INNOVATION IMPORTANCE OF INNOVATION KEY SUCCESS FACTOR SHORTER PRODUCT LIFE CYCLES SPEED OF CHANGE

INNOVATION MAIN DIRECTIONS Adjustment; small changes Modification; maintaining technology, different function Renovation; same function, different technology Product, process or organisation

INNOVATION STATE OF MIND SUITS SME’S Quick Flexible Close to networks (suppliers/customers/staff) PROBLEM Finance Organisation

NOT INNOVATING INACTION IS BUSINESS SUICIDE NOT READY FOR RAPID CHANGE GRADUAL REDUCTION (Frog) NICHE TAKEN OVER INACTION IS BUSINESS SUICIDE

Developing your idea THE WAY WE THINK First stage thinking Attitudes Knowledge Skills Values Attitude/disposition Second stage thinking JUMPING !!! © 2004 Copyright Invent-DCU

Developing your idea BARRIERS Thinking in straight patterns Looking for 1 solution for the problem Giving the answer which is expected Automatically reject new and weird ideas Prejudice Fear

Developing your idea Intelligence Linguistic Musical Kinesthetic Spatial Logical Emotional © 2004 Copyright Invent-DCU

DEVELOPING YOUR IDEA Stages of creative thinking: 1. Move away: 2. Bring back into the world

DEVELOPING YOUR IDEA RUBISH IN, RUBISH OUT

BANDWIDTH Agriculture Media Banking Medicine/Health Construction Education Government Hospitality IT Utilities Media Medicine/Health Military Retail Telecommunication Trade Transportation

BANDWIDTH Technology bandwidth How much on your computer makes sense to you? Attention bandwidth How much do you remember? How much do you talk? How much do you listen? People bandwidth Who do you know?

DEVELOPING YOUR IDEA TECHNIQUES Brainstorming Attribute listing 6 prompts Mind mapping Random words Discontinuity/serendipity Parallel thinking Doodle Dream!!!!!

DEVELOPING YOUR BUSINESS Parallel thinking Information (white) Feelings/intuition/emotions (red) Risk assessment/caution (black) Optimism/how getting it done (yellow) Creativity/alternatives/ideas (green) Overview/managing the process (blue)

DEVELOPING YOUR BUSINESS YOUR OFFICE True commitment (do you want your staff to be smarter than you?) Humour Allow mistakes Share ideas (sharing is caring) Reward Brainstorm Hire unusual people Identify the joker

EVALUATE What is good about it? Why, why, why What is needed for implementation? What data do we need? Business plan process You Idea Formal Marketing Process People Finance

SPOT CHECK What it the quality of your innovation planning Level of ongoing product development Innovation as strategic focus Involvement of staff Portfolio of ideas for product development Manager(s) responsible for innovation

Level of ongoing product development The number of planned new products/services introduced in the next 3 years Feedback systems in place How systematic is the company's approach to innovation. Innovation as strategic focus The budget made available for innovation The management time planned to be spent on innovation. Involvement of staff Promoters' attitude towards staff involvement in innovation/product development Planned reward schemes for innovative ideas Training. Portfolio of ideas for product development The number of ideas under consideration Their stage in the development process What action is planned to progress them. Manager(s) responsible for innovation Qualifications Experience Organisational ability Planning ability.

RECAP STATE OF MIND PART OF BIGGER PICTURE DO OR DIE BLOW YOUR MIND TECHNIQUES BUSINESS PLAN

Ideas generation Not enough time is spend on idea development: Extend horizons Brainstorming Attribute listing 6 prompts Aim is to develop portfolio of ideas Innovation is life blood Buys time in future © 2004 Copyright Invent-DCU