Innovation Types & Phases

8/14/2019 Innovation Types & Phases

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INNOVATIONNNOVATION&YPES PHASES&YPES PHASES

{ }Monirba Allahabad universitySupported by (Manish kanojia MBA III

}sem Byyayank Mishraayank Mishra


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Agenda

What is innovation?.Objectives

Types of innovation

Effectiveness Criteria for innovation.process.Process of innovation

.Phases of innovation.Failure of innovation

.Causes of failure.Global innovation index

Conclusion


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What is innovation?The term innovation refers to a new wayof doing something. It may refer toincremental and emergent or radical andrevolutionary changes in thinking,products, processes, or organizations.


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Contd..

Traditionally the focus has been on new

products or processes, but recently newbusiness models have come into focus,i.e. the way a firm delivers value andsecures profits.


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Contd...Schumpeter argued that innovation comesabout through new combinations made by anentrepreneur, resulting in

a new product,a new process,opening of new market,new way of organizing the business

new sources of supply


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ObjectivesImproved qualityCreation of new marketsExtension of the product range

Reduced labour costsImproved production processesReduced materialsReduced environmental damage /Replacement of products services

Reduced energy consumption


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Types of Innovation Te ch n o lo g y In n o va tio n Pro d u ct In n o v a tio n

S e rvice In n o va tio n

O p e ra tio n a lIn n o v a tio n C o st In n o va tio n M a n a g e m e n t In n o va tio n

B u sin e ss M o d e l In n o va tio n D isru p tive In n o va tio n


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Process ofnovation

T h e In n o va tio n p ro ce ss ca nb e d e p icte d a s a serie s o f

fu n n e ls e a ch g e ttin g

.p ro g re ssive ly sm a lle r Typ ica lly sixty id e a s in to

th e to p fu n n e l o n lyp ro d u ce s ju st o n e.in n o va tio n

T h e fu n n e ls a re la b e le d a sth e fo u r p h a ses in th e

-p rocess id ea,g e n e ra tio n id e a

,scre e n in g fe a sib ility a n d

.im p le m e n ta tio n


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Phases of Innovation

.ta g i n g P h a s e ,In this phase the Strategic Innovation team, ,is selected key roles are identified the objectives of the

,initiative are established and the team is prepared for theprocess.

li g n i ng P h a s e . The Strategic Innovation team and seniormanagement align themselves on the focus and scope of the

, ( )initiative agreeing on the strategic frontier s to beexplored.


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.xp lo r i n g P h a s e The goal of this phase is thecollection of new insights on the strategic frontier

, -that can form the basis of new value producing business.opportunities in the future Depending on the strategic,frontier and the scope of the initiative teams will

explore insights related to different exploration , , ,vectors including customer value market dynamics

/and or business model innovation.


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ap pi n g P h a s e . ,In this final phase the team will create a, ,strategic road map outlining key events trends market

,discontinuities and milestones to move the company into its newstrategic future

r e a t i n g Ph as e . ,Using the new insights gained the StrategicInnovation team will create and refine a portfolio of new

.business opportunities for the future


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ailure of innovationFailure is an inevitable part of the innovation

.process

,Out of three thousand ideas for new products only one

.becomes a success in the marketplace Fifty to ninety percent of innovation projects

judged to have made little or no contribution toorganizational goals


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Poor Leadership

Poor Organization Poor Communication

Poor goal definition Poor alignment of actions to goals

Poor participation in teams Poor monitoring of results

Causes of failure


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lobal Innovation IndexThe lobal Innovation Indexis a global index

,measuring the level of innovation of a countryproduced jointly by

( ) &The Boston Consulting Group BCG The Natoinal

( ).Association of Manufacturer NAM

( ),The Manufacturing Institute MI the NAM's

.nonpartisan research affiliate NAM describes it as"the largest and most comprehensive global index ofits kind
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Country South Kor

. .U S A Japan

Sweden Netherla Canada

. .U K Germany France

Australi Spain Belgium China Italy India Russia Mexico Brazil


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Conclusionn innovation is one of

hose things thatociety looks at and,ays if we make thisart of the way we live,nd work it will changehe way we live and.ork
http://en.wikipedia.org/wiki/File:Innovation.JPG


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-HANK YOU
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