A NECESSARY THING

1. A PRESENTATION ON
INNOVATION

2. OUTLINES
 What is Innovation?
 Why it’s important?
 The Types of Innovation
 The degrees of Innovation

3. ?? WHAT INNOVATION IS ALL
ABOUT ??
 “ Innovation is the
profitable
implementation of
ideas”
 Or we can say,….
 “Implementing new
ideas that create
value”

4.  Innovation requires interplay between
a product offering (Technology) and a
market (people)
 i.e. “ Hard Science + Social Science”

5. ?? WHY IS INNOVATION
IMPORTANT??
I) Innovation
reduces waste
and
environmental
damage

6. II) Innovation creates
growth, increases
productivity and
economic wealth

7. III) It provides goods
and services at
cheaper rate that
leads to higher
standard of living

8. IV) Employees get
more interest in
their work due to
innovation

9. V) For Survival also
Innovation is
important

10. ?? WHAT ARE THE TYPES OF
INNOVATION??
 Product
 Process
 Service
 Business Model
 Value
 Market

11. PRODUCT INNOVATION
 Product innovation is the creation
and subsequent introduction of a good
or service that is either new, or an
improved version of previous goods or
services

12. PROCESS INNOVATION
 Process innovation means the
implementation of a new or
significantly improved production or
delivery method (including significant
changes in techniques, equipment
and/or software)

13. SERVICE INNOVATION
 The concept of Service
Innovation was first discussed in
Miles (1993) and has been developed
in the past 2 decades. It is used to
refer to many things. These include
but not limited to: Innovation in
services, in service products – new or
improved service products
(commodities or public services)

14. BUSINESS MODEL
INNOVATION
 Business model innovation is about
fundamentally rethinking your
business around a customer need,
then realigning your resources,
processes and profit formula with this
new value proposition. It's not easy
and can take decision makers out of
their comfort zones

15. VALUE INNOVATION
 It is about creating and growing value
of the firm in market

16. MARKET INNOVATION
 A marketing innovation is the
implementation of a new marketing
method involving significant changes
in product design or packaging,
product placement, product promotion
or pricing

17. CHALLENGES WHILE
INNOVATION
 Why to change?
 What to change?
 Understanding the Innovation
 Building an Innovative culture
 Continuous learning

18. IN SHORT……

19. THANK YOU 