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10 types of Innovation for Business

M-innovation Australia
M-innovation Australia

WEBINAR Replay: http://bit.ly/1lYM9nX Wed, Apr 9, 2014 11:00 AM - 12:00 PM EST Often when people think about innovation the first thing that comes to mind is product innovation. With ten different types of innovation, the more types you can incorporate the more chance your innovations are likely to be successful. This webinar will show you how to use ten sources of innovation to develop the ideas that could lead to the next big thing. Topics this interactive webinar will cover are: Why innovation is such a hot topic and why you can't ignore the trend What are ten sources of innovation How local companies are using innovation (case studies) What does all this mean for my business- the innovators dilemma.

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10 Types of Innovation Metamorph Consulting Group
Allow me to Introduce Myself My name is Simon Maselli General Manager of Metamorph Background in Engineering & Manufacturing Internationally Experienced Consultant
Metamorph Consulting Group Management Consultants specialising in Innovation Get more out of Human Resources and Physical Assets ! Singapore 2012 Our Story
First Things First Is there anyone having technical difficulties? Will be Fast Paced Share insight from Workshop A number of Polls Do you see it? What do you want to get out of this Webinar?
The Science of Innovation Its not New Clayton Christensen Peter R Drucker Michael Porter ! Doblin (Larry Keely) 1998 - 3000 Successful Innovations analysed
Innovation Practically Our Experience (Especially Mid-Level) Really Poorly Understood Managed Even Worse Hard Wired to think about Products & Technology You can read a book, attend a seminar Good start
Innovation Mostly Fails It Doesnt need to Only if you let it! Rarely Fails due to a lack of Creativity Almost Always because of a lack of Discipline The most certain way is to focus on Products Successful Innovators use multiple types of Innovation
10 types of Innovation for Business
Product Performance Address the Value, features and quality of offerings Entirely New Products & Line Extensions Usually Highest Effort & Spend Usually Lowest ROI Easiest Copied Competitive Parity ! Intel Pentium Microchips Moores Law
Product System How individual products and services connect Bundles to create a robust & scalable system Interoperability, modularity, integration. Build Ecosystems that captivate customers and defend ! Microsoft Office
Channel How you connect your companies offering to Customers E-commerce has had a significant influence Often complimentary to bring offerings to customers Goal is to ensure users can buy, what when and how they want. ! Bbox (Melbourne Based)
Brand Innovation to ensure customers remember, recognise and prefer your brand Distill a promise to attract buyers and convey identity Carefully crafted strategies to engage multiple touch points between customer & brand Transform commodities into prized products ! Richard Branson (Virgin)
Customer Engagement Understanding Insight about Users aspirations and transforming this into meaningful connections Provides broad avenues for exploration how do you make consumers lives more meaningful? ! ! ! Harley Davidson
Service Ensure and Enhance the performance and perceived value of your offering Make the product easier to use and try Reveal functions that may otherwise be overlooked Elevate average products to exceptional experiences Get Consumers coming back again and again. ! Fedex
Structure Organising company assets (hard, human and non- tangible) in unique ways to create value. Great for Improving Fixed Costs and Corporate Functions Human Resources, IT, Research & Development Attracts talent and encourages superior working environments for improved performance. ! Hawk & Hound
Process Primary Process that produces core offering Screw Business as Usual Develop Unique Capability, Function Efficiently, Adapt Quickly and Develop Market Leading Margins. Special Sauce that cant be copied (opposite of product) Patents and Proprietary Systems developed over time ! Metamorph
Networks Take advantage of other companies process, technology, channels, offering and brands. Capitalise on own strength while harnessing others Share risk in new offerings and ventures Formed between allies or even competitors Brief or long lasting ! One Stop Electrical
Profit Model Convert offering and other sources of value into cash Good ones understand what consumers actually value and where new opportunities might lie. Challenge industry assumptions about what to offer, what to charge and how to collect revenue. Long Lasting often becomes standard for decades ! Dell
Volume of Innovation Effort
Go Beyond Products Stand in any Isle of your supermarket Toothpaste 42 different types & flavors Potato Chips Pink Sea Salt, Mango Flavor Easy in Big Companies No need to re-tool Product innovation as a strategy USELESS!!!
Salt
Value from Innovation
Strength in Numbers Understand all ten types De-Emphasis the reliance on Tech and Products Think about categories as well as types Use the types that matter most to you Understand what your customers really need Use enough of the types to make an impact
Outperforming
Market Disruption Single Innovation Incremental/Sustaining Innovation ! Multiple Innovations Market Disruption
10 types of Innovation for Business
Innovation Tactics Workshop Declare Intent Be clear about Where and How You will innovate to remove guesswork and increase your odds of success Put Simply: Where and How should we innovate and how much do you need? ! innovation is not for amateurs and most meaningful discoveries are not by accident Ralph Jerome VP of Innovation for MARS
Innovation Tactics Workshop Three Innovation Shifts Understand the centre of gravity in your industry so you can double down and do something differently! Business Model Business Model Customer Experience
Innovation Tactics Workshop We share with you:- Innovation toolkit that turns the ten types into the building blocks for innovation ! Our Innovation Playbook and the combination of tactics youll need to implement them ! This Workshop will Develop Your Gameplan!!!!
Innovation Tactics Workshop ! ! Friday 30th May 2014 (Cardinia Cultural Centre) 1pm 5pm $197 Buy one & bring someone from the same business free
Contact Metamorph 1300 916 082 hello@metabiz.com.au ! Consulting Projects Speaking Engagements
10 Types of Innovation Metamorph Consulting Group

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10 types of Innovation for Business

  • 1. 10 Types of Innovation Metamorph Consulting Group
  • 2. Allow me to Introduce Myself My name is Simon Maselli General Manager of Metamorph Background in Engineering & Manufacturing Internationally Experienced Consultant
  • 3. Metamorph Consulting Group Management Consultants specialising in Innovation Get more out of Human Resources and Physical Assets ! Singapore 2012 Our Story
  • 4. First Things First Is there anyone having technical difficulties? Will be Fast Paced Share insight from Workshop A number of Polls Do you see it? What do you want to get out of this Webinar?
  • 5. The Science of Innovation Its not New Clayton Christensen Peter R Drucker Michael Porter ! Doblin (Larry Keely) 1998 - 3000 Successful Innovations analysed
  • 6. Innovation Practically Our Experience (Especially Mid-Level) Really Poorly Understood Managed Even Worse Hard Wired to think about Products & Technology You can read a book, attend a seminar Good start
  • 7. Innovation Mostly Fails It Doesnt need to Only if you let it! Rarely Fails due to a lack of Creativity Almost Always because of a lack of Discipline The most certain way is to focus on Products Successful Innovators use multiple types of Innovation
  • 9. Product Performance Address the Value, features and quality of offerings Entirely New Products & Line Extensions Usually Highest Effort & Spend Usually Lowest ROI Easiest Copied Competitive Parity ! Intel Pentium Microchips Moores Law
  • 10. Product System How individual products and services connect Bundles to create a robust & scalable system Interoperability, modularity, integration. Build Ecosystems that captivate customers and defend ! Microsoft Office
  • 11. Channel How you connect your companies offering to Customers E-commerce has had a significant influence Often complimentary to bring offerings to customers Goal is to ensure users can buy, what when and how they want. ! Bbox (Melbourne Based)
  • 12. Brand Innovation to ensure customers remember, recognise and prefer your brand Distill a promise to attract buyers and convey identity Carefully crafted strategies to engage multiple touch points between customer & brand Transform commodities into prized products ! Richard Branson (Virgin)
  • 13. Customer Engagement Understanding Insight about Users aspirations and transforming this into meaningful connections Provides broad avenues for exploration how do you make consumers lives more meaningful? ! ! ! Harley Davidson
  • 14. Service Ensure and Enhance the performance and perceived value of your offering Make the product easier to use and try Reveal functions that may otherwise be overlooked Elevate average products to exceptional experiences Get Consumers coming back again and again. ! Fedex
  • 15. Structure Organising company assets (hard, human and non- tangible) in unique ways to create value. Great for Improving Fixed Costs and Corporate Functions Human Resources, IT, Research & Development Attracts talent and encourages superior working environments for improved performance. ! Hawk & Hound
  • 16. Process Primary Process that produces core offering Screw Business as Usual Develop Unique Capability, Function Efficiently, Adapt Quickly and Develop Market Leading Margins. Special Sauce that cant be copied (opposite of product) Patents and Proprietary Systems developed over time ! Metamorph
  • 17. Networks Take advantage of other companies process, technology, channels, offering and brands. Capitalise on own strength while harnessing others Share risk in new offerings and ventures Formed between allies or even competitors Brief or long lasting ! One Stop Electrical
  • 18. Profit Model Convert offering and other sources of value into cash Good ones understand what consumers actually value and where new opportunities might lie. Challenge industry assumptions about what to offer, what to charge and how to collect revenue. Long Lasting often becomes standard for decades ! Dell
  • 20. Go Beyond Products Stand in any Isle of your supermarket Toothpaste 42 different types & flavors Potato Chips Pink Sea Salt, Mango Flavor Easy in Big Companies No need to re-tool Product innovation as a strategy USELESS!!!
  • 21. Salt
  • 23. Strength in Numbers Understand all ten types De-Emphasis the reliance on Tech and Products Think about categories as well as types Use the types that matter most to you Understand what your customers really need Use enough of the types to make an impact
  • 25. Market Disruption Single Innovation Incremental/Sustaining Innovation ! Multiple Innovations Market Disruption
  • 27. Innovation Tactics Workshop Declare Intent Be clear about Where and How You will innovate to remove guesswork and increase your odds of success Put Simply: Where and How should we innovate and how much do you need? ! innovation is not for amateurs and most meaningful discoveries are not by accident Ralph Jerome VP of Innovation for MARS
  • 28. Innovation Tactics Workshop Three Innovation Shifts Understand the centre of gravity in your industry so you can double down and do something differently! Business Model Business Model Customer Experience
  • 29. Innovation Tactics Workshop We share with you:- Innovation toolkit that turns the ten types into the building blocks for innovation ! Our Innovation Playbook and the combination of tactics youll need to implement them ! This Workshop will Develop Your Gameplan!!!!
  • 30. Innovation Tactics Workshop ! ! Friday 30th May 2014 (Cardinia Cultural Centre) 1pm 5pm $197 Buy one & bring someone from the same business free
  • 31. Contact Metamorph 1300 916 082 hello@metabiz.com.au ! Consulting Projects Speaking Engagements
  • 32. 10 Types of Innovation Metamorph Consulting Group