Innovation Leadership Module 1 - Innovation Basics | Malcolm Tyson | Skillshare

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Innovation Leadership Module 1 - Innovation Basics

teacher avatar Malcolm Tyson, Excellence is a Habit!

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Taught by industry leaders & working professionals
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Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

9 Lessons (41m)
    • 1. Innovation Leadership eCourse Mod 1 - Intro

      1:18
    • 2. Innovation Leadership eCourse Mod 1 - Agenda

      1:30
    • 3. 4 Main Innovation Types

      2:53
    • 4. Innovation Continuum and 4 Main Elements

      4:13
    • 5. Innovation Matrices

      2:46
    • 6. Keys to an Innovation Strategies

      2:30
    • 7. Recap and Course Close

      1:24
    • 8. Innovator's Challenge

      2:45
    • 9. **Bonus** - Guest Speakers

      22:10
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About This Class

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The Innovation Leadership e-Course is jammed packed with valuable practices, principles, and tools that will 10X your innovativeness.  This course is designed to help you understand how to lead innovation or build an innovation strategy in your business and conducted by Malcolm Tyson, PhD.  This course will expose business leaders to ways to enhance financial performance and value creation through innovation leadership practices, principles, and tools. 

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Meet Your Teacher

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Malcolm Tyson

Excellence is a Habit!

Teacher

Hello, I'm Malcolm Tyson. I have over 20 years of professional services experience in the aerospace, defense, and healthcare industries.  15 of those 20 years I was a CPA serving on leadership teams on several firms.  In addition to being a certified speaker, innovation coach, and leadership trainer with the John Maxwell Team, I’m also the 2018 Wall Street Journal / Capella University Business Leader Award recipient.  Lastly, I hold a PhD in Business & Technology with a specialization in strategy & innovation. 

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Transcripts

1. Innovation Leadership eCourse Mod 1 - Intro : welcome to the Innovation Leadership Online course. My name is Malcolm Tyson, and I'm so excited that you're you. I'm even more appreciative you deciding to join me or Mr What a journey through this course is Champ Act. Value Principles practices in terms with 10 extra innovative, whether you're a corporate role or urine fledged card carrying entrepreneur before we jump into the material, Here are a few tips to make this experience is best. It possibly can first be present. Be in the moment and take advantage of next limit or eliminate distractions. Mobile devices, social media and email will prevent you from having your best experience. Next. Have an open mind and received the value that discourse was designed to provide. And lastly, you have any questions, comments or suggest leaving Belden to review. Send me a directness. Okay, cool that out of the way. 2. Innovation Leadership eCourse Mod 1 - Agenda: you're here because you want to lead innovation within your business or you want to build an innovation, strategy or innovative culture within your organization. Your life will be different after taking this course, because you will be exposed to ways to enhance financial performance, your innovation, leadership principles, practices in tools, and you also have a better understanding of innovation. Overall, to that end will cover a number of areas in this course from modu. One. We'll talk about innovation types that you can implement with your team or your business. The innovation continuum, which describes innovation as a process and not just milk. We'll talk about that innovation. Major cities, which are tools that help you tie that innovation types and the continuum together. And we'll wrap up with cheese to developing innovation strapped. Sounds good. Well, let's jump on it. 3. 4 Main Innovation Types: There are a number of innovation types that will be effective in your market to increase revenue value bridge. But because we don't have time to discuss them all here, we're gonna focus these for many timers. And if you really think about it, all innovation types could be traced back to because all of them are developed outside of there's this operation and at any point along the business lifecycle. In other words, innovation is independent of operations. You're dependent on life cycle. All right, let's jump into these innovation types, starting with the upper left. We have a business model innovation. Business model Innovation focuses on new ways of delivering your products or services to new or existing customers. This could be a fundamental change in the way that you do business or a simple as an adjustment to an aspect of the way that you do business. Next, we have service innovation service Innovation is concerned with new ways of delivering services or a new service offering to meet customers needs. And this happens to be my favorite because I spent the majority of my career both providing professional services as well as studying. Next, we have product innovation and product innovation is probably the most familiar most familiar to you all because it's the most common type of innovation time this is This involves an enhancement to an existing product. We're a totally new product offering to meet customers needs. Lastly, we have supply chain innovation. Supply chain innovation really is focused and enhancement to an existing supply chain war, a new supply chain member that improves the efficiency, the safety and the value of the products or services being again. This is not an all inclusive list off innovation types, but it gives you a basis of understanding all other innovation times. Let's press ahead, shall we? 4. Innovation Continuum and 4 Main Elements: Let's talk about innovation. So I mentioned before how innovation works outside of the boundaries separations works with in the limits. With that said, there are a couple of systems of thought around something innovation is a singular activity , produces favorable outcomes, and there's nothing wrong with. But there are others that think that innovation is it part of part of a larger continuum that includes me. Continuum is a sequence of slightly different elements that a really different at the extremes. So one end one extreme. You have radical innovation, and this is the game. This not only changes the industry, but it changes the customer that uses the product or service on the other end of the continue. You have incremental innovation, and this just really takes advantage, which already had by making it better. Let's go in a little deeper on the innovation. Continual elements along the innovation continuum. From left to right, you have disruptive innovation. Disruptive innovation is it's where the industry, as well as the participants change Stan disrupt. So think of uber's effect on the transportation industry. That's just wrong. You also have discontinuous innovation, which changes the way the products and services are consumed within the market like a different delivery method. Think of mobile computing and how it's changed just about everything that we do, from grocery shopping to exercise, moving right along on the continuum we have improvements and improvements aren't always could considered innovation. But if we're talking about making our business is better, then it's innovation. This could be any day, for example, improving the efficiency of your accounts, payable process or even streamlining the decision making processes that you employment in your business. The key here is we are improving an existing aspect of our business. That's what it's That's an innovation. And one end of the continuum and closest to incremental innovation is continuous, improved and continues. Improvement is a cultural shit and looks for improvement opportunities throughout the entire business. So, for example, we would look at business operations, for example, and look for areas of inefficiency. Or we would do a gap analysis against industry best practices. We would work to close those those gaps and then continuously assessed how we're doing to improve and businesses. While there are far more elements on the innovation continue and are represented here, these are the most common and again this gives you a solid understanding of innovation, overall innovation, types and innovation. Innovations. Let's move on shall way Talk about how we can bring all get. 5. Innovation Matrices: a practical tools spraying that helps bring innovation, continue innovation types together the innovation matrix with an innovation matrix, you can assess where your innovation issuers are bow compared to where you want to go. In other words, measures your innovation, as you can see on the Matrix along its why access. It's vertical is the innovation continual, which we just talked about but also on the innovation matrix along its horizontal axis. You see the range of performance impacts on the business. Those are organic in strategic organic impacts are those that come about accidentally or without consideration for the ripple of back throughout the business or other parts of the business. The strategic impacts are those that improve the organization's ability to generate revenue , perform efficiency efficiently and increased value. Now the range organic to strategic impacts may not be as far apart as you might think. When you consider an ideal or concept, were approach that has stumbled upon. It has huge strategic impacts. This is especially true for growing companies and newly established teams overlaying the innovation matrix. We have the innovation component Quad. The component quad speaks to what you'll need in terms of business model and technology to develop your innovativeness. However, if you're looking at this from a planning perspective, this is a great way to assess that innovation components where you want to go compared to the components that you have now as a company or a team, let's go a little deeper into these tools. Talk about chase developing innovation strategy. 6. Keys to an Innovation Strategies: if we go a little bit deeper, way can use the innovation component. Kwan to start thinking about innovation Strapped If we add market and technology awareness to assess our degrees of awareness, we've become more purposeful in developing execute herbal strategy. If we want to move from our existing model and technology, we have to shift the object of our innovativeness from inside the firm to the external market. Now, as you can see, this is a progression off market and technology that starts internally but ultimately produces extra. That's the objective of our innovation. Strategy is to impact more lives by making our products and services better meet the needs of our current and prospective customers. To start that progression, we need information, and we've obtained some information through the development of innovations within the firm . But you know, the same information is power, and after all, we live in the information age and with enough information about the problem in the domain , we can start to define them and then we can begin to craft and refine it innovation, strategy to solve the problem or problems within as many domains as we decide to pursue in other words are innovation strategy should have nameless to decide what innovative approach makes the best business sense to move forward with. You see this happening in in the health care, financial and retail industries as companies have come up with innovative solutions to saw longstanding problems and improve our quality. 7. Recap and Course Close: all right. We're at the end of this module on Do should have a better understanding innovation overall as well as being exposed a number of innovation, leadership principles, practices in tools to recap model one. We covered the four most common innovation types way talked about innovation, continual and the most common elements. We talked about the innovation matrix as well as the innovation component kwaht. And we wrapped up with cheese to developing and innovations strategy. I would like to thank you for joining me on this journey. I hope you enjoyed it as much as I did. Until next time, remember, excellence is a habit, Uh 8. Innovator's Challenge: I'd like to begin with this story story of a man a man of considerable discipline and ambition, a man of tremendous vision, passion, a man that experienced a number of failures that for most would eliminate them from the possibility of success for this man. It only solidified his herself. This man experienced success that changed the lives of generations to come. Now, despite having the qualities that most leaders, this man would readily minor mention employees. And despite having success that into me 20 year head start on his competition, this man discouraged any deviation. At one point, this man became so insulting when one of his engineers brought you improvements to his original design that he destroyed the prototype with his bare hands. You see, saying discipline and single mindedness, they gave this man clarity to achieve his dreams, the same qualities that made him intolerable. Stack. This man was so attached to the product that he trumped about for so long that he was unable to see that it designed to be improved, which almost ruined his company. This man is Henry Ford, one of America's greatest innovators. For many of us in before is a great source of inspiration as we come up with new ideas, new approaches as well as when we overcome denials and failures. But let us also looked every war to understand what not to do. Leading innovation. While he had no doubt X questions in the concept, development and building of the first Model team, where was that value when curiosity once he realized his dreams as innovation leaders, we have the distinct privilege and a responsibility to challenge the present for greater futures or as many people as possible. Let's not rest on our work that we did yesterday, but question it today for better tomorrow. 9. **Bonus** - Guest Speakers: Hey gang as a bonus and supplement to the module. One. Basics of the innovation leadership E course brought in to guest speakers. The first is John Maxie, the best selling author, leadership expert and My Mint. He's talking about innovation from a leadership perspective. He states that innovative leaders, each people adaptable as well as principal base in order to facilitate innovation in their organizations. Being next guest speaker is de mystic Elitist is a renowned thought leader, global business consultant and keynote speaker discussing the art of innovation. And he's doing it on entertaining in a major way notice. He talks about innovation culture, which is a great leading into a lot of two of the innovation, and you don't want to miss that. But in the meantime, enjoy. Hi, my name is David Hoyt, and I'm here with John Maxwell and Mark Smith. Were it our exchange event in Boston with over 100 great leaders around the country? Even Robin will have an amazing leadership experiences. We just heard David Gergen here at Harvard. It we're doing a minute with Maxwell. So, Mark, if you would give John has worked for the day innovation where there were talking nine years do David. Your English is not staying. Stock exchange people about fact that leaders that are going to be effective in this time going to be a what I think of it. A basic acting pursuit is created. Take out the pot somewhat understands best best as the have yet discovered. And they have to be your bakery in there. Going that reflex will understand. Times change. People change to see managers. They like everything to stay the same leaders like everything to change that innovative first, that that person is an individual 100 stairs. The change is her best friend. In fact, it's to change. Have opportunities to change you and I cant really reach our potential. So when I think of innovation, by the way your the direct branded when I think first I think about kind of you that's needed in this century, this time one who is your enough to be interviewed and yet have principle based leaders. The anger is that individual innovations, great words, one that I hope every one of you Thanks for joining us, Max. Good afternoon to innovate. That is not the question, because nowadays how to innovate. It's a question I'd like to or today how to bed in the basement. You know of any organized organizations, tremendously from one another. But things have driving a vision. Are in fact, is the art of innovation. Bubble visualized by a triangle where at the Pentagon the triangle represents the sources. The elements required for any purpose created that talent, energy, method, talent. I'm not talking here about somebody with an exceptionally This is not about boats, targets about human me. Creative talent is the scent of steals by which we imagine it's we all have students Bacall , improved energy. I'm not using the word in the Einsteinian energies simply the personal resources determination, time energy is very present comes from within. At the same time, energy is very so. It's fueled by a violence method. Method is a formalized way by which in stages expiration solution, implementation and alternating between ages Method is what makes So I invite Those have leadership roles in organisations. True developed mobilized energy teaching practice No, the square represents structure he organized next, in which innovation happens with four cornerstones ritual target. I insist individual all good ideas come from individuals and we're all more so let's connect people. Let's give them work Will enjoy Given teller team innovation and organizations Never it always holds, but their A teams. Then there are tapes. 40 Innovative. Not the same thing to four teamwork today. Let's imagine it. Whose members are represented by one you 3 11 Shiny in good teams, people condition with one another. Two Former working release. A good related right. Yeah, they once more please. Time personal, personal in van teens, egos, class. And there's different case until they use their imagination to make a great Henrik. And after a good site and the brakes as real bonding, we treat to this in intelligence. People connect in new ways, inventing new things and your ways. Oh, they even reinvents them Selves. And having achieved that T goals on start the it's one to three individuals, great team players target. Be prepared to answer the question. What is your different thanks? Innovation can be very erratic. Brakes when everything you products processes markets landing man on the moves in the private sector radically innovations Tiley Uncle eight four Oboe night. A second type is when company really finds the way. Nike did not invent front, but a design and mark in a very different Grameen Back did not invent bank, but through my they practice thank unique. And there's an innovation. Innovation of the good kind. No, but look continues in all small processes in all areas. All the parts, every looking cranny of the organization all the time and Toyota system to deliver, innovation to deliver and hearts on organization to elect Heidi's many differences. Possible staff suggestions use creative problem solving groups or simply giving people time to work on new ideas. Solitary time. What challenge? Fine the system that is most appropriate for itself. So to establish structure no basis off of people, beautiful work develop in the video. Clearly defined your innovation targets and implement the Pentagon represents culture. The behavior stalls which innovation cries on the five drivers of innovation. All right, yes. Freedom, engage humor. Hundreds ideas. Imagine you're looking around your own. How many serial idea You can see them right? Here's a more look inside yourself. Is there a little idea working? What are you doing about creative companies? Ideas. Freedom. It is possible. Be creative, any of the strict, even repressive but in general or so innovative companies, you have been mobilised. You have open and empowering jobs. Open debates. You can even disagree with your boss engaged. Is the 100 country between organization to help over. True, It takes both sides to develop that trust, that energy in which innovation flourishes and stand the test off time. Sure, yes, you human builds bonds. Humor reduces anxiety. Stress. Like, for example, you know it's going to be a bad day when your partner weeks, but it says Good morning, Chris. Name is humor. I like invites risk. I like to leave the bad news last innovation is really impossible without risk. Taking risks means making mistakes Coming to Charles with, I'd like to share a personal story in my first job 26 years old. I was a product and I was given a new product. I prepare the launch. It's quite radical. ALS appealing directly farmers, provocative publicity campaign and others. The campaign floors ready. Made at the end of this cover our allies to explain, are you a few minutes into my presentation? The CEO said. Dennis, we screwed up, probably because we try to do too many new things at the same time. Now let's all go out. I'll buy you. And he took us out. One of the best. Did I realize how lucky I waas in another company. This is a big career limiting pointing the finger of blame and Sprint toys A. Why did they let this inexperienced dialogue for your product? Instead, I was asked Europe that would be so. To shape a culture for innovation, promote ideas of freedom, much engaged on humor. I think reasonable risks to summarize innovation happens when the sauce open, ized in an organized structure and within appropriate culture. It's lots of things working. Give energy eventual T target ideas. Freedom. Okay, Cuba risk. It is. The skillful suit lists all of these 12 innovation drives that makes no, actually be. When I see that's the art of innovation. That's the theory in our lives. Yes, fury. And there's practice. This thinking and as thinking is cerebral. It happens in the mind. Thinking is thinking is can be analytic where we drink up a problem into its constituent parts, or it can be two assists soonest where we take things from different contexts together. Actually, this axel is all about doing things. No more words no more. Okay, No more blah, blah and right Between fury in action, There's a very exciting Will it work? Um, e idea Here. Sweet to get the eggs in the glass. We've I think I could do it, but thinking is not enough. No action or results, so we'll do it. But what's the payoff? I succeed? Will there be a clause in the cheers and rolls? Wow. Oh, I know. But what if I failed as risking both? There will be egg on my face or hollow. You remember my talk innovation? No, to say this song. You go home and say there was this guy Tried to get some eggs but he's food up. Oh, no throat successes. Oh, failure. Failure is good for energy. So if I miss a few of the X beats applaud, cheer and roar us Now you can you please para freeze innovative organizations? What success? Celebrate honest, you know, reward success celebrate face on this index