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Customer Inspired Innovation

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The customer is not the king but the NEVER SATISFIED DICTATOR.
Peter Fingar in his book Extreme competition

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The Innovation Process

Measurable Activities

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Measurable Inputs
Concepts

Measurable Outputs

Customer problems Competitor profiles Competent people Ideas received Financial resources Technology
Prototypes
Experiments

New Values New Products

New Services
New Designs New Processes

Communication & Evaluation

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Few Thoughts

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Never settle for the best: Great just isn't good enough. Google does not accept being the best as an endpoint, but a starting point. Through innovation and iteration, Google takes something that works well and improves upon it in unexpected ways. Larry Page founder Google

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Walmart is out in front .You can't just keep doing what works one time. Everything around you is always changing. To succeed, stay out in front of that change."
Lee Scot Chairman Walmart

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"The way you will thrive in this environment is by innovating innovating new Products, Values and Business Models for meeting untapped customer needs. Innovation today is about selecting and executing the right ideas and bringing them to market in record time.

IBM CEO - Samuel J. Palmisano

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Innovation

Change that creates a new dimension of performance. A business enterprise has two - and only two basic functions: Marketing & innovation. Marketing and innovation produce results, all the rest are costs. Peter Drucker

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Key to Success in the 21st Century

Twenty year ago the challenge was quality, 10 Years ago the challenge was reengineering. Today the challenge is strategy and innovation. The company must be capable of re-inventing its core business concept, not just in crisis but continuously year after year.

Professor Garry hamel, worlds most profound business thinkers in his address at the Indiatimes Strategy summit on 12th Sept, 2006.

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The Most Valuable Differentiators

Over the last two decades, many companies felt the most surefire way to maintain a competitive advantage in their industry was through quality or price.

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The Most Valuable Differentiators

The research at the Ernst & Young Center for Business Innovation (CBI) has revealed, however, that innovation has become just as important as one of the most valuable competitive differentiators.

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Creativity & Innovation

Creativity is the ability to produce new and original ideas and things. Innovation makes the idea practical and usable. The innovative activity in any business enterprise depends upon the creative contributions of its members. It also depends upon how the organization taps the creativity of its talented members.

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Relationship between Creativity and Innovation

Creativity

Screening

Innovation

INPUTS Ideas Daydreaming Observing Brainstorming

Criteria of evaluation

OUTPUTS Results Better Faster Cheaper Aesthetic

SCAMPER Tool for Generating Creative Ideas

S - Substitute - components, materials, people etc.

C - Combine - mix, combine with other assemblies or services. A - Adapt - alter, change function, use part of another element. M - Modify - increase or reduce in scale, change shape etc. P - Put to another use - Phones as music systems. E - Eliminate - remove elements, simplify, reduce to core. R - Reverse - turn inside out or upside down.

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Barriers to Creativity

Be as practical as you can

Follow all the rules That is not logical I am not paid to think Someone else may already be doing it To make a mistake is wrong If I share my ideas someone else may steal

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Innovation is Tough?

Many people think that innovation is a lucky flash of inspiration or a unique skill mastered by fortunate few.

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Innovation VS. Invention

Invention is discovering things that have never been discovered before. Innovation, on the other hand, is the discovery of new ways of creating value. Not everyone can be an inventor, but everyone can be innovative.

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Today Innovation is EASY!

Innovation is looking at NEW WAYS of adding value or resolving customer problems.

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Innovation Enablers

Cutting edge manufacturing technology Design softwares Internet & mobile technology State-of-the art capabilities Express delivery and logistics Substitute materials Packing technology Automation Retail chains

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Customer Insight

Customer Insight represents a deep understanding of customer needs and the drivers of customer behavior at a level well beyond what customers are able to articulate themselves. Customer Insight leads to opportunities for creating solutions that are tightly linked to the core drivers of human needs and behavior.

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Customer Insight

Developing Customer Insight includes: Understanding the explicitly stated or articulated needs of customers and potential customers, but more significantly. Identifying their unarticulated & unperceived needs

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Customer-Inspired Innovation

Customer-Inspired Innovation is the imaginative discovery of new products & services by matching deep insight into customer needs with an organizations capabilities in unprecedented ways

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Principles of Customer Inspired Innovation

Envision a future dramatically different from the present.

Engage the customer as a collaborator, partner and knowledge resource an integral part of the process. Challenge business boundaries and explores beyond existing comfort zone where breakthroughs reside.

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Industry Foresight

Customer Insight

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Non-traditional foresight techniques reveal emerging trends and drive speculation around alternative, futures and disruptive Opportunities. Non-traditional customer engagement techniques reveal unarticulated insights.

New Products

Customer Inspired Innovation

Cross-functional understanding of emerging trends, customer needs and

potential opportunities.

Strategic Alignment