2. Definition - An innovation strategy is a plan to grow market share or profits through product, process and service innovation.

3. Innovation strategy is not about selecting activities to pursue that are different from those of competitors.
Creating winning products
Target a profitable customer segment Address the right unmet needs
Help customers get a job done better than any competing solution.

4. Innovation Strategies that Failed!

6. A coherent set of interdependent processes and structures that dictates how the company searches for novel problems and solutions, synthesizes ideas into a business concept and product designs, and selects which projects get funded. 

7. Case Study - Corning’s Breakthrough Innovation

9. Innovation Map

11. The vast majority of profit comes from the stream of routine, or sustaining, 
Innovations
that accumulate
for years afterward
Routine Innovation
Managers should strive to achieve the optimal balance between disruptive
and sustaining
efforts.
If you disrupt and can’t sustain, you don’t win

12. Disruptive Innovation
Disruptive innovations don’t have to rule the market, they just have to change the market & force others follow suit. The goal of disruptive market is to challenge the conventional market & create new one

13. Radical Innovation

14. Architectural Innovation
An innovation that combines technological and business model disruptions.
Architectural Innovations are most challenging to pursue

15. Innovate to create value for Customers
Induce customers to pay more
Save money
Larger social benefit Create value in mind of customer

16. Easier to use than competitors Value in terms of Voice and Data
Solar Energy

17. Case Study - Creating Value for Customers!

18. The transistor was invented at Bell Labs in 1947

19. The first computer built with transistors, which paved the way for modern computing, was built at Bell Labs in 1954

20. The first communications satellite, which looks a lot like the Death Star, was developed at Bell Labs in 1966

21. The charge-coupled device image sensor paved the way for digital photography, and was invented at Bell Labs in 1974

22. Capturing Share of Value through Company’s Innovation
Value creating innovations attract Imitators
Creation of price pressure over innovator
Supplier – Distributor – Company Relation

23. Capturing Share of Value through Company’s Innovation
Complementary Assets, capability, products, services - Apple iPad, iPhone, iMac – controlling OS
Continue investing in Innovation
Come out of Routine Innovation - iPhone X

24. Innovation Practices Customer Involvement Crowdsourcing - Advantages
-Disadvantages
Customer Involvement
Staff involvement
- Jio SIM given as free service for 6 months before launch
Demand Pull / Supply Push Strategies

25. What is the best type of Innovation?

26. Contingent Factors of Innovation
Rate of technological change
The magnitude of the technological opportunity
The intensity of competition
The rate of growth in core markets
The degree to which customer needs are being met
The company’s strengths.

27. Leadership Challenge
Choosing the Right Strategy – Different for different industry
How are we expecting to innovate?
Plan for allocating resources
Manage Trade offs
Facing Senior leadership