Innovation & Knowledge Management

Mr. mohamed jameer 1st MBA , SAEC,Ramanathapuram.

Introduction Innovation is more than a good idea It is the process that takes a good idea,

improves it and implements it.– Purpose – Commitment– Ability– Support

What is Innovation?

Innovation means renewal or alter

Prerequisite for innovation is the dissatisfaction with the current status and an inquisitive mind

Defining Innovation, Creativity & Intelligence

Innovation is using an existing idea for a laterally different purpose or application

Creativity is doing things that has not been done before

Intelligence is the ability to learn and think

Managing Creativity "If you do not know where you are

going, you will not know when you arrive." – conventional view

"If I knew what I was doing, it would not be research." – unorthodox view

What are innovation drivers?

Innovations

Market Pull

TechnologyPush

Societydemand

Main focus: Innovationsbased on own technologies and on market knowledge

Main focus: Innovation trends backed by governmental fundsand regulations

Thinking provides knowledge, Knowledge makes you great.Dr. APJ Abdul KalamHonorable President of India

from annual address at Saurashtra University, Rajkot, Gujarat

The Role of Creativity

The creation, diffusion and use of knowledge have become the vital ingredient in economic growth and change. The innovation-driven economy builds upon these processes. (OECD, 2002)

Knowledge is more than knowingWho do you hire?

Worker who knows how to operate a machine but does pick up new skills?

One who knows how to learn independently but not familiar with the machine?

Your brand of machine will change !!!Skills are easier to acquire than attitude !!!

Managing knowledge

‘Knowledge has become the key to success, it is simply to valuable a resource to be left to chance’ (Wenger)

Knowledge management (KM) is :‘A trans-disciplinary approach to improving organisational outcomes and learning, through maximising the use of knowledge’

Why manage knowledge Enables effective and timely decision-

making Fosters creativity & innovation Enhances communication Supports culture of learning, customer-

focus, and moving from “good” to “best”

Are we open to new ideas?Is your company open and receptive to new ideas?What happens when someone comes up with an

idea?What sort of reaction do new ideas get form the

rest of the organisation?We tried all that before, It is too expensive,……

Getting Innovation started Innovation is like juggling. The organisation needs to

focus on purpose, commitment, ideas and support Most companies are not short of ideas. What they lack

is the commitment of others, the weight required to overcome the obstacles

Innovation needs people who think in different ways People who are good at problem solving and analysis People who are capable of following hunches and

convert them into ideas People who are capable of implementing them

Innovation will fail if it is left to a creative few

Support Improve company memory

– Too many good ideas are lost before they see the light of the day– We should keep a record of the ideas. They may be full of stuff

with little value but some gems may be hidden!!! Give people time Risk taking ability to be fostered People should enjoy the innovation process Networking ability

– Be good at remembering faces and names– Make yourself available to others– Ask for help from coworkers and not managers– Become aware of the informal communication channels

Celebration and Rewards Publicity and celebration of success are key to promote

the innovation process Recognition is the key to motivate the people. Apart from tangible rewards, recognition is also a very

nice way of recognition