Nurturing innovation in the organization presentation.
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business innovation involves improving new products or developing existing technologies,process,designs and marketing to solve problems and reach new customers. As it depend on five pillars. And also there are 7 ways to start business innovation.
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Here you get my slides from a recent presentation in Turkey where I was asked to provide perspectives on innovation through two important questions / lenses:
Why innovation matters? My key message is that innovation matters if your company wants to stay relevant – and survive. It is that simple. Just consider this piece of information:
At the current churn rate, 75% of the S&P 500 firms in 2011 will be replaced by new firms entering the S&P500 in 2027. There is so much change and it is happening so fast. Innovation can mean many things, but it is a general understanding that it helps you fight irrelevance and helps you drive change rather than becoming a victim of it.
Innovation is everyone´s responsibility. I work with innovation on three levels; incremental, radical and “in between”. The latter is often the most relevant because it can really change things and have a strong impact while companies have a good chance of succeeding with this with the right setup, processes and people. Radical or disruptive innovation is highly desirable, but it is also very difficult to achieve. It requires a lot of luck as well as the right framework and conditions for this luck to happen. Very few organizations succeeds here.
While everyone in an organization should contribute to incremental innovation, I don´t think everyone should work with radical or “in between” innovation – at the same time that is. Most people just have to focus on the getting their daily jobs done. However, every employee should be given an opportunity to contribute to radical and “in between” innovation through corporate programs that could be based on the concept of intrapreneurship, incubators, accelerators or something similar.
When it comes to getting people to understand that everyone actually can contribute to all three levels of innovation, I like to use the Ten Types of Innovation framework by Doblin as it is a simple and visual concept that can open the eyes of the “unusual suspects” when it comes to innovation contribution.
Well, check my slides and let me know what you think. I am of course open for discussing a session or talk near you :-)
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Nurturing innovation in the organization presentation.
- 1. Nurturing innovation in the organization. Done by: Abdalla Anwar. Major: Enterpreneurship. Tutor: Mrs. Sreeprabha. 23/04/2018
- 2. Table of content: • Introduction. • Business innovation definition. • Nurturing innovation. • 7 ways to start business innovation. 23/04/2018
- 3. Business0innovation9definition. • Innovation is the process of doing something new or doing something in a new different way. 23/04/2018
- 4. Innovation business depends on : • Institutions • Human capital and research. • Infrastructure. • Market sophistication. • Business sophistication. 23/04/2018
- 5. Nurturing innovation. • Set the goals. (short and long term). • Set budgets. • Advertise in the organization. 23/04/2018
- 6. 7 ways to start business0innovation Realize that innovation can be simple. Build innovation into your business routines. Actively solicit suggestions for improvement of your small business’s processes and products. Involve staff in the innovation process. Invest in innovation. Cultivate an innovation mind set. Investing Scientific researches and experimental possibilities for your business. 23/04/2018
- 7. Thanks a lot for listening 23/04/2018
- 8. References: • Susan Ward.(September 16-2016),7 ways to kicktstart business innovation. https://www.thebalancesmb.com • Susan Ward.(May 31-2017),Business innovation definition. https://www.thebalancesmb.com/business-innovation- definition-2948310 • Tomislav Buljubasic.(2017).Nurturing Innovation. http://innovationexcellence.com/blog/2018/03/11/nurturing- innovation/ 23/04/2018