Innovation is not a one-size-fits-all process. Depending on your goals, resources, and context, you may need to adopt different innovation models to generate, test, and implement new ideas. But how do you combine innovation models with your strategy? In this article, you will learn about some common innovation models and how to align them with your strategic objectives.
Innovation models are frameworks or methods that guide you through the stages of innovation, from identifying problems and opportunities to scaling and diffusing solutions. These models can help structure the innovation process, reduce uncertainty and risk, and increase efficiency and effectiveness. Design thinking is a human-centered approach that focuses on empathizing with users, defining their needs, ideating solutions, prototyping and testing them, and iterating based on feedback. Lean startup is a customer-oriented approach that emphasizes building a minimum viable product (MVP), measuring its performance, learning from the data, and pivoting or persevering based on the results. Open innovation is a collaborative approach that leverages external sources of knowledge, ideas, and resources from partners, customers, suppliers, or competitors to create value and innovation. Blue ocean strategy is a market-oriented approach that seeks to create new demand and uncontested market space by offering a value proposition that surpasses existing competition.
Here’s a list of 25 INNOVATION METHODS that can help you kickstart innovation. Check them out below … 1. Design Thinking 2. Lean Startup 3. Agile Innovation 4. Open Innovation 5. Blue Ocean Strategy 6. TRIZ 7. SCAMPER 8. Six Thinking Hats 9. Biomimicry 10. Co-creation 11. Value Proposition Design 12. Business Model Canvas 13. Rapid Prototyping 14. Mind Mapping 15. Customer Journey Mapping 16. Scenario Planning 17. Innovation Games 18. Disney Method 19. Hackathons 20. Innovation Labs 21. Innovation Sprints 22. Frugal Innovation 23. Disruptive Innovation 24. Systems Thinking 25. The proven FORTH innovation method to kickstart innovation and double the effectiveness of the other methodologies mentioned above ?????. Contact me to learn more.
When it comes to innovation, there is no one-size-fits-all model. You must take into account your strategic objectives, the challenges you face, and the capabilities you possess in order to choose the most suitable model for your context. To ensure alignment between your strategy and model selection, consider the following questions: what is your strategic intent? What are your innovation challenges? And what are your innovation capabilities? Your answers will help you decide which model or combination of models is best for you. For instance, if you need to create new products for new customers in a highly uncertain environment, design thinking and lean startup models may be beneficial. On the other hand, if you’re aiming to improve existing products for existing customers in a low-uncertainty setting, open innovation and blue ocean strategy models may be more appropriate.
ALIGNING INNOVATION TO STRATEGY IS ESSENTIAL TO WIN BUY-IN from top management. The BEST PRACTICE in the proven FORTH INNOVATION METHOD, is to draft with the top management and project leader before the start a so-called: INNOVATION ASSIGNMENT. How? When you answer together with all the stakeholders the following questions you get a clear picture of what innovation has got to deliver at the end: 1. Why do we need to innovate? 2. What are we looking for? 3. Who is the target group? 4. When do we want to launch it? 5. Where: in which countries? Or regions? 6. Which (financial) criteria the new offering has to meet? In this way everyone has clear expectations of the deliverables of the innovation expedition.
Sometimes, you may need to employ multiple innovation models to address different aspects of your innovation process. For instance, design thinking for generating ideas, lean startup for testing them, and open innovation for scaling them. Or you could use blue ocean strategy to identify new market spaces, design thinking to create value propositions, and lean startup to validate them. Combining these models is not a straightforward task; you should be aware of the potential benefits and challenges of doing so. To make the most of the models that suit your context, it's essential to be clear about your innovation goals and criteria, flexible and adaptable in switching between models or using them simultaneously, and collaborative and communicative with stakeholders. By following these tips, you can enhance your innovation performance and outcomes.
APPLY THE 3 HORIZONS MODEL As innovation facilitator I recommend you to use the 3 HORIZONS MODEL of McKinsey to guide your innovation strategy. In Horizon 1, focus on optimizing your current products and processes for incremental improvements, cost reduction, and efficiency. In Horizon 2, allocate resources towards developing new products that build on your existing strengths but address emerging customer needs. In Horizon 3, explore disruptive and breakthrough innovations that may have non-traditional markets and business models. Balance your investments across these three horizons to ensure a steady flow of incremental improvements, growth opportunities, and breakthrough innovations.