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IN THE NAME OF GOD. Idea Processing Capabilities In Universities. By: Dr. Jahangir Yadollahi Farsi 27 Sept.2004. Introduction. Innovation and new product development is very important because of: Globalization Trends Knowledge Era Employment Challenges
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Idea Processing Capabilities In Universities By: Dr. Jahangir Yadollahi Farsi 27 Sept.2004
Introduction • Innovation and new product development is very important because of: • Globalization Trends • Knowledge Era • Employment Challenges • Human Capital Needs of Development
Innovation is the most effective tools for start-up a business and stay competitive.
Why Innovation Is key? • Innovation is the key to success in the global economy. • Continuous reinvention is required to keep pace with the rapid pace of change. • The basis of productivity and prosperity is innovation.
Four Categories Of Innovation • An existing product or service in an existing market. • A new product or service in an existing market. • An existing product or service in a new market. • A new product or service in a new market.
Ideas can be converted into commercial action, but only by a process.
Types of Innovative Ideas • New Technology for an Existing Market. • New Technology for New Market. • Paradigm shifting Technology. • Existing Technology Modified
The Process of New Idea Commercialization 1. Idea Generation and Idea Collection 2. Idea Screening 3. Concept Testing 4. Business Feasibility Analysis 5. Product Development 6. Market Test 7. Commercialization
Here, Our Concern Is Idea Generation
Idea Generation • An ongoing search for product ideas to be consistent with target market needs and the Entrepreneur’s vision .
Idea Generation Techniques 1. Brainstorming 2. Surveys 3. Product analysis 4. Attribute listing 5. Forecasting (continue)
How To Generate Ideas? • Define the problem of : • people • Organizations • Firms • etc. Here problem is unsatisfied needs
Gather data • Analyze the data • Solutions finding • Screening solutions and select a solution • Evaluate the solution and modify it • Describe and identify the solution
Developing new products and services by developing new solutions to problems.
Where To Look For Business Ideas • Draw from personal interests or hobbies. • Look around for limitations in existing products or services. • Make a wish list. • Think of new and different ways to use existing products. • Take a close look at the social scene and how it is changing. • continue
Consider technological advances and how they affect currently available products • Think of possible defects of existing products or services that might be developed. • Look at currently established business. • Consider the features of particular products.
Identify An Existing “task” Completed Now. How can technology make this task easier,cheaper,faster?
Sources of Information for New Product Ideas 1.Research and Development 2.Producers 3.Distribution Channel Members 4.Compititors 5.Consultants 6.Creative thinking 7.Customers
Some Important Statements • Ideas require intelligent seeding. • Ideas that sit on the shelf are worthless. ideas have to move, and touchlotsof people and businesses to provide benefits. • Universities/Colleges and Researchers are the most important parts of the equation.
Idea Screeningminimize risk by focusing on ideas with the highest probability of success. The first filter in the product development process, which eliminates ideas that are inconsistent with the entrepreneurs vision or are inappropriate for some other reasons. Continue
Idea Screening Checklist 1.Entrepreneurs Vision and Goals. 2.R&D Support. 3.Marketing Expertise. 4.Financial Resources. 5.Production Resources 6.Production Capabilities. 7.Distribution Support. 8.Market Demand. 9.Profitability. Continue
Patent ability • Financial Analysis: • Sensitivity analysis • Break-Even Analysis • Marginal Analysis (continue)
12.Use important criteria's • Market size • Product price • Development time and costs • Manufacturing costs • Rate of return Continue
Concept Testing To test a new product idea from the consumers viewpoint before any prototype has been created. Describe a product idea in functional objective and subjective terms to create a product concept or image. The product concept is presented to targeted and professional customers to gain their reactions and then reach to a decision: accept/reject/modify the product idea. Product image is the way consumers perceive an actual or potential product.
Business Feasibility Analysis Specify Product features, resourcesand expected quantitative results in a basic marketing plan. In this stage considerations are: costs,sales and profitability. Feasibility study Consists of Four Parts: • Economic Analysis • Technical Analysis • Financial Analysis • Legal and Political Analysis
Product Development • Converts a product idea into a physical form (Prototype). • Research and Development. • Value analysis of components (Cost-quality-performance tradeoffs) • Packaging choices.
Product Development • Time consumption. • Costs analysis. • Production run kinks. • Creation of prototype. • Limited production for operational test in real place Continue
Ethical Issues In New Product Development • Product obsolescence • Right to be informed • Quality of life and ecology • Right to safety
Market Test An experimental design to test one or more elements of the marketing mix (plan) under realistic market conditions to measure sales, product acceptance or profit potential.
Commercialization • Production • Inventory Buildup • Distribution • Sales Training • Advertising (continue)
Graduates Capability Needs Common Characteristics are: • Innovative • Need for Achievement • Comfortable for Risk • Don’t Need or Like Structure and Definition • Comfortable With Ambiguity and Uncertainty • Value Independence • Sense of Control Over Environment and Destiny
Self-Confidence • Common Sense • Persistent and Hard-working • Energetic • Integrity • Change Adapter • Networking
Personal & Group Innovation Practice Personal&Group Knowledge P- & G- Attitudes Idea Processing Capability Data & Information Continuous Learning R&D Facilities P- & G- Skills Capable of Inter- Disciplinary Working The Model of Idea Processing Capability Environment Environment
Key Elements To Build Technology Driven Economy • Research and Development Base in Universities to Generate New Knowledge/Discoveries • Skilled, Technical Workforce • Entrepreneurial Culture • Technology Infrastructure • Mechanisms for Knowledge Transfer
Industry Depends Upon University Research More Than Before • University research draws ideas from commercial trends more than ever before-feedback loops from industry to universities. • Regional economies need university researches more than ever before. • University innovation –private funding have been the key to the growth of many successful technology companies. • Supportive university culture is crucial.
What we need are mechanism and processes for managing the development of applications for technology (a knowledge management concern or Academic Entrepreneurship) .
Academic Entrepreneurship Academic entrepreneurship is the creation of an environment for active support of knowledge exploitation, stimulation of entrepreneurial behavior among all the members of and institutional structures in the academic community.
Transforming The University • From Teaching To Learning • From Research To Innovation • From Service To Network
From Teaching To Learning • Conveys the Knowledge Message is Critical. • Elevates the Overall Role of Life-Long Learning. • Places Learners at the Center of Decision Making. • Create a New Dynamic of Collective Learning.
From Research To Innovation • Recognizes that innovation is key. • Creates expectation that continuous innovation is the norm. • Recognizes key ingredients for innovation are broader than research.
Places of Creative Interplay Interaction Diversity Creativity Expertise Continue
Places of Creative Interplay • Expertise Means Talented People. • Interaction: when people come together, there's a better chance for the passionate exchange of ideas and synergies that create new business models, marketing plans or products. • Diversity is important in generating the “next big thing”. • People learn most by interacting with people less like themselves.
From Service To Network • Recognizes universities are the Locus for multiple innovation,ingredients,talent,interdisciplinary teams. • Recognizes that barriers to innovation have been traditional walls that separate universities, industries and entrepreneurs. • Recognizes the power of tacit knowledge.
Other Proposals To Transform University:1.Establish Knowledge Communities: Start with highly energetic students and faculties. To: • Organize Technical Forums. • Sponsor Technology Networking. • Generate New Ideas and Technology. • Promote Effective Cross-Functional Team Building. • Promote Team-Working. • Provides a Perspective of Science and Technology in a Commercial/Industrial Context. • Provides Practice-Based Learning. • Building the Ability to Develop Tec-Based Business Concepts. Continue
2. Develop higher education institutions that generate and convey knowledge of a high international standard. 3. Strengthen competency in new technology sciences. 4. Strengthen lifelong learning and the ability of graduates to convert knowledge in to creative practices. 5. Strengthen entrepreneurship training in universities.
Questions For Group Discussions • Are students aware of the real application of what they learn in university courses? • Are students capable of thinking and working in multidisciplinary issues? • Are students capable of team building and team-working especially interdisciplinary? • How university could invest in student’s idea processing capability? • How university could transform to cope with new and immerging issues?
