Post on 17-Oct-2014
description
Managing Innovation MBA 6103Unit 7Creating Value –Capturing the Benefits of Innovation
Capturing the Benefits
Market Positioning• Being an Innovation Leader
• Being an Innovation Follower
• Practical Examples:• Apple vs Samsung• Amazon and Kindle products• Case 11.2 Skype
Expanding Core Competencies
• Knowledge Management (KM)• Generating/acquiring new knowledge• Identifying and codifying knowledge• Storing and retrieving knowledge• Sharing and distributing knowledge• Exploiting knowledge across processes, products, services
• Right people - access to the right information – at the right time!!
• Growth in Data Analytics/Data Scientists
What is KM?• Data – Information – Knowledge
• Explicit vs. Implicit• Analytics vs. Apprenticeship
• Knowledge is only practically applicable via the members of the organization
• Codified vs. Diffused
• Two Approaches:• IT investment vs. People/Process
Using Knowledge as a Tool for Innovation and Change
• Tool for Innovation• Refer to the Innovation Strategy Map
• Discovery (Searching)• Realization (Select/Implement)• Nurture (Capture)
• Tool for Change• New ventures/initiatives will result in change• Innovative organizations successfully navigate change
• Resistance to change originates from:• Personal factors• Organizational factors• Change-specific Factors
• Must be prepared to systematically address these issues
Common Challenges• 70% of all change initiatives fail
• Key players often don’t effectively make the business case for change
• 29% of change initiatives without any formal structures
• People resist being controlled more than they resist change
• Announcing change is not managing change
Change Issues