mti project presentation johnson & johnson
TRANSCRIPT
DEVARAJAN K | SHALABH DHANKAR | SONAM BHARGAV | AMARENDRA KR.GORAI | BHARATH BALAJI | AKSHATA V M | KARTHIKA S| NEELAM | VIGNESHWAR M | AMOY KUMAR D |
KULBHUSHAN SINGH BAGHEL | MAHTAAB KAJLA
Group III
Flow of presentation
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2
3
J&J company and Past innovation culture
Innovation process at J&J
Tools deployed for innovation identification
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5
6
Innovation Audit framework
Closing the Innovation Gap
Q&A
J&J- Company and Past Innovation culture
● 250 subsidiary companies ,57 countries, products sold in over 175 countries● Worldwide pharmaceutical sales of $24.6 billion for the calendar year of 2008
● Innovation through resource re-configuration of internally developed and acquired resources
● 87 unique medical sector product lines between 1975 and 1977 (14 Internal and 73 through acquisitions)
YEAR RECONFIGURATION DONE PRODUCT LINES INVOLVED
1982 Acquisition of A&O Surgical Co Inc and and Symedix Inc Dialysis supplies
1982 Acquired units combined with Medical Specialties Inc Cardiovascular accessories, Dialysis supplies
1983 Extracorporeal Medical Systems Inc, Vascor, and Cardio Systems Inc reconfigured into a new originating unit Hancock Extracorporeal
Cardiovascular accessories (heart valves etc)
1984 Hancock and Extracorporeal Medical Specialties Inc amalgamated to form new unit Johnson and Johnson Cardiovascular
Cardiovascular lines retained,dialysis lines divested to Baxter International Inc
1986 1986 JJC unit divested to Medtronic Inc Cardio vascular accessories
1995/1996 Menlo Care Inc and Cordis Corporation acquired. Cardiovascular accessories
Product Innovation
● Consumer Products
● Medical Segment: Lead user Methodology
Understanding Consumer Needs
Are existing technologies available?
Test of practicality and feasibility
Clinical test
Safety tests
Various attributes to consider
Process Innovation
Skunk-work like groups
Involving external stakeholders
Systematic Inventive thinking
Frameworks & COSAT
Knowledge Sharing
Bucketful of Money
Barriers to Innovation
Physician-Centric Model
Policy & Regulations
Increasing cost of R&D
Overseas Competition and Linguistic IssuesFunding
Tools to identify potential areas of innovation
Dynamics of medical device
innovation
INNOVATIVE CAPABILITIES AUDIT FRAMEWORK – CORPORATE LEVEL
Refer Excel for Detailed analysis
Innovation Gap
Fear of Risk
Reduced Funding
Lack of Innovative Leaders
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Risk Taking vs. Risk Averse
Diverse business units
Functional silos
Investor vs. inventor
Long term investment vs. short term operations
More than 250 internal divisions several SKUs
Different goals & communication gap
Failure good for innovation fatal for finance
Closing Innovation Gap
Appendix
Traditional Performance
Combined traditional and new
New only
Traditional only
Effort (Elapsed Time, Cost)
Potential for increased innovation
Performance Gap
Savings from combining traditional and new
technologies
THANK YOU