WHAT IS INNOVATION? A Simple Explanation for Engineers And Others
WHAT IS INNOVATION? For many people, in particular engineers, the term innovation is very confusing. Some people keep searching the term 'what is innovation' on google because they remain confused due to so many bad explanations. But it's not that complicated. And Innovation is so important to success that the sooner you understand it, the better. If you're an engineer, then this will help you to become a better engineer in 2020.
If you're struggling with innovation, you need to understand the different areas of innovation and consider what would make you, your product or your company stand out from the crowd when people don't know you and don't care about you yet.
In this video, I’m going to explain what innovation in nice and simply, why it’s important, and also explain 6 areas where innovation can take place. That way you’ll have a clear understanding of what innovation is and you can share it with others and look smart.
Learn and apply this definition and you will be a better engineer fast, and develop better engineering skills for career success (inc. mechanical engineering skills).
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Innovation is not restricted to amazing tech and inventions. There’s a lot more to innovation. Innovation can actually happen everywhere. You can even innovate yourself. Let’s look at 6 of the key areas where innovation takes place.
AREA #1: Product innovation
When people think of innovation, often, they’re thinking of product innovation. Product innovation might include developing completely new products, improving the performance of existing products, or adding new features.
Example: Tech companies like Apple and Samsung put out new innovative smart phones every year, including new products, improved performance and new features.
AREA #2. Service innovation
This is when you provide new ways to provide value to your customer
Example: We used to watch videos through DVDs, aerial, satellite, and cable tv. That changed with the innovation of on-demand videos via youtube, Netflix and other providers.
AREA #3. Process innovation
This is when you improve the processes used to produce, deliver and support a product or service. There are many tools and techniques for process improvement. Lean thinking is a very powerful philosophy for process innovation, which I plan to discuss in a future video.
Example: Restructuring a production line so that required components arrived just in time so you don’t have to hold a lot of stock.
AREA #4. Business and organisational innovation
This is how your organisation or company structures itself, and also how it makes money. There are various aspects of this type of innovation, but I don’t want to get too complicated here.
Example: Re-organising a management structure to reduce bureaucracy and encourage more business collaboration.
AREA #5. Marketing and sales innovation
This is how your company communicates with customers about your products and services as well as how they are provided. With the rapid pace at which communication is developing, everyone needs to stay on top of this one.
Example: Platforms that allow companies to collaboratively co-create solutions with their customers.
AREA #6. People/Cultural innovation
This one can be very tricky, because it’s about how you develop people, teams, behaviours and a whole host of other things.
Example: Some companies work very hard to develop agile and fun working environments where engineers are able to rapidly try out ideas and develop solutions.
This video is particularly helpful for those pursuing better engineering and searching for engineering skills required, engineering skills needed, engineering communication skills, mechanical engineering skills required, mechanical engineering skills needed, mechanical engineering communication skills and anyone who is a junior engineer 2020.
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