The customer is always right. The timeless aphorism holds truer now than it ever did before, as the customer truly drives the ever-changing trends and shapes the industry, with companies battling each other to stay relevant in the hearts and minds of their devoted audience.
All successful companies must eventually answer the same basic question: How do you establish new growth strategies and business opportunities from within your organization? The new book, The Art of Opportunity was written to help your business answer that question. The concepts were cultivated through more than 20 years of academic research and experience, providing organizations with a detailed blueprint for how to grow, innovate, and transform.
Leading CEOs worldwide expect major changes to their company’s business model until 2020. As a consequence, organizations are currently about to realize that, today, business model innovation has become as important as technological innovation. However, developing new and viable business models still represents a serious challenge for large incumbent firms despite their resources, know-how, and key technologies. This article provides 10 guidelines for mastering business model innovation challenges in established companies.
Clear separation of top ideas from mediocre and weak ideas is essential, before financial and other resources are allocated. The Hyperselect method provides a new, sound and improved way to fulfill this task. Moreover it reveals, that hyperbolas might be “the better matrix” in quite a lot of methods for prioritization and beyond.
Almost every innovation manager can recount stories of great ideas, concepts and products that people love and yet they’re never implemented. The business case stacks up and is technically feasible, but finding sponsorship and a budget seems to be impossible. As innovators, we’re often subject to ongoing commercial restrictions. The fastest way to get ideas off the ground is to ensure they’re aligned to the C-Suite agenda in both the short and longer term.
Your business model should answer two important questions: (1) What is your value proposition and (2) how are you organizing your company and your ecosystem to create this value. The 8 building blocks of the business model template help you to visualize your answers and think strategically about your business model.
It's time for innovation leaders to get out of 'zombie mode' and claim a strategic position in their organizations.
Just as television shows age, so do businesses. It is important that managers of these businesses not fall into the same trap as many television executives, better known as "jumping the shark."
For companies desiring organic growth and whose innovation efforts are not yielding the results demanded, using a Strategic Innovation approach using structured tools and methods will produce higher value products, services, systems, and environments that will resonate deeper with people to encourage them to become loyal customers. This approach delivers better solutions that are feasible to build, viable for profit, and desirable to the user.
