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Where do you apply innovation strategies?

From: Business Innovation Fundamentals

Video: Where do you apply innovation strategies?

When you think about the parts of a business and different ways that you can ply you can apply innovation methods, it's an essential question to answer because companies are complex organisms right. There are a lot of moving parts. There are so many ways that you can bring value throughout an organization. And you know I hate to sort of state the obvious but you think, you want to think about innovation in just about every part of your business. Now clearly some parts of your business are more important than others.

Where do you apply innovation strategies?

When you think about the parts of a business and different ways that you can ply you can apply innovation methods, it's an essential question to answer because companies are complex organisms right. There are a lot of moving parts. There are so many ways that you can bring value throughout an organization. And you know I hate to sort of state the obvious but you think, you want to think about innovation in just about every part of your business. Now clearly some parts of your business are more important than others.

But from my experience where I've seen innovation used let's let's go through kind of a list of things. There are for example some of our clients that are in the food manufacturing business. They manufacture food. They design foods. They use it to create new products. They want the to unlock more value out of their their recipes and their methods. And so they take the methods to create new products. Other companies like financial services companies. One of our clients is a financial service company that uses it to improve and innovate insurance processes.

How they take new clients and sign them up. It's a very tightly regulated process that has to be done without errors. And this company was able to systematically innovate it to bring new value not necessarily for the client but for them internally. That brought a lot of value. It was more productive, more efficient, and more accurate. So services, processes, you can also use it in operations in your manufacturing processes. At my company, my former company, we applied systematic innovation to an organization.

We wanted to innovate our market research function. And so we applied it to the market research function just like it was a product. And what we came out with was a new structure that helped our organization. We innovated the organization. So I'm pretty [boldish] on different ways to use it. You can certainly use it for business model innovation. One of our clients is a bank that wanted to get more aggressive and be more innovative in its strategies especially how it went out and acquired new banks to grow.

And it applied the method very successfully to help it frame the problems correctly and see the opportunities for acquisition in a different light. So yes you definitely have to experiment though. What we found is that the more aggressive we got the more surprised we were at different ways to use systematic methods and we were pleasantly surprised with the results.

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Business Innovation Fundamentals

58 video lessons · 1981 viewers

Drew Boyd
Author

 
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  1. 1m 41s
    1. Welcome
      1m 22s
    2. Using the exercise files
      19s
  2. 21m 37s
    1. What is innovation? Introducing Systematic Inventive Thinking
      3m 21s
    2. The principle of function follows form
      4m 8s
    3. The closed-world principle
      4m 16s
    4. Characteristics of innovative products and services
      3m 51s
    5. Challenging the myth of thinking outside the box
      3m 11s
    6. Challenging the myth of serendipity
      2m 50s
  3. 11m 55s
    1. Functional fixedeness
      2m 26s
    2. The subtraction technique
      2m 59s
    3. Subtraction in action
      4m 8s
    4. Addressing common challenges
      2m 22s
  4. 10m 35s
    1. Structural fixedness
      2m 32s
    2. The division technique
      2m 43s
    3. Division in action
      3m 3s
    4. Addressing common challenges
      2m 17s
  5. 16m 25s
    1. The multiplication technique
      4m 24s
    2. Multiplication in action
      4m 39s
    3. Zooming in and zooming out
      4m 51s
    4. Addressing common challenges
      2m 31s
  6. 15m 45s
    1. The task-unification technique
      4m 19s
    2. Task unification in action
      4m 14s
    3. Using task unification for business issues
      4m 27s
    4. Addressing common challenges
      2m 45s
  7. 17m 49s
    1. The attribute dependency technique
      3m 32s
    2. Creating an attribute dependency matrix
      3m 37s
    3. Types of dependencies
      4m 12s
    4. Attribute dependency in action
      4m 31s
    5. Addressing common challenges
      1m 57s
  8. 27m 7s
    1. Running ideation workshops
      4m 13s
    2. Which technique to use
      3m 26s
    3. Creating new services and processes
      3m 17s
    4. Creating digital innovations
      5m 12s
    5. Involving customers
      5m 49s
    6. Evaluating ideas
      5m 10s
  9. 14m 48s
    1. Mastering innovative thinking
      3m 42s
    2. Building a pilot program
      3m 56s
    3. Addressing organizational challenges with innovation
      4m 3s
    4. Next steps
      3m 7s
  10. 52m 41s
    1. About Drew
      2m 9s
    2. What is innovation?
      51s
    3. What got Drew started in innovation?
      2m 15s
    4. On innovation as a skill
      1m 53s
    5. On innovation as part of your business
      1m 58s
    6. On resistance to innovation
      3m 31s
    7. On innovation's tainted image
      2m 34s
    8. Where do you apply innovation strategies?
      2m 31s
    9. Who should lead an innovation effort?
      3m 6s
    10. On favorite innovation experiences
      3m 51s
    11. On innovation vs. strategy
      3m 36s
    12. On working with innovation consultants
      3m 20s
    13. On trends in innovation
      3m 26s
    14. On innovation as competition
      2m 32s
    15. On innovative companies
      2m 43s
    16. On generating vs. executing ideas
      3m 2s
    17. Can you overdo innovation?
      2m 1s
    18. How do you start innovating?
      3m 44s
    19. On the most innovative products
      3m 38s

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