Business Success Rules::

Strategies of Market Leaders

Innovation

Bringing New Ideas to Life

 

Vadim Kotelnikov personal logo Vadim Kotelnikov

Founder, Ten3 Business e-Coach – Inspiration and Innovation unlimited!

   

 

 

 

"Out there in some garage is an entrepreneur who's forging a bullet with your company's name on it. You've got one option now – to shoot first. You've got to out-innovate the innovators."  ~ Gary Hamel

 

 

Innovation vs. Creativity

Innovation vs. Invention

  • Invention is the creation of a new concept.

  • Innovation is reducing that concept to practice, and making it a commercial success.

Innovation vs. Science

  • Science is the conversion of money into knowledge.

  • Innovation is the conversion of knowledge into money.

Innovator: 8 Winning Habits

Customer-driven Innovation

7 Practice Tips

  • Involve everyone, require every person, regardless of their position, to spend time on customer contact and services activities. Ask all your employee to get on board with customer-driven innovation. Encourage experimentation and risk taking... More

10 Ways To Murder Creativity

  1. Ask for a 200-page document to justify every new idea... More

How To Succeed In Innovation

Humorous Business Plan

Innovation Management Team: "Few great men would have got past personnel."  – Paul Goodman...

Operational Plan: "The secret to creativity is knowing how to hide your sources." – Albert Einstein... More

6Ws of Corporate Growth

  1. Know HOW: know how compete, innovate, organize business processes, win and retain customers... More

 

Competitive Strategies

Survival Strategies

Market Leadership Strategies

Incremental Innovation

Radical innovation & Venture strategies

... More

Effective Innovation Process

7 Lessons from Silicon Valley Firms

  1. Seed new knowledge about innovation, including reinventing the innovation process itself...  More

Innovation-friendly Organization

3 Strategies of Market Leaders

3.  Relentless Innovation

  1. Venture Strategies

  2. Fast Company

  3. Innovation System... More

Inspirational Leadership

10 Roles

  1. Make relentless innovation a religion... More

The Jazz of Innovation

11 Practice Tips

The Jazz of Innovation: (A) create a guiding structure and (B) encourage improvisation.

  1. Provide strategic alignment.

  2. Challenge assumptions

  3. Build cross-functional expertise... More

Innovation Practice Tips

By: IDEO

  • Break rules and "fail forward" so that change is part of the culture, and little setback is experienced... More

Creating Competitive Disruption

7 Strategies

  1. Find new ways to improve customer satisfaction

  2. Find opportunities through understanding trends of change... More

3 Primary Criteria to Assess Your Innovation Portfolio

Besides assessing each initiative individually for risk, investment, return, and timing, assess your total portfolio to ensure that you have the right initiatives in it:

  1. Stretch and strategic fit. How much does your portfolio push the industry frontiers, and how well does it fit with your business goals and strategy? ... More

29 Obstacles To Innovation

5 Strategies for Creating a Culture for Innovation

  • Inspire: Provide an inspiring vision; lead innovation; emphasize opportunities, not problems; trust your people... More

Inspiring Culture: 5 Elements

How To Lead Creative People

By: Max DePree

  • When you have real innovation, don't compromise... More

Strategic Innovation

7 Dimensions

  1. Organizational Readiness – the ability to take action... More

6 Organizational Models that Support Innovation

  1. Innovation Project Team

  2. Expert Network... More

Perfect Brainstorming: 10 Rules

 

 

Innovation Defined

To innovate means to make changes in anything established and introduce something new.

Innovation is a process of taking new ideas through to satisfied customers. It is the conversion of new knowledge into new products and services.

Innovation is about creating value and increasing efficiency, and therefore growing your business. It is a spark that keeps organizations and people moving ever onward and upward. "Without innovation, new products, new services, and new business models would never emerge, and most organizations would be forever stuck doing the same old things the same old way."4

Innovation Is Love

Innovation is actually a very simple phenomenon.

Innovation is about Love: do what you love to do, and love your customers... More

Renewed Emphasis on Innovation

Shift to the new knowledge-based economy, combined with a dramatic increase in highly capable global competition, demands a renewed emphasis on innovation. Rapid changes in the competitive environment create the new world of competition - "a fierce contest set in truly global context, with more capable players, higher stakes, and vastly different rules of engagement from those that we have enjoyed to date."3 This new economy is led by those who innovate – create, find and/or combine knowledge into new products, services, and distribution methods – faster than their competitors. Innovation is above all spurred by entrepreneurial action, aimed at creating value through the application of knowledge.

Surprise To Win: 3 Strategies

Modern Systemic Approach to Innovation

Until recently innovation has been seen principally as the means to turn research results into commercially successful products, but not all research leads to innovation and not all innovation is research-based. Innovation is systemic.

It arises from complex interactions between many individuals, organizations and their operating environment. Firms which are successful in realizing the full returns from their technologies and innovations are able to match their technological developments with complementary expertise in other areas of their business, such as manufacturing, distribution, human resources, marketing, and customer service... More

Steve Jobs' 12 Rules of Success

  1. Innovate. Innovation distinguishes a leader from a follower. Delegate, let other top executives do 50% of your routine work to be able to spend 50% your time on the new stuff. Say no to 1,000 things make sure you don't get on the wrong track or try to do too much. Concentrate on really important creations and radical innovation. Hire people who want to make the best things in the world... More

3 Strategies of Market Leaders

The market leader is dominant in its industry and has substantial market share.

If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More

Creating Great Customer Value: 9 Questions To Answer

Different Forms of Innovation

Until recently innovation has been seen as the means to turn research results into commercially successful products or services. Today, while research keeps playing its critical role as a major contributor to innovation, many new forms of innovation have emerged. They include system's approach to integration of new technologies and processes from other fields, new business models and ways of doing business, and new ways of reaching and servicing customers.

Innovation can have different:

  • focus: technology, organization, or external relationships,

  • types: incremental or radical, and

  • sources: technology transfer or development of new business models/concepts.

Technological Innovation Alone Is Not Enough

Facing a tidal wave of global economic, technological and social change, you are not going to survive in the new rapidly globalizing economy through technological innovation alone. If you are going to withstand relentless global competition, you need to radically change the way of doing business.

Strategic Innovation

Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for customers and the corporation...  More

16 Ways to Avoid the Hassle of Commercializing University Technology

By: Terry Collison

If you have a technology policy and a procedure, make sure nobody in the university community actually understands what it is. Complexity is good... More

Blue Ocean Strategy: 6 Principles

Blue Ocean Strategy is about revolutionary value innovation.

The six principles drive the successful formulation and execution of Blue Ocean Strategy. These principles attenuate the six risks... More

The Art of Innovation: 9 Truths

By: Guy Kawasaki

  1. Jump to the next curve. Too many companies duke it out on the same curve. If they were daisy wheel printer companies, they think innovation means adding Helvetica in 24 points. Instead, they should invent laser printing. True innovation happens when a company jumps to the next curve – or better still, invents the next curve, so set your goals high... More

Creating a Culture for Innovation

The question for leaders today isn’t if culture is important for success but how culture can drive successful innovation – and what, specifically, leaders can do to influence the kind of culture that leads to behavior that’s truly innovative... More

Freedom To Fail

Noble Failure

DOs and DON'Ts of a Successful Innovator

By: Peter Drucker

DOs: Start small – try to do one specific thing...

DON'Ts: Don't undershoot, or you will simply create an opportunity for competition... More

Leadership-Management Synergy

Leaders: Lead improvisation. Managers: Provide structure.

Resulting synergy: Jazz of Innovation... More

Inspirational Leadership: 10 Roles

Inspirational leaders create an inspiring culture within their organization. They supply a shared vision and inspire people to achieve more than they may ever have dreamed possible. They are able to articulate a shared vision in a way that inspires others to act.

People do what they have to do for a manager, they do their best for an inspirational leader... More

 

 

You Innovate To...

Forms and Sources of Innovation...

Innovation: A Paradigm Shift...

Hard vs. Soft Innovation...

Principles for Driving Growth Through Innovation...

Diverse Routes to Innovation...

Strategy, Product, and Process Innovation...

Leading Innovation...

Value Innovation...

Business Innovation...

Strategy Innovation...

Product / Service Innovation...

Process Innovation...

Technology Innovation...

Organizational Innovation...

Marketing and Presentational Innovation...

Creative Marketing...

The Power of Taking a Different View...

Entrepreneurial Action – the Engine of Innovation...

Entrepreneurial Creativity...

Managing Innovation by Cross-functional Teams...

Radical Project Management...

 Case in Point  IDEO...

 Case in Point  AT&T: Developing New Credit Card Service...

 Case in Point  Silicon Valley Companies...

 Case in Point  British Petroleum...

 Case in Point  Quantum...

 Case in Point  Charles Schwab...

 Case in Point  Apple's Innovation Strategies...

 Case in Point  Fun4Biz...

 Case in Point  Innovarsity...

 

 

    

 

References:

  1. Driving Growth Through Innovation, Robert B. Tucker

  2. Communication on Innovation Policy, European Commission,

  3. Relentless Growth, Christopher Meyer

  4. 1001 Ways to Take Initiative, Bob Nelson

  5. Effective Innovation, John Adair

  6. Making a Difference, Bruce Nixon

  7. The Art of Innovation, Tom Kelley

  8. Tom Peters, Foreword for the The Art of Innovation, Tom Kelley

  9. 20 Breakthrough Ideas for 2005, Harvard Business Review

  10. Value innovation: The Strategic logic of high growth, W. Chan Kim and Renee Mauborgne

  11. Lateral Thinking Skills, Paul Sloane

  12. The Leader's Guide To Lateral Thinking," Paul Sloane

  13. Improve Your Lateral Thinking: Puzzles To Challenge Your Mind, Paul Sloane

  14. Innovation and Entrepreneurship, Peter Drucker

  15. Venture Catalyst : The Five Strategies for Explosive Corporate Growth, Donald L. Laurie

  16. Radical Innovation, Harvard Business School

  17. Innovation Management Techniques (IMTs)

  18. The Open Innovation Marketplace, Alpheus Bingham, Dwayne Spradlin

  19. It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, J. Jennings & L. Haughton

  20. The Innovative Enterprise, Harvard Business Review

  21. Real Time Business Development