A broad definition:

         Innovation is a human effort. It is the synthesis and utilization of organizational knowledge and resources to sustain growth with profit from current operations and new products.

        For further information listen to Dr. Thota's Presentation.

Why innovation is important today?

        In the current deflationary economy companies face stiff competition and cannot raise prices or grow profitably to achieve their targeted pretax profits. To compensate, they invest less on new products and technologies to the detriment of their long term competitiveness. But, this is not the only choice. There is a way organizations can both sustain profitability and invest for future growth. By utilizing the principles of the innovation process in the daily conduct of business operations and the execution of development projects, companies can become proficient at both incremental and radical innovation.

What is the Synchonized Innovation Process?

Definition:

        The Synchronized Innovation Process (SIP) is a phased, enterprise wide, gateway process in which organizational resources (people, business processes, and capital) are utilized to sustain income from current operations and new products.

        Embedded in the SIP are two essential business processes: order generation and product delivery. The order generation process includes other business processes such as product development, stage gate and portfolio management. The product delivery process includes value chain efficiency and cost containment.

       For further information view the slide show.

How can IBD help YOU?

        Our leadership tools can help the following teams make visible contributions to critical path points in their organization’s value chain.

With our tools, you will be able to:

• Use strategic thinking preferences of team members to improve knowledge transfer and decision making within teams.
  
• Spend more time leading projects, managing portfolios, and developing platforms instead of selling intenally or firefighting.
  
• Coach team members to increase the depth and breadth of their decision making capacity.
  
• Take timely actions to achieve mutually agreed upon goals with your teams.
  

The Result: You will minimize waste and re-work in your processes to achieve faster cycle times, cost containment, and quality improvements.