Innovating as an SME: A Case Study of Raynor Foods PRESENTED BY: - - PowerPoint PPT Presentation
Innovating as an SME: A Case Study of Raynor Foods PRESENTED BY: TOM HOLLANDS FIFST CS C I BS C (HONS) INNOVATION AND TECHNICAL DIRECTOR FOOD SCIENCE AND INNOVATION DEPARTMENT RAYNOR FOODS LTD UNITED KINGDOM Presentation Outline Brief
PRESENTED BY: TOM Æ HOLLANDS FIFST CS C I BS C (HONS) INNOVATION AND TECHNICAL DIRECTOR FOOD SCIENCE AND INNOVATION DEPARTMENT RAYNOR FOODS LTD UNITED KINGDOM
years ago
Chelmsford, Essex (Birthplace of the
Radio)
Award Winning Innovations
consulted in Austria, Italy, Spain, Saudi Arabia, Israel and
KNOWLEDGE FOSTERS SUCCESS
“Exploitation of new ideas” DTI, UK.
”Implementation of products or product delivery processes with new or significantly improved characteristic” Oslo Manual
“Introduction of new products, methods of production, new markets, new sources of supply and new forms of
“Innovation is change that creates a new dimension
innovation process
improved – which has value!
performance i.e. reduce cost and/or increase demand
growth prospects.
IT’S A PROCESS!
➢All resources the firm invests in innovation activities (De Massis et al, 2014).
✓People ✓Networks (people wise) ✓Skills & Knowledge ✓Locations/land/premises ✓Financial ✓Technologies ✓Machines ✓Time ✓Trust…. ? Openness to risk
➢Innovation activities (Gellynck et al, 2007).
✓Training - embedding new skills and knowledge into the business. ✓Job swaps – releasing naivety ✓Desk rotations – sharing naivety and problems ✓Classic brainstorming – ideation methods ✓Classic R&D ✓Reciprocal keyperson business exchange ✓Horizon scanning – attending conferences, lecture, summits, tradeshows ✓Problem hunting ✓Mindmapping ✓Future gazing – what is and what could be?
➢All innovation outputs (OECD, 2005).
✓Outputs have tangible (e.g. profit) and/or intangible effects (e.g. reputation) (Gellynck et
al, 2007).
✓Outputs are new or significantly improved. ✓Outputs can be categorised into domains;
➢ Product innovation ➢ Process innovation ➢ Market innovation ➢ Organisational innovation
✓Output domains cascade into subcategories e.g. product innovations could be new goods, services or ideas. (Avermaete et al, 2003) ✓Outputs of earlier innovations become inputs for future innovations . (Avermaete et al, 2003,
Stone et al, 2008)
PRODUCT INNOVATION (1) Good (2) Service (3) Idea PROCESS INNOVATION (1) Technology (2) Infrastructure ORGANISATIONAL INNOVATION (1) Marketing (2) Purchasing and Sales (3) Administration (4) Management (5) Staff policy MARKET INNOVATION (1) Exploitation of territorial Areas (2) Penetration of market segments
INNOVATION 1 (NEW PRODUCT) INNOVATION 2 (NEW SERVICE)
❖ Challenging to measure, but important ❖ Competencies required typically increase with innovativeness ❖ Value creation typically increases with innovativeness ❖ Degree of innovativeness linked to higher performance ❖ Relationship between the degree of innovativeness and the number of benefits, across a number of areas (e.g. food safety, quality etc.).
❖ i.e. higher innovativeness = more holistic benefits
Transformational Breakthrough Incremental
➢ Small and meaningful improvements ➢ Collectively improvements are significant ➢ Extremely common ➢ Assist in extending product/service life cycles ➢ Improves profitability ➢ Typically low risk ➢ Small number of benefits ➢ Vast majority (in food) are;
✓ ‘New’ and ‘improved’ recipe formulation ✓ Me 2 ✓ Packaging change ✓ Provenance ✓ Process enhancements
➢Breakthrough innovation benefits are both significant and multifaceted ➢Multifaceted i.e. realised across a range
efficiency, sustainability ➢Uncommon/Rare ➢Disruptive to the market/industry ➢Improvements have significant tangible and intangible benefits ➢Innovation inputs are more demanding
➢ Ergo - Risks are higher
➢They change the market landscape and consists of something ‘really new’
➢ Exceptionally rare ➢ Transforms the way we live, work (and even feel!) ➢ Significantly disruptive – usurps and discontinues older technologies and ideas ➢ Innovation benefits are profound and both tangible and intangible ➢ Benefits are realised in many fields and disciplines and will not only benefit one industry or market. ➢ Transformational innovations spawn new markets and new opportunities for existing markets ➢ Often (but not always) significant and risky innovation inputs required.
than sum of parts?
non financial resources
value creation
Packaging and Ovens
paramount
chance of future success (outputs become inputs)
experience;
EXISTING AND IN DEVELOPMENT INNOVATIONS
supporting culture continues to grow and flourish
teams to facilitate delivery
fulfilment and growth are attained by all staff
➢TO ASSESS THE FEASIBILITY OF INHOUSE MICRO LEAF AND HERB PRODUCTION;
across all departments and functions.
systems enhanced
across multiple areas
activities