Competition can be fierce in the efficiency industry. The most successful companies find creative and innovative ways to stand out from the crowd, effectively guarding them against competition. In a market that is constantly evolving, innovation is a must.
So what’s the best way to approach innovation? According to Larry Keeley, Helen Walters, Ryan Pikkel, and Brian Quinn, in their book Ten Types of Innovation: The Discipline of Building Breakthroughs, a simple brainstorming session won’t cut it. In order to be truly innovative in a way that is not replicable by competitors, the authors suggest testing ideas against their list of ten “innovation types,” which include things like “platform model,” “structure,” “product performance,” “channel,” and “brand.” The best ideas should utilize at least five of the ten types of innovation. In addition, a thorough “industry innovation analysis” should be performed before moving forward with any new idea.
If you’re thinking about rolling out a new product or service, I highly recommend picking up a copy of this book and testing out this innovation method.
Here’s a summary from Amazon Books:
“Using a list of more than 2,000 successful innovations, including Cirque du Soleil, early IBM mainframes, the Ford Model-T, and many more, the authors applied a proprietary algorithm and determined ten meaningful groupings—the Ten Types of Innovation—that provided insight into innovation. The Ten Types of Innovation explores these insights to diagnose patterns of innovation within industries, to identify innovation opportunities, and to evaluate how firms are performing against competitors. The framework has proven to be one of the most enduring and useful ways to start thinking about transformation.
- Details how you can use these innovation principles to bring about meaningful—and sustainable—growth within your organization
- Author Larry Keeley is a world renowned speaker, innovation consultant, and president and co-founder of Doblin, the innovation practice of Monitor Group; BusinessWeek named Keeley one of seven Innovation Gurus who are changing the field
“The Ten Types of Innovation concept has influenced thousands of executives and companies around the world since its discovery in 1998. The Ten Types of Innovation is the first book explaining how to implement it.”
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