Measurable items in business : Growth in profit Debt/Equity Customer increment Reduction in maintenance Improving margin and EBITA Improving Market share.

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Presentation transcript:

Measurable items in business : Growth in profit Debt/Equity Customer increment Reduction in maintenance Improving margin and EBITA Improving Market share ….. etc.

Transformational Innovation For SMART PPE

Category Marketplace Technical Innovation Transformational Operational

Operational innovatio Characteristics : Improve work life and productivity Improves financial performance Customer experience through efficiencies and processes Operational innovation Business attributes : Focus on how to improve company Allows for cost saving Operates on project management details Examples : Assembly line automation Computerised automation system Online inventory control

Operational innovatio Category innovation Characteristics : More evolutionary than revolutionary Driven by consumer needs New breakthroughs or new customer segments Valid business case Business attributes : Profitable, investor friendly Predictable revenue and time line Led by business opportunity than technology Examples : Intro of RFID and GPS E-commerce or web availability Making CFL to replace lamps

Operational innovatio Marketplace innovation Characteristics : Competitive market need Impacts multiple category Defined with new features and benefits Business attributes : Incremental revenue Maximises cross functional participation Long term potential Examples : OVRM in car PayPal, Ola etc. Synthetic glove

Characteristics: Revolutionary breakthrough changing society Driven by curiosity Provides benefits to our society Creates follow on for Category, Marketplace and Operational levels Examples : Usage of bio or alternate fuel Bio-degradable and recycling material Social responsibility Business attributes : No defined P&L or timeline Adoption rate unclear Risk-reward ratio is exceptionally higher Transformational innovation

Transformational Marketplace Category Operational Incremental innovation Big corporates use less than 20% of R&D fund in Transformational innovation.

Innovation requires spending more time in refining fewer ideas. More ideas or Better ideas? Faster we move an idea to concept, higher is chance of getting concept into market, hence trajectory of growth.

Define the problem before the brainstorming – keeping in mind we are looking for fewer ideas. Enable staff to self assess ideas – this will improve idea quality Actively manage SN to refine ideas – use crowdsourcing platforms to generate feasible ideas Motivate stake holders – like customers, vendors etc. Success is a step away!! 1.Is sufficient resources allocated for transformational innovation? 2.Is the idea sourced high quality at front end of our innovation? 3.Is enough time to nurture those ideas into concept for market testing?

Mallcom (India) Ltd. EN 12, Sector V, Salt Lake City Kolkata , India T: , F : E: W: References : %E2%80%93-part-3/ enable-transformational-innovation-within-businesses/ leadership-tapping-your-personal-dna 2015© MALLCOM. All rights reserved. Reproduction prohibited. All respective trademarks are acknowledged. Mallcom and The logo Mallcom are registered trademarks of Mallcom (India) Ltd. Thank you!!