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Innovation

This presentation talks about what is innovation, types, differences, cycle of innovation and few examples

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Innovation

  1. 1. Innovation “There is a way to do it better - find it” -Thomas Edison
  2. 2. What is innovation • Innovation happens when someone "improves on or makes a significant contribution" to something that has already been invented. 1 • And converting the knowledge into a wealth is called innovation. • “Innovation is a complex process- even defining innovation is problematic!”8
  3. 3. Types of innovation9 10 types of innovation Enabling process Core process Product performance Product system Services channel brand Customer experiences Business model Networking
  4. 4. Examples for type of innovation Process • Enabling process Align your talent & assets10 • Core process Use superior methods to do your work Offering • Product performance Employ distinguish features & functionality • Product system Create complementary products & services • Services Support and enhance the value of offering Delivery • Channel11 Deliver your offering to customer & user • Brand Represent your offering & business • Customer experience Foster interaction Finance • Business model Make money • Networking connect with other people to make money
  5. 5. Innovation process cycle Innovation Challenge collaborative Ideas Compilation scientific evaluation Testing & developing Review Implementation New ideas inspiration Market Creative ideas
  6. 6. Innovation= creativity + Commercialization
  7. 7. Difference between invention, innovation and creativity S.no creativity invention innovation 1 creativity is novel ideas that are communicated, useful, and appealing. Creating something new4 Making the invention into a product form 2 creativity is a fuzzy idea and can’t be clarified until it is made into a prototype2 A new to the world discovered or created innovation is about changing a pattern2 for doing something. 3 Ideas Cash ideas5 Ideas cash 4 Based on thinking up new things7 Based on primary scientific skills Based on broad set of strategic, marketing and technical skills.6
  8. 8. Relationship between creativity, invention and innovation. Fresh new idea3 Invention innovation Process on invention Process on innovation “Invention is the first occurrence of an idea for a new product or process, while innovation is the first attempt to carry it out into practice.” -Jan Fagerberg
  9. 9. Examples of how invention turned into innovation Invention Innovation Laser
  10. 10. Examples
  11. 11. DOLFI: Pocket washing machine14 Electricity Conducting Cement Self-Cleaning Clothes13 Emergency flashlight, the world's most reliable flashlight, guarantees light without batteries, forever. 15
  12. 12. 3D Printed Biological Materials Wearable Technology like Google Glass17 Needle-Free Diabetes Care16 Vein Identification18
  13. 13. Conclusion • Many new and unique ideas are making their way.19 It is clear that manufacturers and marketers are listening to the needs and wants of customers, and are making new products to meet the demands. • Everybody can contribute to new product development either through research and development or through their focus, energy and commitment to their role.20
  14. 14. Reference 1. http://www.businessinsider.com/this-is-the-difference-between-invention- and-innovation-2012-4#ixzz3QfGUmGpE 2. Art Fry, Creativity, Innovation and Invention: A Corporate Inventor’s Perspective 3. KS Yong, Methods of Creative Thinking - Random Association 4. Nelson Garcia, the realnovator- in.no.va.tion : defined 5. Scott Burken, Buzz Word Debrief: Innovation vs. Invention 6. CK Woon, creative studies-november 2012 7. Mike Schoultz, 10 Ways to Build a Sustainable Creativity/ Innovation Culture 8. The nature and importance of innovation. 9. Doblin on innovation effectiveness, march-2005 10. Lorenzo Del Marmol, Business model innovation
  15. 15. 11. http://www.doblin.com/tentypes/ 12. http://www.innovation-management.org/types-of-innovation.html 13. http://www.toptenz.net/top-10-mind-blowing-scientific-achievements.php 14. Crafitti consulting invention of January 2015 15. DAKA passion for innovation.ppt 16. https://www.asme.org/engineering-topics/articles/bioengineering/top-5- medical-technology-innovations 17. https://getreferralmd.com/2013/11/health-care-technology-innovations- 2013-infographic/ 18. http://www.inventor-strategies.com/Latest-technology-inventions.html 19. David Stellmack, 15 Cases For Review 20. http://businesscasestudies.co.uk/procter-gamble/creating-innovation-for- competitive-advantage/conclusion.html#axzz3Qlqkb7N7
  16. 16. THANK YOU -Joan Vijetha R @DRL,Hyd.
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This presentation talks about what is innovation, types, differences, cycle of innovation and few examples

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