Innovation: The Key to Business Success
Realise Your Vision: Reflective log
If you plan to develop innovation in your area of interest, this template is designed to help you document yourthoughts. The template is divided into sections that follow the activities in the course.
As we move through the course you can add to this document and by the end of the three weeks you will have a detailed reflective log that you can use when defining a proposal or business plan.
Week 1, Activity 1 – What is innovation?
-How does innovation relate to your area of interest?
-Does it relate to product, process, service, business model or organisational change (or a combination)?
-How radical do you want to be - something completely new - or are you looking to improve on something that already exists?
-What is your idea? Can you write your idea in less than 200 words?
-If you don’t yet have a definite idea, in what area would you like to innovate?
Week 1, Activity 2 – Incremental innovation (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-How are you going to ensure that your innovation moves forward incrementally and does not stagnate after the first iteration?
Week 1, Activity 2 – Incremental innovation (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-How are you going to ensure that your innovation moves forward incrementally and does not stagnate after the first iteration?
Week 1, Activity 3 – Radical and disruptive innovations(case studies)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-Does your innovation have the potential to be radical and/or disruptive? How will you manage this?
-If the commercialisation of your innovation is a possibility make sure you read the tips provided by Dominik Lysek, the scientific entrepreneurial founder of Credentis.
Week 1, Activity 4 – A context in history
-Understanding the history or story of your innovation, or similar innovations, will help you to realise the potential.
-Spend some time researching past innovations that have led up to your proposed innovation. Also consider similar innovations, possibly from different markets. Learn from past mistakes and from successes.
-Jot down key factors that have influenced successful innovations.
Week 2, Activity 1 – Drivers and challenges
-What are the drivers for your innovation? Consider the key drivers mentioned in the video: technology, customers, the business environment, competition. You may be able to identify additional drivers.
-What challenges are you likely to face? Consider the challenges identified in the video: limiting opportunities, accessing innovative ideas, the speed of change, and the risk of failure. Again, you may be able to identify additional challenges.
Week 2, Activity 2 – Drivers and challenges facing businesses (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-Consider the drivers and challenges faced by M&S. These are similar for many businesses; how do they relate to your area of innovation?
Week 2, Activity 3 – The serial innovator (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-The drivers and challenges facing an independent innovator or a small business are more focussed on the individual. If you are in this situation what can you learn from Emily?
Week 3, Activity 1 – Collaboration
-How you are going to engage others when designing, developing, testing and marketing your innovation?
-How are you going to encourage individuals or businesses to adopt your innovation?
-Is there potential for bringing in external expertise to help you through open innovation or crowdsourcing initiatives?
Week 3, Activity 2 – The innovation champion (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to innovation in your field.
-Do you need to take the role of the innovation champion?
-Is there an individual or organisation that can help you to promote your innovation?
-Who will you need to persuade to gain support? How will you persuade them?
Week 3, Activity 3 – People as inspiration (case study)
-As you watch the videos and join in the discussion jot down any thoughts and ideas that might be relevant to your innovation.
-As you design and develop your innovation how are you going to gain the user/consumer perspective? How are you going to ensure that the innovation meets the needs of the potential market(s)?
-How will you gain insights from your potential customers?
Week 3, Activity 4 – End of course reflection
-What are you going to do next? During this course you have had time to think about your innovation in the context of the examples and case studies provided. You have also had opportunity to discuss your ideas with fellow learners. Hopefully you are feeling inspired and motivated; make the most of this and take some time to reflect and plan your next steps.
-You can always return to this document when you have the time to move forward with your innovation; it will provide a starting point and help you to rekindle your enthusiasm.
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