Seven Sources of Innovative Opportunity – Peter Drucker

Presented by Dr. Jaime O. Umali

Innovation

• Instrument of entrepreneurship• Endows resources with a new capacity to

create wealth• AlO3 or bauxite• Penicillin (mold)• Chinese gooseberry• Coconut husk

1. The Unexpected

• Nutrasweet• Post it notes• Defective recorder and defective speaker =

Walkman

2. Incongruities

• Volkswagen beetle (no water, no radiator, push rather than pull)

• Coffee that will not keep you awake• Beer that will not make you drunk

3. Process Needs

• Mobile Apps for• - banking services• - logistics and supply chain for fast food

operations• - cloud processing• Distance learning

4. Industry and Market Structure

• Outsourcing India and the Philippines• Business Processes• - transcription• - programming• - call centres• Manufacturing facilities to Asia and S E Asia

5. Demographics

• Needs related to changes in• Age• Gender classifications• Ethnicity

6. Changes in Perception

• Fat was good• Fat is not good- new healthier products- new food substitutes- Coconut oil (Blue Coconut oil) ?- Sweetener?- Mcdonald required to show calories

7. New Knowledge

• Microelectronics• New programming methods• Biotechnology• Nanotechnology• Agriculture – GM fruits and vegetables