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Implementation of Innovation – PART 02 (CHAPTER 08 (Exploring phase) (02…
Implementation of Innovation – PART 02
CHAPTER 05
(Discovery phase)
"Transformation takes place when a new worldview replaces an old one." – WILLIAM MILLER
Client: Rocomamas
Target Market: Millennials
CHAPTER 07
(Discovery phase) (Planning)
Explore internal and external resources for options.
Established companies should make use of new business opportunities on a strategic frontier to create a compelling future.
Identify the company's strategic frontiers.
A strategic frontier is an unexplored area of potential growth that lies between today's business and tomorrow's opportunities.
CHAPTER 08
(Exploring phase)
"Many companies take their industry's conditions as given and set strategy accordingly. Value innovators don't. No matter how the rest of the industry is faring, value innovators look for blockbuster ideas and quantum leaps in value."
– W. CHAN KIM AND RENEE MAUBORGNE
01
Plan the exploration route
Immersions and interactions
Exploratory vectors
02
Select exploration activities
Customer value activities
Market dynamics activities
Business model innovation activities
03
Discover value on the frontier
Gain new insights
Summery
One must escape “corporate gravity” through entrepreneurial and contrarian thinking.
Identifying new business opportunities should focus on value — what it is and how it can be delivered or enhanced.
Three pathways to explore value
01
Customer value
The goal is to identify customer needs
Interactions
: ValueProbes & specialists
Immersions
: Safaris, lifestyle experiences, and stake-outs
02
Market dynamics
Forces that that may have an impact on future markets
Interactions
: thought leader panels
Immersions
: Experiments, conferences, and guided journeys
03
Business model innovations
Interactions
: Benchmark calls
Immersions
: Benchmark visits
Exploration activities
Interactions
: Events set up for the exchange of information
Questions:
Answers:
Immersions
: Entering an environment in order to make observations.
CHAPTER 09
(Creating Phase)
01
Collecting the necessary tools
Insights gathered from the Exploring Phase
02
The creative process
Concept development
Summery
Turn the insights gained in the Exploring Phase into a new business opportunity
Identify the business opportunities that will exist in the future
Develop the most promising ideas
CHAPTER 10
(Mapping Phase)
Summery
Identifying important sectors:
customer value, market dynamics, and business model innovation
Each Sector:
Identify and place the action items, trends, discontinuities, and milestones that will play a role in the innovation