Why Innovation?Anticipating market/consumer needs and delighting them continuously with new products, services and improved quality
Widening competitive gaps via differentiation and superiority in offers, internal efficiencies and intellectual property
Creating value not only for the business but also for the society
Making the company ‘a place to work for’; recruiting the best talent
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Uncovering something previously unknown or unrecognized.
Visible
Creating something new by translating ‘the known’ through experimentation.
Possible
Expanding the idea into something that: is unique, generates value and is worth of exchange.
Available
Innovation is creation and delivery of novel value to consumers and company. Any ‘proposition’ should have 3 characteristics to be called as innovation.
Successful innovation happens with structure and discipline which requires development of innovation capabilities. Strong and sustainable innovation capabilities result from robust innovation model design.
Uncovering something previously unknown or unrecoqnized.
Visible
Creating something new by translating ‘the known’ through experimentation.
Possible
Expanding the idea into something that: is unique, generates value and is worth of exchange.
Available
The path is most of the time not linear but iterative
Innovation is creation and delivery of novel value to consumers and company. Any ‘proposition’ should have 3 characteristics to be called as innovation.
UNIQUE
One of a kind
- Not necessarily only about the product itself but any element of the value chain.
VALUE GENARATING
Possitive impact on a person's life
- Can be product, service or business
- Not sufficient if it only creates value for the company
WORTHY OF EXCHANGE
People are willing to give or exchange something for it
- Might be beyond monetary value such as time, support, intellctual...
Success in innovationSuccessful innovation happens with structure and discipline which requires development of innovation capabilities. Strong and sustainable innovation capabilities result from robust innovation model design. |