions for innovation (http://www.merriam-webster.com/dictionary/innovation)1. the introduction of something new 2. a new idea, method, or device : novelty — in·no·va·tion·al adjective Synonyms: brainchild, coinage, concoction, contrivance, creation, invention, wrinkle !!!!
Innovation definitionNew IdeaImplementValue
Innovation
Types and forms of innovation
Types of innovation:Radical innovationIncremental innovation
Forms of innovation:ProductServiceProcessOrganisationalManagement innovationWhat about social?
The Why of Innovation
Innovation distinguishes between a leader and a follower – Steve Jobs.
Innovation is the central issue in economic prosperity – Michael Porter.
Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow – William Pollard.
Organisational Innovation
Some innovation issues highlighted by organisations:
o Effectively managing ideas – (process)o Allocating responsibility and resources (crowdsourcing)o Successfully impacting on a culture for innovation
(engagement, reward)o Getting ideas to implementation (project management)o Demonstrating business value (measurement/reports)
So what to do.......
Address innovation by thinking about:
How to improve the quality of ideasHow to sort ideas and find the valuable onesHow to create system adoption – by configuring the
platformHow to motivate staff – game mechanics, reward,
recognition and Collaboration
5 Industry Trends on Innovation
TREND 1: Distributed co-creation moves into the mainstream.
TREND 2: Making the network the organization. TREND 3: Collaboration at scale. TREND 4: The age of the multisided business model. TREND 5: Innovating from the bottom of the pyramid.
An article on Mckinsey Quarterly (2010) outlines the top 10 innovation trends in business that are being enabled by new technologies — and shows how these trends are re-shaping the challenges and opportunities for companies.
Thoughts to Ponder...
Customer advantage vs. Competitor Advantage?
Daily behaviours vs. Differentiation
The focus is not on the product or service, it is on finding ways of creating a transformational change in consumers’ everyday life.
Erich Joachimsthaler, founder and CEO of Vivaldi Partners, a strategy, innovation and marketing consulting company, in his newly published book - Hidden In Plain Sight : How to find and execute your company's next big growth strategy
Innovation – Where to Start?
Innovation = Balance and Daring
"Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it." -- Goethe
