It relates to the whereabouts of innovating through a desired set of efficient algorithms.

2. oIt is an idea, practice or object that is
perceived as new by an individual or other
unit of adoption.
oIt is a use of new knowledge to offer a new
product or service that customers want. Thus,
it is
“Innovation is the search for and the
discovery, developed, improvement, adoption
and commercialization of new processes, new
products and new organization structures
and procedures.”

4. OTHERWISE THEIR
SURVIVAL CHANCES
ARE SERIOUSLY
THREATENED
ORGANIZATION
PREPARE
THEMSELVES TO
INNOVATE ON A
CONTINUING BASIS
TURBULENT AND
RAPIDLY CHANGING
ECONOMY

8. Concept
Development
Implementation
PROJECT
START
CONCEPT
FROZEN
MARKET
INTRODUCTION
Concept
Development
Implementation
PROJECT
START
CONCEPT
FROZEN
MARKET
INTRODUCTION
Open Model For Innovation
Closed Model For Innovation

10. Architectural
Innovation
Change in
Product
Structure
Modular
Innovation
Change in
Component
Technology
Steam Engine
of Car
Fuel Engine
of Car

11. Recognizing or scanning the environment.
Aligning the overall business strategy &
proposed innovation.
Acquiring technology from outside.
Generating technology in-house.
Exploring & selecting the most suitable
response to the environment.
Executing & implementing innovation.
Learning lessons for improvement.
Developing the organization.

12. INNOVATION OCCURS AT
THREE LEVELS
NATIONAL LEVEL
ENTERPRISE LEVEL
INDIVIDUAL LEVEL
GOVT. POLICIES &
SUPPORT
ENTERPRISE
POLICIES, SUPPORT
& INITIATIVES
INDIVIDUAL &
GROUP
INNOVATION
ACTIVITIES

13. SEARCH SELECT IMPLEMENT
LEARN
T I M E

14. ORGANIZATIONAL PROCESS FOR
INNOVATION MANAGEMENT
Market Learning
Effectively Building
Business Models
Creating a Cause
& not a business
Designing an open
market for :Ideas,
Capital, Talent
Listening to New
Voices
Setting Unreasonable
Expectations &
Stretching the
Business Definition
Building
Partnership and
Alliances
Lowering the risks
of
experimentation
Paying the
Innovators Well

15. One of the most prominent programmatic approaches
to innovation currently in use.
It is different from building layers of competitive
advantages & does not means segmenting market &
accommodating customer needs.
It’s main focus is on offering those products &
services which creates a superior buyer value in
existing markets & enables a quantum leap for the firm
to create new markets.
Value Innovation also differs from technology
innovation. New technology developed does not
becomes a value innovation unless it is cheap enough
for MASS BUYERS.

16. Three Basic
Building Blocks
of Strategy
Conventional
Focus
Value Innovation
Process
Competition Outperforming the Seeking Radically Super
Competition value to capture the en
mass market
Customers Retaining & better Targeting the mass of buyers by
satisfying existing following non-customers closely
customers & willingly losing some
existing customers
Corporate Leveraging & extending Willing to combine
Capabilities the current capabilities a company
of with other companies capabilities

17.  External Barriers
- Market-Related Barrier
- Government & its Policies
- Others (Technical, Societal, & Inter
Organizational Barriers)
Internal Barriers
-People Related
-Structural
-Strategy Related

18. • Clearly articulated &
shared sense of purpose
• Stretching strategic
intent
• Top management
commitment.
SHARED
VISION,
LEADERSHIP &
THE WILL TO
INNOVATE.
• Encouraging creativity
• Enabling learning &
interaction
• Balancing between
‘organic & mechanistic’
APPROPRIATE
CULTURE
HOW TO OVERCOME THESE BARRIERS

19. CONTD.
• Promoters, champions &
other roles which
facilitate innovation
KEY
INDIVIDUALS
• Use of teams at cross-
functional & inter-
organizational level
• Investment in team
selection & building
EFFECTIVE
TEAM WORKING
• Education & training of
employees to ensure
high level of skills &
competence
CONTINUING &
STRETCHING
INDIVIDUAL
DEVELOPMENT

20. • Within & between the
organization and
outside
EXTENSIVE
COMMUNICATION
• Positive approach to
creative ideas,
supported by
relevant motivation
systems
CREATIVE CLIMATE
• High level of
involvement within &
outside the firm in
proactive
experimentation
• Knowledge capture &
LEARNING
ORGANISATION

21. Enterprises should emphasize
Planning &
Controlling
Systems
With high
degree of
Flexibility
Respect for
Individual
Initiative
And
Personal
Growth
Tolerance for
mistakes
And
Allowing
Room for
Failure