7 Ways to Corporate Innovation

Nikita Garg

Shreya Juneja

Cluster Innovation Centre, University of Delhi

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TECHNOLOGY INNOVATION

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“Innovation is part of the Amazon DNA and over the past 15 years we have been constantly adding and refining technology that enhances and improves the experience of all our customers."

-Xavier Garambois,Vice President, EU Retail, Amazon

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1-Click• Fast & easy way to order from

Amazon.co.uk with one click of a button.

• Automatically enabled after the customer places their first order with Amazon.co.uk.

• Remembers key details such as delivery addresses

Recommendation• Amazon determines

customers' interests by examining the items they've purchased, items they've told Amazon they own, & items they've rated.

• Their activity is compared with that of other customers on the site.

• Amazon is able to recommend other items that may interest them.

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Amazon Wish-List• Personalised list of all the

things that customers would love to own from the Amazon.co.uk website.

• customers can add products from any website to their Amazon Wish List with one click.

• Friends & family are able to view the list…use it to purchase the perfect present.

Amazon Cloud Drive• Lets customers securely store

their digital files in the Amazon cloud and access them anywhere using the Cloud Drive desktop client or any web browser.

• Amazon customers automatically start with 5GB of Cloud Drive storage for free, with additional storage available from £6 a year for 20 GB.

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KDP• Giving authors the opportunity

to publish their books and earn a larger share of revenue with Amazon.co.uk's 70 per cent option.

• Many authors are using this as a way to get their books in the hands of readers across Europe.

Amazon Storyteller• New application that lets you

turn a movie script into a storyboard.

• You choose the backgrounds, characters, and props to visually tell a story.

• A successful storyboard can tell the full story of a script, or capture its essence in short form, like a trailer.

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MARKETING INNOVATION

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“Has as much relevance as some 100 years ago when the three Harley brothers and the Davidson boy started the company.”

“Harley Davidson is best at convincing people. They’re the best.”

“Daring.”

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From the beginning, Harley-Davidson always had an exclusive Harley Owners Group. This group actually hosted Harley-Davidson parties, bike weeks, and many other exclusive to Harley-Davidson motorcycle owner events throughout the year.

Differentiate Harley bikes from Honda and Yamaha by stressing the military background of Harley and connecting their branch of service with Harley motorcycles.

Emphasis on Global Branding.

Advertisement Here.

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PRODUCT INNOVATION

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A face cream made in 1951, created from an entire egg, reinforced with ingredients which act on the skin like Hormones, but which are not.

Estoderme Youth-Dew Crèm

Perfume wasn’t used daily or bought by a woman for herself. Youth Dew, a bath oil doubled as a fragrance. It took the industry by storm; women could smell intoxicating without feeling guilty

Youth Dew

First to develop an anti-aging product Night Repair. The most expensive creams of those times.

Re-Nutriv

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STRATEGY INNOVATION

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• Just-in-Time (JIIT): Dell no longer had to predict the right parts to order

• Direct-to-Consumer: cut out the retail middleman and sell its products directly to the consumer

• Customers pay to order. Dell orders the necessary parts from suppliers and builds the custom PC.

• Dell can wait up to a month before paying its suppliers, so the company earns interest on customer payments in the meantime.

Low costs Faster service Dynamite Business Model

Eliminate Inventory. Eliminate Middlemen.

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PROCESS INNOVATION

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• Conceived in 1910; Implemented in 1913• Inspired by slaughterhouses in Midwest• Model T featured interchangeable parts, assembled in a speedy

and organized fashion

• Profit Margin increases; Cost for consumers decreased• Labor Working hours decreased; Wages were doubled

Assembly line Technique

Production time for single car dropped from over twelve hours to 93 minutes

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ORGANIZATIONAL INNOVATION

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80% time on core projects

20% time on company related

interesting activities

80/20 Innovation Time Off (ITO) model

• Gmail, Google News and AdSense, have been reported to originate from the ITO

• Keeps employees challenged & engaged, to aid in retention and maintain a steady learning curve for the employees

• Google Grouplets - Group of engineers, who share interest in the same idea, work together to make that idea become a reality.

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BUSINESS INNOVATION

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“Offer shoppers lower prices than they get anywhere else”- Sam Walton

The Everything store

What helps Walmart

Cutting edge-technology

Push to make suppliers sell

at cheaper prices

Focus on rural areas

Frugal culture

1. Bar Code2. RFID

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References

• http://www.businessinsider.in/The-Innovations-That-Took-Amazon-From-Online-Bookseller-To-Dominant-Global-Marketplace/articleshow/24196873.cms

• http://www.slideshare.net/jonenglund/harley-davidson-marketing-plan• http://

mercedestabanoii.com/innovative-marketing-strategies-that-changed-the-world.html• http://www.forbes.com/2002/08/01/0801marketers.html• http://money.howstuffworks.com/wal-mart.htm• http://money.howstuffworks.com/5-influential-business-models.htm#page=9• http://www.forbes.com/innovative-companies/list/• http://www.conferenceboard.ca/cbi/innovation.aspx • http://www.conferenceboard.ca/cbi/innovation.aspx• http://money.howstuffworks.com/mcdonalds.htm

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Thank You!