Start learning with our library of video tutorials taught by experts. Get started
Viewers: in countries Watching now:
Innovation propels companies forward. It's an unlimited source of new growth and can give businesses a distinct competitive advantage. Learn how to innovate at your own business using Systematic Inventive Thinking, a method based on five techniques that allow you to innovate on demand. In this course, author and business school professor Drew Boyd shares the techniques he's taught Fortune 500 companies to innovate new services and products. Drew provides real-world examples of innovation in practice and suggests places to find your own opportunities to innovate.
In the bonus chapter, Drew shares insights from his own career and answers tough questions on resistance to innovation, innovation and leadership, and the difference between generating vs. executing innovative ideas.
When using the attribute dependency technique, I want you to be aware of a few common challenges. First, don't confuse components with attributes. Components of a product or service are generally the things that you can see or touch. Where an attribute on the other hand is a characteristic of a product or service. It's something that varies about that particular component or the product itself. Be sure to make an attribute dependency matrix. It's a bit more time consuming, but if you take the time to do it right the matrix will give you a great collection of virtual products.
It will help you stay organized and see many new opportunities. Make sure you create different types of dependencies. For example, you can create positive correlations. As one attribute increases in magnitude another attribute also changes by increasing in magnitude. You can also flip that relationship so that it becomes a negative correlation. As one attribute increases in magnitude, the other attribute decreases in magnitude.
That new type of relationship can lead you to some pretty surprising innovations. Create dependencies only between those things you can control. You can create a dependency between two internal attributes of your product or service. You can also create a dependency between an internal attribute and an external attribute, but you can't create a dependency between two external attributes. For example, it would be really great if you could create a correlation between the weather and time of day.
If you figure that one out, you'll become very famous. Finally, be sure to use all three types of dependencies; passive, active, and automatic. Each of these might yield your next blockbuster idea.
There are currently no FAQs about Business Innovation Fundamentals.
Access exercise files from a button right under the course name.
Search within course videos and transcripts, and jump right to the results.
Remove icons showing you already watched videos if you want to start over.
Make the video wide, narrow, full-screen, or pop the player out of the page into its own window.
Click on text in the transcript to jump to that spot in the video. As the video plays, the relevant spot in the transcript will be highlighted.