Innovation Radar
What is innovation? Exactly? Although innovation is curently amongst the top-issues of many corporations, many executives have a wrong, too narrow view of it. They see innovation as synonymous with New Product Development or Traditional R&D.
To clarify this error, Professors Mohanbir Sawhney, Robert C. Wolcott and Inigo Arroniz in the MIT Sloan Management Review (Spring 2006) introduce their Innovation Radar. The radar features four major dimensions that serve as business anchors:
- Offerings a company creates (WHAT).
- Customers it serves (WHO).
- Processes it employs (HOW).
- Points of Presence it uses to take its offerings to market (WHERE).
Spread over these 4 main dimensions, companies can innovate their businesses far broader in scope than product or technological innovation: a company can actually innovate along any of 12 different dimensions, including the main 4 ones I already mentioned:
- Offerings.
- Platform.
- Solutions.
- Customers.
- Customer experience.
- Value capture.
- Processes.
- Organization.
- Supply chain.
- Presence.
- Networking.
- Brand.
The innovation radar can help to broaden the innovation focus in companies and to show that innovation is about creating new value, not about creating new products.
2 Comments:
I think among your 12 mentioned dimensions, BRAND is one of the most critical element. The value of the brand helps to enhance the other dimensions like offering, value capture, and presence. Actually, a brand name even helps to identify the feasibility factor behind the success of a product. It allows to cushion and problem with the technological delivery to a certain extent as well. Example: If Apple goofs up in its new iPhone, it can still get some cushion off the brand name and deliver a patch without loosing too much of presence. It gives the leverage.
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