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Innovationstrategy 130402213424-phpapp01
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Transcript of Innovationstrategy 130402213424-phpapp01
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ManagingManagingInnovation Innovation
StrategyStrategy
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You can download this presentation at:
www.studyMarketing.org
Visit www.studyMarketing.org for more presentations on Marketing, Strategy,
Innovation, and Branding
If you find this presentation useful, please consider telling others about our site (www.studyMarketing.org)
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Innovation TypesInnovation Types
Product Innovation
Process Innovation
Strategy Innovation
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Product InnovationProduct Innovation
The process of bringing to life a new
product/service to solve the
customer's problem benefits
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Process InnovationProcess Innovation
Process innovations increase bottom-line
profitability, reduce costs, raise productivity,
and increase employee job satisfaction.
The customer also benefits from this type
of innovation by virtue of a stronger, more more
consistent product or service value consistent product or service value
delivery. delivery.
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Strategy innovation is about challenging challenging
existing industry methods of creating existing industry methods of creating
customer valuecustomer value in order to meet newly
emerging customer needs, add additional value,
and create new markets and new customer
groups for the sponsoring company.
Strategy InnovationStrategy Innovation
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Innovation LevelsInnovation Levels
Incremental Innovation
Substantial Innovation
Breakthrough Innovation
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McDonald’s InnovationMcDonald’s Innovation
INNOVATIONINNOVATION ProductProduct ProcessProcess StrategyStrategy
Breakthrough Breakthrough Big Mac Franchisee Regulations of Quality
Global Expansion
Substantial Substantial Value Meals Hamburger University
Opening for Breakfast
Incremental Incremental Green Milkshakes for St. Pat’s Day
New French Fry Cookers
Boston Markets Acquisition
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Innovation ModelInnovation ModelModel 1: The Suggestion System
Model 2: Continuous Improvement Teams
Model 3: New Venture Teams
Model 4: The Incubator Lab
Model 5: Innovation Teams
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Suggestion programs provide
employees an organized system through
which to submit ideasto submit ideas and to have
those ideas considered by a panel of
dispassionate reviewers, who accept or
reject them depending on pre-
established criteria from management.
Model 1 : The Suggestion SystemModel 1 : The Suggestion System
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• Unlike suggestion programs
that focus on motivating
individual contributors to come
forward with their ideas,
Continuous Improvement Continuous Improvement
ModelModel systems rely on team
collaboration.
Model 2: Continuous
Improvement Teams
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• Sometimes called Kaizen
Teams, (kaizen is the
Japanese word for continuous
improvement), they mostly
focus on incremental, rather
than substantial or
breakthrough process on
product improvements.
Model 2: Continuous
Improvement Teams
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• Nevertheless, when these
seemingly small, continuous
tweaks produced by firm's
rank and file workers are
added up, they can be
substantial in their bottom-substantial in their bottom-
line impact.line impact.
Model 2: Continuous
Improvement Teams
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Model 4: New Venture Teams
• The goal of the New Venture Team Model is
decidedly not cost-saving ideas, not
incremental improvements, and not process
innovations.
• Rather, the goal is more apt to be surfacing
(and funding) unconventional product, service,
or strategy ideas that have the potential to be the potential to be
breakthroughs.breakthroughs.
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Model 5: The Incubator Lab
• The Incubator Model of
Idea Management
gained popularity along
side the dot-corn bubble
of the late 1990s and
lost favor just as fast.
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Model 5: The Incubator Lab
• Beneath the hype, the basic idea of incubators was
not too different from the skunkworks approachthe skunkworks approach
pioneered by Lockheed during World War II to
rapidly develop and launch new aircraft by forming
small,small, dedicated teams separate from the dedicated teams separate from the
bureaucracy.bureaucracy.
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Model 7: Innovation
Teams
The gist of this approach is to set up a
company-wide networkcompany-wide network of people with
demonstrated skills in innovation and
give them very clear marching orders:
Go out and find some new ideas that
have promise.
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Innovation Strategy
• Scan and monitor the sources of
innovation opportunity.
• Create a personal future-scan
system.
• Integrate future scanning with
your company's idea
management system.
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Innovation Strategy
• Assault industry assumptions.
• Broaden your company's vision.
• Strategize your place in the first
mover, fast follower race.
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• Study previous
breakthrough products.
• Focus relentlessly on
value creation
throughout the
development process.
• Design and implement
a new product
development process.
Producing Innovative Products
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Producing Innovative Products
• Use a learning strategy
for more radical ideas.
• Use cross-functional
teams.
• Use rapid prototyping.
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Source of Reference:
Robert B. Tucker, Driving Growth Through InnovationDriving Growth Through Innovation,
Berrett-Koehler Publishers.