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    ENGG7902 Innovation

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    Alex Anchivilca Baltazar
    This document discusses innovation and different types of innovation. It defines innovation as the creation of a viable new offering and distinguishes it from invention, which is the creation of a new product or process. It then outlines 10 types of innovation: product, performance, product systems, profit model, network, structure, process, service, channel, and brand. For each type, it provides an example question to consider how a company innovates in that area. It emphasizes going beyond just product innovations and integrating multiple types of innovation to create enduring competitive advantages and market reinvention.

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    © All Rights Reserved
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    ENGG7902 Innovation

    Uploaded by

    Alex Anchivilca Baltazar
    86 views8 pages
    This document discusses innovation and different types of innovation. It defines innovation as the creation of a viable new offering and distinguishes it from invention, which is the creation of a new product or process. It then outlines 10 types of innovation: product, performance, product systems, profit model, network, structure, process, service, channel, and brand. For each type, it provides an example question to consider how a company innovates in that area. It emphasizes going beyond just product innovations and integrating multiple types of innovation to create enduring competitive advantages and market reinvention.

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    ENGG7902_Innovation

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    This document discusses innovation and different types of innovation. It defines innovation as the creation of a viable new offering and distinguishes it from invention, which is the creation of a new product or process. It then outlines 10 types of innovation: product, performance, product systems, profit model, network, structure, process, service, channel, and brand. For each type, it provides an example question to consider how a company innovates in that area. It emphasizes going beyond just product innovations and integrating multiple types of innovation to create enduring competitive advantages and market reinvention.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    86 views8 pages

    ENGG7902 Innovation

    Uploaded by

    Alex Anchivilca Baltazar
    This document discusses innovation and different types of innovation. It defines innovation as the creation of a viable new offering and distinguishes it from invention, which is the creation of a new product or process. It then outlines 10 types of innovation: product, performance, product systems, profit model, network, structure, process, service, channel, and brand. For each type, it provides an example question to consider how a company innovates in that area. It emphasizes going beyond just product innovations and integrating multiple types of innovation to create enduring competitive advantages and market reinvention.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 8

    ENGG7902

    Innovation

    CRICOS code 00025B


    What is innovation

    Innovation Invention

    Innovation is the creation of a viable new offering. Invention is the creation of a


    new product or process
    It can involve invention but most innovations are
    based on previous advances.

    Innovations don’t have to be new to the world, just


    to a market or industry.

    Innovations have to make money.

    CRICOS code 00025B


    What is innovation?

    Commercial
    Customer
    partnership
    focus
    s

    Technical Business
    knowledge model
    Innovation

    CRICOS code 00025B


    Doblin’s Ten Types of Innovation

    Product Product
    ce System
    Performan
    ss S er
    ce vice
    Pro

    e Ch
    ctu r a nn
    S tru el
    rk

    Br
    o
    tw

    an
    Ne

    d
    el

    En
    Cu agem
    od

    g
    s to e
    M

    me n t
    fit
    Pro

    r
    CRICOS code 00025B
    Innovations in Offerings
    • Address the value, features & quality of a
    Product companies products
    • Does the product produce superior offerings,
    Performance unique features, style & functionality? Are they
    easier to use?

    • How individual products and services connect or


    Product bundle together to create systems or ecosystems
    • Does the company (or 3rd parties) make multiple
    Systems products that connect in unique ways? Can they be
    purchased as packages?

    CRICOS code 00025B


    Innovations in Configuration
    Profit • How you make money
    • Does the company make $$$ in ways that don’t match industry norms? Big

    Model differences in margins or costs? Users vs who pays for it? Quick cash?

    Network
    • How you connect with others to create value
    • Does the company work with others to develop products? Do they help others
    with their products? Collaborate across the supply chain?

    Structure
    • How you organise and align your talent and assets
    • Does the company have an unusual org structure? Are they known for
    attracting the best talent? Do they use their assets differently?

    Process
    • How you use signature or superior methods to do your work
    • What is the company uniquely skilled at doing? Are the operating costs much
    lower?

    CRICOS code 00025B


    Innovation in Experience
    • How do you support and amplify the value of your offerings
    Service • Do customers rave about their interactions with the company? Do they provide unique or
    interesting guarantees? Are there social groups that help other customers?

    • How you deliver your offerings to customers and users


    Channel • Do they deliver their products in unique and strange ways? Do they use different channels
    in unique ways? Do other players help sell or deliver the offerings?

    • How you represent your offerings and business


    Brand • Does the company have a unique or vivid identity? Is the company’s brand used by others?
    Do customers see themselves as part of a distinct community?

    Customer • How you foster compelling interactions


    • Does the company takes something challenging and make it easy to understand? Do the

    Engagement offerings confer a unique identity or sense of status? Do customers talk about how the
    product has become part of their lives?

    CRICOS code 00025B


    Go Beyond Products / Strength in Numbers
    Innovations in offerings are often considered the sum total of innovation.

    Product changes are the easiest to implement and unfortunately the easiest to copy

    It’s not that product performance is unimportant, rather you need multiple innovation types to create
    competitive advantages that endure

    On average, mediocre innovators use <2 types and top innovators use >3 types. Using 5 or more types,
    integrated with care almost always sees you reinventing a market

    CRICOS code 00025B

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