BRIDGING THE GAP FROM IDEA TO BENEFITS BV.L.NARAYANA SPTM/RSC/BRC

BRIDGING THE GAP  ENCOURAGEMENT OF NEW IDEAS – Rewards – A supportive climate for innovation Clear top mgmt message Tolerance for experimentation – Hire innovative people – Encourage cross pollination of ideas – Support for innovators

BRIDGING THE GAP  Opportunity recognition – Unfolding process– potential slowly realized – Buyers utility map—look at stages of use by customers—purchase, delivery, use, supplements, maintenance, disposal—map it against utility— productivity, simplicity, convenience, risk, fun and image, environment friendliness  Rough cut evaluation – Strategic fit – Technical competence – Business competence

BRIDGING THE GAP

 Two processes – Funnel model – Stage gating model  Issues – Nature of criteria to allow ideas to continue – Time given for development and experimentation – When should it be killed—time, stage

BRIDGING THE GAP  Summing up – Conversion of ideas to benefits requires Selection of ideas Developing them to prototypes Testing prototypes Establishing feasibility –Of production –Of end use Implementing the idea –Allocate resources, drive implementation –Maintain feed back and correction