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Module 4 - Innovation & Change (Video of The Art of Innovation - Guy…
Module 4 - Innovation & Change
Video of The Art of Innovation - Guy Kawasaki
Roll the dice
Deep fanning, reef
Intelligent MyKey(Ford)
Complete LS, Lexus
Empowering Air( Apple)
Elegant Eames Lounger(Herman Miller)
Jump to the next curve
Factory
Fridge
Harvest
Make mantra
For example the mission of Wendy’s is to deliver superior quality products and services for our customers and communities through leadership, innovation, and partnerships.
Make meaning
Video
Commerce
Information
Computers
Do not worry BE crappy
Do not worry BE crappy
Let 100 flowers blossom
Polarize people
Churn baby, churn
Niche thyself
Perfect your pitch
Follow rule
Do not let the bozos grind you down
Overview
Take a look at two critical aspects of entrepreneurship - innovation and change management.
Make Decisions by Experiment, Not PowerPoint
Video of Disruptive Innovation
Enjoy this quick explainer video about disruptive innovation...
watch this interview with Professor Clayton Christensen, the original author of disruptive innovation theory...
Disruptive innovation makes good products a lot better, but it has a very specific definition, and that is it transforms a product that historically was so expensive and complicated that only a few people with a lot of money and a lot of skill had access to it. A disruptive innovation makes it so much more affordable and accessible than a much larger population have access to it.
Learning Objectives
Understand different types of innovation and what conditions make innovation more likely,
Understand change management - why people / organizations resist change and how people / organization can overcome that resistance
Video of the Unexpected Benefits of Celebrating Failure
Radical solution
Breakthrough technology
Huge problem
Videos of change Management Explained
According to Kotter – the eight steps to transforming your organization are as follows (Kotter, 1996; Smith, 2005):
establish a sense of urgency about the need to achieve change – people will not change if they cannot see the need to do so;
create a guiding coalition – assemble a group with power energy and influence in the organization to lead the change;
develop a vision and strategy – create a vision of what the change is about, tell people why the change is needed and how it will be achieved;
communicate the change vision – tell people, in every possible way and at every opportunity, about the why, what and how of the changes;
empower broad-based action – involve people in the change effort, get people to think about the changes and how to achieve them rather than thinking about
why they do not like the changes and how to stop them;
generate short-term wins – seeing the changes happening and working and recognizing the work being done by people towards achieving the change is critical;
consolidate gains and produce more change – create momentum for change by building on successes in the change, invigorate people through the changes, develop people as change agents; and
anchor new approaches in the corporate culture – this is critical to long-term success and institutionalizing the changes. Failure to do so may mean that changes achieved through hard work and effort slip away with people’s tendency to revert to the old and comfortable ways of doing things.
Video of Change - Bases of Power
5 bases of power
Coercive
This means that someone is forced to do something against their will. The main objective of coercion is compliance.
Reward
This type of power involves the ability of individuals to delegate matters they do not wish to do to other people and to reward them for this. For managers in an organization it is a perceived possibility to value or reward their subordinates’ good results in a positive manner.
Legitimate
This form of power gives the ability to link certain feelings of obligation or notion of responsibility to the management.
Expert
This form of power is based on in-depth information, knowledge or expertise. These leaders are often highly intelligent and they trust in their power to fulfil several organizational roles and responsibilities.
Referent
This form of power is about management based on the ability to administer to someone a sense of personal acceptance or approval.
Extra videos
Mind-blowing predictions about where tech is going
the predicted future milestones we will encounter during our
25-year Abundance 360 journey.
A Podcast about Starting a Podcasting Company
Season 1 Episode 1 of the Startup Podcast - a podcast about starting a podcasting company
Mary Meeker's 2017 internet trends report | Code 2017
ONLINE ADVERTISING (+ COMMERCE) =INCREASINGLY MEASURABLE + ACTIONABLE
Ad Growth = Driven by Mobile
Ad Measurability = Can Be Triple-Edged…
Leading Platform Ad Offerings = Rapidly Improving with Back-End Data + Front-End Measurement Tools + Targeted Delivery of Ads Users Increasingly Want
Ads = Becoming Targeted Storefronts
Types of innovation
Product innovation
change in the appearance or performance of a product or the creation of a new one
Process innovation
change in the way a product is conceived, manufactured or disseminated
Examples of disruptive innovation
Disrupted
Travel agencies
Brick-and-Mortar bookstores
Film (Eastman Kodak)
Blockbuster Video
Disruptor
Expedia, Travelocity, others
Amazon.com
Digital photography
Netflix
How does a company encourage innovation?
Innovation is almost always a process of experimentation, trial and error and a fit between:
Customers and their problems/wants/needs
Your Product or Service
It can be systematized
Innovation is a process of trial and error – only way to innovate is to try, fail, learn – try again!
You have to be a daredevil
Your most valuable resources are time, money and people. You work to manage and minimize risk – not take unnecessary risk.
Encouraging innovation
Establish the right culture
Encourage brainstorming – the free flow of ideas
Create diverse, cross-functional teams
Dream big (Take ”moon shots” as Astro Teller describes it)
Have enthusiastic skepticism (healthy conflict; challenge every idea)
Manage risks down
Celebrate failure