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The fuzzy front end of Innovation. Transforming Ideas into Profits September 26 th , 2009. Nancy MacCreery Panelists: Mike Londo and Shimon Shmueli. appreciates our sponsors very much. _____________________________________________________________________. Why we are here. - PowerPoint PPT Presentation
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The fuzzy front end of Innovation
Transforming Ideas into ProfitsSeptember 26th, 2009
Nancy MacCreeryPanelists: Mike Londo and Shimon Shmueli
appreciates our sponsors very much
_____________________________________________________________________
Why we are here
Objective: Insights into innovation process
Process:• overview• panel discussion• audience questions
Introductions
Shimon Shmueli • Founder of Touch360, a product design and
innovation firm, • Worldwide marketing manager of ThinkPad
consumer products. • Inventor of the USB Flash Drive. Visionary,
founder and CTO of KeyNetica, which is now part of San Disk
• Speaker / lecturer
Introductions
Mike Londo• Holds six patents • Innovating for the last 25 years • Developed and commercialized new products
ranging from carbonless copier paper to sound enabled school products
• “idea guy”• Published / presented internationally
Introductions
Nancy MacCreery• Marketing professional with innovative focus• Background in process and product
innovations• Worked on product innovation teams, led
brainstorming sessions, and formulated processes to create concepts, names and branding
Why innovation?
Gain competitive advantage• First entry advantage• Satisfy customer needs• Provide a new/better
solution• Enter new markets
Basic Questions
• What is needed? (what do they need?)• What can we do with this? (technology or new
discovery)• Is this the most effective way? (process
innovations)• Do we really need this?• Can we make it sustainable?
Types of innovation
• Business Model – changes in the way you do business (Apple, Dell, IKEA, Intel)
• Process – changes in the way you make, deliver or handle business processes (Wal-Mart, Toyota)
• Product -- product or service change
What is the Fuzzy Front
End?
Innovation Starts Here
Process Diagram
EXPAND IDEA PICK BEST APPLICATION
EXPLORE POSSIBILITIES
IDEA
Develop Value Proposition
Basic Value proposition: What it does to whom; solving
what problem?
Idea generation
Starting with need or technology
Expand idea
What does it do?What problem does it solve?What else can it do?Who else can use it?What do we do with this? Where can we use this?Where else can this be used?
Explore possibilities
Who would use this?What are attractive applications?Is there a market or would we have to create one?Can we make it, can it be made?
Screen/pick best application
Fit with Strategy/MissionCompellingness of needMargin/Profit potentialMarket sizePotential Market growthBarriers to entry – competition, customer powerFit with capabilities/resources
“Killer Application”
• Most viable application from criteria screening
• May need to refine Value Proposition
• Keep in mind: Can this be applied to other markets later?
Questions and Examples
Thank you!
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