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Introduction
3M Company Initially produces sandpaper products In 1920s, 3M researcher Dick Drews innovation on masking tape which has generated revenues for 3M over seven decades Currently 3M produces more than 700 specialize products for medical, electrical, home and industrial applications. By 2001 3M had grown into global enterprise with over $16 billion in annual revenues and leading positions in a diversified set of markets. Innovation had fuelled that growth over decades, due to William McKnight goal: Create a climate and structure within which innovation is encouraged, facilitated, and rewarded.
Introduction
Destroy
Introduction
INNOVATION PROCESS
Opportunity Recognition
Idea Generation
Development
Commercialization
Idea Evaluation
Idea generation: develops an insight about something new, sometimes takes the form of the technical insight with no apparent commercial application
Opportunity recognition: creating value for our customers and our shareholder subject to the invention of the idea/insight Idea evaluation: evaluate new idea by decision makers to answers about how will the idea works, technical know how, value for customers, fitness with company strategy and cost perspective Development: develop the idea works well
Commercialization: the idea benefits for the customers and shareholder, make the idea saleable
Types of Innovation
Definitions Berasal dari bahasa latin Nova ; Baru Prof Ed Robert (MIT) Innovation = Invention + exploitation Innovation: Embodiment, combination or sytesis of knowledge in original, relevant, valued new products, process or services Innovation: something original, new, and important -in whatever field- that breaks in to (or obtains a foothold in) a market or society. Source: Journal of High Technology Management Research Vol 20 No 1 pp40-51 2009 Innovation differs from invention in that innovation refers to the use of better and ,as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or the method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better
Types of Innovation
Types of Innovation
INNOVATION
Radical
Something new to the world & a departure from existing technology/method
Types of Innovation
Characteristics of Radical Innovation An entirely new set of performance features Improvement in known performance features of 5 times or greater A 30% or greater reduction in cost
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