🎯 Key Takeaways for quick navigation: 00:24 🔄 *Types of Innovation & Their Importance* - Discusses the previous sessions' topics: innovation concepts, myths, challenges (prediction disability, resistance to change), and the rider-elephant harmony analogy for successful innovation. - Explores classifications of innovation from various sources, including Jugaad (ad hoc arrangement) and structured/systematic innovation for sustainability. 02:39 🔀 *Classifications: Jugaad vs. Structured Innovation* - Jugaad, an ad hoc approach, lacks sustainability compared to structured innovation fostering intellectual property creation and commercialization. - Structured innovation emphasizes an enabling environment for innovation, driving sustainable, long-term advancements. 05:44 🔍 *Incremental vs. Breakthrough Innovation* - Incremental innovation involves continuous small improvements (kaizen), while breakthrough innovation leads to significant leaps in technology/product development. - Examples like mobile technology evolution illustrate incremental (2G to 5G) and breakthrough (landline to mobile) innovations. 07:32 🎯 *Complementary Nature of Innovations* - Both incremental and breakthrough innovations support each other, leading to advancements and improvements in products/services. - Incremental innovations refine breakthroughs, making them suitable and applicable to individual needs, ultimately benefiting society. 14:22 💡 *Frugal Innovation & Value Enhancement* - Frugal innovation focuses on value addition for customers in developing economies by maximizing value while considering resource constraints. - Understanding customer needs is vital; success lies in delivering precise value without compromising quality. 20:36 🛠️ *Industry-Classified Innovation Types* - Industry classifies innovation into product, process, customer experience, and business model innovations. - Product innovation introduces new products, while process innovation focuses on enhancing internal processes (e.g., TQM, Lean 6 Sigma). 24:30 🤝 *Enhancing Customer Experience through Innovation* - Customer experience innovation aims at improving customer interaction and satisfaction, like trackable post services and personalized interactions (e.g., Facebook). - Emphasizes continuous innovation for enhanced customer interaction and satisfaction. 27:34 💼 *Holistic Approach: Business Model Innovation* - Business model innovation encompasses product, process, and customer experience innovations, focusing on revenue streams. - Balancing core and value-added services determines a sustainable revenue model, crucial for organizational success. Made with HARPA AI
Great lecture for Entrepreneurship. Good supporting Examples.
Great lecture..thank you..
🎯 Key Takeaways for quick navigation:
00:24 🔄 *Types of Innovation & Their Importance*
- Discusses the previous sessions' topics: innovation concepts, myths, challenges (prediction disability, resistance to change), and the rider-elephant harmony analogy for successful innovation.
- Explores classifications of innovation from various sources, including Jugaad (ad hoc arrangement) and structured/systematic innovation for sustainability.
02:39 🔀 *Classifications: Jugaad vs. Structured Innovation*
- Jugaad, an ad hoc approach, lacks sustainability compared to structured innovation fostering intellectual property creation and commercialization.
- Structured innovation emphasizes an enabling environment for innovation, driving sustainable, long-term advancements.
05:44 🔍 *Incremental vs. Breakthrough Innovation*
- Incremental innovation involves continuous small improvements (kaizen), while breakthrough innovation leads to significant leaps in technology/product development.
- Examples like mobile technology evolution illustrate incremental (2G to 5G) and breakthrough (landline to mobile) innovations.
07:32 🎯 *Complementary Nature of Innovations*
- Both incremental and breakthrough innovations support each other, leading to advancements and improvements in products/services.
- Incremental innovations refine breakthroughs, making them suitable and applicable to individual needs, ultimately benefiting society.
14:22 💡 *Frugal Innovation & Value Enhancement*
- Frugal innovation focuses on value addition for customers in developing economies by maximizing value while considering resource constraints.
- Understanding customer needs is vital; success lies in delivering precise value without compromising quality.
20:36 🛠️ *Industry-Classified Innovation Types*
- Industry classifies innovation into product, process, customer experience, and business model innovations.
- Product innovation introduces new products, while process innovation focuses on enhancing internal processes (e.g., TQM, Lean 6 Sigma).
24:30 🤝 *Enhancing Customer Experience through Innovation*
- Customer experience innovation aims at improving customer interaction and satisfaction, like trackable post services and personalized interactions (e.g., Facebook).
- Emphasizes continuous innovation for enhanced customer interaction and satisfaction.
27:34 💼 *Holistic Approach: Business Model Innovation*
- Business model innovation encompasses product, process, and customer experience innovations, focusing on revenue streams.
- Balancing core and value-added services determines a sustainable revenue model, crucial for organizational success.
Made with HARPA AI
love from BIHAR
Thank you Sir
thank you sir..
Superb Lecture ... Sir can you please send the lecture PPT
4.12.22
Good afternoon to all
Thank you sir