STIMULATING AND DRIVING INNOVATION - Office of Innovation Process BUSINESS MODELS • There are 9 basic business model building blocks ... Training Module_STIMULATING AND DRIVING INNOVATION_Oct_17_2012

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    STIMULATINGANDDRIVINGINNOVATIONOctober17,2012www.utep.edu/creie

    Gary Williams DirectorJeni Clark Associate Director

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    Innovation

    WebsterDefinitionofInnovation:The process of introducing new methods,devices, etc.A new method, customer, device, etc.

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    InnovationProcess

    Thisworkshopaddresses3differentaspectsoftheinnovationprocessincluding:

    Ideation: Winning at New Products by Robert G.Cooper, AddisonWesley Publishing Company 1993.Achieving Superior Differentiation, Speed to Market,and Increased Profitability: Fast Innovation byMichael George, James Works, Kimberly WatsonHemphill, McGrawHill, 2005.Fast Cycle Time Concepts: Fast Cycle Time byChristopher Meyer, The Free Press, NY,NY 1993.

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    ApproachestoInnovation

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    R&Ddefinesthetechnicalsolution

    Manufacturing Sales MarketNeed?

    Marketingdefinesthe

    needsR&DFit? Manufacturing Sales

    Marketing&R&Ddefinestheneeds,fit,and

    solutions

    R&D Manufacturing Sales

    A. Technology - Push

    B. Market-Pull

    C. Product/Markets (Hybrid of A&B)

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    TheInnovationProcess

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    IdeaGeneration1. Individual2. GroupBrainstorminggenerallywillgeneratemore

    ideasandmorediversityofideas.

    Needtobesurethatyouarealwaysaskingthequestion:WhatamIgoingtomakeorsell?

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    TheInnovationProcess

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    IdeaGenerationsomeusefultechniques

    1. Establishafocalpointapersontostimulateandhandleideas.

    2. Surveyyourcustomers.3. Observecustomers astheyuse(ormisuse)your

    product.4. Examinethepatentfilesregularly.

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    TheInnovationProcess

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    IdeaGenerationsomeusefultechniques,continued

    5.Routinelysurveyyourcompetition.Analyzetheirproducts,strategiesandbusinesssuccesses.

    6.Runanewproductideacontest.7. Organizecreativitysessionsinvolvingsales,

    manufacturingandtechnicalpeopleinthesamesession.

    8. Setupauserpaneltodiscussunmetneeds,wants,andproblemsthatmightleadtonewproductideas.

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    TheInnovationProcess

    CreationPhaseWhatdoyoudowiththeidea?

    1.Proofofconceptshouldbedoneasearlyaspossible.

    2.ProtecttheIntellectualProperty(IP)a.Inventiondisclosureb.Provisionalpatentinplaceforoneyearc.NonprovisionalorUtilitypatent

    3.Usenondisclosureagreement(NDA)withcustomer andother3rdparties

    a.ProtectstheIPandreservesrighttofilenewpatentideas

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    TheInnovationProcess

    CreationPhaseWhatdoyoudowiththeidea?

    4.MarketResearchsinglebiggestreasonnewproductsfailislackofsufficientunderstandingofthemarket.

    5.Marketneedshavetoberecognized.Inastudyof567successfulproductsinnovations,mostweremarketpullprojects;only21%weretechnologypush.

    6.Whenatechnologicalsuccessdoesnotmeetaspecificmarketneed,theproductshouldbeadaptedtosuitanidentifiedneedhybridoftechnologypushandmarketpull.

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    TheInnovationProcessInnovationImperative

    FastInnovationistheprocessofcreatingnewproducts,services,processes,businessmodelsandmarketswithsufficientdifferentiation andspeed suchthattheCompanymaintainsaboveaverageshareholderreturnsfordecades.

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    TheInnovationProcessBUSINESSMODELS

    Thereare9basicbusinessmodelbuildingblocks(Osterwalder,Alexander&Pigneur,Yves.BusinessModelGeneration:JohnWiley&Sons,Inc.2010)

    Whatareyougoingtomakeandsellorservice??1)ValuePropositions2)KeyActivities3)KeyResources4)KeyPartners5)Customersegments6)Channelssalesanddistribution7)CustomerRelationships8)CostStructure9)RevenueStreams

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    TheInnovationProcessSustainingInnovationsIncrementalImprovements

    1. Likelyofferonlymodestimprovements2. Havealowriskoffailure3. Canbequicklycopiedandcommoditized.4. Creategrowthinrevenuewithoutdestroying

    potentialofincumbentofferings.

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    TheInnovationProcessDisruptiveInnovations

    1. Innovationsthatobsoletecurrentofferings,processesandbusinessmodelswillcatchthecompetitionflatfootedandmayprovidegreatpropulsivepowertogrowth.

    2. Theimpactofdifferentiatedproductsissignificantandpositivelyimpactsthesuccessrate.

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    TheInnovationProcessDisruptiveInnovations,continued

    3. Mayrequirenewtechnologiesorcorecompetencies

    4.Mayrequirecompletelydifferentsaleschannels5.Maycompetewithandcannibalizeexisting

    offerings.

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    ImpactofDifferentiatedProducts

    18%

    42%

    82%

    0%10%20%30%40%50%60%70%80%90%

    MeToo ModerateAdvantage HighlyDifferentiated

    Prob

    abilityofP

    rodu

    ctSuccess

    SuccessRate

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    FastCycleTimePrinciples

    WhatisFastCycleTime?

    Fastcycletimeistheongoingabilitytoidentify,satisfy,andbepaidformeetingcustomer needsfasterthananyoneelse.

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    FastCycleTimePrinciples

    Keyelementsinclude:

    1.CreateaNewProductsStrategy2.IdentifyCustomer Problems3.CommunicateEffectively4.PracticeGoodPlanningandProjectManagement5.ProcessSimultaneously6.UtilizeCrossFunctionalTeaming7.InvolveCustomers onanOngoingBasis8.PrioritizeandMakeDecisionsasFastasPractical9.MotivateorganizationandMeasurekeyactivities

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    FastCycleTimePrinciples

    Newproductstrategyshouldinclude:

    1. Listofproductstobedeveloped2. Marketsectorseachwillserve3. Unmetneedthatwillbeaddressed4. Prioritylistingofdevelopment5. Channelofdistributionthatwillbeutilized

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    InnovationProcess

    SUMMARY1. Innovationisthemostimportantaspectofthe

    businessprocess.2. Differentiation,satisfyingunmetneeds,protecting

    yourintellectualproperty,gettingtothemarketasquicklyaspossibleandinvolvingthecustomer everystepofthewayareimportantkeystosuccess.

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    STIMULATINGANDDRIVINGINNOVATIONOctober17,2012www.utep.edu/creie

    Gary Williams DirectorJeni Clark Associate Director

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