innovation in corporate world, case study from jobstreet.com
DESCRIPTION
A presentation to college students on business innovation models and what JobStreet.com believes in, what can make innovation sustainable in a company.TRANSCRIPT
Innovation in new Global Employment Market
National Engineering Student’s Conference 2009,International Islamic University of Malaysia.
Slide 2 All Copyrights reserved
Slide 3 All Copyrights reserved
Slide 4 All Copyrights reserved
Higher Productivity Means Fewer Engineers
Pink has 3 questions for you about earning a living:1. Can someone overseas do your job cheaper?2. Can a computer do your job faster?3. Is what you offer in demand, in an age of
abundance? If you answered 'yes' to 1 or 2, or 'no' to 3, you
could be in deep trouble.
Ref: IEEE Today’s Engineer publication, http://www.todaysengineer.org/2005/Oct/commodities.asp
Slide 5 All Copyrights reserved
Contents About Innovation The Story of JobStreet Innovating in Start up vs Corporate Seeing and Planning What’s Next Techniques Motivating Innovation in Corporate World
Slide 6 All Copyrights reserved
Definitions What’s invention, innovation, entrepreneurship? Invention – Creating something new Innovation – Creating changes that create value for the enterprise Entrepreneurship – Seeing the opportunity to create extra value and
seizing it by developing resources (people, knowledge), systems and process to build a business to realize the value.
Startups will normally look at breakthrough or new market innovations with higher returns and risks.
Challenge is for corporate to be able to see and recognize these opportunities related to their core strength and act on it
Slide 7 All Copyrights reserved
JobStreet OverviewWhat We Do
JobStreet.com is an Online e-Recruitment Company One of the most established internet business models
Where We OperateMalaysia (1997) Singapore (1999) Philippines (1999)
India (2000) Indonesia (2006) Bangladesh (2006)
Japan (2007) Hong Kong (2007) Thailand (2008)
Why Are We Needed? Opportunities…. Job market is not transparent Recruitment process was slow People are more mobile and technologically savvy General trend moving to shorter employment stay Contract and home employment is getting popular
Slide 8 All Copyrights reserved
History
1995 Started Malaysia Online by Mark Chang1997 Spin off JobStreet.com1999 First round VC funding – Ramp up 2002 Second Round VC Funding2004 IPO (Mesdaq - 3rd Board)2007 Transferred to Main Board, Bursa Malaysia
“Through perseverance many people win success out of what
seemed destined to be certain failure.” ~ Benjamin Franklin
Slide 9 All Copyrights reserved
Online Recruitment PlatformEmployersMore than 50,000 Jobseekers
More than 6 million
SiVA LiNa
1. Register career preferences (free)
3. Be matched and notified
4. Apply online
7. Sit online test
2. Post job advertisement (pay flat fee)
5. Receive applications
6. Process apps, request tests, interviews, SMS
8. Receive test results
JobStreet Intranet CRM and OSS Systems
JobStreet.com
Employment
Exchange
(Internet)
JobStreet.com
Employment
Exchange
(Internet)
Slide 10 All Copyrights reserved
Sustaining vs Disruptive Innovation
©Clayton Christensen – “Seeing What’s Next”
Company improvement trajectory
Customer demandtrajectory
Hypermarket
TelephonePhotocopy Machines
Slide 11 All Copyrights reserved
How to See What’s Next?
• Build team and process to learn to see such changes and act on it
Undershot CustomersSigns that companies are introducing up-market sustaining
innovations.
NonconsumersSigns that companies are introducing new-
market disruptive innovations.
Overshot CustomersSigns that companies
are introducing low-end disruptions,
displacements, or moving close to
consumers.
Overshot CustomersSigns that nonmarket
players are taking action to increase or decrease barriers to innovation
1. Signals of ChangeAre there any signs that
someone is capitalizing on opportunities or change?
2. Competitive Battles
3. Strategic Choices
©Clayton Christensen – “Seeing What’s Next”
Slide 12 All Copyrights reserved
Analyzing Industry Competitive Forces
Porter, M.E. (1985) "Competitive Advantage", The Free Press, New York, 1985.
Slide 13 All Copyrights reserved
Innovation Examples
Slide 14 All Copyrights reserved
Innovation Examples
Slide 15 All Copyrights reserved
Areas of Innovation www.doblin.com
Slide 17 All Copyrights reserved
Building organization and process to support project mix
Classifying and Having Right Mix of Projects
Slide 19 All Copyrights reserved
Innovation Techniques Design Thinking
How do we get inspired - Gather (Observe end users)
How do we come up with possibilities - Ideate Brainstorm Lateral Thinking
How do we decide - Prototype
Slide 20 All Copyrights reserved
Example of Design Thinking
Slide 21 All Copyrights reserved
Motivating Innovation – Nice to Have
Slide 22 All Copyrights reserved
How a company appeals to employees
Slide 23 All Copyrights reserved
Motivating Innovation in Corporate – Must Have Mission (Purpose) and Vision (Picture of results) to guide/inspire
employeesJobStreet Mission: To improve lives through better career
Google Mission : To organize the world's information and make it universally accessible and useful
Culture that drives continuous improvement Expect/Encourage/Challenge
Make each person accountable for improvements Communicate x 10 Celebrate
Assess (Interpretation/Measure) Tolerate learning failures
Slide 24 All Copyrights reserved
Motivating Innovation in Corporate – Must Have Allow some flexibility instead of rigid process
E.g., Agile Development, Fail FAST Equip your people - Train people on Innovation
Techniques and Apply Open environment - expose as many to relevant
information/users. OK to report failures Hire right - people with right attitude to want to
get it better every day and is persistent Proper incentive
Does not have to be always $$$
Slide 25 All Copyrights reserved
Global Innovation Ranking 2008
#1 USA
#2 Germany#3 Sweden
#25 Malaysia
#24 Qatar
#9 Japan
#4 Singapore
Research pulication by INSEAD – business school of the world. http://www.insead.edu
Where are we?
Slide 26 All Copyrights reserved
Improving Lives Through Better Careers
"640K ought to be enough for anybody." Bill Gates, 1981
Slide 27 All Copyrights reserved
Thank You
Improving Lives Through Better Careers
Join JobStreet Forum at
http://forum.jobstreet.com discuss career options, seek scholarship opportunities or talk about innovations.
Email: [email protected]