Did you know that you need to bet in 9 different types of innovation?
Get ready to make a list of your bets. Your strategy might be focused just on short-term goals. That’s not enough. That’s dangerous.
So, you consider that you are innovative just because you’ve improved a couple of processes. Did you know that is probably insufficient?
I would like you to consider Innovation as a portfolio of bets in many different areas. Together, those bets will ensure the sustainability of your organisation over time, because it will be gradually reinvented.
Reinvention is important because every single aspect of your organisation will die one day.
We need to plant new trees while harvesting the ones we’ve planted before. Sprouts are essential in many different areas.
Please take a look at examples below, and consider this as a model to identify your current bets. Are you covering all of these areas? Just one?
Business Model Innovation — New ways in which an organisation creates, delivers, and captures value. Suggested tools/methods: Business Model Canvas, Value Proposition Canvas, Design Sprint.
Service Innovation — Introduction of a new or significantly improved service that generates new customer value. Suggested tools/methods: Service Design, Design Thinking, Design Sprint
Disruptive Innovation — Innovations that displace established companies or industries. This the place for long-term bets, but you should start today. Suggest tools/methods: Foresight
Breakthrough innovation — innovations that generate a paradigm shift in technology or science, for example, transistors. Tools/methods: scientific method, R&D.
Organisational innovation — New ways in which people manage and share resources. (e.g. Agile, Design Sprints as a way of working, New Ways Of Working,…)
Outcome-Driven — The jobs the customer is trying to get done are used as input to the innovation process. Tools/methods: Design Thinking, Value Proposition Design.
Incremental Innovation — Small and continuous improvements to existing products, services and processes. Don’t focus just on efficiency. There’s a lot of space to think of improvements to the experience as well. Listen continuously to your customers and employees. When was the last time did you reviewed your operating model? Is it a bing-bang approach or a continuous one? Tools/methods: Kaizen, Lean, Kanban, Design Thinking, …
Product Innovation — Introduction of new or significantly improved product that generates new customer value. Tools/methods: Design Sprint, Lean-Startup, Value Proposition Design, Business Model Canvas, …. A few organisations are starting innovation labs/hubs or moving gradually from project management to product management.
Process Innovation — Implementation of a new and significantly improved production or delivery method. Tools/methods: Design Thinking, Service Design, …
All of this can be related to how well we know the problem and the domain. What’s the level of uncertainty, is it a new or adjacent market. But that’s the topic of another post.
Reinvention is important because every single aspect of your organisation will die one day. What’s your portfolio of bets?
Hugo de Sousa #InnovationDaily #CorporateInnovation
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