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Innovation and the search for Malaysian Airlines MH370

Mar 18 Aj Khan
March 18th, 2014

The search for the missing Malaysian Airlines flight MH370 has once again started a discussion about how to use innovative techniques to ensure that relevant data in greater amount is available for airliners while in flight.  Currently, the main sources of data for any investigation are the Flight Data Recorder (FDR) and the Cockpit Voice Recorder (CVR), also known as the “black boxes”. However, as was obvious from the search for flight Air France 447 which went missing in 2009 over the South Atlantic Ocean, finding and recovering these black boxes can be a time consuming and extremely challenging exercise.  And even if the “Black Boxes” are recovered, there is no guarantee that all the data would be available for detailed analysis on these damaged boxes. 

 

A Canadian company, FLYHT Aerospace Solutions Ltd. has come up with an innovative approach for such an eventuality with an existing and simple solution i.e.  Data Streaming through Satellites.  This solution has been discussed and explored before.  However, the biggest challenge was the cost of streaming all the data in real time through satellites.  This would be very expensive and was not financially feasible so far.  Also, flying has become increasingly safe and certainly events such as the disappearance of MH370 are extremely rare.  Flyght’s approach to solving this problem is to define “triggers” which would start transmitting more flight data continuously rather than periodic maintenance data which is sent out under regular flying conditions.

https://medium.com/evidence-base/47c7e89600ba

 

Another innovative approach to trying to solve the mystery of flight MH370 is to use crowdsourcing to search for the missing Boeing 777 through Satellite data.  There are currently 2.3 million people who are using Tomnod to scan for any signs of the missing plane in thousands of square kilometres of the Indian Ocean.    You can join the search yourself at http://www.tomnod.com/nod/

http://www.theguardian.com/world/2014/mar/14/tomnod-online-search-malaysian-airlines-flight-mh370

 

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SONY GOT HACKED...AGAIN!

Dec 19 Ateeq Rehman
December 19th, 2014

Sony had long and successful career in almost every product in their portfolio TV, DVD, Play Station e.t.c. and they claimed themselves to be the best IT security company on the planet until a young boy with the age of only 18 years hacked the iOS device called the iPhone and became the first person to unlock iPhone to be used on any network the user liked. There was a law suit and surprisingly enough the biggest brand of the world Apple has lost the battle and it became legal to jailbreak ones iPhone to be used on any carrier the user like after they purchased the phone. The young hacker got so much attention in hacking community that they started supporting him on his other projects.

After the iPhone incident the young hacker was started to be known as Geo Hotz and started the new project of hacking the Play Station 3 by Sony. At first no one paid any attention to the matter, not even Sony but suddenly that young boy successfully hacked the Sony Play Station 3 and was able to successfully extract the propriety code from the machine and boot his own self made operating system on to Play Station 3. Sony got the news and retaliated and F.B.I was after the young hacker from that day onward the down fall of Sony started and Sony became the number one enemy of the specific hackers group. Sony did the case won the case and successfully fined the young hacker but strangely enough people from all over the world protected the boy and started the donation system for the boy and successfully paid off the fines Sony has implemented.

From that onwards the Sony was the key target of hacker all over the world and as a result Sony faced the biggest breach in the history if any IT company where Sony’s employee personal data users personal information and its company financial information was released to the public and the disaster was so big they until now Sony is on fire fighting state and will be in current state for quite some time. The current projects are halted and whole company is on disaster management situation.

My point of sharing all this information is to highlight the problem big companies face all the time e.g. Apple Fappening and Sony recent hacking incident both are IT hacking but both reacted to the problem in a different manner and managed the disaster caused by the hackers. Innovation and Creativity is the key to success and to manage a bad situation creativity and Innovation at same time Innovation is how can that problem be resolved and creativity is how to how efficiently you implement that solution. Basically Innovation Strategy and Innovation Creativity is needed to successfully resolve a bad situation and turn it into a normal or even a good situation by utilizing the opportunities that have risen by that particular situation and eliminating the threats that have emerged by that situation.

We at IICIE are proud to present industry leading certification of “Certified Business Innovation Manager” where we teach managers how to react to the threats of the industry and exploit the opportunities creatively and efficiently. 

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Creativity Replicate for Innovation

Dec 19 Nosherwan Adil
December 19th, 2014

The words ‘creativity’ and creative have been hi-jacked by the world of advertising. The actual mean of word stands here for something definite to individuals who aware with Mad Men or Thirtysomething advertising stereotypes. Thus, the scenario contains the classic advertising where creativity was the pictorial, placement or replicate intelligence implemented at the end of new product procedure and occurred when it was period to market downstream.

The ancient concept of world ‘bumpers creativity’ from tactic or planning strategy or R & D. At all these sections were previously reserved for intellectuals, numbers crunchers, chemists, or forecasters. If ‘creativity’ were endorsed in these serviceable fields, the supplier and outcome would be postponed or uncertain.           

We are learning that creativity is whatever which brings significance and value to its anticipated spectators. Intelligent companies are looking patter to move far from the ‘Just-Build-It-I-told-You’ model. In actual companies are determining that the purely logical way of tackling strategy or R & D has many restrictions than benefits. To grasp the attention of world effectively, companies are learning to capture the creative upstream. Hence, this change indicates that we have progressed from industrial Era to the Age of Innovation.     

Therefore, upstream creativity means the basic business strategy and model is questioned in various formats – not just on worksheet instinctive downloads, drafts of latest version of the model and traditional market trends are part played a role on newly procedure. Upstream creativity means companies should engage themselves with their customers and find out to discover assistance for product and services. Upstream creativity means that there are signs, administrative chamber and sticky records in the boardroom. Upstream creative is the vibrant procedure which requires feet’s to develop and believes complete involvement from its entire team.  Brilliant companies permit recursive philosophers to encounter, stimulate, even incite everything too status quo which prevents development.

Overall the essential thing is world has changed and now global economy is led by companies which consider invention as a significant. In this develop industrial Era; boom of creativity was utilized as a means to distinguish products downstream. Now, in this time of Innovation, perfect, consistent and suitable way to triumph in the marketplace is to get creative with the entire business, business model, R & D etc.

As James Bertrand said "Once we rid ourselves of traditional thinking we can get on with creating the future."

Welcome back, Creativity. Yes, you were lost on several floors of businesses from too long. Downstream, Upstream and everywhere. Implementation of creativity is worthy for business and good for innovation.  

 

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Progression of innovation

Jan 29 Ateeq Rehman
January 29th, 2015

Apple is one of the largest brands in the world. People trust Apple and Apple have never let them down in the past and hopefully they will continue to amaze us with their new innovations and innovative ideas in the form new and improved technology or is this the future we would like to see but honestly I don’t see this in our future. The way technology is progressing and has progressed in the past few years the age of incremental change is coming to an end and we need a radical change now.

The year was 2007 and at the Apple's Worldwide Developers Conference Mr. Steve Jobs introduced a radical change in the industry of smart phones by the introduction of iPhone. The first smart phone combining a phone, an internet browser and an iPod (the best music player of that time) but combining these three components was not the radical move but the touch screen technology used for the phone’s screen was capacitive touch technology rather than resistive touch technology and that changed the game of whole smart phone industry and they didn’t stopped there, Apple also introduced a concept of an app store for the  phone where users can download applications and games directly to the phone (not a radical idea but implementation was an incremental innovation). Since then all over the globe every phone manufacturer followed the Apple’s designee philosophy and introduced the incremental innovations on the top of first radical innovative idea. Since then the technology has progressed so much that our smart phones have became an extension of ourselves and we can’t even imagine living without them.

The Key point is after series of incremental innovations we need a radical and a total game changing innovation where at first it looks and sounds so out of place that many won’t believe in it at first but soon enough people can relate to the idea so much so that they can even imagine their lives without it. The radical ideas are mostly there to stay for long term gains and incremental ideas are for short term gains a good example of that could be after every year Apple release a new iPhone where there is very little software and hardware improvements to keep up or generate the demands of the users. But in order to make a company’s survive long term radical innovation is the solution.

We at IICIE help guide new Innovators and Entrepreneurs to unlock their hidden potential and channel their innovative juices towards the current demand of the market, whether they need an incremental innovation or a radical innovation. We just don’t stop there we stay with them till the end of the process.

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Valentine’s Day or Global Innovation Day

Feb 20 Ateeq Rehman
February 20th, 2015

Let me be honest about this blog post, this is the month of February and it would be wrong if I won’t talk about Valentine’s Day. So let’s do this and carry out some evaluation and analysis of the biggest and most celebrated day of the year.

The year was 270 AD, a roman priest was about to make the history but in the process got martyred. The saint Valentines of Terni was high level priest with good heart and broad vision of making the world a better place by continue to defy the norms and culture enforced by the Emperor Claudius while helping out young men get married which was outlawed at that time. As soon as Emperor Claudius got the wind of the actions carried out by Saint Valentine the order was passed and Saint Valentine was martyred. The thought was simple and a courageous a man took risk by doing something that others dare not to perform and the result was the world’s most ancient and most celebrated holiday. To this day people around the world celebrate the Valentine’s day not knowing what was the story behind it at all but applauding the gesture by expressing their feelings to their loved ones.

One man took risk by doing something that he believed in and 1745 years later his nobel gesture and vision is still celebrated and that is what the power of doing something new and innovative has in it. Now a days, new innovators and entrepreneurs have brilliant ideas and they even know how to put their idea and thoughts into action but lack the courage to take the first step afraid of failure and disappointment they live under the shadow of their fear and lack of trust in themselves. The Valentine’s Day reminds us that there are no bad ideas, all we which needed is, clear focus and will to go to extra mile and will to change the future. If Steve Jobs have decided that no one will buy the iPod or the iPhone then we would not have been the part of digital age where knowledge of whole world is in the palm of our hands and information is only one click away. What if Larry Page and Sergey Brin thought no one will need to know the information and stopped the development of Google would we be still living knowing things we know now?

My point is as necessity is the mother of invention and everyone has needs hence everyone is capable of innovation but lack the courage to take the first step or lack the tools to put the idea into action. What if there is such a platform where new ideas get nourishment and converted into plans and those plans later put into action. What if there is some way we can ensure that all of the new ideas get fair chance to compete into the market and team of trained individuals who deliver your message to global audience. I use to think the same until I joined IICIE and I think my search has come to an end. I am pleased to announce that IICIE is the platform where future begins. Just remember “we’re all stories, in the end. Just make it a good one”

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Digital Music Innovation

May 04 Ateeq Rehman
May 4th, 2015
From uncompressed WAV audio format of the Compact Disk to highly compressed MP3’s to lossless audio formats, digital audio has seen its fair share of transformation, sometimes it is radical change, but most of the time it is incremental change with little addition or in other words an up gradation was happening was happening. Many of us won’t recognize that the main source of music consumption has shifted from analog to digital very incrementally. From magnetic tapes to audio CD’s to MP3 players to iPods and now smartphones everything in audio industry has shifted towards the digital platform in the favor of convenience and easy availability.

The progression of music from analog (magnetic tapes) to digital formats (for iPod and MP3 players) seems like a natural progression, but behind every step of progression there was endless research and innovation. The digital audio might be easy to transfer and safe for future usage, but the idea behind high quality audio file, there was years of research and through that research and efforts the digital audio file became a reality. The progression didn’t stop there after development of the audio formats there come the problem of distribution of that file to the end users. Distribution of audio files seams straight forward task but when the variables of piracy and copyright come into play all concerns of convenient went out of the window.

From the early start there was many websites and peer-to-peer sharing software’s that distributed the audio files illegally and caused major damages to the music industry through which efforts the digital formats came into being. The problem was at hand and a creative solution was required to overcome this problem. In 1998 Apple Computer announced iTunes, a digital platform where users can buy digital music directly from Apple and can save the file locally in their computer, iPods or can keep their files online for later consumption. The idea was user will pay one-time fee for a song and can enjoy it for the rest of their life. The idea was so successful that it created a revolution in the digital audio industry and spawned many more digital audio distribution industries based on same principle. 

At the end the whole idea was innovative but not properly executed hence whole formula was disrupted. The key aspect of any innovation is “Innovation = Invention x Commercialization”. The idea and innovation was there, but lacked the commercialization part which Apple catered to perfectly and now in 2015 the digital music industry just beat down the physical music industry and in coming year’s trends will continue to go in favor of digital music.

To learn more about Innovation and Entrepreneurship join IICIE for its industry leading CBIM certification where you can learn how to better understand how can you convert your invention or idea into commercial success.
 
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Product Innovation Vs Process Innovation

Jun 10 Ateeq Rehman
June 10th, 2015

 There are two kinds of innovations, product related innovation and process related innovation. Today I am going to explain what are the fundamental differences between both of them with the help of real life examples and how new innovators and entrepreneurs can better understand what type of innovation they actually require.

 

June 29, 2007 was the date when first ever iPhone was launched and it was technology beyond anyone’s imagination. The first iPhone was a marvel of new innovation and the product was so beyond its time that other competitors couldn’t even keep up with the technology and biggest cellphone maker of that tine NOKIA had to sell its operations to Microsoft because it was unable to keep up with the technological innovation the Apple has brought. At that time the new innovation was product related and every company in cellphone business had to adapt and evolve to new trends set by Apple. It took quite a while for other competitors to catchup with the technology of Apple and son after that process of incremental improvements started and haven’t stopped yet. This all was related to product innovation and Apple has clearly defined itself as a market leader in product innovation.

 
After that initial radical product of iPhone the Apple has to continuously evolve itself as to sustain itself as a market leader and to achieve that not only product innovation was necessary but process innovation came into play. Soon after initial product launch the apple has launched various services like app store and cloud storage to keep its edge over others but soon Google launched its mobile operating system known as Android where no new product innovation was happening but the innovation was totally based on service side and streamlined the process which shaped the mobile industry we know now a days. The main concept behind Android was that it is an open source platform where any one can modify their devices to their hearts content a feature which was missing from apple to this date and soon after that android started process innovation trend where no value adding process are eliminated with the passage of time and new value adding process are introduced into the system. Granted the product innovation and incremental innovation played a vital role in the whole process but the whole focus was towards the process innovation. Soon after that Apple catches up to the Android process innovation and introduces its own process innovation.
 
To this date apple products with much lower hardware on paper out preform the best and the best devices running android because of process integration done within the operating system by Apple so much so that devices running at half of the power can compete with devices running full power by the competitors.
 
We at IICIE pay close attention to product innovation as well as process innovation. During the incubation period of all new startups a complete evaluation of their ideas are conducted to better prepare them for the commercialization oriented results.
 
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Management Role Impact on Innovative and Special Skills Employees

Jun 28 Nosherwan Adil
June 28th, 2015

In this fast pace era the role of management consider significant when it talks about employees involvement which can define the better culture of once organization. When it comes to employee retention policy top management should require concentrating empowerment strategy. In most cases innovative and special skill employees should be in top priority because they gain technical knowledge on specialise product handling. Today where innovation is revolving in bigger prospective it brings the challenges for employers to become innovative in their field.  

 

To understand the management role at various levels for employees to evaluate the performance criteria equally should require significant concentration. Employee of special skills with innovative mind-set deserve for the higher pay. As the rank command proposes, many employees’ position goes to these who effort occupations need complex degree of exceptional skill, qualified liberty from persistent and direct supervision, and offer the prospect to arrange and direct clients wishes and manners instead of simply answer to them as spontaneously communicated. However, few management roles should require on equality for all man and women employees where the right should be substantially equal because it’s about job content not title.  

  

Employee involvement and participation actively in define role can influence management decision. Most of time management signifies about kind of corrosion of management’s ability to take judgments individually without referring any kind of consideration to the opinions or desires of employees. In an approach it suggests the wearing away of the traditional master–servant relationship among employees and managers. In some cases management decisions are strict and they justify employees consequently in their individual prospective to how employee present their self at the interview. Such as few employees with innovative and special skills not much confident on the role in organization, hence later on they started work as a lower rank in one of the attractions.     

 

Special skills and innovative employees learn and develop procedure by spending time on knowledge gaining methods. Knowledge management can be one of the influential aspects which managers should require to adopt for providing better training to employees. Employees who have good technical knowledge and know how to deal customers from different prospective always get opportunity to rise in their salaries. Higher salaries and performance recognition can lead to positive employee engagement. Employee engagement is influential for healthy work and brings productivity towards workplace. Moreover, the high quality work or high pays of employee can demonstrates one’s country economy best status. E.g. the employees who are more engaged at work station and getting good salaries have good employee annual report which lead to increase in productivity and performance.

 

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Microsoft Windows 10 a Software Innovation

Jul 31 Ateeq Rehman
July 31st, 2015

Microsoft the world largest software company has recently launched its latest and greatest operation system Windows 10. Now the question is not about what’s next it is more about how far they have come along since Windows 1.0 era and more importantly how much they have evolved in terms of pure innovation. At the time Windows 1.0 was launched, it was completely a new and innovative of using computer through graphical user interface. Before that time there was only DOS and although it was a powerfully operating system it lacked the ease of usage and more importantly user appeal in terms of user interface. Since then windows has moved to more graphical inclined user interface and never looked back since. The first operating system introduces by Microsoft which actually used graphical user interface was windows 1.0 it was announced in 1985. At that time the step Microsoft took to go with the more graphical user interface was the radical decision and it paid off with increase in sales and over all company growth.


After windows 1.0 Microsoft has released one operating system after another and to be honest not all of them are huge success but there are few names that to this date can spark the sense of familiarity among PC users and those names are Windows 98, Windows 2000, Windows X and Windows 7. There were many releases in between these releases but none of them managed to grasp the user’s attention like these four releases grasped. Now Microsoft has once again release its latest operating with the name of windows 10 and once again it is time to evaluate that weather windows has done something innovative, can it be a commercial success or it will also become a part of those forgotten releases like before only time will tell. This time the innovative part done by Microsoft is that the operating system is launched across its eco system e.g. PC, mobile, Tablet and Xbox.

Although Microsoft is a huge company and practically unlimited resources at its disposal but not every company has such kind of resources but every company can be as innovative as Microsoft. We at IICIE help nourish such small businesses and startups to reach their potential by help guiding them through our innovating expertise and extensive experience in startup promotion on international scale through our network of affiliates spread across the globe.  IICIE can help you become next BIG thing.
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Business Innovation Certifications: The Key to overcoming the Corporate Innovation Challenge

Oct 06 Aj Khan
October 6th, 2015

In today’s dynamic and globalized economy, large Corporations continue to face threat from disruptive innovation from new and unknown start-ups in many diverse industries.   Corporations are facing disruption in market segments such as New Media, Technology, Green Energy, electric cars, or even more traditional and stable ones including banking, airlines, telecom, mining or transportation.  Nimble start-ups have developed new products, services or business models to disrupt that market segment and become a dominant player in it.  Corporations have recently focussed on building in-house corporate innovation sills in order to remain competitive.  They have also tried to inculcate a spirit of entrepreneurship (intrapreneurship) across the company to aggressively combat those agile start-ups.

Despite these significant efforts, many Corporations continue to face significant challenges in enabling a corporate culture of innovation.   The primary challenge for most corporations continues to be the development of internal skills focussed on innovation.  Most courses on innovation focus only on the content and do not take into account the factors inhibiting corporate innovation.  These include factors such as fear of cannibalization, structural obstacles to invention, desire for predictable and consistent results, personnel risk/reward incentives, and lack of team-based innovation learning and development.   The last factor is especially critical as most often, individuals rather than cross-disciplinary teams are given innovation-oriented goals.  

Corporations can overcome these challenges by focussing on a business focussed innovation certification.  Such an innovation certification has more to offer to a corporate organization than just the actual content of the certification.  A Business Innovation Certification should have corporate focus by answering questions such as how to sell your ideas in a corporate environment? It should also detail strategies for gaining adoption and sponsorship in a corporation by aligning ideas with overall business objectives.  Another key to the success of such a business innovation certification is to enable an intrapreneurship culture in an organization where individuals learn to be persistent yet flexible.  Such a certification should also have a team-based approach to certification projects with senior management as corporate mentors for the certification.  Finally, the certification should lead to membership of global community of passionate innovators entrepreneurs who can add value to each other’s endeavors.

By following this approach, corporations can unleash the potential of internal innovation by enabling their employees to become Innovation Heroes who can lead them into the next wave of organic corporate growth and success across the world. 

Author: AJ Khan is the CEO of the International Institute of Certified Innovations and Entrepreneurs (IICIE Inc.), a global body offering premiere certifications in innovation and entrepreneurship.   

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Compete Or Lead – The Corporate Struggle For Innovation

Oct 07 Andrej Bondarenko
October 7th, 2015

 

 

Size Dose Not Matter

 

No matter the size of your company you must create internal entrepreneurship capabilities to stay competitive in the forever changing and growing global marketplace. We are not competing locally anymore, but internationally with some of the world’s top executives, entrepreneurs and businesses. New companies born are more dynamic, adaptive and receptive to new market demands will surely put a comfortable organization out of business.

 

Getting to Comfortable = Risk

 

 

90% of organizations think they are too slow in innovation when it comes to entering a new market. 80% of their products and services released will also fail. Majority of the failures will occur due to entering the market late according to a recent article by Harvard Business Review. Even the largest organizations can get too comfortable and forget to keep up with the latest trends and advancements. This can be seen by looking at Kodiak, Blockbuster, Nortel, Sears and others. Organizations need to think of systematic ways to innovation.

 

 

Educate yourself, educate your employees

 

It all begins with education and let’s all agree while innovation is important it’s not an easy task. Culture shifts towards innovation and collaboration pose a difficult task for all entrepreneurs and senior executives. For innovation to happen a company culture must change its environment toward flexibility and better communication, but most importantly it all needs to start with education. Innovation is a very broad word and a lot of individuals don’t understand there is a systematic way of approaching to creating a better innovation ecosystem. Before innovation can happen individuals need to educate themselves and most importantly their employees. 

 

Break the Barrier by Being More Active

 

Companies which take the approach to educate and encourage communication break the innovation barriers. New products, services, processes or even cultural ideas leap beyond all competition and create new advancements - competitors will be racing to catch up. A great example of this would be the mobile industry. Before touch screen phones all mobile organizations were competing in releasing a better same handheld device. This was the technological or you can call it the innovation barrier. There was nothing better in the market beyond these particular handheld devices. Flashy buttons, branding, marketing and hardware were the only differentiating factors separating them. Once touch screen phones were released a new innovation barrier was formed. In order to stay in the market all mobile companies now have to catch up or risk the fear of going out of business.

 

Will You Be Comfortable?

 

Which company are you going to be? Will you encourage innovation or be comfortable until your market experiences a drastic change. Let’s also remember innovation can be applied to your processes, cultures and services – not limited to products. These are the new leading innovation barriers you don’t get to see.

 

 

Author: Andrej Bondarenko is the Director of Sales of the International Institute of Certified Innovations and Entrepreneurs (IICIE Inc.), a global body offering premiere certifications in innovation and entrepreneurship.   

 

 

 

 

 

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Lean Storyboarding For Innovation Projects

Sep 10 Raamish Rana
September 10th, 2016

Lean start-up principles are growing increasingly in importance in some of the most renowned sectors of the likes of healthcare. According to Tim O’ Rielly, it hinges on the principle of “how can we learn quickly from mistakes to augment what works while discarding what does not.”

 

Lean Storyboarding finds amazing application in the book by Nathan Furr, and Jeff Dyer: “The Innovator’s Method: Bringing the Lean Start-up into Your Organization” highlighting what Rod King identifies as providing best means for applying Lean Storyboarding to risky projects and decision-making in organizations.  

 

According to Rod King, “Lean Storyboarding refers to a tightly integrated set of tools for rapid lean improvement and innovation that lead to radically successful business models (under conditions of extreme uncertainty).”

Further, Rod King also identifies that Lean Story boarding is finding wide applicability today in businesses of all types, for two important reasons: firstly to achieve “rapid lean improvement, and innovation” for business model refinement and growth, which has become a necessity for survival in competitive environments. Secondly it is deployed for purposes of achieving “highly desirable outcomes developed under conditions of extreme uncertainty, and purely with the objective of solving problems for the customers, business decision-making, and experimentation” . 

 

The attractive value proposition of Lean Storyboarding has entailed corporations to act more like Lean Start-ups. The lean start-up methodology was coined by Ries and is built on the notion of hypothesis generation, adequately validating the hypothesis at every step, learning from the outcomes, and further refining to develop a product from what is initially a “Minimum Viable Product (MVP)” to what can be a “Viable product”.  

 

Rod King has identified the merits of Lean Storyboarding approach providing that after 3-5 years of its useful application, the Innovation Premium of companies increased over 57%.

While applying Lean Storyboarding concept, it is important to realize that a number of questions will hold importance as identified by Rod: 

- Is the (discovered/given/assumed) business model engine profitable, scalable, and sustainable?

- What is realistically the industry competition

- How is the business environment?

- What is the product market fit and does product solve serious problems for customer.

With its wide-spread benefits Lean Storyboarding is likely to become a core mechanism used by big corporations.

 

According to Rod, corporate giants like General Electric, Toyota, and Intuit are actively adopting Lean Storyboarding mechanisms.

Therefore based on the benefits of Lean Storyboarding it is not hard to understand that current business trends of high competition has made this approach a sort of best practise for corporations, and its applicability can reap benefits in the short to long term for SMEs and large corporations alike.

Source: Rod, King: “LEAN STORYBOARDING: Successfully Facilitate Lean Improvement and Innovation Projects”. web

 

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Corporate Innovation – Evaluating Necessity Of Lean Practices

Sep 16 Raamish Rana
September 16th, 2016

Today, a competitive marketplace dictates that highly innovative products capable of solving customer needs in the most value generating ways are created. Innovation and product development functions typically operate under complex and unique challenges.

According to James.P.Womack, co-author of Lean Thinking, Lean is defined as “Creating ever more value for customers with ever fewer resources.”  

Lean Solutions in innovation and product development functions must combat the challenges without necessarily hampering creativity or potential for great ideas to succeed in the market place. It has become a widespread practice in a number of manufacturing companies around the world. Notably GE is renowned to implement lean innovation practices. 

Important parameters of consideration for Lean Innovation Managers include:

 • Produce at a cost well below the price the customer is willing to pay.

• Deliver and service through a distribution channel that can reach the target market cost effectively.

• Differentiate from the competitive alternatives.

Source: Romero, Geovanny. "The Principles of Lean Innovation." Innovation Excellence. N.p., n.d. Web.

As per the Lean Management Experts, the necessity of lean practices emerge as a disproportionate amount of time and effort is wasted in product development or innovation is directly linked to innovation processes not working properly.

Therefore there is a dire need for companies to balance out innovation related activities systematically with the necessary objectives of reducing wastes in the system while maximizing value for the customers. 

In the book, Lean Product Management, Lean Enterprise Institute together with Greg Cohen identify five steps and principles necessary for effectively implementing Lean Innovation. These include:

- Customer Value identification: Identify value from the perspective of customer

- Value Stream mapping: Identify all the steps for value creation process while removing steps not creating value with a core emphasis on customer throughput and wait times

- Establish flow: Accumulate value creating steps in close-fitting sequence to enable value flow as quickly as possible through system

- Create Pull: Given flow of value to customer, it is believed that value will be pulled through the system by the customer and at the rate of customer demand

- Look for “Perfection”: repeat the aforementioned four steps until all the system wastes are removed.

(Source: Lean Enterprise Institute, and Greg Cohen. Lean Product Management. N.p.: n.p., n.d. Print.)

Thus as has been highlighted, Lean Innovation practices combines the art of customer value maximization with reducing wastes in the system to generate synergizing effects for both customer and the firm. This mechanism can further go a long way in impacting a company’s product portfolio and bottom line.

(Source: FOUR PRINCIPLES – THE LEAN MANAGEMENT EXPERTS( web:http://www.fourprinciples.ae/solutions/lean-innovation)

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Top Business Innovation Trends From Practices Of Innovation Leaders

Nov 04 Raamish Rana
November 4th, 2016

In the modern times, the term innovation has often come to use more frequently than ever to define solutions to the business problems at hand. The need for innovation has escalated to enlarge the set of tools that businesses can use to tackle business growth challenges. One of the other most frequently used tool - enhanced operational efficiency is not necessarily in itself a growth enhancing mechanism. Therefore it can be beneficial to deeply understand and analyze the trends defining innovation in modern day world. 

 

- Strong focus on customer: As being supported by design thinking to solve customer problems, innovation success hinges closely upon the extent to which customer needs are met, and an important customer problem being solved. For example: Apple’s ipod provided one of the most brilliant of innovations replacing other mediums such as Walkman through sheer emphasis on its compactness, maximum storage and customizability to needs. 

 

- Embracing the practice of Open innovation: To realize the peak of innovation, it might be plausible to argue that conventional rules have to be broken. This entails that no longer are businesses limiting their emphasis upon specific departments, or within the company as a whole to extract ground-breaking product/service. Thus some companies are tapping external sources such as companies or people to lead in innovation. Example: P&G’s connect and develop program enables P&G to initiate and build on partnerships with innovators, and patent holders for meeting needs of products, technologies, and e-commerce. (http://www.pgconnectdevelop.com/) The fruits of their strategy are seen when we see the launch of innovative products such as Gillette Fusion ProGlide razors with enhanced technologies.  

 

- Fostering an internal culture of innovation: An increasing number of companies are moving towards fostering strong internal culture of innovation. This requires developing a team that is oriented towards innovation and living the values of a truly innovative company. To a lot extent this culture has to be promoted from the top. In this regards, the role of management is increasingly important. For example at 3M, one of top innovators, 15% rule is implemented to ensure that employees devote 15% of their time to chase new innovations out of their scope of daily work. Similarly management now has a number of tools at their disposal to extract employee innovation such as ‘Six Thinking Hats’ or ‘Morphological Matrix’ techniques.

 

- Emphasis on disruptive inventions: Perhaps one of the most prevalent of trends is found in disruptive inventions of today that are changing the entire dynamics of how industries are operating. According to Clayton M Christensen, a Harvard University Professor, “disruptive technologies create a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products and alliances”. Hence we see such innovations in the shape of Netflix completely disrupting the movie industry and taking business from cable television providers, and Blockbuster.

 

Hence as companies today embark on practices of innovation, it is important that companies are able to keep up with the current business innovation trends of the likes highlighted here to ultimately position themselves as innovation leaders 

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