Innovation in Corporate World, case study from JobStreet.com

Innovation in new Global Employment Market

National Engineering Student’s Conference 2009,International Islamic University of Malaysia.

Slide 2 All Copyrights reserved



Higher Productivity Means Fewer Engineers

Pink has 3 questions for you about earning a living:1. Can someone overseas do your job cheaper?2. Can a computer do your job faster?3. Is what you offer in demand, in an age of

abundance? If you answered 'yes' to 1 or 2, or 'no' to 3, you

could be in deep trouble.

Ref: IEEE Today’s Engineer publication, http://www.todaysengineer.org/2005/Oct/commodities.asp


Contents About Innovation The Story of JobStreet Innovating in Start up vs Corporate Seeing and Planning What’s Next Techniques Motivating Innovation in Corporate World


Definitions What’s invention, innovation, entrepreneurship? Invention – Creating something new Innovation – Creating changes that create value for the enterprise Entrepreneurship – Seeing the opportunity to create extra value and

seizing it by developing resources (people, knowledge), systems and process to build a business to realize the value.

Startups will normally look at breakthrough or new market innovations with higher returns and risks.

Challenge is for corporate to be able to see and recognize these opportunities related to their core strength and act on it


JobStreet OverviewWhat We Do

JobStreet.com is an Online e-Recruitment Company One of the most established internet business models

Where We OperateMalaysia (1997) Singapore (1999) Philippines (1999)

India (2000) Indonesia (2006) Bangladesh (2006)

Japan (2007) Hong Kong (2007) Thailand (2008)

Why Are We Needed? Opportunities…. Job market is not transparent Recruitment process was slow People are more mobile and technologically savvy General trend moving to shorter employment stay Contract and home employment is getting popular


History

1995 Started Malaysia Online by Mark Chang1997 Spin off JobStreet.com1999 First round VC funding – Ramp up 2002 Second Round VC Funding2004 IPO (Mesdaq - 3rd Board)2007 Transferred to Main Board, Bursa Malaysia

“Through perseverance many people win success out of what

seemed destined to be certain failure.” ~ Benjamin Franklin


Online Recruitment PlatformEmployersMore than 50,000 Jobseekers

More than 6 million

SiVA LiNa

1. Register career preferences (free)

3. Be matched and notified

4. Apply online

7. Sit online test

2. Post job advertisement (pay flat fee)

5. Receive applications

6. Process apps, request tests, interviews, SMS

8. Receive test results

JobStreet Intranet CRM and OSS Systems

JobStreet.com

Employment

Exchange

(Internet)

JobStreet.com

Employment

Exchange

(Internet)


Sustaining vs Disruptive Innovation

©Clayton Christensen – “Seeing What’s Next”

Company improvement trajectory

Customer demandtrajectory

Hypermarket

TelephonePhotocopy Machines


How to See What’s Next?

• Build team and process to learn to see such changes and act on it

Undershot CustomersSigns that companies are introducing up-market sustaining

innovations.

NonconsumersSigns that companies are introducing new-

market disruptive innovations.

Overshot CustomersSigns that companies

are introducing low-end disruptions,

displacements, or moving close to

consumers.

Overshot CustomersSigns that nonmarket

players are taking action to increase or decrease barriers to innovation

1. Signals of ChangeAre there any signs that

someone is capitalizing on opportunities or change?

2. Competitive Battles

3. Strategic Choices

©Clayton Christensen – “Seeing What’s Next”


Analyzing Industry Competitive Forces

Porter, M.E. (1985) "Competitive Advantage", The Free Press, New York, 1985.


Innovation Examples


Innovation Examples


Areas of Innovation www.doblin.com


Building organization and process to support project mix

Classifying and Having Right Mix of Projects


Innovation Techniques Design Thinking

How do we get inspired - Gather (Observe end users)

How do we come up with possibilities - Ideate Brainstorm Lateral Thinking

How do we decide - Prototype


Example of Design Thinking


Motivating Innovation – Nice to Have


How a company appeals to employees


Motivating Innovation in Corporate – Must Have Mission (Purpose) and Vision (Picture of results) to guide/inspire

employeesJobStreet Mission: To improve lives through better career

Google Mission : To organize the world's information and make it universally accessible and useful

Culture that drives continuous improvement Expect/Encourage/Challenge

Make each person accountable for improvements Communicate x 10 Celebrate

Assess (Interpretation/Measure) Tolerate learning failures


Motivating Innovation in Corporate – Must Have Allow some flexibility instead of rigid process

E.g., Agile Development, Fail FAST Equip your people - Train people on Innovation

Techniques and Apply Open environment - expose as many to relevant

information/users. OK to report failures Hire right - people with right attitude to want to

get it better every day and is persistent Proper incentive

Does not have to be always $$$


Global Innovation Ranking 2008

#1 USA

#2 Germany#3 Sweden

#25 Malaysia

#24 Qatar

#9 Japan

#4 Singapore

Research pulication by INSEAD – business school of the world. http://www.insead.edu

Where are we?


Improving Lives Through Better Careers

"640K ought to be enough for anybody." Bill Gates, 1981


Thank You

Improving Lives Through Better Careers

Join JobStreet Forum at

http://forum.jobstreet.com discuss career options, seek scholarship opportunities or talk about innovations.

Email: [email protected]

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Innovation in Corporate World, case study from JobStreet.com