What's so good about Innovation Anyway? - dqg.org · What's so good about Innovation Anyway?...
Transcript of What's so good about Innovation Anyway? - dqg.org · What's so good about Innovation Anyway?...
What's so good about Innovation
Anyway?
Anthony Denatale
Senior Specialist – Innovation and Creativity
Innovation Strategy
HH Sheikh Mohammed Vision 2021
"The UAE is already the most innovative Arab nation. Our target is to be among
the most innovative nations in the world.
The competitiveness race demands a constant flow of new ideas, as well as
innovative leadership using different methods and tools to direct the change,"
HH Sheikh Mohammed bin Rashid Al Maktoum
Before we start!
Innovation can be defined as the development or adoption of new concepts or
ideas, and/or the new or adopted ideas themselves as well as the successful
exploitation of new ideas.
Creativity is having the ideas, and innovation is its application. Creativity only
emerges when the innovator takes the idea and does something with it.
Successful exploitation of new ideas can lead to any form of increased
organizational or social benefit.
What is Innovation?
Joseph Schumpeter defined economic innovation in "Theorie der Wirtschaftlichen
Entwicklung" (1912):
•The introduction of a new goods — that is one with which consumers are not yet
familiar — or of a new quality of goods.
•The introduction of an improved or better method of production, which need by no
means be founded upon a discovery scientifically new, and can also exist in a
better way of handling a commodity commercially.
What is Innovation
•The opening of a new market that is a market into which the particular branch of
manufacture of the country in question has not previously entered, whether or not
this market has existed before.
•The conquest of a new source of supply of raw materials or half-manufactured
goods, again irrespective of whether this source already exists or whether it has
first to be created.
•The carrying out of the better organization of any industry, like the creation of a
monopoly position or the breaking up of a monopoly position.
Does employee innovation lead to happiness?
• Do staff feel happier if they can suggestion innovations?
• Why do you think employees want to innovate?
Yes, but what about innovation in Dubai
• Worlds tallest building Burj Khalifa • First use of Buttressed Core • Y-Shaped design • Worlds fastest elevators
• Dubai Metro • Driverless • Totally automatic • One of the longest automated metros in the world
• Emirates Airlines • Operates biggest passenger aircraft • On-board Lounge • First airline to provide on-board shower
What happens if organizations don’t Innovate
The case of Kodak – A warning in history
•In 1973 the world biggest supplier of camera
film
•1975 Steven Sasson an engineer with Kodak
invents the digital camera
•Kodak management team decide that the
public would never want to view digital picutres.
•Although they patented design and made
billions from the designs they never market the
product themselves.
•Kodak filed for bankruptcy in 2012
Modern Innovation is not just invention
• Worlds biggest retailer owns no stores or inventory – Alibaba
• Worlds biggest taxi company owns no vehicles – Uber
• Worlds biggest room seller owns no property – Airbnb
• Facebook the worlds most popular media owner creates no content
• Amazon the worlds biggest bookseller owns no bookshops
The world is changing and there are new start-ups constantly looking to disrupt the
current market.
So, why DO we need Innovation?
•Can offer you the competitive edge
•If you don’t innovate then your competitors will
•The world is changing constantly
•It will engage your customers and the community
•It will lead to a happier organisation