How to hit the innovation sweet spot and why it’s not all that straightforward

How to hit the innovation sweet spot and why it’s not all that straightforward

To hit the innovation sweet spot, innovators must meet four equally important criteria: desirability, viability, feasibility, and integrity. By meeting these criteria, innovators can avoid potential disasters and thrive. Examples of products that fall short in one or more criteria include water bottles and pregnancy tests. For example, while water bottles are highly desirable and viable, their lack of integrity could cause regulatory consequences. Similarly, while at-home pregnancy tests improve healthcare opportunities, they create a negative impact due to their disposable nature. To hit the innovation sweet spot, innovators must separate the criteria and create a clear strategy to improve on any shortcomings without impacting the other criteria.

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Innovation Capital: How We Can Win the Resources Needed to Turn Ideas Into Innovations

Innovation capital is key to overcoming the innovator's paradox of needing resources to test and validate ideas but not being able to get resources without testing. Building a reputation for successful innovation can accrue innovation capital through human, social, and reputation capital. Six strategies focus on amplifiers including comparison, storytelling, signaling, social pressure, committing, and materializing can help to gain visibility, attention, and credibility.

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Failure must always be an option

Failure is essential to innovation, but how can organizations accept and learn from it? Failure must be contained and predictable, part of a learning process, and not a terminal destination.

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What Is The Service Innovation Process?

Service Innovation is an important concept in the business industry that can provide a competitive edge. It involves improving and creating new services to better serve customers.

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