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.
This course qualifies for 3 Category A professional development units (PDUs) through lynda.com, PMI Registered Education Provider #4101.
Innovation is the process of taking an idea and putting it into practice. Creativity, on the other hand, is what you do in your head to generate the idea, an idea that meets three criteria: An innovative idea must be new, useful, and surprising. New means that no one else has done it before. Useful means that it delivers some new value for you or your customers. And surprising, it means that the market will be delighted with your latest innovation.
Most people think the way you create an idea is to start with a well-formed problem and then brainstorm a solution to it. What if you turned that around 180 degrees? It sounds counterintuitive, but you really can innovate by starting with the solution and then work backwards to the problem. In the systematic inventive thinking method, we call it the Function Follows Form Principle. Here's how it works. First, you start with an existing situation.
That situation can be a product, it can be a service, or perhaps a process. You take that item, and you make a list of its components and attributes. Then you apply one of the five thinking tools. They're called subtraction, division, multiplication, task unification, and attribute dependency. I know some of these sound mathematical, but they're really not, as you'll see when you start applying them. When you apply one of the five tools to the existing situation, you artificially change it.
It morphs into something that, at first, might seem really weird or absurd. That's perfectly normal. In fact, as you get more comfortable with this method, you'll come to expect it. We consider the strange thing a virtual product. It doesn't really exist except in one place, right up here in your mind. This step is really important. Take your time. You have to mentally define and visualize the virtual product.
I like to close my eyes and mentally see an image of the item once it's been manipulated. As you practice the method more, this will get a lot easier. At this stage, you ask yourself two questions, and you do it in this specific order. The first question is, "Should we do it?" Does this new configuration create any advantage or solve some problem? Is there a target audience who would find this beneficial? Does it deliver an unmet need? We call this step the market filter.
It's a filter because if you cannot identify even the tiniest benefit at this step, you throw the concept out the window. You don't waste any more time on it. This is very different than other ideation techniques like brainstorming, where there is no bad idea. Trust me, there are plenty of bad ideas, and if you realize one here, you eject it and go back and reapply the tool to generate a different concept. If you do identify some benefit, then and only then do you ask yourself the second question, "Can we do it?" Do we have the technical know-how to make this concept? Is it feasible? Do we have the intellectual property? Are there regulatory or legal barriers? This step is the implementation filter because once again, if you have a great idea in theory but no way to make it, don't waste any more time on it.
If you pass through both filters, you move on to the adaptation step, where you allow yourself some degree of freedom to modify the concept to make it even stronger and deliver even more value. You may have to iterate through these steps several times before you end up with what I would consider an idea. With each of the five techniques taught in this course, you will apply the principle of function follows form.
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.