Market Edge experience reveals five pillars that should be considered in order to create an Innovation Mindset throughout the organization.

    ME 5 Pillars of Innovation

    1. Customer R&Dsm: Build the organizational capability to gather actionable insights from the ‘field’ (through VOC and ethnographic research). Collaborate with channel partners and end-users to solve meaningful problems.
    2. Innovation Opportunities: Develop the capability to transform actionable customer insights into specific product or service concepts that address an ‘underserved’ job, constraint or desired outcome. Create the expectation that prioritized projects require an associated business case and compelling value proposition for potential customers, channel partners and your organization.
    3. Tools/Process: Ensure that a range of tools and processes enable various types of product innovation that suit the innovation type (incremental, disruptive and breakthrough). Create a clear process so project teams know when to use specific tools for a given project type and can recognize specific situations that require divergent or convergent thinking.
    4. Portfolio Assessment and Prioritization: Develop an effective NPD portfolio assessment process that leads to deliberate and transparent prioritization within a business and across businesses. Resource your priorities first so that key assets are not diluted.
    5. Senior Leadership Involvement: Ensure that business and functional leaders reinforce an Innovation Mindset that encourages innovation in products, service and business models. Leaders should ask key questions, set clear expectations and establish well-understood metrics for innovation and associated financial targets.

     

    David Anshen, Senior Consultant – Market Edge | © 2017

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