Innovation Strategy & Implementation Case Study: Clearview Ltd.

Learning objectives Understand the role of innovation and the processes for generating innovative business ideas.   Identify and understand models used to map innovation Understand the how businesses manage innovation and the key roles of individuals involved in innovation.

The successful exploitation of new ideas to realize opportunities Schumpeter’s (1934) Five Types of Innovation: New products or services New methods of production Developing new markets Identifying new sources of supply New forms of organisation Go over what innovation is (and perhaps what it ‘isn’t just’ – It isn’t just creativity, it’s creativity that is applied to new ideas w/in an organization or to start a new business. It is not just a new invention, a one-off, etc. It is often a constant part of a firm’s strategy and is increasingly necessary in an interconnected world where barriers to knowledge and access to other ideas/businesses are decreasing for consumers. What is innovation?

Why do you think innovation is important to a business? Are there businesses that do not need to innovate? In the past, many organisations have been able to survive even with very limited amounts of innovation. They focus on providing quality products and simply update them to a level that maintains their competitiveness in the market. This method still applies to some products with long lifecycles and few opportunities for innovation. Discussion questions

Who innovates? Entrepreneurs Intrapreneurs Top-down Bottom-up Entrepreneurs bring innovation to the start-up, but also need to be aware of the need to keep innovating. Intrepreneurs are w/in an organization and see innovative opportunities from withing. Bottom up challenges are for managers who need to balance innovation with viability. Top-down, needs to be implementable and need buy-in from the implementers below. Who innovates?

4Ps of Innovation Space Francis & Bessant (2005) Product Innovation What a company offers its market; changes in a product or service. Process Innovation How a company creates the product/offering; Changes in how a product is brought to the market Position Innovation How the offering/product is positioned; Changes in the story a company tells about a product. Paradigm Innovation How the company ‘frames’ its offering/product? Changes in the ‘mental model’ underpinning what the enterprise does. Product: This one is likely the easiest to picture. Think of car manufacturers coming out with a new model every year or Apple coming out with a new iphone. It can also be more disruptive, like the first electric car or the first iPad. Process: Think about how services have changed to the way we do things. A few years ago, speaking with someone far away always involved the telephone. VOIP systems mean we can use our computers. Renting a hotel room used to mean using a travel agent to book or calling the hotel directly. Now we have online booking engines, and non-hotel choices like air bnb. The processes can be more behind the scenes, as businesses can improve their logistics internally or can improve their supply chain operation to operate more efficiently. Position: Think about businesses that suddenly targeting different segments of a market (think of a food company switching its target from parents to children with changes in advertising/branding or airlines w’ additional classes of service (economy premium/plus) target a market that no one had tapped (low-cost airlines targeting lower-income travelers, online degree programs) Paradigm may be the hardest to conceptualize from this description. Think of a brand ‘reinventing’ what a concept means to the market. Book sales used to mean a bookstore, but Amazon reinvented it to mean an online marketplace. Dyson reinvented the home appliance market to be one focused on high-technology items. iTunes reinvented what we think of when we conceptualize our music collection. Brands can reinvent what they mean as well- IBM changed from a hardware supplier to a consultancy/services firm and completely sold off its product manufacturing arm. There can be overlap! 4Ps of Innovation Space Francis & Bessant (2005)

4Ps of Innovation Space: 4 Direction Model Paradigm Mental Model Position Process Product/ Service These should not be all thought of as mutually exclusive, rather they all feed into innovation and all can impact one antoher. Each innovation dimension is on a continuum 4Ps of Innovation Space: 4 Direction Model Francis & Bessant (2005)

UK Software Developer, providing strategy and performance software Business intelligence consulting services A few words about who Clearview is Case study: clearview

Case study: clearview In their own words: Clearview gives you a single, connected approach to managing your organisation. We do this through our innovative, web-based software products and supporting implementation and consultancy services. We can help you create and execute your strategic plan, manage your performance, search, report and understand your information and engage positively with your customers. We strive to deliver excellence and value for money and have a unique approach to our customer relationships, This is from their website, it frames the next questions. Case study: clearview

Case study: clearview Pre-video discussion How would you predict that Clearview uses innovation in its operations? Where in the 4Ps would you expect to see innovation at Clearview? Who would you predict is responsible for identifying and implementing innovation at Clearview? Case study: clearview

EMBED VIDEO Case study: clearview

Case Study Discussion questions Map Clearview’s innovation strategies onto the 4Ps Framework. Are there any areas on the 4Ps that you believe Clearview had not addressed? Any areas that you believe fall outside the 4Ps? Identify any gaps you perceive in Clearview’s approach to innovation. Who are the main individuals involved in innovation at Clearview? Looking ahead, where should Clearview focus to improve innovation? Case Study Discussion questions

Francis, D. & Bessant, J. (2005) Targeting Innovation and implications for capability development, Technovation, 25 (3), 171-183. References

This project was funded by: