Islem Yezza

Think Big, Act Small, Fail Fast and Learn Rapidly

Innovation

“Innovation is often given complex definitions. We prefer the simple one: ‘new ideas that work”

Geoff Mulgan

Research and development, new intellectual property (IP), and inventions3

An environment/culture that embraces positive change, creativity and continuous improvement2

Solutions that benefit society and societal outcomes (including environmental outcomes)5

Staying ahead in the market and being a market leader4

The implementation of new processes, products, organizational changes or marketing changes1

INNOVATION: Five Definitions

Creativity Does Not Equal Innovation: While creativity is about coming up with the big idea, innovation is about

executing the idea and making it a business

success. Do not confuse the two

   Creativity

Product innovation: introduce new products and services ahead of competitors, to anticipate consumer needs

Organizational innovation: convert creativity, market & customer knowledge & technology into marketable innovations.

Process innovation: reduce cost, improve efficiency and increase convenience

Market innovation: The capacity of a firm to decide to change its market, whether it’s geographically, virtually or creatively.

Successful innovation happens in 4 distinct areas

Openness. Organizations with strong silos tend to be less innovative3

Risk-taking and a willingness to learn from failure2

Trust, underpinning the other values5

Patience, tenacity and the sense of giving an idea a chance to grow4

Curiosity and a natural ability to question the status quo1

Building Blocks - Five Core Values

FAILOFTEN

FAILFAST

FAILCHEAP

The ability to closely observe details, especially people's behavior3

Questioning -- the ability to ask "what if," "why" and "why not"2

Social networking beyond your profession -- a curiosity and ability to learn from multiple social networks 5

Experimenting -- the willingness to try new experiences and ideas4

Associating -- the ability to make connections across1

Innovative Leaders

Systematic and opportunistic:  The most innovative companies flex between different styles of creating opportunity 

Process:  innovation as an ongoing “stream of effort” along with quality, leadership, productivity, and other imperatives

  Competitive weapon: Innovative companies use innovationto differentiate themselves 

Competency:  Innovation is a skill, not a gift.  It can be learned by anyone and applied systematic

Great way to accelerate your research and product development efforts

“You cannot do everything byyourself”: The culture went from oneof “everything being done by us” to

“letting ourselves be helped by others

1. The future belongs to those who innovate, and doso collaboratively

2. The secret of business innovation is to think big,act small, fail fast and learn rapidly

3. Innovation success is primarily dependent oncorporate culture

4. Innovation depends less on tools and processesbut on people

5. Managing Innovation is about Managing Change

No fast, simple method to greatinnovation. Innovation is a discipline or

competency which must be developed. Thereis no instant innovation, no just add water

innovation that will create real value