Innovation Engineering Fundamentals
Companies competing with Innovation as their primary business strategy have an average 3-year profit margin that is over 50% higher compared to the profit margins of companies using a primary strategy of low cost, quick delivery, voice of the customer or high quality. Innovation Engineering provides a system that transforms innovation from a random art to a reliable system that delivers increased innovation speed (up to 6x) and decreased risk (30-80%). VMEC Innovation Engineering workshops provide a sampling of the key basics of the Innovation Engineering mindset on how to CREATE, COMMUNICATE & COMMERCIALIZE Meaningfully Unique Ideas.
Check out this Innovation Engineering recording from our summer 2021 Noontime Knowledge series.
The Innovation Engineering workshops are taught using the Cycles to MasteryTM teaching system. It’s a proven system of learning that has been found in new University of Maine research to be 4 times more effective than classic methods of teaching. This Innovation Engineering workshop covers 6 of the 48 Skills that make up the Innovation Engineering Body of Knowledge. You will learn innovative thinking skills that can be applied in your daily work with problem solving, process improvement, and new product or service offerings.
CREATE: Here you learn the new mindset that creates a 6x increase in the number of high quality ideas versus classic “brainstorming.” It features a special focus on how to enable active learning from customer insights, marketplace benchmarking, technology and future mining. And, how to leverage a collaboration mindset to create an exponential increase in effectiveness.
COMMUNICATE: Innovation Engineering Communicate skills are a new “outside in” thinking approach that doubles your odds of success by turning sales and marketing into a customer pull system. It also provides a simple way for focusing and clarifying ideas so that everyone – from front line worker to the CEO – can speak the same language.
COMMERCIALIZE: Innovation Engineering Commercialize skills are a transformation in how to reduce innovation risk. Instead of attempting to “plan, study and study away risk” you learn the new Fail FAST Fail CHEAP™ approach. It’s a modern and accelerated version of the classic Deming learning cycle of “Plan, Do, Study, Act” applied to innovation.
The workshop concludes with a brief presentation and discussion on how to bring it all together using the Innovation Engineering Management System. Please plan to bring a laptop, tablet, or smart phone to the workshop, as you will need to conduct searches on the internet.