Using New Technologies to Forge a Path to Tomorrow’s Innovations

The Innovation Map Internal Continuous Discontinuous External Technological innovation Partner interfaces Internal structures and processes Operational Innovation Management Innovation Processes Networking People Management Continuous Discontinuous Disruptive Innovation Brand Supply Chain Product & Service Innovation Strategic Innovation Customer interfaces and experiences Technological innovation New offerings Blue Ocean Strategy Channels External New markets

WHY INNOVATE? It’s fun Integral part of your value proposition Supports an exit strategy Make money or make more money Compete Andy/CommPartners Event Moderator Survive 3 3

Innovation Management Innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of processes and goals. The Five Sub-Process for Innovation Management

Objectives of Innovation Management The Technology and Innovation Management business unit focuses on the following key objectives: Developing and implementing innovation and technology strategies Increasing organizations' capacity for innovation Organizing innovation and research and development effectively and efficiently using lean processes Identifying, evaluating and exploiting new technologies Setting up and supporting technology and innovation networks Intellectual property: IP for innovation IT support for R&D, technology and innovation management

Concepts Collaborative Innovation Network: a social construct used to describe innovative teams Diffusion of Innovations: a theory that seeks to explain how, why, and at what rate new ideas and technology spread through cultures Open Innovations: a paradigm that assumes that firms can and should use external ideas as well as internal ideas Pro-Innovation Bias: the belief that an innovation should be adopted by whole society without the need of its alteration Technology Forecasting: the prediction of future characteristics of useful technological machines, procedures or techniques.

Concepts Technology: Meeting the needs of society in ways that can continue indefinitely into the future without damaging or depleting natural resources through the use of emerging technologies. Creative Problem Solving: The invention, innovation, design and application of products and processes to reduce or to eliminate the use and generation of hazardous substances that's what we do best. Green Infrastructure: An approach that organizations can choose to maintain healthy waters, provide multiple environmental benefits and support sustainable organizations. Smart Cities – A Self Sustainable Township Concept: Integrated Water and Waste Water Management ICT’s and Renewable Energy (reduction in carbon footprints) District Cooling System Integrated Waste Management (towards Zero Waste)

Innovation Matrix

Managing: Innovation Portfolio

The Future of Innovation Management Key Steps for Future Success: Customer-based innovation is a good thing if it is based on developing insights about what the customers need. This is not necessarily what the customers say they want. Customers rarely come up with big breakthrough ideas of, say, an iPad-like nature. Companies’ approaches to defining value have been too narrow. Companies need to think about how to partner in new ways with others to create and capture more value. Frugal Innovation, sometimes referred to almost interchangeably as “Reverse Innovation‟, is all about originating and developing innovations in lower-income, emerging markets. A good example of frugal product innovation is the hand-held electrocardiogram (ECG) machine that was invented in GE‟s Bangalore laboratory. In some cases, these developments can even be used to deliberately lengthen the product life cycles because a growing part of people is objecting to ever-shorter life cycles from a sustainability point of view. Also complexity management will be a regulating factor. Developing systematic innovation management frameworks that travel beyond the NPD function is an important goal for future business success

Management Innovations for the Future of Innovation Management Innovations in the Near Future: First, Innovation Management will become more collaborative Second, Business Model Innovation will become as important as Technological Innovation Third, we will need to master the Art and Science of Innovating in Services-led Economics Innovation is constantly changing, as is the process by which new ideas and technologies get to market.

Case Study – Nest Thermostat Meet the Next Gen Thermostat: Learns your schedule, Programs itself

Conclusion The closer we look at modern technologies, the more likely we are to see platforms, and even platforms embedded within platforms. Who wins and who loses these competitions is not simply a matter of who has the best technology or the first product. It is often who has the Best Platform Strategy And The Best Ecosystem to back it up.

With Thanks….. Shailesh Jha, Environment Engineer, Executive MBA (IIT Delhi)