Transcript
Innovation and creativityComing up with a great idea
Dr. Andrew Maxwell, May 2015
Agenda
Where do good ideas come from?
Six sources of innovative ideas
Creative problem solving
Developing the value proposition
What makes a good idea?
Where do good ideas come
from?
Seven approaches to identifying
an innovation opportunity
Design thinking
Technology trajectory
Gaps in current solutions
Value chain analysis
Building on technology platforms
Business model innovation
Future foresight
Five whys
Design thinking
Look at what currently happens and suggest way the process can be
improved.
Technology trajectory
Gaps in current solutions
Firm’s value chain analysis
FIRM INFRASTRUCTURE
HUMAN RESOURCE MANAGEMENT
TECHNOLOGY DEVELOPMENT
PROCUREMENT
INBOUND
LOGISTICS OPERATIONSOUTBOUNDLOGISTICS
MARKETING
AND SALES
AFTERSALESSERVICE
OPERATIONS OUTBOUND
LOGISTICS
M
A
R
G
I
N
AFTER
SALES
SERVICE
Value chain analysis in the book
publishing business
Author Publisher Wholesaler ReaderRetailerAgent
Sales groups
Packager
$0.50
Promotions
$0.05
$0.50
$1.00
$0.375
$5.50
$1.25
$0.375
$10.00$3.50
Five forces that shape competition
Building on innovation
Business model innovation
Refers to the creation, or reinvention, of a
business itself. Whereas innovation is typically
seen in the form of a new product or service
offering, a business model innovation results in
an entirely different type of company that
competes not only on the value proposition of its
offerings, but aligns its profit formula, resources
and processes to enhance that value proposition,
capture new market segments and alienate
competitors. Wikipedia
Business Model Innovation
Business Model Canvas
http://www.businessmodelgeneration.com/canvas/bmc
Why innovate your
business model? Increase value proposition, or attack new market
segments
Increase revenues, or reduce costs
Develop strategic partnerships, or enhance extant resources
Leverage supply chain, or distributor, relationships
Improve current activities, create new value for customers
Sell more to existing customers or find new customers
Five whys of innovation
Good ideas not invented by
humans?
Use Future Foresight to predict
market trends
2
Developing the value proposition
Persuading a customer, or user, to adopt your
innovation requires them to:
switch from using an existing product / service
adopt an entirely new product or service
Changing behaviours means motivating customers,
or users, to change – how do you motivate them?
2
The value proposition
canvas
What makes a good idea
Desirability[What do people desire]
Viability[What is financially
viable]
Feasibility[What is technologically &
organizationally feasible]
Does your idea have what it
takes?
Five steps to creative
problem solving
Understand problem you are trying to address – is this based on evidence or opinion?
Create multiple approaches to solving problem – use references, frameworks or ideation techniques
Develop framework for choosing between options – often based on viability, feasibility or desirability
Rank options against framework -identify opportunities for improvement
Identify ways to test most promising options -repeat process if necessary
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