Most of us thought electric drone delivery vehicles were totally new, transformational innovations. Turns out, they are old news. Here's another example of how a curious exploration of bygone innovations in our past can point to new opportunities that could create value today. Introducing the Milk Float. Invented almost 100 years ago by our English …
Continue reading "Milking The Past May Be The Best Medicine For The Future (Part 3 of 3)"
In Part 1, I discussed how we can discover future sources of value by looking into the past. Resurrecting products and services that became extinct decades ago may pay dividends today. Part 1 focused on the revival of physician house calls. In Part 2, we'll look at a different industry as another example of milking …
Continue reading "Milking The Past May Be The Best Medicine For The Future (Part 2 of 3)"
Spotting future signals of potential disruptions on some future horizon is challenging. We can't define what we can't see, and we can't see the future, but we can look at the past to predict what may lie ahead. Take the idea of "redefining convenience" for example. Everyone is talking about it as a trend, but …
Continue reading "Milking The Past May Be The Best Medicine For The Future (Part 1 of 3)"
In most companies, there are not enough resources to infuse design thinking and knowledge of the innovation process through enough of the organization to create a culture of innovation. So how do you create a culture of innovation with limited resources? Two years ago we established an Innovation Coaches program that is becoming a game …
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When we understand that there are four types of innovation, we can better manage the company's innovation portfolio. Innovation strategy should employ a mix of these different types of innovation. Focusing on just one eventually spells disaster. How do you optimize the mix to best fit your company's needs? The answer is - "it depends". …
The speed of technological advances and the swiftly changing consumer behavior landscape makes for a volatile cocktail. Disruption is a game of "when", not "if". It's not a question of which organization has the most cash, but which one has the most courage. Here are FOUR outcomes to disruptions. Two will save your company. Two …
Continue reading "Four Disruption Scenarios You Will Experience Soon"
Innovation leaders are always scanning the horizon for signals of potential disruptions and opportunities. In reality, it's more like looking at blips on a sonar screen. These signals have no definition, no form. All we know is something is out there. Is it an impending disruption or merely a distraction? Is it moving toward us, …
According to Morgan Stanley, the following are the 5 Big Disruptive Trends investors should be watching. But are they really disruptive? 1. Machine Learning 2. Autonomous Vehicles 3. Augmented Reality 4. Blockchain 5. CRISPR Are these really disruptive trends? I say no. I argue, these are CONDITIONS. Are autonomous vehicles a disruption? We don’t …
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Why collaborate? To get the best outcome possible When collaboration is needed When the way forward is not clear When you have limited experience with the subject matter or area of the business When you have little experience how to get the work done When you have little experience with the stakeholder audience Which one …
My previous post introduced the Understand Statement: a tightly compact way to explain why your organization should do what you're proposing it should. However, in many companies, the support often times goes to the most dynamic presenter with what sounds like a very compelling idea. Here's why that's a poor approach. If you are a …
Continue reading "Investing in Innovation Is NOT About Ideas"
My previous post was about the A.R.T. of Understanding. In this post, we'll explore an effective way to move from the Understand Stage of the innovation process to the Ideation Stage. THE UNDERSTAND STATEMENT This statement takes the insights gained in the Understand Stage and codifies it. It's simple in concept, but requires heads-down, mental …
Continue reading "The Best Way to Move From Understand to Ideation"
For many companies, the first stage of the innovation process is the least understood and few of us practice it with any discipline. If you are thinking of establishing an innovation process for your organization, or it's a relatively new activity, the first step is critical: make sure everyone understands how to apply the Understand …
