ABC of Innovation and Transformation

What type of Innovation Wins in Crisis: Lessons of Success and Failure

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Optimal approach to Innovation depends on a context.

Where is your business? 

1) Is it relatively stable and is prime for incremental innovation;

2) is it struggling so you need to pivot, or
3) The situation is dare and it can truly use a game changer.

1) Why innovate if things are going well?

  • Because it is easier so even Incremental will work!

    • 2) How to Pivot?

    • Note - do not change a fundamental business model! High volume low margin vs low volume high margin - hard to shift. They have different customer experience models and will not work if combined in one company.
    • Change technology to reinforce a business model

      • 3) Integrated transformation - game changer

      • Top down vision + Bottom up knowledge and innovation empowerment
      • Core process redesign

        • Hot Topic - Innovation in High Tech industry

        • Disruptive is common, game changer is aspirational
        • Do not buy Ferrari to go to the grocery store!
        • Lessons from Blackberry - lost touch with customer needs.
        • Lessons from Nortel - game changer is hard to capture - to gain both large technology change AND large market share.
          • ...more
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          ABC of Innovation and TransformationBy Mila Pirogov