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Innovation: Think Big, Act Small, Fail Fast and Learn Rapidly

Date post:06-Jul-2015
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No fast, simple method to great innovation. Innovation is a discipline or competency which must be developed. There is no instant innovation, no just add water innovation that will create real value
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  • 1. Islem YezzaInnovationThink Big, Act Small, FailFast and Learn Rapidly

2. Innovation is often given complex definitions. Weprefer the simple one: new ideas that workGeoff Mulgan 3. INNOVATION: Five DefinitionsThe implementation of new processes, products,1 organizational changes or marketing changesAn environment/culture that embraces positive change,2 creativity and continuous improvementResearch and development, new intellectual property (IP),3 and inventions4 Staying ahead in the market and being a market leaderSolutions that benefit society and societal outcomes5 (including environmental outcomes) 4. CreativityCreativity Does Not EqualInnovation: While creativityis about coming up with thebig idea, innovation is aboutexecuting the idea andmaking it a businesssuccess.Do not confuse the two 5. Successful innovation happens in 4 distinctareasProduct innovation: introduce new products and servicesahead of competitors, to anticipate consumer needsProcess innovation: reduce cost, improve efficiency and increaseconvenienceMarket innovation: The capacity of a firm to decide to changeits market, whether its geographically, virtually or creatively.Organizational innovation: convert creativity, market &customer knowledge & technology into marketable innovations. 6. Building Blocks - Five Core Values1 Curiosity and a natural ability to question the status quo2 Risk-taking and a willingness to learn from failureOpenness. Organizations with strong silos tend to be less3 innovativePatience, tenacity and the sense of giving an idea a chance4 to grow5 Trust, underpinning the other values 7. FAILOFTENFAILFASTFAILCHEAP 8. Innovative Leaders1 Associating -- the ability to make connections acrossQuestioning -- the ability to ask "what if," "why" and "why2 not"The ability to closely observe details, especially people's3 behaviorExperimenting -- the willingness to try new experiences and4 ideasSocial networking beyond your profession -- a curiosity and5 ability to learn from multiple social networks 9. Competency: Innovation is a skill, not a gift. It can be learnedby anyone and applied systematicCompetitive weapon: Innovative companies use innovationto differentiate themselvesProcess: innovation as an ongoing stream of effort alongwith quality, leadership, productivity, and other imperativesSystematic and opportunistic: The most innovative companiesflex between different styles of creating opportunity 10. Great way to accelerate your research and product development efforts 11. You cannot do everything byyourself: The culture went from oneof everything being done by us toletting ourselves be helped by others 12. U~sss~sU~s~ssssssssssss~8ssss~8ss s 13. No fast, simple method to greatinnovation. Innovation is a discipline orcompetency which must be developed. Thereis no instant innovation, no just add waterinnovation that will create real value

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