What Is Innovation?

 Innovation is a new way of doing something or "new

stuff that is made useful“
 In organizational context, innovation may be linked to
improvements in efficiency, productivity, quality,
competitive positioning, market share, etc.
 Invention is the conversion of cash into ideas.
Innovation is the conversion of ideas into cash.

“Innovation distinguishes a leader from

a follower."
– Steve Jobs
logee : Have A Dream
 Create an inspiring vision
 Focus on your core competencies and competitive
advantage
 Develop a vision-focused innovation strategy

"If you can dream it, you can do it."

– Walt Disney
102: Inspire Your Team
 Communicate your strategic intent and launch a
crusade
 Create an inspiring culture, make business fun
 Inspire, empower and energize people

"Never underestimate the power of a small but

committed group of people to change the world.
Indeed, it is the only thing that ever has."
– Margaret Mead
3.141: Focus On Customers
 Strive to create innovative value for your customers
 Practice customer-driven innovation
 Involve customers in your process of new product
development

"You're headed in the right direction when you

realize the customer viewpoint is more important
than the company viewpoint."
– John Romero
2+2: Be Different
 Differentiate yourself and your product
 Strive to change the name of the game – introduce
radical innovations
 Practice Lateral Thinking

"We must be the change we wish to see

in the world."
– M.K. Gandhi
 5: Question Everything
 Challenge assumptions, ask "Why?" and "What If?"
questions constantly
 Ask a lot of searching questions
 Question and reassess past decisions

"Some men look at things the way they are and ask why? I dream
of things that are not and ask why not?
– Robert Kennedy
√36: Synergize
 Build cross-functional expertise and systems thinking
skills
 Build and lead a cross-functional team
 Cross-pollinate ideas, leverage diversity, create
synergies

"You can't do carpentry if you only have a saw, or only a

hammer, or you never heard of a pair of pliers. It's when you
put all those tools into one kit that you invent.”
– Peter Drucker
28/4: Establish the Process
 Create a business model, rules, structure, and a
measuring system
 Provide strategic alignment (Ensuring that the above
fit together)
 Encourage jazz-like improvisation within a guiding
structure

"Without order nothing can exist – without

chaos nothing can evolve.“
- Anonymous
 3
2: Take Risk
 Take entrepreneurial action – nothing venture,
nothing win
 Experiment, learn from market feedback
 Learn from failures to start again smarter

"Aversion to risk is deadly in business,

especially in industries marked by rapid
advances in technology."
– Ken Iverson
IX: Lead Change
 Create a mindset of creative dissatisfaction to reduce
resistance to change
 Lead by example, demonstrate entrepreneurial
leadership attributes
 Adapt to rapid internal and external change, create
positive change

"Never innovate to compete, innovate to

change the rules of the game."
– David O. Adeife
a16 : Be Entrepreneurial
 Develop and practice entrepreneurial creativity daily,
learn continually
 Look for opportunities everywhere and pursue them
 Be persistent, overcome obstacles, solve problems
creatively

"Innovation is the specific instrument of

entrepreneurship. The act that endows resources with
a new capacity to create wealth."
– Peter Drucker
1 Have a dream

2 Inspire your team

3 Focus on customers 6 Synergize

4 Be different 7 Establish the process

5 Question everything 8 Take risk

9 Lead change

10 Be entrepreneurial
Done !!!

Thank You!