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Showing content with the highest reputation on 08/08/2024 in all areas

  1. Innovation - To think anything new or creative which is beyond the regular nature of any process, product or service is called Innovation. It is indeed required in businesses to think innovatively for the critical problem's resolution. When we think Innovatively it helps to boost productivity and efficiency to a new level. Example- Initially when NASA(National aeronautical space agency) started doing space missions it was a heavy investment to manufacture a spacecraft and for next mission again same investment have to be done which needs proper planning ,huge funds and time. Where as SpaceX made spacecrafts which are reusability due to soft landing back on earth which in return gives huge savings. Kudos to Elon Musk and team who worked on this projects with innovative thinking. Invention - To create something new which is physical or non-physical in nature is called invention. It takes huge efforts and experimentation to reach up to the conclusion stating that we have invented some thing. As there are initially failures to fulfils the target that we have set, eventually when all causes giving undesired result are identified and resolved with innovative solutions fulfils the criteria of 'Invention' Example - Invention of Bulb by Thomas Elva Edison Applicability of Lean Six Sigma in Innovation and Invention:- The innovation can be rigorously used in DMAIC giving particularly example of Improvement phase. The solution can be envisioned innovatively to improve the 'To Be' state of any process which is having less investment and good ROI. Similarly in Inventions as well the tools such as 'FMEA' , 'DOE', 'Fishbone Diagram' ,'QFD' can be used to enhance and boost the journey of Invention.
  2. Innovation and Invention both focuses on the creative skillset required to drive excellence in each and every aspect of life, be it personal or professional. Invention primarily revolves around creating something which is completely new, for example, when Lean Six Sigma got established as core basic of bringing improvement at Toyota motors, it was Invention in Operations Methodology. Over the years. LSS has encompassed multiple facets, as per the changing times and emerging ways of working, thus, leading to Innovation in LSS Philosophy
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