Innovate or Perish - Sustaining innovation vs disruptive innovation

Oct 6, 2016 | Publisher: manojranaweera | Category: Technology |  

Innovate or Perish Manoj Ranaweera Manoj.ranaweera@livestax.com| @manojranaweera | 07769734491 28th August 2014 Salford University Definition ¡  Innovation is a new idea, device or process. ¡  Innovation can be viewed as the application of better solutions that meet new requirements, in-articulated needs, or existing market needs. ¡  Innovation is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. ¡  Innovation is something original and, as a consequence, new, that "breaks into" the market or society. ¡  Innovation is a process that brings together various novel ideas in a way that they have an impact on society. ¡  Innovation (the use of a better and, as a result, novel idea or method) is not invention (directly to the creation of the idea or method itself). ¡  Innovation (notion of doing something different) differs from improvement (doing the same thing better). Innovation Types ¡ Sustaining Innovation ¡ Easier to achieve ¡ Live or die ¡ Disruptive Innovation ¡ Almost impossible to achieve within a mature company ¡ A game changer Sustaining vs Disruptive Sustaining Innovation Disruptive Innovation A process A process Bring better products/services New product/service Established customers New customers Existing markets Starts with bottom of market and then move up market Eventually displaces established competition Case Studies ¡  Uber – New company from disruptive innovation ¡  Kodak – Badly handled disruptive innovation ¡  Tradex – Constrained disruptive innovation ¡  LiveStax – Opportunity given to disruptive innovation. Uber! New company from disruptive innovation ¡  Whole taxi user experience re-invented. ¡  Whole taxi driver experience re-invented. Uber! New company from disruptive innovation E-Invoicing ¡ Disruptive innovation ¡  Removed paper process ¡  Reduced time ¡  Removed errors ¡  Shorter payment cycles ¡ Further disruption ¡  Supply chain finance Tradex Constrained disruptive innovation ¡ 1999 – First mover advantage ¡ Product Portfolio management – One of the many products ¡ Constrained by sector focus ¡ No opportunity to explore new markets ¡ Need to be profitable and contribute to the overall bottom line Personalised User Experience Platform Opportunity given to disruptive innovation ¡ Separate team ¡ Free to innovate, outside of corporate management ¡ Create own culture ¡ Not govern by profitability or revenue contribution ¡ Create new market ¡ New customers LiveStax Opportunity given to disruptive innovation Innovate or Perish Manoj Ranaweera Manoj.ranaweera@livestax.com| @manojranaweera | 07769734491 28th August 2014 Salford University

2014 Aug 28 Innovate or Perish.pptx.pdf

About manojranaweera

Founder of UnifiedVU and Venture 9. Previously Founder and CEO of edocr.com 

Help companies with digital and business transformation via process optimisation and system design, especially in the areas of bringing everything together for increased productivity and revenue growth.

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