Lecture 2: innovation again Flashcards
Techniques for innovation
-brainstorming
-storyboarding
-excursion
-product improvement
-osborn
-triz
-stage gate
Types of innovation
A: tweak existing product
B: based on analogy
C; wild ideas
Innovation pipeline
-idea
-concept
-experiment
-pilot
-launch
Brainstorming
-together
-no judge
-quantity breeds quality
-build
-encourage
-stay on topic
-creative
Theories of innovation
-Triz
-Disruptive
-Blue Ocean Strategy
-Lean Start Up
-Third Way
TRIZ (1946)
-theory of inventive problem solving
-based on ABSTRACTION of problems into generic FUNCTIONS and PROPERTIES
-TECH driven
-follows SYSTEMATIC predicatble path
-can be ACCELERATED by TRANSFERRING learnings for other areas
Primary principles of TRIZ
-patterns of technical evolution are repeated = predictable
-problems and solutions can be repeated and transferred
-universal properties, functions, fields
-innovation is solving CONTRADICTIONS
-use RESOURCES for problem solving
Triz universal properties, functions, and fields
-determine generic functions and properties from a specific problem
-determine “DNA” of the problem
Triz example - weight management
-digestion
-gastric distension
-energy expenditure
-hormonal balance
Triz solving contradictions example
-efficacy vs side effects
-find rx that works but not toxic
-possible solution: localized action
Blue Ocean Strategy
-identify UNMET NEEDS of market and create solutions for them
-based on creation of NEW NEEDS and expansion of market away from competition
-CONSUMER NEED DRIVEN
-EXISTING TECH used to create new market/needs
Blue Ocean principles
-find UNSERVED market without competition
-MAP exisiting offerings vs needs of consumer
-RAISE value while REMOVING add ons with no calue
-Address unmet needs to make competition IRRELEVANT
Blue ocean strategy: Meet unmet needs example
-covid vax
-did not exist before pfifer/moderna vax
-rush to get vaccine opened up
-also protein bars
The Lean Start Up
-Japanese manufacturing principles
-ITERATIVELY build products to meet needs, reduce risk, avoid need for funding
-TECH and NEEDS DRIVEN
-high tech and internet
Lean Start Up principles
-PRACTICE
-quick PROTOTYPE testing
-MINIMUM VIABLE PRODUCT
-CUSTOMER FEEDBACK
The Third Way
-control development of complementary innovations around a CENTRAL product
-NEEDS driven
-combine EXISTING elements
-growth without risk and high cost
Third Way Principles
-little things make big difference
-what need must be satisfied
-diverse in pricing, sourcing, products, etc
-innovations are a SYSTEM/FAMILY to satisfy need
-Core product remains INTACT
-complementary innovations done AROUND core product
Third way example
-Human growth hormone introduced by NOVO (insulin)
-make insulin pens more convenient to use
Stage Gate for guiding developments
-guide from idea to market entry
-allows prioritization
-controls right resources are assigned
-make sure project financially viable at each step
Stage gate
-forum thru which all initiatives under the scope of stage gate are assessed
-where the governing body for project execution is determines
Why stage gate?
-visibility
-portfolio management
-project management
-updated project status info
Product development process require:
-cross functional collaboration
-portfolio management central - local organizations
Visibility stage gate
-provide visibility to leadership team on all initiative in the organization
Portfolio management stage gate
-platform for evaluation of new initiative with CROSS-FUNCTIONAL allignment thru diffferent stages of project execution
