Investing in Business Innovation

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Excellence and Innovation for Business
Welcome!

Praveen Gupta President, Accelper
Consulting Architect, Brinnovation Pioneer, Six
Sigma ASQ Fellow
gupta_at_iit.edu praveen_at_accelper.com
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Objective and Outline Today

• Objective
• Understanding role of excellence and innovation
  for ensuring profitable growth and creating new
  opportunities
• Outline
• Understanding Innovation
• Making innovation
• Pervasive
• Predictive
• Profitable
• Our Portfolio of Innovation Programs

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U.S. Economic Outlook
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Mexico Economy
Economy down 8.5 GDP down 5.5 Lost Factory
Orders/ Jobs Worse than Tequila Crisis What to
do?
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Praveen Gupta President, Accelper
Consulting Architect, Brinnovation Pioneer, Six
Sigma ASQ Fellow
gupta_at_iit.edu praveen_at_accelper.com
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Sustaining Profitable Growth
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Praveen Gupta President, Accelper
Consulting Architect, Brinnovation Pioneer, Six
Sigma ASQ Fellow
gupta_at_iit.edu praveen_at_accelper.com
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Excellence First!
Shoot and Aim
Just Do IT!
Aim and Shoot
Do IT Well!
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Process Excellence Model
OCAP
4P
Cost of Failures
Cost of Appraisal
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Praveen Gupta President, Accelper
Consulting Architect, Brinnovation Pioneer, Six
Sigma ASQ Fellow
gupta_at_iit.edu praveen_at_accelper.com
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What is the difference?
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Dynamics of Innovation
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Feel their Pain?
Love Thy Customers!
CUSTOMER SATISFACTION
3. UNSPOKEN Love to Have

• Complaints
• Nagging problems
• Indecisions
• Repeat problems
• Upset employees
• Technical challenges
• Stagnation
• Circumstances

2. SPOKEN CUSTOMER EXPECTATIONS
SUBJECTIVE REQUIREMENTS
EFFORT TO MEET CUSTOMER REQUIREMENTS
TRENDS OVER TIME
1. UNSPOKEN ASSUMED REQUIREMENTS
OBJECTIVE REQUIREMENTS
Scout for the opportunity!
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Thinking G.C.S.F
?
Thinking Time (min) Per Idea
Good Crazy Stupid
Funny
Extent of Innovation
Create new opportunities by combining two or more
ideas uniquely.
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Make it Fun!
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www.google.com
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The Building Block of Innovation
Innovation Effort x Speed of thought2 Innovation
Effort x (Knowledge, Play, Imagination)
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Think, You Can!
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www.google.com
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The T.E.D.O.C. Methodology
Which phase (s) we do and dont?
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Easing Customer Pains
Effort x (Customer Knowledge, Play, Imagination)
Fundamental
Platform
Derivative
Variation
5 - 15 yr. 2 - 5 yr.
1 - 2 yr. Now 1/2 yr.
Immediate
Near Term
Long Term
Short Term
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Organization for Innovation
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Freedom to Think!
Encouragement to think
Freedom to give funny ideas
Make your people think? Give them time!
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Time and Place to Think!
www.Google.com
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Making Innovation Predictive
HOW?
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Return on Innovation
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Return on Innovation
What should be done?
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Sustaining Profitable Growth
Start before you need to
Invest in leadership development
Appoint a seniorleader
Educate managers in innovation
Designate a team of experts
Monetize and Institutionalize Innovation
Capture key value growth ideas
Train the troops
Allocate resources for innovation
Develop new innovative solutions
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The Task at Hand

• Your job is your business
• Run like a business, not like a job
• Information and technology are your competitive
  weapons
• LEARN TO EXCEL AND INNOVATE
• Love and serve your customers
• Create value-add services
• Service your solutions
• Sell, lead, and enjoy!

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The Innovation Class (IIT Chicago)
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Training Programs _at_ IIT

• Your job is your business
• Run like a business, not like a job
• Information and technology are your competitive
  weapons
• LEARN TO EXCEL AND INNOVATE
• Love and serve your customers
• Create value-add services
• Service your solutions
• Sell, lead, and enjoy!

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Business Innovator Certification
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Business Innovation Conference
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Asking questions is critical for becoming more
innovative!
(C) Accelper Consulting 2007
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Thank you!
I believe creativity happens, but I also believe
that Mr. Gupta has helped uncover a way to make
innovation happen. - Dipak Jain, Dean, Kellogg
School of Management

• For more information, please contact
• praveen_at_accelper.com
• Toll Free [phone] Tel (847)
  884-1900
• www.accelper.com www.ibusinessinnovation.com
  

www.businessinnovationconference.com
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Praveen Gupta
Praveen Gupta, a management consultant, has
authored several books including Business
Innovation in the 21st Century, Stat Free Six
Sigma, Six Sigma Performance Handbook, and
Service Scorecard. Praveen is Editor-in-Chief of
International Journal of Innovation Science, and
writes a monthly column Manufacturing Excellence
in the Quality magazine. Praveen frequently
speaks at conferences internationally.
Praveen has been recognized as a thought leader
in areas of excellence and innovation. He has
developed Six Sigma Business Scorecard, the 4P
model of excellence, Breakthrough innovation, and
Stat Free Six Sigma methods that have been
translated and used worldwide. Praveen, the
founding president of Accelper Consulting
(www.accelper.com), has worked at Motorola, and
ATT Bell Laboratories, and consulted with about
100 small to large size companies including CNA,
Abbott Labs, Superior Essex, Dentsply, Hexel,
Experian, Sloan Valves, Weber Markings, Wayne
State (Ford), and Telular. Praveen taught
Operations Management at DePaul University, and
Business Innovation at Illinois Institute of
Technology, Chicago. He has conducted seminars
worldwide for over 20 years. Accelper Consulting
provides training and consulting services in the
area of innovation, Six Sigma and business
performance for achieving sustained profitable
growth. Praveen can be contacted at
praveen_at_accelper.com.