Join Stefan Michel for an in-depth discussion in this video The importance of service innovation, part of Service Innovation.
- Service innovation is important for several reasons.…For one, it can improve the lives of customers.…Innovations in health care, education,…financial systems, retailing, or entertainment…can make us healthier, smarter, safer, and happier.…Secondly, innovation is the key driver…for a firm's competitive advantage.…Companies who don't innovate are less profitable.…Their jobs are less secure,…and their existence is not sustainable.…And innovations can have a significant impact…on the society as a whole.…
Accesssible and affordable health care,…a reliable legal system, transportation,…and energy infrastructures are all a result…of service innovation.…In this video, I want to focus on the second point,…the importance of service innovation for firms.…As in sports, in order to win,…you need to play a good offense and a solid defense.…Translated into the domain of service innovation,…offense means that you are more innovative…than your competitors.…
In contrast, defense means that you understand…what your competitors are doing,…
Once you understand service innovation in its different forms, you can design and implement your own innovations. Each chapter combines real-world case studies with a methodological framework to help you become a better "idea hunter" for service innovation. After you identify an innovative model, you will learn how to align and execute your innovation by applying the customer star model and by embedding your innovation approach in your overall business strategy.
- What is service innovation?
- Innovating by relieving and enabling customers
- Linking attributes, benefits, and values
- Innovating value constellations
- Innovating outside your firm
- Designing around the customer's need with customer stars