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Innovation: The Intersection of Invention & Value

One of the biggest problems that a company faces when starting an innovation program or project is to reach consensus on the definition of innovation. This is more than a semantics issue. Without agreement on exactly what the goal is the company is unlikely to achieve it. This leads in many cases to the problem of "innovation fatigue" where innovation is nothing more that a buzzword. We are proposing a new definition of innovation that cuts through the fog and results in a practical approach that increases the probability of success for innovation projects. In this presentation we discuss: o A new definition of innovation that applies not just to products but to services, business models or business processes o How to relate innovation and value o Examples of invention vs. innovation: Segway vs. Electric Scooter, Orkut vs. Facebook, Disposable razors vs. Fusion, Blackberry vs. iPhone

Additional Supporting Materials

Questions

  1. Why being new is not enough for something to be called innovative
  2. What is necessary to define the innovation as incremental, radical or disruptive -
  3. What are the different methods and approaches that can be used to manage the different types of innovations
  4. How different types of innovations must be managed differently within the development process
  5. How to increase the probability of success in long range or disruptive innovation projects

Speakers

Organizer

Jose Briones, Sr. Consultant, C-Level Advisors


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