A recent book I’ve been reading, Fast Innovation, put forward an interesting idea. It said there are 3 main ways to be innovative:
· Product innovation – this is the normal thing we think of. Better products, or something completely new that everyone wants to buy.
· Market innovation – these are the value added services that support your products. This is things like 24/7 repair service or specialised coloured cases for i-Pods.
· Business Platform innovation – this is the way you do business and control costs. Dell’s online rapid design and delivery service was an innovative business platform when first conceived.
The book makes a futher point that the most interesting new ideas come when you find an intersection between at least two of the above. Quite interesting! If you think of the way people currently approach innovation they really look at the first bullet, and maybe the second bullet when their market matures. But do they really try to combine all three? There is some real power in this approach.
Over the next few days I’ll be taking the above idea further and giving examples of how it has worked in the real world of business.
0 comments:
Post a Comment