what is innovation ele3701 day i

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Brief intro lecture on what is innovation. Kept short for sharing purposes. Day I at BI Stavanger's Innovation and Entreprenurship course.

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Page 1: What is innovation ELE3701 Day I

What

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Promotion wins quarters; innovation wins decades.

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Nobody really knows what innovation is.

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There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things.

Because the innovator has for enemies all those who have done well under the old conditions and lukewarm defenders in those who may do well under the new.

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It can be fun to learn from history...

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 “It’s a great invention but who would want to use it anyway?”

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Rutherford B. Hayes, U.S. President, after a demonstration of Alexander Bell’s telephone, 1872

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“This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication. The device is

inherently of no value to us.”

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“The Americans have need of the telephone, but we do not.

We have plenty of messenger boys.”

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How has Telenor reinvented its business model?

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Innovation =

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 Innovation equation:

Innovation = fresh ideas + strategy + change management

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To turn really interesting ideas and fledging technologies into a company that can continue to innovate for years, it requires a lot of disciplines.

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Innovation, we believe, is a fascinating new management science that is still in the early stages of development.

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Getting innovation right requires new leadership skills.

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Make innovation part of everyone´s job.

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