This 21st century globally connected world of diversities driven by technology provide great opportunities for innovations and yet at the same time obsolete many existing products, business rules and best practices. Our common understanding about innovation does not lead us to breakthrough success in this new world. Innovation is more than just new products or even new services. It is not about just having more features or better technology. Such thinking could not explain why computer based Apple is able to dethrone the phone leader Nokia in the Smartphone market. 

This 2 day course covers the real secrets of successful innovations. Innovation is about creating value though design thinking mindset. Customers don’t buy products but an outcome through a wow experience. Decision making doesn’t just follow economic reasoning alone. Emotional and social factors are important too if not more. You don’t need more features but just few meaningful features implemented in greater depth. Such are some secrets for creating High payoff business innovations which will be covered in greater details to enable you create a new business model and offerings. 

We will cover the process of innovation and the life cycle. From success of one innovation, we must learn how to have the strategies, culture and systems to create sustainable flow of innovations. Survey of the Innovation Strategies of the most successful companies helps us to pick a strategy that suits our company. Other related issues like intellectual property rights are covered.

COURSE OUTLINE

• Understanding Innovation, Business Value Creation & customers’ mindset. The design thinking skill for innovation.
• The different types of Innovation and Developing the Business Model for Differentiated meaningful offering.
• Generation of Innovative Idea using Systematic Innovation Methods like TRIZ & BVITS
• Using the tools of Customers Experience Features Matrix Tools and The MiniMax Meaningful Differentiation Chart.
• The Innovation Process from Ideation to Commercialization
• Market Development Life Cycle and the diffusion of innovations. The right types of innovations for the various stages of growth.
• Learning from the Innovation Strategies of Successful Corporations
• State of Arts thinking on innovations from Disruptive Innovations of Clay Christensen, Blue Oceans of Kim Chan, Escape Velocity of G Moore, John Kao and others.
• Understanding Corporate Culture and Creating the Innovative Culture to sustain innovations and renewals without being obsolete.
• Understanding Intellectual Property Rights & other tips

LEARNING OUTCOME

The attendee after completion of the course will be able to:

• Have a full understanding of Innovation – value creation, types, and market development life cycle.
• Create differentiated, meaningful new business model resulting in high payoff
• Know the whole process of innovation from ideas to commercialization.
• Create the innovative culture and the systems for sustained innovations
• Understand the factors at play for successful innovative companies like Apple, Google and others and avoiding the pitfalls of Kodak.

Instructional Methodology:

• Lecture and Workshop for exercises.
• Case Studies of Successful Innovations and Innovative Companies

TARGET AUDIENCE

Who should attend:

Professionals who want to start a new business within an organization or to spin out to a new start-up.

Product and Marketing Managers and R&D personnel looking for directions, guidelines and productivity for creating the killer offerings.