https://www.inspiringnext.com/wp-content/uploads/2021/06/logo-340x156-1.png 0 0 Ripi Singh https://www.inspiringnext.com/wp-content/uploads/2021/06/logo-340x156-1.png Ripi Singh2014-06-21 10:06:292022-01-11 07:41:08Expanding Sphere of Influence When Innovating
Expanding Sphere of Influence When Innovating
Most of us are innovating most of the time. We may not think of it that way. Here is one simple way to classify the creative activities in a product development process, and a look at expanding the sphere of influence:
- Personal Innovation: An individual innovates at personal level to make his routine job more effective. The worker gets the benefit from better work-life balance.
Forum for sharing such best practices creates a broader impact.
- Process Innovation: An organization innovates the tools and processes used in producing the same product, thus reducing cost and time. The company improves its bottom line.
Process alignment and integration across the organization broadens the impact.
- Value Proposition Innovation: The company is able to increase sales through an innovative value proposition. The stakeholders are able to derive higher value through creative articulation of same product/service.
For wider impact, think like the end user, and seek out creative business models.
- Product Innovation: The company incrementally innovates the product/service. The company improves its top line and the customers get more value out of the product. Product development strategy that looks beyond the immediate market demand would increase the impact by timely introduction of superior products.
- Lifestyle Innovation: The company creates a disruptive product/service. then positively impacts human behavior or lifestyle.
Create an independent “skunk work” type team or incubate a new business for successful disruption.
Time for Discovery – In your business, how are you making innovation more effective ?