What's so good about Innovation

Anyway?

Anthony Denatale

Senior Specialist – Innovation and Creativity

Innovation Strategy

HH Sheikh Mohammed Vision 2021

"The UAE is already the most innovative Arab nation. Our target is to be among

the most innovative nations in the world.

The competitiveness race demands a constant flow of new ideas, as well as

innovative leadership using different methods and tools to direct the change,"

HH Sheikh Mohammed bin Rashid Al Maktoum

Before we start!

Innovation can be defined as the development or adoption of new concepts or

ideas, and/or the new or adopted ideas themselves as well as the successful

exploitation of new ideas.

Creativity is having the ideas, and innovation is its application. Creativity only

emerges when the innovator takes the idea and does something with it.

Successful exploitation of new ideas can lead to any form of increased

organizational or social benefit.

What is Innovation?

Joseph Schumpeter defined economic innovation in "Theorie der Wirtschaftlichen

Entwicklung" (1912):

•The introduction of a new goods — that is one with which consumers are not yet

familiar — or of a new quality of goods.

•The introduction of an improved or better method of production, which need by no

means be founded upon a discovery scientifically new, and can also exist in a

better way of handling a commodity commercially.

What is Innovation

•The opening of a new market that is a market into which the particular branch of

manufacture of the country in question has not previously entered, whether or not

this market has existed before.

•The conquest of a new source of supply of raw materials or half-manufactured

goods, again irrespective of whether this source already exists or whether it has

first to be created.

•The carrying out of the better organization of any industry, like the creation of a

monopoly position or the breaking up of a monopoly position.

Does employee innovation lead to happiness?

• Do staff feel happier if they can suggestion innovations?

• Why do you think employees want to innovate?

Maslow nailed it in 1943

Yes, but what about innovation in Dubai

• Worlds tallest building Burj Khalifa • First use of Buttressed Core • Y-Shaped design • Worlds fastest elevators

• Dubai Metro • Driverless • Totally automatic • One of the longest automated metros in the world

• Emirates Airlines • Operates biggest passenger aircraft • On-board Lounge • First airline to provide on-board shower

What happens if organizations don’t Innovate

The case of Kodak – A warning in history

•In 1973 the world biggest supplier of camera

film

•1975 Steven Sasson an engineer with Kodak

invents the digital camera

•Kodak management team decide that the

public would never want to view digital picutres.

•Although they patented design and made

billions from the designs they never market the

product themselves.

•Kodak filed for bankruptcy in 2012

Modern Innovation is not just invention

• Worlds biggest retailer owns no stores or inventory – Alibaba

• Worlds biggest taxi company owns no vehicles – Uber

• Worlds biggest room seller owns no property – Airbnb

• Facebook the worlds most popular media owner creates no content

• Amazon the worlds biggest bookseller owns no bookshops

The world is changing and there are new start-ups constantly looking to disrupt the

current market.

Customers also provide Innovation

• Dell computers Launched Dell Ideas Storm in 2007

My Starbuck Ideas

So, why DO we need Innovation?

•Can offer you the competitive edge

•If you don’t innovate then your competitors will

•The world is changing constantly

•It will engage your customers and the community

•It will lead to a happier organisation

But Innovation is not just for business!

But Innovation is not just for business!

But Innovation is not just for business!

But Innovation is not just for business!