Innovation as business driver

“Innovation distinguishes between a leader and a follower” Steve Jobs

Real innovation will drive business today and tomorrow

Innovation is the profitable implementation of ideas

Apple in 2000

• Apple was considered ―dead alley by most industry observers and analysts

• Apple stock was around $10

• Apple market cap was less than thirtieth of today’s market cap

Apple Explosion in Stock Price

Apple Today

“With quarterly revenue growth of 83% profit growth of 95 % we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the Year.” said Steve Jobs, Apple’s CEO April, 2011

Apple Milestones – Blockbuster Hits

each a gargantuan success!

There's an old Wayne Gretzky quote that I love. ‘I skate to where the puck is going to be, not where it has been.' And we've always tried to do that at Apple. Since the very very beginning. And we always will.’ Steve Jobs

How did Apple do it?

The customer anticipation pyramid

External driven

Internal driven

Pro Active

Anticipates

Reacts

The company rules

Types of InnovationsThe Innovation Spectrum

Incremental Breakthrough Transformational

Continuous Dynamically Continuous Discontinuous

Innovation Life Cycle Process

• Ideation • Concept development • Evaluation • Commercialization • Incremental innovation /improvement/

Tom Fishburne, lifecycle of innovation

Tom Fishburne, lifecycle of innovation

Diffusion of Innovations

Everett Rogers

• Look for the laggards, and get them to tear the innovation apart. Their rejection will be the rules for the infrastructure that will make your innovation work

• Find the late majority, and give them the ati recepi provided by your laggards. They will give you excruciatingly detailed description of what would make them adopt detailed enough to make fine blueprints

• Figure out whether you can build the infrastructure to sufficient depth to attract a reasonable number of early majority as well as early adopters. If you can’t afford the investment, look around to see if anybody else can. Does anybody else have an interest in this kind of infrastructure? If not, then you’ll have to wait.

Speeding up innovation adoption

3 myths about innovation

• Successful innovations are mostly accidents

• Market research is effective for validation

• Innovation is about being first on the market

one of the most quoted innovation credos

“Build a better mousetrap, and the world will beat a path to your door.”

Yet it’s also untrue.the credo focuses solely on the technology and not on the consumer. Consumers really don’t care about a better mousetrap. They care about fewer mice.