Market Research

Market research enables the company to understand a marketing problem better. The value of the results depends upon on 5 steps: Problem definition, Research design, Field work, Data analysis, Report presentation and implementation. New product ideas are likely to emerge from the market place during research. This is because changing fashions and improved communication networks are creating new aspirations among costumers. This information has to be solicited. It will not flow or be recognized in the hustle and bustle of chasing bottom lines curing routine every day business operations.

Market Research

Market research enables the company to understand a marketing problem better. The value of the results depends upon on 5 steps: Problem definition, Research design, Field work, Data analysis, Report presentation and implementation. New product ideas are likely to emerge from the market place during research. This is because changing fashions and improved communication networks are creating new aspirations among costumers. This information has to be solicited. It will not flow or be recognized in the hustle and bustle of chasing bottom lines curing routine every day business operations.

The 6M Map for Problem Analysis

Every problem can be analyzed by looking at the 6 Ms – Men, Materials, Machines, Methods, Markets and Money. Get the team to study all six aspects of the problem, past, present and future. The 6M Map provide an elegant format to help understand the underlying structure of your company. It enables you to dissect all parts of your organizational anatomy. Each of the 6Ms should be thoroughly studied for problems. . It is important to involve everyone in identifying the real problem. What is a problem for the worker need not seem like a problem for the manager. The following example will help you in better understanding Mr. Ramesh, former HR director of Hyundai, once recounted the case of an absentee worker. He was constantly absent because of backache. Everyone thought he was malingering until it was found that he was shorter than the other workers, and was straining his back by stretching it. Increasing the height of the platform on which he stood solved the problem and eliminated his absenteeism

Problem Analysis

Innovation is to analyse your problem in depth and make sure that everyone understands all aspects of the problem. Answer these questions together. Record all points using a poster and post-it slips. What is the present situation? Why has the problem arisen? Why should it be solved? Why is it a problem for me personally? What thoughts have I already had, or what efforts have I made to solve the problem? Why are these thoughts or efforts insufficient or unavoidable? What kind of action can I initiate towards solving this problem? What would the ‘ideal’ solution be? If you can able to answer the above questions, it will guide you to not only to find out the right solution but helps you to find new resolutions.

Protecting the Ocean

On the 28th January 2017 two oil cargo ships collided off the Ennore Coast near Chennai, India and poured tonnes of oil into the ocean. The waves and the southern current carried it 34 kms up to Vettuvankeni in the South. What was great, was that a large number of students and volunteers joined the official clean up operations. Sadly, the sludge was being removed in buckets. The volunteers often suffered burns with no proper safety equipment or clothing. But the spirit was commendable. Over 70 tonnes of heavy black sludge was removed from the ocean. Considering that when MT BW Maple and MT Dawn Kanchipuram, collided one of the ships carried 32813 tonnes of oil, we in Chennai, were lucky. Health camps were conducted to provide treatment to those involved in cleaning operations. Over 60 doctors stood by to treat breathlessness and skin ailments. Nineteen helicopter sorties to spray oil dispersant chemical were undertaken. Sale of fish dropped 50% due to fears about pollution. In Indian ports, only 50% of pollution response equipment is funded by the centre. The training and acquisition of equipment to handle such accidents appears inadequate. The sludge mixed with sand has affected our world famous beaches. The ecological challenge is obvious. Dead turtles are being washed up. Fish eggs and eggs of other marine creatures are sure to be damaged. Birds that eat the dead creatures will surely be affected as will the people. Of course this is insignificant when compared to the Gulf Oil spill from Discoverer Enterprise. It is still the largest accidental spill in world history. It resulted from a blow out in a BP oil rig. Oil flowed at the rate of 25 million gallons of oil a day for 87 days! 3.19 million barrels of oil leaked out. It damaged 57 miles of Gulf shore line and the birds and marine life destroyed cannot be estimated. Experts say this could have devastated the coast for years to come. Deep sea corals which live for centuries were damaged and eco system deep in the ocean were destroyed. The oil dispersant caused some more damage. Pelicans were covered with black oil. Fish floated belly up. Over 200 dolphins died that year and for at least 9 years afterwards. Kemp’s ridley sea turtles nests became far less. Small sea birds could not fly and dive for food with their wings encrusted with oil. Shrimp fisheries were closed for the year. Heart defects were noticed in the larvae of blue tuna fish. Deformed wildlife was found. The ocean belongs to mankind. It is our earth’s lung and needs to be protected. The smallest country can affect the largest in this arena. So let us save our oceans.

Impact Analysis

It is now time to prioritize problems to be solved. Make sure no time is wasted on non-critical problems. Team members can critique and analyze each problem ruthlessly. Put them up on white boards in your innovation centre so that people live amidst them, feeling free to add their thoughts. Task for the day Choose problems which are high-value, big-ticket items for the company. The four key issues which you like to consider are: increasing revenues, reducing costs, improving customer satisfaction and improving employee participation. Analyze each of the problem using the format given below: Impact Analysis – Outcome Time Increasing revenues Reducingcosts Improving customer satisfaction Increasing employee participation 1 Month 3 Months 6 Months 1 year Have a long term goal and stick to it through difficult times.

Sub-problem Statements

Each problem can be broken up into sub-problems. A problem is like a jigsaw puzzle, made up of many pieces which are its sub-problems. Create small teams around each sub-problem. Allow each team to work using thinking tools. Create a problem statement and sub-problem statement as per the following format and work on it with your organizational problems: Problem Statement Problem : How to…………. Serial No Sub – Problem People to be involved Budgets Outcomes Teamwork drives innovation. Challenge each other when working together.

Welcome joy into your space

http://web.asianage.com/life/more-fThose who read are happier, as are those who play a game. This year take proactive steps to increase happiness in the here and now. Seek out new experiences and adventures. Studies show that even planning to go for a comedy movie increases one’s levels of happiness. Even if you make a booking for a new adventure, your mood shifts to a more positive level. Those who read are happier, as are those who play a game. Families who play together find themselves in an improved mood. Tai Chi or swimming help replace brain cells lost due to stress. It is believed that gardeners are happier than those who live in sterile surroundings and have nothing to do with the Earth. Being in the midst of nature for 20 minutes has a positive effect on one’s well-being. A pet, undoubtedly, contributes to wellness. There are many easy steps you can take to welcome joy into your space: • Get Sun in the mornings or late afternoons for a shot of instant well-being. • Dress up and look your best every day. • Smell flowers or spray a floral scent all around your home. A citrus scent is believed to banish depression. • ‘The Lipstick effect’ works well for women. • Painting rooms in sky blue shades is believed to ushers in a sense of calm. • Food has for centuries been the way to heartfelt happiness. Walnuts, apricots, mushrooms, dark chocolate increases contentedness and caffeine increases dopamine transmission. Seafood, meat, and nuts provide zinc and can lift your mood. • Being grateful for all that you have. Buy gifts for others. Shut off from social media. This year you get out of your auto-pilot mode and rise up. The writer is the author of Everyday Happiness Mantras and Innovation Sutra. eatures/050117/welcome-joy-into-your-space.html

The Joyful Harvest

The Middle of January is the harvest festival. It is a time of holidaying and 3 days of joyous festivities. All the cities are empty as everyone goes off to celebrate in their villages. The U.S. celebrates Thanks Giving in September. Harvest is mainly associated with fruit and vegetables, for which we give thanks. This is the whole point of the Harvest Festival. The cattle’s are decorated, homes are painted, implements are cleared and everything is worshipped. In India, Makara Sankranti, Thai Pongal, Uttarayana, Lohri, and Magh Bihu or Bhogali Bihu in January, Holi in February–March and Onam in August–September are a few famous harvest festivals. In Britain, the last cart bringing in the harvest is decorated and the house festooned with garlands. This is the time for each of us to sit back and celebrate the successes in the four quadrants of our lives: personal, family, work life and social life. The Bible speaks of a ‘time to sow and a time to reap!’ This is your time to reap the results of all your hard work and acknowledge the joys, successes and high points of the past year. This is the time for gratitude for all your blessings. This is important as most of us are trained to find fault with ourselves and others. We know what is wrong, what has been done badly. We are trained to pick the smallest flaws in every action of our family and friends and even ourselves. During this season, eschew all such discounts and embrace affirmations and sincere appreciation. It is said that you need to given 10 affirmations to safely administer a single discount. Most of our daily balance sheets have the opposite. This year enjoy, celebrate and praise God for all the good news in your life! 1. Celebrate your hobbies with an exhibition for friends of fruits, paintings, music or stamps. 2. Celebrate your family with a get together, a website or a night out with all of them. 3. Write letters to those at work who helped you. Write to those who need comfort, give out little harvest gifts – fruit, wine, food. 4. Organize a coffee meet for your neighbours and friends. Sugarcane juice and other harvest goodies could be exciting add ones. 5. Start a daily thankfulness dairy. Record all things you are thankful for, every day. 6. Have a celebratory dinner for your family to celebrate all the achievements and blessings showered on each of you during the previous year. 7. Give a thanks giving gift to all the people who work for you and write a note celebrating their contributions. It is important on a regular basis to celebrate all the good things happening in our lives. While one can go on striving for future goals, honouring our past and present helps us to find the energy to move with determination into the future.

Management Systems and Implementation – the Steering Committee

Create a steering committee to lead and coordinate the innovation initiative. The chief innovation officer is usually the chief executive. He is supported by the innovation champions and at least two members of the top management. This committee should conduct weekly reviews. They will ensure smooth process flow while inspiring the teams to deliver results. The duties of the innovation champion will be as follows: • Ensuring that the innovation spirals meet regularly, • Organizing the training of the trainers and others on an ongoing basis. • Regularly following up to ensure that the tasks agreed to are carried out. • Facilitating collection of monthly reports and preparing a consolidated report. • Handholding teams, encouraging and promoting innovation across the company. The steering committee meets once a month to review and take corrective action. The floor should be kept open for those who would like to participate. All teams can meet to gather forces for implementation. They should ensure that support is provided for innovative projects with potential.

Innovation Spirals

The word ‘spiral’ grew out of the MindsPower belief that an idea is like a stone thrown into the still surface of the lake. The ripples spread across the lake. Just as the flutter of a butterfly wing in the rain forests in Brazil can cause an earthquake in Indonesia, or when New York Stock Exchange sneezes, the Asian economies catch pneumonia, every new idea changes the company. Innovation spirals are cross-functional teams, created to design and implement corporate strategies. Kanter writes of factors that inhibit the culture of innovation. • Dominance of restrictive vertical relationships • Poor lateral communications • Limited tools and resources • Top-down dictates • Formal, restricted vehicles for change • Reinforcing a culture of inferiority • Unfocused innovative activity Building an organizational culture supportive of creativity is not something which can be done in a hurry. It takes time to build trust between individuals and to reinforce the beliefs and norms we wish to encourage. Despite the obstacles, continuous efforts must be undertaken to ensure the development and maintenance of a creative culture in order to ensure systematic innovation.