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Fusion2007 Converse

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Published on November 6, 2007

Author: Elliott

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Before you sit down… Located at the front and rear of the room:  Before you sit down… Located at the front and rear of the room Grab a handout of the presentation Grab a mini-whiteboard Grab a whiteboard marker Grab a whiteboard eraser (tissue) Grab a seat; doodling is allowed So You’ve Innovated – Now What?:  So You’ve Innovated – Now What? Creating A Framework for the Execution and Delivery of Innovation Scott Converse Director – Technology Programs UW-Madison School of Business Executive Education sconverse@bus.wisc.edu http://exed.wisc.edu True innovations of our time (adapted from Koulopoulos – Fusion 2007):  True innovations of our time (adapted from Koulopoulos – Fusion 2007) Moving materials (…, ship) Moving people (ship, rail, telco) Moving work (telco, computers, internet) Moving value (internet, … True innovations of our time (adapted from Koulopoulos – Fusion 2007):  True innovations of our time (adapted from Koulopoulos – Fusion 2007) Moving materials (…, ship) Moving people (ship, rail, telco) Moving work (telco, computers, internet) Moving value (internet, … cheese) Moving cheese (go back to step 1) Session Objectives:  Session Objectives Blood flow Networking Brief review of innovation management theory Using collective knowledge to help improve course offerings Buzzword Bingo:  Buzzword Bingo Whiteboard Exercise How much of your work day is spent on::  Whiteboard Exercise How much of your work day is spent on: WSJ 2/20/07 :  WSJ 2/20/07 What is Innovation? Get Your Reading Glasses Out:  What is Innovation? Get Your Reading Glasses Out Definitions of innovation on the Web: invention: a creation (a new device or process) resulting from study and experimentation invention: the creation of something in the mind initiation: the act of starting something for the first time; introducing something new; "she looked forward to her initiation as an adult"; "the foundation of a new scientific society"; "he regards the fork as a modern introduction" wordnet.princeton.edu/perl/webwn Innovation is the introduction of new ideas, goods, services, and practices which are intended to be useful (though a number of unsuccessful innovations can be found throughout history). The main driver for innovation is often the courage and energy to better the world. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al). ... en.wikipedia.org/wiki/Innovation Introduction of a new idea into the marketplace in the form of a new product or service or an improvement in organization or process. www.business.gov/phases/launching/are_you_ready/glossary.html A new idea, method or device. The act of creating a new product or process. The act includes invention as well as the work required to bring an idea or concept into final form. See: Attractive, Cost-Effective, Sundberg-Ferar Mission Statement, Competitive Advantage. www.shapetomorrow.com/resources/i.html Creating value out of new ideas, new products, new services or new ways of doing things. www.scottish-enterprise.com/sedotcom_home/help/help-glossary.htm Something new or improved, including research for (1) development of new technologies, (2) refinement of existing technologies, or (3) development of new applications for existing technologies. For the purposes of PHS programs, an example of "innovation" would be new medical or biological products for improved value, efficiency, or costs. grants.nih.gov/grants/funding/phs398/instructions2/p3_definitions.htm Task Force on the Future of American Innovation, The Knowledge Economy: Is the United States Losing its Competitive Edge? 2005 http://www.futureofinnovation.org/PDF/Benchmarks.pdf www.genomicglossaries.com/content/research_genomics.asp A novel, beneficial change in art or practice. guide.stanford.edu/TTran/Air/glossary.html The creation or introduction of something new, especially a new product or a new way of producing something. www-personal.umich.edu/~alandear/glossary/i.html To introduce something new. www.abheritage.ca/abinvents/glossary.htm is the process of converting knowledge and ideas into better ways of doing business or into new or improved products and services that are valued by the community. The innovation process incorporates research and development, commercialisation and technology diffusion. www.smartstate.qld.gov.au/strategy/strategy05_15/glossary.shtm The application of ideas that are new, regardless of whether the new ideas are embodied in products, processes or services, or in work organisation, management or marketing systems. www.innovation.sa.gov.au/sti/a8_publish/modules/publish/content.asp An intentional change to a chain letter. May be a modification, addition or deletion. Often one judged to have a significant positive effect on propagation. www.silcom.com/~barnowl/chain-letter/glossary.htm The act of introducing something new and significantly different. www.economicadventure.org/teachers/glossary_dec.cfm a newly introduced practice or method intended to improve the current practice www.mywhatever.com/cifwriter/content/66/4620.html The creation, development and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage. Innovation may apply to products, services, manufacturing processes, managerial processes or the design of an organisation. It is most often viewed at a product or process level, where product innovation satisfies a customer's needs and process innovation improves efficiency and effectiveness. ... www.digitalstrategy.govt.nz/templates/Page____60.aspx the process of adopting a new thing, idea, or behavior pattern into a culture. farahsouth.cgu.edu/dictionary/ covers incremental and/or step (breakthrough) changes in products and/or processes which change function, form, performance or resource use in an advantageous way. wps.prenhall.com/wps/media/objects/213/218150/glossary.html introducing an object as if it were new. oregonstate.edu/instruct/anth370/gloss.html Innovative features are constantly added to their models. The most imaginative of these was in field of television; multilingual screen display (the menu appears on the screen in five Indian languages) www.indiainfoline.com/fmcg/bran/ch05.html A new idea, method or device. One of the most overused nouns in the business vocabulary today. (With all of this innovation going on, why aren't more people satisfied with their logistics operations?) We are counting the days until we hear the buzzword "re-innovation." www.logisticsfocus.com/Glossary/glossary-i.asp The term innovation means different things to different organisations. The SIGMA Project views innovation from a number of different perspectives and has identified several key drivers of its successful implementation: www.balfourassociates.co.uk/new/jargon_defns.htm the outcome of innovation activities; innovativeness amounts to the ability to create something new and useful or generate sound renewals and changes, and action that utilizes this ability. www.finnevo.fi/eng/contents/iso9000_terms.htm is an evolutionary process of increasing the capability to apply a technology, applying in new contexts, expanding the capability of a technology aor improving the capability of a product. www.ee.wits.ac.za/~ecsa/gen/g-04.htm “An idea, practice, or object that is perceived as new by an individual or other unit of adoption” (Rogers, 1995, p. 11). An innovation is a more focused concept than research and usually implies that the research has been translated in some way into a concrete form. An innovation is not necessarily research-based. www.nursing.ualberta.ca/kusp/RUStudy2/Glossary.htm Development of new products, processes, organizations, management practices, and strategies. enbv.narod.ru/text/Econom/ib/str/261.html Innovation is creating something that others want. Intrapreneurship "Intra" means within, thus intrapreneurship means planting the spirit of entrepreneurship within an organization. Invention Inventions are things made for the first time. Market The market is the place where buyers (demanders) meet sellers (suppliers) to determine how much of something will be sold at what price. Opportunity Opportunities occur when: www.sasked.gov.sk.ca/curr_content/entre30/helppages/glossary/glossary.html What is Innovation?:  What is Innovation? “It is the means by which [organizations] create value-producing resources or endows existing resources with enhanced potential for creating value” “The effort to create purposeful, focused change in an enterprises economic or social potential” Peter Druker Types of Innovation:  Types of Innovation New technology development New product development New process capability Increased productivity Technological Innovation vs Operational Innovation Resources in Innovation Theory: The Innovation Radar:  Resources in Innovation Theory: The Innovation Radar Resources in Innovation Theory: Disruptive Technologies:  Resources in Innovation Theory: Disruptive Technologies “Disruptive technologies have enabled a larger population of less skilled or less wealthy people to do things in a more convenient, lower cost setting which historically could only be done by specialists in less convenient, higher cost settings.” Clayton Christensen “(Disruptive technology)... It's trivial technology that disrupts the business model of the leading company, and that’s what makes it so hard.” Andy Grove, Intel Problems Addressed by Operational Innovation – Sound Familiar??:  Problems Addressed by Operational Innovation – Sound Familiar?? Higher customer retention Greater market share Lowering direct/indirect costs Greater customer satisfaction Creating stronger customer relationships Developing better organizational agility Better utilizing assets Creating faster cycle times Increasing accuracy Creating customization options Simplifying processes Ingredients of Operational Innovation:  Ingredients of Operational Innovation Business Alignment Operational Breakthrough Methodology (measure – solve – measure) Breakthrough Implementation (people – processes – technology) Business Alignment Model:  Business Alignment Model Revenues (inflows) Expenses (outflows) -COGS -SGA -IT Spend ------------------- Gross Income Ingredients: Technology Implementation:  Ingredients: Technology Implementation Implementation Grid: Individual Exercise:  Implementation Grid: Individual Exercise On top half of whiteboard create/fill in 2x3 matrix of what your your organization’s resource utilization is on technology implementations: Work problems you have control over that keep you up at night What is your core competency? (personal or professional) What gets you up in the morning? (personal or professional) Bottom Half Implementation Grid: Group Exercise:  Implementation Grid: Group Exercise Look on the back of your board for group name/location Meet/greet as a group and share concerns/competencies (lower half of board) Collect information about each section of 2x3 grid: Average - High/Low for the group (be ready to report out each of the 6 sections) What are other keys to implementation success that the grid fails to collect? Best Practice: Breakthrough Implementation:  Best Practice: Breakthrough Implementation How Important is Innovation?:  How Important is Innovation? Additional Resources:  Additional Resources Books Christensen, Clayton M., and Michael E. Raynor. The Innovator's Solution: Creating and Sustaining Successful Growth. Boston: Harvard Business School Press, Christensen, Clayton M. The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail. Boston, Mass.: Harvard Business School Press, 1997.  Joyce, W., Nohria, N., and Robertson, B. What Really Works: the 4+2 Formula for Sustained Business. New York, NY: HarperCollins, 2003 Articles Bower, Joseph L., and Clayton M. Christensen. "Disruptive Technologies: Catching the Wave." In Seeing Differently: Insights on Innovation, edited by John Seely Brown. Boston, Mass.: Harvard Business School Press, 1997. Christensen, Clayton M., and Michael Overdorf. "Meeting the Challenge of Disruptive Change." Harvard Business Review 78, no. 2 (March-April 2000): 66-76. Hammer, Michael, “Deep Change: How Operational Innovation Can Transform Your Company”, Harvard Business Review OnPoint Article #6573 Birkinshaw, Julian, and Mol, Michael, “How Management Innovation Happens”, MITSloan Management Review, Summer 2006, vol 47, no. 2 Arroniz, Sawhney, Wolcott, “12 Different Ways for Companies to Innovate”, MITSloan Management Review, Summer 2006, vol 47, no. 2 Drucker, Peter. “The Discipline of Innovation”, Harvard Business Review, 2002, # R0208F Executive Education Courses http://exed.wisc.edu IT Business Alignment: Bridging the Gap Between Technology and Business Strategy Demystifying IT: Understanding and Impacting IT Projects Data to Decisions: Data Analysis Tools and Techniques for Managers Accelerated Six Sigma (part of the UW-Madison Six Sigma Greenbelt Series)

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