Coming up with a new business idea is the easy part – it’s what you do with it that counts.
Almost 40% of Australian businesses reported introducing at least one type of innovation during the year ended 30 June 2011, according to the ABS report – Innovation in Australian Business, 2010-11. Most of these businesses were from the wholesale trade industry which recorded the highest proportion of innovating businesses (51%), followed by the retail trade industry (42%). However 6% of businesses reported abandoning at least one type of innovation activity during the same year.
Those looking to stay in the game and introduce innovation to their business can learn what it takes to do this by joining the Business Model Innovation Masterclass, held by QMI Solutions on 11 April at the Brisbane Powerhouse.
QMI Solutions CEO, David Harrison said organisations needed to change their business model to successfully accommodate and nurture their innovation into commercial reality. “Successful businesses are the ones that can take an innovation from the creation of a new idea all the way through to commercialisation.
“To achieve this, businesses need to evolve or change the way they do business,” said Harrison.
Presenter Dr John Kapeleris, General Manager of Australian Institute of Commercialisation (AIC), a division of QMI Solutions, said business model innovation is crucial as it is applied to the whole business, not just part of it. “It works by realigning the organisation with the demands of a constantly changing environment.
“This results in a business that is relevant, agile and supported by a culture that encourages new ideas and collaboration to meet market demands,” said Kapeleris.
The Business Model Innovation Masterclass is designed for senior management and those who are ready to make a difference in their organisation to gain competitive advantage. Participants will have access to presenters who are leading innovation experts who have successfully applied innovation to their own businesses as well as consulted to organisations to achieve innovation outcomes.
Presenter Dr John Kapeleris, a renowned innovation leader established the TechFast Program – Accelerating Technology Transfer and Diffusion into the SME market and has assisted numerous organisations and entrepreneurs achieve commercial outcomes from their ideas and opportunities.
Participants will also hear from Dr Tim Kastelle, a leading expert on innovation who lectures on Innovation Management at UQ Business School, will share his experience as a guest speaker. Kastelle has worked with a range of organisations including Brisbane City Council, Ergon Energy, Teys Australia, Fairfax Digital, Rio Tinto and Hatch Engineering on innovation projects.
The course develops existing commercialisation knowledge and will explore:
– How to use strategy development techniques
– Managing planning and resourcing within your business
– How to assess commercial feasibility of innovative opportunities
– Facilitating collaborative innovation
– How to balance innovation with risk management.
The Business Model Innovation Masterclass will be held at the Brisbane Powerhouse on 11 April and costs $295 per person (incl. GST).
For more information visit www.qmisolutions.com.au/events/ or call 07 3364 0614.
What QMI Solutions can do for your business
QMI Solutions helps industry meet demand and opportunity in a global environment by; developing a skilled workforce, engaging staff in the business, improving productivity and reducing waste, identifying new markets and opportunities, applied innovation and bringing ideas to market. See case studies of how we have done this at www.qmisolutions.com.au