Innovation
Jan 04, 2016
Innovation
Agenda
Defining innovation
Analyzing innovation
Protecting innovation
Defining innovation
Innovation & business
"Business has only two functions, innovation and marketing.”
- Peter F Drucker
“Creativity is thinking up new things. Innovation is doing new things.”
- Theodore Levitt
Innovation distinguishes between a leader and a follower.“
- Steve Jobs
Creativity vs. Innovation
Creativity generates new ideas that may inspire innovation
Innovation generates solutions that may create value
Entrepreneurs need both creativity & innovation
Creativity drives innovation
Innovation is driven by entrepreneurs!
Using creativity to innovate
Tools• Brainstormi
ng• Brain
writing• Mind maps• Force field• Etc.
Innovation Machine
Where to Innovate
Effects of process & product on value
Source: Derived from the PIMS (Profit Impact of Marketing Strategy) database
Shhhhh...
Analyzing innovation
Stages of New Ventures
Idea
Pitch
Feasibility
Plan
Implement
Schumpeterian Trilogy
Innovation
Diffusion
Invention
Invention
Innovation
Diffusion
Protecting innovation
Intellectual Property (IP)
Challenge for organization to transfer knowledge within enterprise to a tangible product or service thus creating IP.
Multiple forms of IP:Patents
Copyright
Design Rights
Trademark
Patents
Must meet:Novelty
Inventive Step
Industrial Application
Patentable Subject
Clear and Complete Disclosure
Copyright
Expression of ideasVarious from country and material type.
Generally, 50 years from death of author/artist
50 years from creation for any recordings video or audio
©
Design Rights
Similar to copyright, but applies to 3D items
15 years, unless commercially used then 10 years (North America – 25 years EU)
Legos
Trademark
Logo
Applies to:Businesses
People
™
℠
®