The innovation advantage
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The Innovation Advantage. Integrating Innovation Into Strategy Donna C. L. Prestwood & Paul A. Schumann, Jr. Glocal Vantage, Inc. Outline. Introduction Definition of Innovation Types of Innovation Strategy & Innovation Innovation Tools Break Recap Factors of Innovation

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The Innovation Advantage

Integrating Innovation Into Strategy

Donna C. L. Prestwood & Paul A. Schumann, Jr.

Glocal Vantage, Inc.


Outline

  • Introduction

  • Definition of Innovation

  • Types of Innovation

  • Strategy & Innovation

  • Innovation Tools

  • Break

  • Recap

  • Factors of Innovation

  • Innovation Strategies

  • InnoVantage Perspective

  • Guidelines for Successful Strategic Innovation

Glocal Vantage, Inc.


Creativity

Informatization

Knowledge management

Continuous, integrated education

Innovation

Digitization

Mass customization

Virtualization

Interactive integration

Disintermediation

Immediacy

Glocalization

Characteristics of the New Economy

Glocal Vantage, Inc.


Information Technologies

Glocal Vantage, Inc.


Key Information Technologies

  • Computer

  • Internet

  • Telecommunications

  • Image

  • Software systems

Glocal Vantage, Inc.


Innovation

  • The basic function of business

  • The basis of all competitive advantage

  • The means by which enterprises anticipate and fill customer needs

  • The way in which enterprises utilize technology

  • Endows resources with a new capacity to create wealth or creates a new resource

  • Results from the enterprise’s way of implementing new ideas, of turning the creative concepts of its members into realities

  • Can cause change or exploit change

Glocal Vantage, Inc.


Strategic Innovation

  • Strategic innovation is the purposeful and organized search for changes, and the systematic analysis of the opportunities and threats such changes might offer for the creation of wealth.

Glocal Vantage, Inc.


Examples of Innovation

  • What are some examples of innovation?

  • Discussion

Glocal Vantage, Inc.


Types of Innovation

  • Nature

    • Product

    • Process

    • Procedure

  • Class

    • Incremental

    • Distinctive

    • Breakthrough

Glocal Vantage, Inc.


Nature of Innovation

  • Product

    • Things interacting with things

    • Customer function or form

  • Process

    • People interacting with things

    • Way product is developed, produced, provided, etc.

  • Procedure

    • People interacting with people

    • How products and processes are integrated into the enterprise

Glocal Vantage, Inc.


Breakthrough

Distinctive

Incremental

Class of Innovation

Glocal Vantage, Inc.


The S-Curve and Innovation

Incremental

Breakthrough

Incremental

Distinctive

Productivity

Incremental

Distinctive

Time

Incremental

Glocal Vantage, Inc.


InnoVantage Grid

Breakthrough

Incremental

Distinctive

Product

Process

Procedure

Glocal Vantage, Inc.


Personal Computer History

  • What is the innovation history of the PC?

  • Discussion

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

PC (1970s): Researchers & Hobbyists

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

PC (1981 - 1986):Market Development

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

PC (1987 - 1993):Cloning

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

PC (1993 - 1995):Market Expansion

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

PC (1995 - ?):Windows on the World

Glocal Vantage, Inc.


Innovation Tools

  • What are some tools or techniques that encourage innovation?

  • Discussion

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

TQM

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

JIT

Glocal Vantage, Inc.


Product

Process

Procedure

Incremental

Distinctive

Breakthrough

Reengineering

Glocal Vantage, Inc.


Innovation Factors

  • What are the factors of an enterprise or its market that affect innovation?

  • Discussion

Glocal Vantage, Inc.


Strategy

  • Manner in which an enterprise intends to gain a competitive advantage

  • Describes actions aimed directly at altering the strength of the enterprise relative to its competitors

  • Allows the enterprise to gain relative advantage through measures competitors find hard to follow

  • Requires application and interaction of identification, analysis and synthesis

Glocal Vantage, Inc.


Innovation Strategies

  • Customer driven

  • Competition driven

  • Technology driven

  • Stakeholder driven (external & internal)

  • Project driven

  • Resource driven

  • Culture driven

Glocal Vantage, Inc.


The Glocal Vantage Point

Market

Enterprise

Capability

Stakeholders

Strategy

Enterprise

Capacity

Glocal Vantage, Inc.


The Market

Social

Political

Competitors

Customers

Technologies

Economic

Scientific

Demographic

Opportunity

Threat

Glocal Vantage, Inc.


Driving Forces for Change

Political

Economic

Social

Organization

Scientific

Demographic

Glocal Vantage, Inc.


Customers, Competition & Technology

  • Customers

    • Present

    • Identified potential

    • Unidentified potential

  • Competition

    • Direct

    • Indirect

    • Structural

  • Technology

    • Direct

    • Supportive

    • Enabling

Glocal Vantage, Inc.


Stakeholders

  • Stockholders

  • Employees

  • Customers

  • Suppliers

  • Strategic partners

  • Communities

Glocal Vantage, Inc.


Enterprise

  • Projects

  • Resources

    • Capital

    • People

    • Strategic relationships

    • Facilities, equipment & land

    • Intellectual property

  • Culture

Glocal Vantage, Inc.


Guidelines for Strategic Innovation

  • Define the “window of opportunity’

  • Delineate the market

  • Delight customers

  • Anticipate competition

  • Forecast technology

  • Appraise resources & capabilities

  • Assess stakeholders

  • Incorporate the purpose and culture of the enterprise

Glocal Vantage, Inc.


Glocal Vantage, Inc.

  • PO Box 161475

  • Austin, TX 78716

  • (512) 632-6586

  • [email protected]

  • www.glocalvantage.com

  • http://incollaboration.com

  • Twitter: innovant2003

Glocal Vantage, Inc.


Paul Schumann

  • Futurist and innovation consultant

  • Application of web 2.0 to market & strategic intelligence systems

  • Web 2.0 tools & technologies

  • Application of web 2.0 to democratic processes

  • Broad perspectives on the future

  • Services

    • Strategic market research & technology forecasting

    • Intelligence systems consulting

    • Seminars, webinars & presentations

Glocal Vantage, Inc.


This work is licensed under the Creative Commons Attribution license. You may distribute, remix, tweak, and build upon this work, even commercially, as long as you credit me for the original creation as Paul Schumann, Glocal Vantage Inc, www.glocalvantage.com.

Glocal Vantage, Inc.


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