Friday, June 20, 2014

Questions for Ideas for Innovation - New Patterns of Innovation

Tested ways of framing the search for ideas exist.

One is competency based: It asks, How can we build on the capabilities and assets that already make us distinctive to enter new businesses and markets?

Another is customer focused: What does a close study of customers' behavior tell us about their tacit, unmet needs?

A third addresses changes in the business environment: If we follow "megatrends" or other shifts to their logical conclusion, what future business opportunities will become clear?

We'd like to propose a fourth approach. It complements the existing frameworks but focuses on opportunities generated by the explosion in digital information and tools. Simply put, our approach poses this question: How can we create value for customers using data and analytic tools we own or could have access to? Over the past five years, we've explored that question with a broad range of IBM clients. In the course of that work, we've seen advances in IT facilitate the hunt for new business value in five distinct -- but often overlapping -- patterns.... We believe that by examining them methodically, managers in most industries can conceive solid ideas for new businesses.

The New Patterns of Innovation. By: Parmar, Rashik, Mackenzie, Ian, Cohn, David, Gann, David, Harvard Business Review, 00178012, Jan/Feb2014, Vol. 92, Issue 1/2

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