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Throughout the last century, captains of industry learnt to master the process of production to such extent that it now no longer functions as a significant competitive advantage. The new challenge is to master the process of Innovation. This includes harnessing change and creating new competitive advantages by offering better products, using better processes, delivering better services, or even offering new solution.

However, we have not yet learned to master the Innovation Process. A great number of our companies have only a rudimentary understanding of what it requires to master Innovation and what Innovation really is. In todayâ€™s global economy, the ability to innovate is vital to ensure growth and competitiveness in the coming decades.

This presentation provides an in-depth discussion of the essential elements of the Innovation Process companies must know and master in todayâ€™s competitive world. It explains a 5-phase process to Innovation:

1. Ideation
2. Idea Selection and Conceptualization
3. Prototyping
4. Business Planning
5. Implementation and Launch

Gaining mastery of the Innovation Process and Model will enable companies to better manage Innovation. Innovation Management can deliver results and competitive advantages.

Additional topics discussed include the Fundamentals of Innovation, Barriers to Innovation, the Innovation Machine, and Leading Practices.

This deck also includes slide templates for you to use in your own business presentations.

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Source: The Innovation Process PowerPoint document

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The Innovation Process

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Did you know? This framework is part of the Innovation Management FlevyPro Stream, our curated collection of best practice Innovation Management frameworks. Full details here.

This business document is categorized under:

Business Framework Primers

File Type: PowerPoint (ppt)

Tag(s): Innovation

Number of Slides: 24 (includes cover, transition slides)

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Upload date (first version): Jan 7, 2019

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