INNOVATION
OVERVIEW
Innovation is by far and large that is a concept that drives business and technology globally. There are different forms and shapes that we could defined innovation. Innovation is a very human process. Innovation can be defined as the application of new ideas to the products, processes, or other aspects of the activities of a firm that lead to increased value.
The Need For Innovations
This century has been full of innovation. New technologies, new products, new services, whole new industries have emerged. Yet the call for innovation in business has never been more intense.
Innovation - The Necessity
Innovations drive business growth
Provides development of human well-being
Provides Competitive advantage
Initiates higher business revenues
Allows to take greater advantage of opportunity
If there is one super power that can create new successful ventures and also decide the prolonged existence of the current successful organizations for the next 25 years and longer it could only be Innovations. The role of research and development (R&D) and innovation is to get business into a competitive position and to sustain it there.
Innovation Drives Business
Continuous Improvement
Brand Reinforcement
Making the Most of What is Already Present
Responding to Competition and Trends
Having a Distinctive Marketing Point


The Drivers For Innovations
THE THRUST
We believe that there needs to be a thrust for innovation in an organization. A force beyond commitment and deadlines must be present to drive innovations.
THE ASSET
Resource, Time Spent and Results are considered to be the Assets for Innovations .The assets must be well defined and follow a process to ensure that the desired innovations are produced and aid to the business results.
THE TRACK
Beyond Thrust and Asset there needs to be a track for innovation management that will be monitored and mentored towards the results.
BENEFITS
Decreasing product life cycles, driven by increased competition, customer expectation, ecological shifts.
The rapid distribution of information and education
Condensed cost of entry into markets and industries
Growing global trade, opening the door to more challengers from every region
Types Of Innovation
Whenever someone thinks of Innovations, the first thing that comes to mind is product innovation. However, there are actually different types of innovation.
Ownvent emphasises on the above innovations as a part of its consulting engagements to bring out the desired results.
The Hurdles For Innovations
The root cause for the failure of innovation is lack of ideas and the process or system that fails to initiate and manage those ideas. Organizations have a huge challenge to train their work force to think differently to come up with new ideas and innovative solutions aligned to the business. The hurdles to innovation begins with the organizational vision towards the innovations that ultimately leads to the individual blockers for innovations.
The Common Hurdles To Innovation
The Way of Work in an organization can act as a great barrier for Innovation
The Lack of a Strategy for innovation initiation and awareness
Innovations can fail when a company does not cater to the customer wants and needs
Innovations can be crazy and out of the box but they should always be feasible and technicallyachievable
Innovation is not meant only for the top management but it begins with the topmanagement and then has to worked bottom-up
Lack of a result oriented approach and use of right set of tools to manage and drive innovations
APPROACH
TO INNOVATION
Most established companies too book their failure into launching a new service or product successfully. The reason for the failures have rooted to a simple reason that points lack of innovation. The customer expectations and demands change quicker than the development cycle of the companies. There is no single approach that can be termed ideal for innovation generation and management. Innovating the innovation process in organizations can be the only key to build successful and winning innovations
Innovation Perception
Innovation and creativity are usually thought of in two ways:
SINGULAR ATTRIBUTE
A few individuals are always activated and have a zeal to innovate and generate new ideas compared to the entire mass.
ORGANIZATIONAL ATTRIBUTE
An organizational attribute of an organizational culture where the entire team are designed to be innovative and produce products to re-invent the market place.
We have conducted several case studies on the individual and the organizational aspect of innovations to find the correlation among them. Both the aspects are vital for innovations to succeed.
Our Approach To Innovation
An Assessment on the Innovation system, Innovation readiness ,Tools and Methods employed
Providing insight into new tools and Methods that suit the organization post the assessment
Training and team definition to build a strong innovation capability
Change management concentrated on creating an understanding of innovations
Innovation Workshops to introduce new skills and outlooks
Innowant Platform- A customized idea generation cosmos
We provide workshops and short term projects typically focused on aspect of the innovation process, scenario planning, idea generation, emerging market expert talks and change management.
The Innovation Management Paces
Setting up a formal platform for Innovation Engineering and Management
Encouraging ideas from your employees
Assemble and unleash a diverse workforce
Designing a career path for innovations
Formulating incentives for innovation
Preparing for the pitfalls of Innovation
Our Team of Experts will guide and mentor throughoutthe innovation journey to bring out the best results
WORKSHOP
TO INNOVATION
Idea Generation workshops play an important role in Innovation. The workshops translate to generate ideas on one hand and produce a profound impact on the perspective to innovations and ways of works within an organization. The workshops are strategically linked to the business of an organization.
In addition to assisting learning and the internal flow of information on matters linking to innovation, an effective workshop can assist in producing enthusiasm and liveliness in a workplace, corporate line or team environment.
THE WORKSHOP PREREQUISITE
Agree on goals and objectives upfront with stakeholders
Drive the selection of attendees based upon key focus areas
Present innovation challenges and opportunities to set the context
Prepare a well-defined agenda and participant guide
Allow participants to build upon each other's ideas
Hear the elevator pitches for each idea
Use a well-defined set of voting criteria
Define how you will measure success
Make the facilitation role strategic
Maintain consistency and quality through frequent training
STRATERGY VISUALIZATION
Strategy visualizations Workshop create frameworks for continued business growth. Using the codes of visual collaboration, this workshop makes the crucial elements of a strategic plan visible. It encompasses trends and pressures, customers and unmet needs, competitors and investments.
INNOVATION VISUALIZATION
Innovation visualizations workshop enable teams to formulate fresh perspectives on their innovation process, to clearly and collaboratively envision who their future customer will be, what needs can be served, and the products, services or fresh approaches that will meet their customers unmet needs.
Visual innovation brings together a wide range of practices including customer tracking, direct observation and many other techniques to help teams reframe their business to generate insight and competitive differentiation.
AGILE WORKSHOP
Effective teams know that creating momentum is a critical success factor in moving toward goals. They also know that an Agile Project Room, a physical place where all critical aspects of a project are made visible, tangible and persistent, is a powerful way to maintain and build momentum.
This one-day workshop helps teams transport their business documents - from vision, strategy, goals and workflow process - into a set of clear, simple, and persistent diagrams that establishes a unified framework for coordinating work.
Innovation Tools
Innovation in companies is often seen as a "dark art" that only certain people can understand and apply. Contrary to this belief, experience shows that in fact everyone in an organization can and should contribute to innovation.
Companies need a holistic approach that involves the entire organization and the right foundations and framework. To gain the best results, they also need to train key business and transformation leaders on what innovation is in general, on the tools and how to apply them.
COMMON INNOVATION TOOLS EMPLOYED
Scamper
The Randomness
The Rational Innovator
Reverse Braining
Negative Reasoning
Why2
Ownvent provides a set of simple methods and tools that are delivered as a part of the workshops to instil and facilitate continuous collaborative innovations