Innovation for Every Business: Let's Evolve for Growth

Unlock the power of innovation with insights from Margaret Mangion at the Edward de Bono Institute, University of Malta. Discover the myths, challenges, and strategies surrounding innovation for business success.

• Innovation
• Business Growth
• Margaret Mangion
• Edward de Bono Institute
• University of Malta

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Uploaded on Feb 20, 2025 | 0 Views

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1. Innovation for Every Business Let s Evolve: Growth Through Innovation Margaret Mangion margaret.mangion@um.edu.mt The Edward de Bono Institute For the Design and Development of Thinking University of Malta www.um.edu.mt/create

2. Innovation The role of SMEs 2 Margaret Mangion. Edward de Bono Institute. University of Malta

3. The Myths surrounding innovation. 3 1. 2. 3. 4. The Eureka Moment Build It and They Will Come Pay is Paramount Innovation is Radical Birkenshaw, Bouquet, Barsoux (2011) Margaret Mangion. Edward de Bono Institute. University of Malta

4. Why Innovate? 4 Change happens! Successful innovation has been associated with subsequent growth and therefore performance of the firm. (Freeman, 1982) Margaret Mangion. Edward de Bono Institute. University of Malta

5. Who Moved My Cheese? 5 Margaret Mangion. Edward de Bono Institute. University of Malta

6. Different Types of Innovation. 6 Radical Incremental Margaret Mangion. Edward de Bono Institute. University of Malta

7. Forms of Innovation 7 Product Electronics amongst the fastest to change Service Online trading platforms Process Ford, Zara Margaret Mangion. Edward de Bono Institute. University of Malta

8. How can we innovate? 8 No perfect recipe Organisations are all different BUT innovation IS possible Margaret Mangion. Edward de Bono Institute. University of Malta

9. Simon Woodroffe 9 Margaret Mangion. Edward de Bono Institute. University of Malta

10. The Challenges. 10 Internal resources, technical expertise time management, attitudes External policies, environmental factors Margaret Mangion. Edward de Bono Institute. University of Malta

11. The Facilitators 11 Active learning - opportunities Collaboration quality circles Building communities internal and external networking Risk Taking not being afraid to fail Moving forward eliminating the barriers that stifle the process red tape etc Praise we all like a pat on the back Margaret Mangion. Edward de Bono Institute. University of Malta

12. Making the time to be innovative: A few strategies Book time for creative effort Anticipate change Anticipate your clients Introduce activities that may help your staff members to be more creative Have fun together Rope your staff in. Provide feedback Let your customers lead you to the next product Use tools to analyse and generate ideas: WH questions, brainstorming 12 Margaret Mangion. Edward de Bono Institute. University of Malta

13. Turn problems into opportunities 13 Margaret Mangion. Edward de Bono Institute. University of Malta

14. Lets innovate: Innovation for every business. 14 Margaret Mangion. Edward de Bono Institute. University of Malta