IT Management Slideshow: How To InnovateBy Dennis McCafferty | Posted 07-02-2010
How To Innovate
Isolate Drivers of User Value Function, look, adaptability, price - or all of the above. Focus on triggering a decision to buy versus passive interest.
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Define Good Enough A product with more positives than negatives will sell. Focus on this goal before refining for enhanced features and niche crowds.
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Understand Your Delivery Chain Separate innovative, value-additive suppliers from passive ones. Focus on suppliers who make your products better.
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Isolate Delivery Chain Pain Points Underperforming suppliers may not improve. Find an alternative.
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Align Viewpoints Within Your Organization Evaluate team for ability/inclination to increase product potential. Pinpoint inhibitors, plan to minimize their impact.
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Kill Assumptions Base evaluation of success or failure upon known facts, not subjective interpretation.
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Isolate Intellectual Property Break products into components, so intellectual property behind each can be recombined into new products.
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Identify New Markets for IP Coke is not marketed strictly as soda - think Coke Slurpees for 7-Eleven and A&W Root Beer candy for Brach.
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Don't Confuse Invention for Innovation A highly inventive product won't necessarily move markets. A highly innovative one will. Know your market.
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"Cool" is Not Key Cost, availability, consistency and ability to integrate within consumers' lives matter much more.