Lets talk innovation

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    12-May-2015
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see what constitutes innovation, differentiates and innovations around you!

Transcript of Lets talk innovation

  • 1.Lets talkInnovationBy-Arjun Mathur

2. What can you learn from this? What innovation is Why its important The types of innovation The degrees of innovation Whats stopping us? Some examples 10 words 3. What is innovation?"Theintersection of invention and insight, leadingto the creation of social and economic value." 4. Innovation is the thing that separates a leader from a follower! 5. Why is it important? 6. An innovation can increase profitson the value side (customers valuean innovation enough to pay morefor it) . . . 7. . . . or the cost side (the company produces a product offering in a more efficient way).Either way, value is created for the firm and the consumer. 8. The famed New York Times columnist, ThomasFriedman, wrote a column in which he said Americaneeds more jobsSteve Jobs. He meant that innovationand creativity must be nurtured and encouraged to helpthe countries emerge from the global recession. 9. An invention is different from aninnovation at any particular time inthat it doesnt have commercialvalue but . . . 10. . . . it may have in future. 11. Think of invention as the laying of an egg,innovation as the laying, incubation and hatching.Now there is no shortage of ideas and inventions in the world. The challenge is to introduce these successfully to a market.Only then can the idea/invention be called an innovation.. 12. Why is innovation important? 13. Innovation reduces waste and environmental damage. 14. Innovation creates growth, increases productivity, and economic wealth(avoids stagnation). 15. Innovation provides better goods and services at a cheaper price higher standard of living. 16. More interesting work for employees. 17. Old strategies get replicatedand, consequently, margins getsqueezed. 18. Survival! 19. What are the essential ingredients, orelements, of an innovation ecosystem?A better world Shedding status quoRise and fall 20. What are the types of innovation? 21. Numerous types . . . 22. . . . but all these labels just describe where something new, better ordifferent occurs. 23. BROADLY: Product Process Service Business model Value Market 24. . . . and many more, depending onlevel of detail. Basically, innovationcan occur anywhere in the firms business by anyone. We all havegreat potential! 25. StructuredUnstructuredOpen 26. The degrees of innovation. 27. Once again, many labels . . . 28. . . . however, they all describe the degree of change required by theinnovating firm and/or the market. 29. IncrementalSemi-radicalRadical 30. Some cool Innovations! 31. So whats stopping us? 32. Wrong sense of Lack of financialentrepreneurshipsupport Unfriendly curriculum 33. HowTo BeInnovativethen?@##!! 34. OptimismPassionPerceiveEmbraceOpportunity ExperienceAttitudeReboundFocus Thrill 35. Dont be someone who asks what happened? make things happen. Change yourattitude, and youll find that things really canimprove. The year ahead is full ofopportunity, and its yours if you want it!