ACADEMIC STAFF COLLEGE Vellore Institute of Technology

1
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
INNOVATION AND BUSINESS

• by
• G C VIJAYAKUMAR
• Training Manager
• Academic Staff College

November 23, 2006
2
CONTENTS
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
01. What is innovation 02. Some observations on
innovation 03. Different types of innovation 04.
Different dimensions of innovation 05. Different
levels of innovation 06. Innovation drivers 07.
Results of innovation 08. Innovation strategies
09. Creating an innovation vision 10. Creating
an innovation culture
11. Creating an innovation processes 12. Creating
an innovation product 13. Creating an innovation
business 14. Framework for managing innovation
15. Measuring innovation results
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
3
01. WHAT IS INNOVATION?
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Innovation is the process of converting new ideas
or inventions into products and services that
improve the efficiency and quality of life. It is
the viable, practical, and meaningfully useful
application of new thoughts and concepts. The
process of innovation affects the entire
business. It is the process of taking a creative
idea and making it a useful product, service, or
method of operation.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
4
02. SOME OBSERVATIONS ON INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
1. Its part of world class performance. 2. It
results in higher growth profitability. 3. It
is not just products and technology. 4. It needs
to be driven by company strategy. 5. There is a
continuum of innovation practices. 6. It requires
process discipline. 7. It must be supported by
culture and leadership. 8. There is no right
way although there are some common system
design elements.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
5
02. SOME OBSERVATIONS ON INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Just as energy is the basis of life itself, and
ideas are the source of innovation, so is
innovation the vital spark of all human
change, improvement and progress.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
6
03. DIFFERENT TYPES OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
The term innovation is often mistakenly
associated primarily with new products or
technology. The reality is, however, that
innovation relates to a broad range of dimensions
of a business, including Basic technologies
(production, process) Products Services
Customer experience Business processes
Business model or design Industry structure
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
7
04. DIFFERENT DIMENSIONS OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Category Opportunities for Innovation
Products and Services Design Features Technology Quality Price
Processes Equipment Technology
Materials Composition Properties
Business Practices Management Practices Business Design
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
8
04. DIFFERENT DIMENSIONS OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
9
04. DIFFERENT DIMENSIONS OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
10
05. DIFFERENT LEVELS OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Strategic Business Re-design
New Markets Customers

• More complexity
• More strategic risk
• Higher levels of management
• attention
• Longer cycle times

New Products Processes
Process Re-design
Continuous Improvement
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
11
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
12
06. INNOVATION DRIVERS
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Connectivity Higher levels of connectivity in
the economy, largely due to information
technology advances, create more rapid diffusion
of knowledge and ideas and more discriminating
customers, who change their requirements more
rapidly.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
13
06. INNOVATION DRIVERS (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Knowledge Economy Higher levels of education
globally, and rapid advances in knowledge at all
levels of the society and the economy result in
knowledge content accounting for an
increasingly larger percentage of GDP.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
14
06. INNOVATION DRIVERS (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Flexibility New business designs and
communications systems create an ability to
rapidly form novel combinations of all the
elements of the value chain people capital
hard assets and knowledge.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
15
06. INNOVATION DRIVERS (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Globalization The spreading of market economies
both creates new opportunities to sell innovation
and creates more competition, requiring higher
levels of innovation to succeed.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
16
07. RESULTS OF INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
More profitable The more innovative companies
averaged twice the return on sales of their less
innovative competitors. Value-focused Innovators
focus on value-based competition, not pure price
plays. Growth oriented They establish very
aggressive growth targets, and grew at rates four
times higher than the non-innovators.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
17
07. RESULTS OF INNOVATION (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Focus on new products They have a bias for new
products and big innovations. Innovators spend
far more on new products (vs. product
improvements) compared to their competitors (40
vs. less than 25). Disciplined business
processes Innovators have business processes to
support the innovation process. Training and
reward systems Innovators invest in appropriate
training and reward systems.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
18
08. INNOVATION STRATEGIES
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST

1. Define the role of innovation in your
   organization
2. Create the innovation culture
3. Create the innovation processes
4. Create the innovation structure and support
   systems
5. Measure the innovation results

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
19
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST

• Define the role of innovation in your
  organization
• - Clear theory of business.
• - Clear differentiation and positioning.
• - Clear about which customers will drive
  growth.
• - Ideas about opportunities for innovation.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
20
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
2. Create the innovation culture - Reward
risk-taking and creativity. - Celebrate
innovation. - Foster open communication.
- Look outside the organization. - Clear
management leadership.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
21
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
3. Create the innovation process -
Opportunity identification. - Opportunity
selection. - Development and testing. -
Production and launch. - Portfolio
management.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
22
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
4. Create the innovation structures and support
systems - Product managers. -
Innovative teams. - Outside partnerships.
- Skill development. - Reward
systems. - IP management systems
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
23
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
5. Measure the innovation results - Define
the measures. - Develop measurement
plans. - Display the measures. -
Review them as part of the management review.
- Link to performance evaluation and rewards.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
24
08. INNOVATION STRATEGIES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
The Innovation Paradox (After research from 650
leading manufacturers worldwide.) Manufacturers
cite launching new products and services as the
No. 1 driver of growth. They expect new product
revenue to increase to 35 of sales by 2006, from
21 in 1998. By 2010, products representing more
than 70 percent of their sales today will be
obsolete due to changing customer demands and
competitor offerings. Most manufacturers have not
developed reliable systems for bringing to
products and services to market. 50 to 70 of
all new product introductions fail.
Source Mastering
the Innovation Paradox, Deloitte, 2004
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
25
09. CREATING AN INNOVATION VISION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
STRATEGIC INNOVATION
Shifting a corporations business strategy in
order to create new value for both the
customer and the corporation. Applying
innovative thinking to the entire business model
of a company, not just to its products or
inventions. Finding a way to change the rules
of the game so that your companys products,
competencies and assets provide you with a
competitive advantage in the marketplace.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
26
09. CREATING AN INNOVATION VISION (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
STRATEGIC INNOVATION
Managing the future it is not a simple
extension of past business strategies. The
strategy innovation process should precede the
strategic planning process. (Adapted from
Johnson and Bate, The Power of Strategy
Innovation, 2003)
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
27
09. CREATING AN INNOVATION VISION (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
1. Mission What business are we in? 2. Vision
Where do we want to be in 5-10 years? 3. Values
What principles do we want to guide our
behavior? 4. Customers Which customers do we
want to serve? Which ones will drive value
growth? How are their priorities changing? 5.
Product and Service Scope What products or
services do we want to offer? What core
competencies do we need?
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
28
09. CREATING AN INNOVATION VISION (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
6. Differentiation What is our basis for market
differentiation? Who are our key competitors?
Are we really different? 7. Profits What is our
profit model? What areas of our business are
our customers willing to let us make money? 8.
Processes What are our core processes? What
needs transforming? 9. Scoreboards What
indicators will we use to measure success? 10.
Goals, Objectives and Action Plans How will we
incrementally move towards our vision?
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
29
09. CREATING AN INNOVATION VISION (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Your innovation strategy
Role of innovation
Arenas to play in
Entry strategies
The overall role of innovation in your market
positioning. How your innovation strategy will
change your market positioning over time? Amount
of resources dedicated to innovation.
The customer segments targeted. Technological
road map of technology competence
evolving. Product map of product offerings
evolving. Define hunting grounds for innovation
opportunities.
Different ways to plan to acquire or develop new
technology, products, or customers
segments. These can include internal
development acquisitions JVs licensing
agreements venture investments, etc.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
30
10. CREATING AN INNOVATION CULTURE
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST

• Culture Factors That Differentiate Innovative
  Companies
• LEADERSHIP EXAMPLE
• Leaders demonstrating by their actions that
  innovation is important.
• INNOVATION PRIORITY
• Engaging the full organization in an
  understanding about why innovation in critical to
  company success.
• INNOVATION ENCOURAGEMENT
• Encouraging employees to take risks and try new
  things and providing financial Incentives for
  individual innovation.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
31
10. CREATING AN INNOVATION CULTURE (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST

• Culture Factors That Differentiate Innovative
  Companies
• 4. CROSS-FUNCTIONAL INTEGRATION
• Creating robust relationships between
  technical staff and
• marketing/sales staff.
• 5. CUSTOMER INTIMACY
• Encouraging and incentivizing a broad range
  of employees
• to interact closely with customers.
• STORY TELLING. Telling powerful stories that
  reinforce the
• principles and practices of innovation.
• (Source Zien and Buckler, Crafting a Culture of
  Innovation, Journal of Product Innovation
• Management, 1997)

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
32
11. CREATING THE INNOVATION PROCESSES
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Four Stages of the innovation process

• Opportunity Identification
• Opportunity Selection
• Development and Testing
• Production and Launch

Managing the RD Portfolio
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
33
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Deliverables form each stage

• Opportunity Identification
• A defined innovation concept,
• with a written and visual description of the
  idea
• including its primary features and customer
  benefits,
• as well as a broad understanding
• of the technology
• required to make it a reality.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
34
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Deliverables form each stage

• B. Opportunity Selection
• A solid business case for the project, including
• strategic,
• customer,
• market,
• technical, and
• financial analyses.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
35
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Deliverables form each stage

• C. Development and Testing
• A working prototype
• of the product or service,
• with performance characteristics
• verified by users.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
36
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Innovation Opportunities

• Situations where there is a business or
  technology gap
• between customer needs/wants and what is
  available in the
• market, that could potentially be captured by the
  company.

Innovation Ideas

• A high-level view of the solution envisioned for
  the problem
• identified in the opportunity.

Innovation Concepts

• A written and visual description of the idea,
  including its
• primary features and customer benefits, as well
  as a broad
• understanding of the technology required to make
  it a reality.

I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
37
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Innovation Ideas for Opportunity Identification
come from Voice of the customer Voice of the
Value Chain Voice of the Organization Voice of
the Industry Voice of the Experts Secondary
Research
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
38
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Opportunity Selection come from Preliminary
Investigation A quick assessment of the
strategy, market, competitive, technical and
financial feasibility of the project. Most of the
information used is from existing sources. No new
market studies, research or engineering analyses
are conducted. Detailed Investigation A
complete business plan is developed for the
project. Depending on the size of the project,
this will involve new market research detailed
financial risk and return on investment analysis
intellectual property protection strategies some
engineering feasibility tests etc.
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
39
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Areas of analyses for Opportunity
Selection Strategic Analysis Customer
Analysis Product Information Market
Analysis Competitive Analysis Technical
Analysis Financial Analysis Operations Issues
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
40
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Thrust areas in Development and
Testing DEVELOPMENT Development of product
specifications and design of product Design for
manufacturing assembly environment Building
of prototypes Detailed engineering
specifications, drawings and math data Material
specifications Equipment, tooling and facility
requirements Develop Bill of Material and
supply plans Packaging specifications
Process flow chart and plant layout Measurement
systems plan Develop market launch plan
Develop sales channels and tools Develop
pricing, advertising and promotion plan
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
41
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Thrust areas in Development and
Testing TESTING Freeze product design
finalize drawings and math data Complete BOM
Beta test in lab Beta test with customers
Production trial run Process capability study
Packaging evaluation Quality systems
finalization Manufacturing ramp-up plan
developed Finalize financial analysis and
pricing Finalize market launch plans sales
tools advertising channel strategy
Finalize regulatory and legal issues, including
intellectual property protection
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
42
11. CREATING THE INNOVATION PROCESSES (contd)
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Elements for successful Production and Launch
Disciplined relationship between product
specifications and shop floor controls
Supply chain management plan Accurate
forecasting and scheduling Well developed
marketing sales plan Communication with sales
channels Rapid response on warranty/initial
quality issues Product profitability analysis
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
43
12. CREATING INNOVATION PRODUCT
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
KEY PRODUCT DEVELOPMENT DECISIONS How much do
I commonize product design across regions? How
much do I centralize or decentralize product
development strategy and decision-making?
What does my manufacturing footprint look like?
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
44
13. CREATING INNOVATION BUSINESS
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Skill Development For Innovation Reward
Systems Intellectual Property Management Technolog
y Infrastructure Tools Collaborative
infrastructure culture Availability of
appropriate talent in appropriate organizations
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
45
14. FRAMEWORK FOR MANAGING INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
Understand your business and competitive
position Baseline your business - its
products/services, processes and model Assess
competitive strategies and disruptive
opportunities Identify where the impact areas
are to your business Invite team attention,
empower creative thinking Institute a process
for channeling innovation ideas Know when to
pounce on the ideas Commit to follow through
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
46
15. MEASURING INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
OPPORTUNITY IDENTIFICATION SELECTION Anticipate
future customer needs Time spent with key
customers learning about their future
needs and opportunities Number of new
projects launched based on customer
input Discover and develop new products and
services Number of new projects/concepts
for development Number of new value added
services identified
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
47
15. MEASURING INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
MANAGING THE RD PORTFOLIO Actively manage the
product/service portfolio for superior innovation
customer positioning Mix of development
projects (advanced, platform, derivative,
and outsourced) Technology ranking based
on independent peer review Net present
value of products in the pipeline Extend current
product/service platforms into new and existing
markets Number of projects from current
platforms targeted at new markets
Number of life-cycle extension projects Extend
the product portfolio through collaboration
Number of licensed products Number of
joint projects in new or emerging markets
Number of technology or product partners
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
48
15. MEASURING INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
NEW PRODUCT AND SERVICE DEVELOPMENT Reduce
development cycle time Number of projects
delivered on time Average time spent in
each stage of the development process
Total time, concept to market Manage development
costs Actual vs. budgeted spending at each
stage of development Manage the project
portfolio for maximum productivity Number of
patents and patent citations Percent of
projects advancing from stage to stage
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
49
15. MEASURING INNOVATION
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
NEW PRODUCT AND SERVICE LAUNCH Rapid launch of
new products Time from pilot production to
full volume capacity Number of redesign
cycles number of engineering changes
Number of new products/services launched or
commercialized Effective production of new
products Actual vs. targeted costs of new
products/services Number of failures or
returns Initial warranty and field service
costs Customer satisfaction or complaints
about new products or services Effective
marketing, distribution and sales of new
products Six month revenues, actual vs.
projected Stockouts or back orders for new
products
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
50
ALL ELEMENTS OF THE INNOVATIVE SYSTEM
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
51
KEYS FOR SYSTEMATIC INNOVATIVE CAPABILITY
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
I N N O V A T I O N A N D B U S I N E S
S - G C Vijayakumar, Training Manager, ASC, VIT
November 23, 2006
52
ACADEMIC STAFF COLLEGE Vellore Institute of
Technology
DST
WISH YOU GREAT SUCCESS AS AN
ENTREPRENEUR!
THANK YOU
C R E A T I V I T Y - P R O B L E M S O
L V I N G - G C Vijayakumar, Training Manager,
ASC, VIT
November 21, 2006