Unmet consumer needs are considered the holy grail of product and service innovation: a mystical, sacred entity with unlimited value and powers for those that know how to tap into it. It would seem that with present day digitalization and social media, it is easier to connect to users everywhere through online surveys, platforms, and data mining technology. Moving from a mass-producing economy to one based on individually tailored products suggests that the gap between consumer needs and producer response are closely aligned. Yet the mystique surrounding unmet user needs remains.
Clean sheet redesign is the method of rethinking existing businesses from the ground up. For established companies, this is a way to innovate processes by asking the right questions about current practices. For start-ups working on a clean sheet, they can apply similar techniques to disrupt existing models, while taking inspiration from existing success stories from other industries. What can start-ups learn from innovation from a variety of industries, such as airlines and mining?
Things have definitely gotten out of hand. Executives in suits are rummaging around in the LEGO box, a tall man is putting on a wig and speaking in a high-pitched voice, and a group has hijacked all the furniture to build what looks suspiciously like a fortress. Not a scene from an asylum, but the Prototyping phase of THNK’s Innovation Flow. It’s time to turn new ideas and visions into something tangible, a product that can be used and tested, broken up and rebuilt a dozen times. For innovation leadership, this is a crucial step in the creative process.
There has been a lot of buzz around designing new and innovative business models. But what does it mean to design a new business model? How do you apply design thinking to business model innovation?
Since we’re obliged to pursue innovation in a competitive marketplace, speed matters. In fact, it matters a great deal, for your competitors aren’t waiting, and you cannot afford to allow them to get too far ahead. The faster you recognize new trends, threats, and opportunities, the faster great ideas get discovered and created, the faster they get to market, the faster you earn money, build brand, and extend the relevance and reach of your firm into the future.
In today’s crowded marketplace a new product is only as good as its packaging and marketing campaigns. How can you make it stand out from the competition? How can you update the design of your product without alienating your customer? The new book “Creative Anarchy: How to Break the Rules of graphic Design for Creative Success” provides ideation techniques and creative tools to push boundaries and expectations while preserving the function and message of the design.
The essence of agility is the ability to respond to new and different conditions. You cannot continue repeating the same old operating formula long beyond its utility or you will be left behind. Are you prepared to adapt to the profuse variety of new circumstances with new tactics and strategies? The principles of Agile that we examine in the next three chapter excerpts of Agile Innovation will help you understand what you need to do.
Innovation hubs are popping up from Addis to Amsterdam and Boston to Bangalore. Fuelled by ideals of openness, community and collaboration, hubs aim to be the next orgware for innovation—beyond business incubators and R&D labs. Managers, policymakers and investors have taken note, but are grappling with how to engage. What makes hubs so appealing and can they teach innovation managers anything new?
Nothing is more constant than change. Furthermore, the speed of change is accelerating. So for instance, the global knowledge is growing exponentially, disruptive megatrends (e.g. Internet Of Things, urbanization, demographic shifts) are shaping the innovation agendas and new approaches for capturing value by innovation (e.g. Business Model Innovation, Design Thinking) are becoming mainstream. Thus, new realities for innovation management are emerging and firms are forced to change their innovation management ever faster.
January 7, 2014 | By: Doug Collins | In: Serialized Books, The Dirty Maple Flooring Company Enters the Digital Age
Part ten of the series finds challenge team members Ivete Monte and Carlos Suerte comparing notes. How has the first collaborative innovation challenge from the Idea Mill Program been received in their respective regions? What reservations does each have?
Thinking like a designer can transform the way you approach the world when imagining and creating new solutions for the future. It’s about being aware of the world around you, believing that you play a role in shaping that world, and taking action toward a more desirable future. In my new book ‘The Innovation Expedition’ I describe the five characteristics necessary to think like a designer.
How to create innovations that customers do not expect, but that they eventually love? How to create products and services, which are so distinct from those that dominate the market and so inevitable that make people passionate? A major finding has characterized management literature in the past decades: that radical innovation, albeit risky, is one of the major sources of long-term competitive advantage. But is that really the case? Read more in this article by Roberto Verganti, Professor of Management of Innovation and author of the book “Design-Driven Innovation.
Business is changing. To be successful in the twenty-first century, businesses in developed economies must connect with people’s emotions. This move towards greater emotional intelligence explains why “storytelling” has become so fashionable in marketing and therefore, in the following article, we will explain how you can bring storytelling into your innovation work. The aim:helping you create novel concepts that also connect emotionally.
In his book No Straight Lines: making sense of our non-linear world, author Alan Moore argues that humanity shifts gear when it demands fundamental change to its real world circumstances and that this moment stands as a turning point in the collective approach to the organisation of the economy and society as a whole. This deeply thought provoking work is relevant for innovation management professionals in all industries, as it: challenges how we think innovation gets done, and then offers up new viable alternatives; argues that innovation can be accelerated and costs reduced; demonstrates that we need a new vocabulary to describe non-linear innovation and finally, explains how innovation can also help build a more regenerative world.
The business world is very rational. Operational excellence, financial mastery and technology savviness have become pre-requisite not to stand out as a winner but to be allowed to compete. While a hard-nosed business mind is essential to cope with the increased pressure of globalized competition, it is creativity, in the form of innovation and the ability to implement it rapidly that is fast becoming the most treasured competitive asset. Companies need to innovate in a fast yet relevant manner in order to remain competitive today and develop the game changers that will allow them to remain competitive in the future.