strategic innovation for smes

7/27/2019 Strategic Innovation for Smes

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OVERVIEW: THE WHAT AND

WHY OF INNOVATION


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What are Innovations you are very

impressed with?

1. .

2. .

3. .

4. .

5. .

6. .

7. .

8. .


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Why Is Innovation Needed?

Growth

New demand simulation

New preference

Saturated market Leadership

New opportunities

Growth

Organic

Existingbusinessconcepts

New(Strategic

Innovation)

M&A


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1968 Swiss Watch Industry

New Rules

Quartz

Electronic

Battery-powered


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Why Is Innovation Needed?

Profit

Uniqueness = temporary monopoly

Turnaround

Lower cost

Cheaper than acquisition


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From Idea to Innovation

Idea Something that exists in the mind

Invention An idea made manifest (Schumpter)

Innovation Idea applied successfully in practice

(Schumpter)


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Business Case No. 4: Accenture

Accentures Performance Multiplier (makingperformance review/feedback less painful)

Facebook-style program

Employees post status updates, photos plus 2-3brief weekly goals (and quarterly goals) on theirprofile page that can be viewed by othervoluntarily

More motivating instead of measuring employees Managers of staff without goals are alerted by

email


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Business Case No. 5: Microsoft

Microsoft

Customizing compensation and benefits to

Life stages

More vacation leaves instead of adoption benefits for childlessperformers

In the future, better elder care instead of tuition assistance to

older performers

Performance levels 401k can be performance-based

well in the future

Work styles


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Definition of Terms

Business Innovation Internal Innovation

Idea applied successfully in

business practicebenefiting external

customers

Idea applied successfully in

company practicebenefiting internal

customers

Creativity act of

producing new ideas,

approaches, actions

Innovation process ofgenerating & applying such

creative ideas in some

specific context


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TYPES OF INNOVATION


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INSIGHTING


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Insighting

Basic Truth (I like my family, staff and

myself to stay healthy!)

Deeper Motivation(Because stayinghealthy allows us to be productive)

Tension (is it possible to have a clinic

without the long unproductive wait?)


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Healthway

Convenience

Mall based

Branches

7am to 8pm

Hate Waits

Shop

WiFi

Home or Officevisit

Online

Registration

Result viewing

Live inquiry

Promo &update online

WOW

Commendationvia (0920)WOW-HWAY

Wellness visafor dependents

Exec. Check-up+ pampering +

chauffered


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Insighting

Basic Truth (I like to know how I am

doing at work!)

Deeper Motivation(Because doingwell in my job will allow me a better

future)

Tension (is it possible to know how I

am doing well without waiting for my

formal performance review?)


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Mozilla/ Great Harvests HR Info

System

Mozilla / Great Harvest Bread

Twitter length 140 character questions can be

posted about own performance

Emailed to managers, peers or anyone selected bythe user

Short, anonymous real-time and on going

feedback are aggregated and sent back (quick-&-dirty 360-degree review instead of yearly annual

review)


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Insighting

Basic Truth (I like to drink my cola with

a hint of lemon flavor!)

Deeper Motivation(Because it makesit more delicious and refreshing)

Tension (How can I enjoy it since I am

always out of the house?)


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Insighting

Basic Truth (I like to look thin!)

Deeper Motivation(Because it makesme feel more confident)

Tension (Is there a way to make me

thin safely in a sustainable manner?)


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Some suggestions to Insighting

Focus on Facts

Ask, dontassume

Be curiousWHY?

immerse

Observe BIDA

Sont interpretyet

Find powerfulnew truth

Not seen bycompetition

Provides clueto an

oppotunity


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Ideation for Strategic Innovation

Who Else

How ElseWhat Else

strategic innovation for smes

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