Innovation comes in four flavors. Product innovation, operational innovation. Customer experience innovation, and business model innovation. Corporate innovation isn’t easy. Stefan Petzov, an innovation professional at Swisscom. A Crowd Companies member. Outlined the many challenges that innovation programs inherently face. In particular, the first challenge he lists out is that companies struggle because “the expected outcome is not clearly defined.” Clarity is paramount. One way to solve this top-level challenge is to ensure your company. Therefore, Innovation partners have a standard nomenclature for how innovation is used.
We looked at structuring
This language around products. Business units, or functions, but found it would be most helpful to structure it around customer benefit. First, some qualifications on the scope of this discussion. The following is focused on how Switzerland Number Data innovation is done within a company. Not about external activities like partnerships, investment, acquisition, accelerators, and more. In a recent post, we identified the ten types of innovation programs. Which goes into a bit more detail. Corporate Innovation Impacts Customers in Four Ways. Innovation Categories Description Examples Benefits to Customers.
New products are developed based on the product roadmap
Nike evolved beyond shoes to Nike Plus, expanding its offerings. Also, new product lines like Nestle’s launch of Nespresso grew Czech Republic Phone Number List a loyal customer base. Continued improvements on product features and benefits, as well as new product lines. Operational Innovation Often led by operations. New processes increase productivity and efficiency. Reduce costs associated with employees, partners. And the supply chain. In the ’70s, Japanese automakers like Toyota. Honda increased the efficiency of auto production and reduced overall costs through kaizen. Products emerge faster, with more consistency, and often at a lower cost.