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Innovation: Avnie Saxena Shravi Vikas Nagpal Mayank Phumra Aditya Goel Anmol Garg Prasenjit Bhuiya

An innovation strategy outlines a company's plan to grow through new products and services. It indicates whether improvements, disruptions, or breakthroughs are best. The goal is to create solutions that meet customer needs in profitable market segments. There are proactive, active, reactive, and passive innovation strategies that differ in their approach to technology and market changes. Innovation can occur in products, processes, solutions, channels, organization, and business models. Successful companies adopt practices like finding new growth areas, involving customers, using design thinking, and leading industry changes.

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122 views9 pages

Innovation: Avnie Saxena Shravi Vikas Nagpal Mayank Phumra Aditya Goel Anmol Garg Prasenjit Bhuiya

An innovation strategy outlines a company's plan to grow through new products and services. It indicates whether improvements, disruptions, or breakthroughs are best. The goal is to create solutions that meet customer needs in profitable market segments. There are proactive, active, reactive, and passive innovation strategies that differ in their approach to technology and market changes. Innovation can occur in products, processes, solutions, channels, organization, and business models. Successful companies adopt practices like finding new growth areas, involving customers, using design thinking, and leading industry changes.

Uploaded by

arushi anand
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

INNOVATION

Avnie Saxena
Shravi Vikas Nagpal
Mayank Phumra
Aditya Goel
Anmol Garg
Prasenjit Bhuiya
Innovation Strategy ?
An innovation strategy is a plan to grow market share or profits through
product and service innovation

When it comes to creating the solution, an innovation strategy must also


indicate whether a product improvement, or a disruptive or breakthrough
innovation approach is best

An innovation strategy is about creating winning products, which means


products that are in an attractive market, target a profitable customer
segment, address the right unmet needs, and help customers get a job done
better than any competing solution
Innovation landscape map
Types of innovation strategies:
Proactive
The types of technological innovation used in a proactive innovation strategy are:
Radical - breakthroughs that change the nature of products and services
Incremental - the constant technological or process changes that lead to improved performance of products and
services
Active
Active innovation strategies involve defending existing technologies and markets while being prepared to
respond quickly once markets and technologies are proven
Reactive
The reactive innovation strategy is used by companies:
which are followers
have a focus on operations
take a wait-and-see approach
look for low-risk opportunities
Passive
Companies with passive innovation strategies wait until their customers demand a change in
their products or services
Innovation Arenas
Product

Process

Solutions

Channel

Organizational

Business Model
The World's 50 Most Innovative
Companies*

2009 2008 Stock Retu Revenue GrowMargin Growt Known for its Most I
rns 2005-0 th 2005-08 * h 2005-08 ** nnovative
Rank Rank Company HQ Country8 *(in %) * (in %) * (in %) (% who think so)
1 1 Apple U.S. 5.9 30.4 15.8 Product (47%)
Customer
2 2 Google U.S. -9.5 52.6 -8.2 Experience (26%)

3 3 Toyota Motor Japan -20.7 4.2 -35.9 Process (35%)


4 5 Microsoft U.S. -8.0 13.5 -1.3 Process (26%)
5 7 Nintendo Japan 36.7 61.1 20.6 Product (48%)
6 12 IBM U.S. 2.3 4.4 14.3 Process (31%)

7 15 Hewlett-Pack U.S. 9.1 10.9 31.6 Process (39%)


ard
8 13 Research In Canada 24.6 74.1 11.2 Product (53%)
9 10 Motion
Nokia Finland -8.3 14.0 -10.3 Product (38%)

10 23 Wal-Mart Sto U.S. 8.0 9.1 -2.1 Process (49%)


res
*Business Week 2009
Management Model and Strategy Focus

Innovation

HP IBM
VIRGIN NOKIA

Autonomy Enterprise

GE
EXXON
TOYOTA

Optimization
The most successful growth companies adopt at
least four best practices:

Find the next S-curve


Leanon customers
Think like a designer
Lead the way
Thankyou

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