Presented By: Kamal Manwani (67) Pranav Mohla (63) Nitin Singh (68) Nitin Sharma(65)

Aman Sachdev

 What is innovation

 Innovation Vs Invention
 Types of Innovation

 Innovation levels
 Innovation strategies  Innovation models

An innovation is something original, new and important– in whatever field- that breaks into a market or society.

Innovation is the application of better solutions that meet new requirements, inarticulate needs, or existing market needs.

“Innovation is celebration of Creativity” -Dr. A.P.J Abdul Kamal

DON’T CONFUSE IT WITH CREATIVITY • Innovation stems from Creativity • Innovation is taking risk to Implement Ideas • Turn Fresh Ideas to Reality .

e. Whether that technology is viable in the marketplace 3. 1. What features or services are desired by consumers . What technology is available to produce 2.INNOVATION Innovation takes place through the interaction of three intermingled factors or forces i.


It’s about the people you have. how you’re led. and how much you get it. When Apple came up with the Mac. [Albert Einstein] . IBM was spending at least 100 times more on R & D.Innovation distinguishes between a leader and a follower [Steve Jobs] “Innovation has nothing to do with how many R&D dollars you have. It’s not about money.” [Steve Jobs] If you always do what you always did. you will always get what you always got.

process or service or when it becomes economically successful.INNOVATION AND INVENTION  Invention is the creation of new technology or process or product first time either physically or conceptually.  “Innovation. It’s the exploited version of that idea. It’s the core/new idea. All innovations are inventions but not vice versa.” on the other hand. occurs if someone improves on or makes a significant contribution to an existing product. .


service or process Introduction of Product/service in market place 2. May be for Non Economic or Economic motive 3.Invention Innovation 1. Activity Restricted to R&D 5. May not be commercialised 2. Usually for Economic motive 4. Innovation= Invention+ Commercial Exploitation . Results in Commercialisation 3. Activity spread across the organization 5.Creation of new Product. Invention=Innovation-Commercial Exploitation 4.

TYPES OF INNOVATION Open & Closed Innovation Modular and Architectural Innovation Incremental & Radical Innovation Product & Process Innovation .

a. Open & Closed Innovation PROJECT START Concept Development CONCEPT FROZEN Implementation MARKET INTRODUCTION Closed Model For Innovation PROJECT START CONCEPT FROZEN MARKET INTRODUCTION Implementation Open Model For Innovation Concept Development .

Product and Process Innovation .b.

Modular and Architectural Innovation Modular Innovation It refers to significant change in elements of product and process of technology without any significant change to the existing configuration of the elements.c. Modular Innovation Change in Component Technology Steam Engine of Car Fuel Engine of Car .

Architectural Innovation These innovation requires use of existing organizational practices and technologies but reconfigure them in a new knowledge of how the existing components are to be configured into a new system. which will result in better organizational efficiency. Architectural Innovation Change in Product Structure .

.d. Incremental & Radical Innovation Incremental Innovation Represents minor improvements or change in the elements of an existing product or processes. Their incubation and implementation require little new knowledge because they are already aligned with existing organizational skills and capabilities.

Radical Innovation It represents revolutionary change that require clear departure from existing organizational practices and technologies. They are not aligned with the organizational skills and capabilities and these require significant new knowledge for both component and configuration of the system. Displacing Existing Technology .

support & initiatives INDIVIDUAL LEVEL Individual & group innovation activities . Policies & support ENTERPRISE LEVEL Enterprise policies.Innovation Levels  Innovation Occurs at Three Levels NATIONAL LEVEL Govt.

.INNOVATION STRATEGY A plan made by an organisation to encourage advancements in technology or services. usually by investing in research and development activities.

new vs old organisation  Government support and policies for technology and innovation .Factors Affecting Innovation Strategy  Risk taking abilities of the organisation  Risk taking attitude of top management  Organisational goals and policies  Degree of technological changes  Degree of competition  Availability of funds  Age of organisation viz.

. flexible non linear innovation process. new sales.Types of Innovation Strategy  Innovation Leader  Firm seeks to be the first to introduce innovation  Aims at tapping first mover advantages ( early profits. increased reputation. open. pre-empting competition etc)  Focus on radical.

 Innovation Follower  A firm chooses not to be first on innovations  Aims at learning from the experiences of innovation leader ( by cost imitation. closed. linear innovation process . by bringing better products and services through improvements etc)  Focus on incremental.

INNOVATION MODELS  Traditional Phase Gate Model (linear model) a) Technology push Model b) Market pull Model  Innovation Process Flexible Model .

 Traditional Phase Gate Model Product concept frozen at early stage to minimize risk Involves series of sequential phases Each phase passes through a gate before moving to next phase Gatekeeper involved at each gate Gatekeeper examines stated objectives of preceding phase met or not .

Project start Concept Frozen Market Introduction Concept Development Implementation TRADITIONAL MODEL .

less on learning • Concept frozen too early.Limitations of the model • Low gatekeeper knowledge may lead to poor judgements • Time consuming as it is a step by step approach • Long review preparation time • More focus on attaining target. however customer/market requirements may change at later stage .

Technology push model  First generation linear model  Technology – key driver of innovation  Steps involved: a) Fundamental Research b) Application Research c) Design Engineering d) Manufacturing e) Marketing & Sales  The model ignores consumer needs and market requirements .A.

B. Market pull model  Second generation linear model  Consumer needs/ market requirements-key driver of innovation  Steps involved: a) Assessing consumer needs/market requirements b) c) d) Concept/idea generation Refining idea to meet consumer needs Design e) f) g) Engineering Manufacturing Test marketing &sales .

 Innovation Process Flexible Model  Explain radical innovation process in rapidly changing business environment  Phases are overlapped (i.e. Development in more than one phase can continue at the same point of time)  Ideas/improvements can emerge from any source and at any stage of innovation process  Model includes: a) b) c) Technology push + Market pull combination R&D + Marketing Cyclical Model .

Project start Concept Frozen Market Introduction Concept Development Implementation FLEXIBLE MODEL .