Tag Archives: Innovation

What is the purpose of innovation?

Jorge in Innovation

This question may be similar to the question “what is innovation?“, but it isn’t.

Why innovate?

Before answering, lets consider what innovation is. Two weeks ago I argued that because innovation means different things to different groups, that you should come up with your own definition of what innovation is.

For me, innovation is ideas transformed into value. I don’t get into whether it’s radical, incremental, disruptive or any other buzzword you can come up with because it makes it more complex for those who are not in the know.…

How can a business differentiate without changing the product itself?

Jorge in competition, Innovation, Question-To-Innovate, Questions, Strategy

How can a business differentiate without changing the product itself?

Via Quora: What can you change in a business that is strong enough to differentiate the business from all competitors, but without touching the product itself?

For example,

GILT, changed PRICE but didn’t change product, and opened a niche for discounted designer clothes.
Phones International, changed the DISTRIBUTION MODEL of the mobile phone industry but it didn’t change the product (cell phones), and opened a niche for ‘single brand distribution.
The Book People, changed the TARGET CUSTOMERS, but didn’t change the product (books), and opened a niche selling books to corporate clients.
Adwords, changed the BUSINESS MODEL, but didn’t change the product (display ads), and opened a niche for ‘performance advertising’.

These are significant differences that not only differentiate the companies from all the others, but disrupted the market in some way.

What other variables can you change in a business in this way?

How are these variables called?

Where can I learn more about this?…

Must read innovation posts of the week: Mintzberg on What’s Wrong with Management

Jorge in Must reads of the week

If you like these links, check out all the previous “Innovation Must Reads of the Week“. And don’t forget to Follow @jorgebarba

How does your company celebrate innovation?

Jorge in Innovation, Questions

37 Signals is an Innovation Insurgent of the highest order. Jason Fried, one of its founders, wrote a book on how to do business unconventionally a few years ago. If you haven’t read it, read it.

Anyway, for me, their book is a celebration of innovation. Contrarian, and smart, to the bone. …

Create your own definition of innovation

Jorge in Innovation

As part of my auditing process, one of the key questions I ask is: what was the most recent innovation in your industry?

Depending on how this question is answered, it will tell me a few things:

How this company both defines and perceives innovation
If they are focused on innovation
If they are keeping tabs on their respective industry

That question is followed up with a similar but less obvious question: who is the most loved in your industry and why?. This one tells me if they even care about delighting their customers. But it can also tell me if they associate customer loyalty with innovation.…

You are only as great as the questions you ask

Jorge in Innovation, Leadership

Leaders lead through questions.

Farnam Street published a post about the art and science of asking better questions. The post includes some good tips on how about asking great questions, so be sure to check it out after you are done here.

Anyway, this got me thinking……

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