INNPVATION

• The Designing Mind


  • Transcends traditional rules and patterns to create meaningful, fresh ideas, interpretations, and solutions
  • Generates multiple and novel ideas and finds multiple approaches for achieving goals
  • Is willing to experiment, to try new ideas over and over again, and learn from mistakes
• Invention


  An idea, a sketch or model for a new or improved device, product, process or system. It has not yet entered to economic system, and most inventions never do so.
• Innovation


  • An idea, practice or object that is perceived as new by an individual or other unit of adoption
  • A use of new knowledge to offer a new product or service that customers want
  • Invention + Commercialization
• Innovation is the search for and the discovery, developed, improvement, adoption and commercialization of new processes, new products and new organization structures and procedures.
• Importance of Innovation to Organization

  • Competitive pressure and the need to survive
  • The management of a firm or enterprise. Managers have to implement change, new processes and improve systems
  • The impact of innovation on organizational life
• Why Innovations Fail


  • Poor leadership
  • Poor organization
  • Poor communication
  • Poor empowerment
  • Knowledge management
  • Poor goal definition
  • Poor alignment of actions to goals
  • Poor monitoring of results
  • R&D efforts are not guided by marketing research, manufacturing capabilities and skills
  • Mere imitation /copy without any increase in value- innovation offers nothing new
  • Customers are not yet ready for such innovation
• Types of Innovation (Oslo Manual)

  • Product innovation : A good or service that is new or significantly improved.
  • Process innovation : new or significantly improved production or delivery method.
  • Marketing innovation :significant changes in product design or packaging, product placement, product promotion or pricing.
  • Organisational innovation :new organisational method in business practices, workplace organisation or external relations.
• Types of Innovation (Kuratko)

  • Invention
  • Extension
  • Duplication
  • Synthesis
• Principles of Innovation


  • Be action oriented
  • Make the product, process, or service simple and understandable
  • Make the product, process, or service customer-based
  • Start small
  • Aim high
  • Try/test/revise
  • Learn from failures
  • Follow a milestone schedule
  • Reward heroic activity
  • Work, work, work
• Rules for Innovation


  • Encourage action
  • Use informal meetings whenever possible
  • Tolerate failure and use it as a learning experience
  • Persist in getting an idea to market
  • Reward innovation for innovation's sake
  • Plan the physical layout of the enterprise to encourage informal communication
  • Expect clever bootlegging of ideas—secretly working on new ideas on company time as well as personal time
  • Put people on small teams for future-oriented projects
  • Encourage personnel to circumvent rigid procedures and bureaucratic red tape
  • Reward and promote innovative personnel
• Innovation in Action


  • Invention: Totally new product, service, or process
  • Extension: New use or different application of an already existing product, service, or process
  • Duplication: Creative replication of an existing concept
  • Synthesis: Combination of existing concepts and factors into a new formulation or use