A brief overview of what innovation is and why it is important to an organizations life.

1. Introduction to
Innovation

2. “For almost 90% of CEO’s,
generating organic growth through
innovation has become essential
for success in their industry.”
Source: Boston Consulting Group

3. Definition of Innovation
• VerseOne’s definition of Innovation is
positive financial and organizational
growth resulting from your ability to
develop and deliver unique products,
services and business opportunities;
ultimately enhancing your position within
the industry.

4. Why is Innovation Important?
• Enhances your ability to create value to your
shareholders, customers, vendors and
employees
• Reduces costs to your organization
• Strengthens your brand image
• Provides stronger business relationships
…Leadership

5. Innovation Examples
• Kraft Foods:
Parkay Margarine

6. Innovation Examples
• Coke:
McDonald’s

7. Innovation Challenges
• Globalization
• Changing Markets
• Changing Customers and Their Needs
• Changing Technologies
• Outsourcing
• Speed at which innovation becomes obsolete

8. Innovative Thinking
“Innovative thinking is the nucleus
of innovation”

9. Levels of Innovation Maturity
Everyone in the organization contributes to identifying and
Dispersed realizing innovative new solutions. Innovation chains
extend the innovation capability beyond the organization.
Methods that actively control and maximize the outcomes of the
innovation process are widely deployed and used. The organization
Managed is forward looking and actively strives to create the future rather
than react to change. The emphasis is on innovating in order to
own specific spaces in the market.
Companies have a defined process for innovation. A variety
Defined of methods are deployed and used. An environment for
innovation promotes experimenting and lessons learned. The
emphasis is still on innovating specific solutions
Companies are able to innovate more than once.
They innovate by throwing enough resources at
Repeatable opportunities. Many efforts fail, but, through sheer
volume of efforts, the company is able to succeed
more than once.
Every company has the ability to innovate – it is
Ad-hoc just a matter of being in the right place at the right
time. This level is the baseline of innovation.

10. Where is your organization on the
Innovation Maturity Pyramid

11. The Innovation Pyramid

12. VerseOne’s Innovation Process
• Assess your current innovative capabilities
– web assessment tool
• Hold an innovation kick-off retreat
• Develop a innovation action plan
• Deploy the innovation action plan
• Assist while you monitor and measure
your innovation results

13. Want To Know More?
VerseOne, Inc.
708-301-5566 Homer Glen IL
920-882-1474 Appleton WI
877-301-4595 Toll Free
info@verse1.net
www.verse1.net /LWI

14. Thank You