What is Innovation?
Innovation is the process of inventing or introducing something new that adds value for our stakeholders (customers, employees, or shareholders).
Innovation is a process of creation and execution that...
- Results in scalable, unique, differentiated solutions
- Targets existing and potential customers (both internal and external)
- Creates business value
- Is everyone’s responsibility
Ideas can address a multitude of improvements and enhancements to the existing services and products. Whether these ideas result in small or big changes, they are based on business needs and create business values promoting innovation.
Categories of Innovation
Innovation starts from existing customer/technology (inside the box) and goes to new customer/technology (out of the box).
The following is the high level flow from asking questions, generating ideas, to prioritizing, and implementing the ideas. The focus is more on Volume first and then Value.
- The Worst Idea Techniques
- Questioning Assumptions/20 Questions
- Problem Re-Definition
- The Wish Technique
In summary, innovation practices involve innovative teams asking provocative questions, seeking many point of views, learning from test, and moving the promising ideas forward to provide business value for the customer and organization.
Remember to ask open-ended questions. Happy Ideating!