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Measurable items in business :
Growth in profitDebt/EquityCustomer incrementReduction in maintenance Improving margin and EBITAImproving Market share
….. etc.
Transformational
Innovation
For
SMART
PPE
Category Marketplace
TechnicalInnovation
TransformationalOperational
Operational innovatio
Characteristics :
Improve work life and productivityImproves financial performanceCustomer experience through efficiencies and processes
Operational innovation
Business attributes :
Focus on how to improve companyAllows for cost savingOperates on project management details
Examples :
Assembly line automationComputerised automation systemOnline inventory control
Operational innovatio
Category innovation Characteristics :
More evolutionary than revolutionaryDriven by consumer needsNew breakthroughs or new customer segmentsValid business case
Business attributes :
Profitable, investor friendlyPredictable revenue and time lineLed by business opportunity than technology
Examples :
Intro of RFID and GPSE-commerce or web availabilityMaking CFL to replace lamps
Operational innovatio
Marketplace innovation Characteristics :
Competitive market needImpacts multiple categoryDefined with new features and benefits
Business attributes :
Incremental revenueMaximises cross functional participationLong term potential
Examples :
OVRM in carPayPal, Ola etc.Synthetic glove
Characteristics:
Revolutionary breakthrough changing societyDriven by curiosityProvides benefits to our societyCreates follow on for Category, Marketplace and Operational levels
Examples :
Usage of bio or alternate fuelBio-degradable and recycling materialSocial responsibility
Business attributes :
No defined P&L or timelineAdoption rate unclearRisk-reward ratio is exceptionally higher
Transformational innovation
Resource allocati on Return esti mati on
60%
10%
25%
15%
10%
25%
5%
50%
Transformational
Marketplace
Category
Operational
Incremental innovation
Big corporates use less than 20% of R&D fund in Transformational innovation.
More ideas or Better ideas?
Faster we move an idea to concept, higher is chance of getting concept into market, hence trajectory of growth.
Define the problem before the
brainstorming – keeping in mind we are looking for fewer ideas.
Enable staff to self assess ideas – this will improve
idea quality
Actively manage SN to refine ideas – use
crowdsourcing platforms to generate
feasible ideas
Motivate stake holders – like customers,
vendors etc.Success is a step away!!
1. Is sufficient resources allocated for transformational innovation?
2. Is the idea sourced high quality at front end of our innovation?
3. Is enough time to nurture those ideas into concept for market testing?
Mallcom (India) Ltd.EN 12, Sector V, Salt Lake City
Kolkata 700091, IndiaT: +913340161000, F : +913340161010
E: [email protected], W: www.mallcom.in
References :
http://www.innovationexcellence.com/blog/2012/03/25/four-types-of-innovation-%E2%80%93-part-3/
http://www.innovationmanagement.se/2012/07/26/5-key-success-factors-to-enable-transformational-innovation-within-businesses/
http://www.isb.edu/cee/open-enrollment-programme/transformational-leadership-tapping-your-personal-dna
2015
© M
ALLC
OM
. All
right
s re
serv
ed. R
epro
ducti
on p
rohi
bite
d. A
ll re
spec
tive
trad
emar
ks a
re
ackn
owle
dged
. Mal
lcom
and
The
logo
Mal
lcom
are
regi
ster
ed tr
adem
arks
of M
allc
om (I
ndia
) Ltd
.Thank you!!