COMM1120: Collaboration and Innovation in Business (6 UOC) – Week 1: Innovation & Creativity Pre-Workshop Activities Week 1 Tasks: Before your weekly workshop: o Complete the Pre-Workshop Activities During your weekly workshop: o If you are in an online workshop, please go to the Online synchronous (live) workshop classes section and open the Zoom links. If you are registered for an on-campus workshop class, please refer to your class timetable for the location of your workshop o Follow your tutor’s instructions on the workshop activities End of week: o Please provide feedback on how your week went Pre-Workshop Notes: Innovation (and creativity is a process) Not necessarily something new – can be an adaptation or small improvement etc Innovation leads to value creation to a stake holder (internal or external) or customer Each person has a role The difference between innovation and creativity Creativity is about creating or generating a new idea, concept, way of doing things Innovation is about making the idea work in the real world o Its about taking the risk of implementing this idea which can revolutionise the world (or small incremental changes - modifying a business model, adapting to changes in market, coming up with a better practically to generate profitability, customer experience, better products or service) Netflix Creative then innovative Changed the way we see movies + changed viewing habits - introduced binge watching and how we engage with pop culture in society Created in 1977 to provide the service of movies in peoples home to be more convenient and accessible – starting with mailing out DVDs to people’s homes Became widespread – emphasised collection of data (location, preferences) in their business model to figure out the popular movies + recommendations for people needs to improve business model and profitability Streaming service to eventually phase out mail service – willingness to adapt to their own business and took the risk of disrupting their own business Blockbuster did not adapt and gave up the opportunity to buy Netflix – not that innovative Innovation and Creativity requires a level of risk taking and bravery to explore the idea and possibilities it might generate and the risk to disrupt business model in an attempt to maximise growth opportunity – important for future proofing your business (do not become attached to your ideas – works with collaboration as not one person can be attached with their ideas as Amazon collaborated with Netflix (competitor) to develop back-end infrastructure for online streaming long term growth) Collaboration is important with healthy conflict when working with competitor is important to put creative ideas by innovative practices + can lead to better innovations in the long run Innovative on an almost global scale - Changed the way most people engage with entertainment media + entertainment content is produced as they generate their own content based on collection of data based on user preferences and behaviour and practice to make sure their content is directly tailored to user interests Business model relies on collection of data and data analytics for creating and disseminating a well customised product is common – Amazon, Facebook, Apple – relies exclusively on data collection to adjust their business model, create products adjust products or send products to their consumers in some way Confirms that Netflix’s innovation practices in 2000s was extremely effective as it is widespread – due to the providing of value to consumers with their subscription model compared to blockbuster. If innovation has the capacity to add value and enhance quality of product, level of convenience, and effectiveness of consumer engagement then it is extremely effective. Netflix started this innovation process by understanding target audience by thinking creatively of the way they disseminated their product, not afraid of change, not afraid of disrupting themselves, brave enough to change form their mail order service to online streaming service at the risk of self-destruction and they did this by with knowledge of customer preferences and educating customer preferences on the way – shows readiness to engage with the creative side which was methodically and thoughtful put into practice as part of the innovation process of changing their business model Showing that innovation and creativity does not always have to be hugely revolutionary in order to create revolutionary outcomes – important to follow a systematic process to take a creative idea from the stage of an idea to the stage of implemented product that has benefits to the company and society. Learn through practice + collaboration + knowledge of processes Google Glass Creative idea that was not a successful innovative idea Legal implications of being able to record with glasses (not allowed to bring into businesses) and societal fear due to not enough exploration and discovery into how it will be used and perceived) + price was too high to provide value for customers (more than $2000 AUD) The creative idea of wearable technology is still heard of such as Apple watch so the leading initiates in creativity have the potential to be put into practice in an innovation sense more effectively Demonstrates Netflix’s success to discover and exploration to really understand the context in relaunching a new product –understood stakeholders in terms of their preferences, economic affordability as being a priority, culture interests, technological preferences and partnered with ley strategic companies to help them develop a platform that could cater their customer base Key to effective innovation - Exploration and iterative stages in the beginning where creatives ideas are merely explores and potential innovative ideas thought about in depth in a way that’s relevant to their business and meets an unmet need To prepare for your workshop, have a think about the Double Diamond approach that was mentioned in the Welcome video and reflect on how it might apply to the following three context areas: a. in context of your own experience In the context of my own experience, I have come to the realisation that I have unknowingly been utilising the Double Diamond Approach to break down the stages of a complex problem in order to find solutions that are considerate of all factors relevant to the issue and have been thoroughly thought out by visualising and focusing on defining the why and how of the problem. I have used this approach in a variety of daily problems such as figuring out the best method of transportation or tackling assignment and homework tasks. b. in the context of a business case In the context of business, the double diamond approach allows businesses to effectively solve complex problems by discovering and exploring the issue in depth and their contexts in order to create effective solutions which not only solves the problem, but provides value by enhancing the quality of product, level of convenience, and effectiveness of consumer engagement, as seen with the case of Netflix adapting to their consumer preferences. c. in the context of Assessment Task 1A: Goal setting In the context of Assessment 1A: Goal Setting; the Double Diamond approach directly relates to the assessment by breaking down the task into the four stage and encouraging a deep understanding of the problem in order to solve these complex issues. In the context of completing an assessment task, it is important to recognise, discover and define the scope of the task. This directly correlates to the problem diamond, as having a greater, more apt understanding of the problem is necessary to develop and deliver successful solutions. The understanding of the marking criteria and class material allows for issues to be identified as well as concurrently enabling the generating of ideas suited to combat these problems. For example, devising a study schedule to complete the assessment in an orderly, timely manner; this can be seen through the implementation of a gantt chart. Workshop Notes: First group activity: Catching the bus 1. Walk to the bus 2. Signal the bus 3. Take a seat 4. Press the stop button and Tap off and Walk off Innovation – invention or changes to Incremental changes that can improve business processes (supply chains, customer experience, adapting to new markets Value creation and commercialisation Innovations fail o Wrong decisions: insufficient information as a basic for decision o Low priority for innovation o Lack of market orientation o Slow structures: bureaucratic decision making, not keeping up with comp o Weak business models to support innovative ideas o Lack of effective communication to market – telling target audience the value Vine: Vine shut down because it failed to support its content creators, due to high levels of competition, lack of monetization and advertising options, personnel turnover, as well as issues at parent company Twitter. DD: Why/How did you choose to study at UNSW
