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“…the business enterprise has two –
and only these two – basic functions:
marketing and innovation. Marketing
and innovati...
Hult International Business School
Strategic Innovation
Thomas Hall
http://brandworksglobal.com/
Radar Golf

Place a tiny electronic tag inside
golf balls to make them easy to find

4
Radar Golf

 Would you fund/launch this venture?
 What questions would you ask?

5
Assess Strength of…
New Venture Team
Opportunity
Industry
Business Model
Why Bother Innovating?
Extend Your Business
Take Customers Away

Classic Study - Involves a Coffee Cup
 What pay to buy the cup?

$ 3.12

 What would you sell yours...
Intense Interest
High

Purchase
Probability

8
7
6
5
4
3
2

Low

1
0
0

1
Not at all

2

3

4

5

6

New & Different

7

8...
What Strategy Has Highest Margin?
Higher Margin
What Makes a Great Idea?
3. Dramatic Difference
3. PROFIT

1. PROMISE

1. Overt Benefit

2. PRODUCT
(or Service)

2. Real Reason to Believe
14
Example - New Automobile Suspension
System

Feature

Benefit

- Dynamic Control

- Reduced Roll Over Risk

- RD 20 Wheel s...
Example of Numeric Benefit

“Cut Cold Sore
Healing Time
In Half”
Specific & Numeric
BE REAL
Tell the TRUTH &
do what you promise.
Common Sense
Expert Testimonial
Pedigree

15 Years Old
Exclusively Matured In
Sherry Oak Casks
Demonstration - Visualization
Sensory Feedback
What a Guarantee!
Dramatically Different
(Harvard Business Review)

370%
Greater chance of profitable
success for ideas that are
Extremely/V...
How Many Ideas Do We Need?
3,000 raw ideas result in
300 written up resulting in
125 projects resulting in
17 project development efforts
1.7 pr...
Where do we find innovative ideas?

28
What is Possible?

31
I cdnuolt blveiee that I cluod aulaclty
uesdnatnrd what I was rdanieg. The
phaonmneal pweor of the hmuan mnid
Aoccdrnig to...
Creativity
Edward De Bono





Western thinking
Lateral thinking
PO (Provocative Operation)
Six Hats

33
Creativity
Howard Gardner
 get infant-like
 three conditions
- expertise
- relevant domain
- backed by experts

34
35
Clones create Clones
What do you see when you
see a rose?

Beauty
Beauty
Beauty
36
Diversity at Work!
What do you see when you
see a rose?

Beauty
Vitamin
C Tea
Rose Water

Tango
37
How do you create a diverse environment?
HBDI

New Brain Research
http://live.wsj.com/video/what-is-your-cognitive-mode/61C1C2E3-248C-425F-999E-DBB23690C869.html?K...
Why do you need stimulus?
Where To Go On Vacation?
Related Stimulus
Unrelated Stimulus
Where can we find stimulus?
Traditional Ways…

Trends

Insights

Market

45
A Fourth Way…

Reapplying Technologies from
One Category to Another
Create the next new
dramatically different
Golf idea
Golf Stimulus
Trends

 Big data - All knowing
 Social media - Mobile
 Sustainability - Societal
 Consumer Power - Conn...
Borrowed Brilliance






Fedex
Ben and Jerry’s
Hult Intl Bus School
Emirates Airlines






General Electric
Sach...
Golf Stimulus
Trends

 Big data - All knowing
 Social media - Mobile
 Sustainability - Societal
 Consumer Power - Conn...
PO – Lateral Thinking







Change the normal order
Break a category ‘law”
Reapply a new technology
Eliminate a crit...
Golf Stimulus
Trends

 Big data - All knowing
 Social media - Mobile
 Sustainability - Societal
 Consumer Power - Conn...
Create the next new
dramatically different
Golf idea
How Does an Idea Become
an Opportunity?
Experience Hult 2013 - Prof Tom Hall
Experience Hult 2013 - Prof Tom Hall
Experience Hult 2013 - Prof Tom Hall
Experience Hult 2013 - Prof Tom Hall
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Experience Hult 2013 - Prof Tom Hall

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Experience Hult 2013 - Prof Tom Hall

  1. 1. “…the business enterprise has two – and only these two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.” - Peter Drucker
  2. 2. Hult International Business School Strategic Innovation Thomas Hall
  3. 3. http://brandworksglobal.com/
  4. 4. Radar Golf Place a tiny electronic tag inside golf balls to make them easy to find 4
  5. 5. Radar Golf  Would you fund/launch this venture?  What questions would you ask? 5
  6. 6. Assess Strength of… New Venture Team Opportunity Industry Business Model
  7. 7. Why Bother Innovating?
  8. 8. Extend Your Business
  9. 9. Take Customers Away Classic Study - Involves a Coffee Cup  What pay to buy the cup? $ 3.12  What would you sell yours for? $ 7.12 NET: Promise a BENEFIT advantage that is DOUBLE the Competition
  10. 10. Intense Interest High Purchase Probability 8 7 6 5 4 3 2 Low 1 0 0 1 Not at all 2 3 4 5 6 New & Different 7 8 Very 9
  11. 11. What Strategy Has Highest Margin?
  12. 12. Higher Margin
  13. 13. What Makes a Great Idea?
  14. 14. 3. Dramatic Difference 3. PROFIT 1. PROMISE 1. Overt Benefit 2. PRODUCT (or Service) 2. Real Reason to Believe 14
  15. 15. Example - New Automobile Suspension System Feature Benefit - Dynamic Control - Reduced Roll Over Risk - RD 20 Wheel stiffness - Improved Ride Comfort
  16. 16. Example of Numeric Benefit “Cut Cold Sore Healing Time In Half”
  17. 17. Specific & Numeric
  18. 18. BE REAL Tell the TRUTH & do what you promise.
  19. 19. Common Sense
  20. 20. Expert Testimonial
  21. 21. Pedigree 15 Years Old Exclusively Matured In Sherry Oak Casks
  22. 22. Demonstration - Visualization
  23. 23. Sensory Feedback
  24. 24. What a Guarantee!
  25. 25. Dramatically Different (Harvard Business Review) 370% Greater chance of profitable success for ideas that are Extremely/Very Unique
  26. 26. How Many Ideas Do We Need?
  27. 27. 3,000 raw ideas result in 300 written up resulting in 125 projects resulting in 17 project development efforts 1.7 projects introduced For 1.0 success... .03% Success Rate
  28. 28. Where do we find innovative ideas? 28
  29. 29. What is Possible? 31
  30. 30. I cdnuolt blveiee that I cluod aulaclty uesdnatnrd what I was rdanieg. The phaonmneal pweor of the hmuan mnid Aoccdrnig to rscheearch at Cmabrigde Uinervtisy, it deosn't mttaer in what oredr the ltteers in a word are, the olny iprmoatnt tihng is that the first and last ltteer be in the rghit pclae. The rset can be a taotl mses and you can still raed it wouthit a porbelm. This is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the word as a wlohe.. Amzanig huh? 32
  31. 31. Creativity Edward De Bono     Western thinking Lateral thinking PO (Provocative Operation) Six Hats 33
  32. 32. Creativity Howard Gardner  get infant-like  three conditions - expertise - relevant domain - backed by experts 34
  33. 33. 35
  34. 34. Clones create Clones What do you see when you see a rose? Beauty Beauty Beauty 36
  35. 35. Diversity at Work! What do you see when you see a rose? Beauty Vitamin C Tea Rose Water Tango 37
  36. 36. How do you create a diverse environment?
  37. 37. HBDI New Brain Research http://live.wsj.com/video/what-is-your-cognitive-mode/61C1C2E3-248C-425F-999E-DBB23690C869.html?KEYWORDS=new+brain+research#!61C1C2E3-248C-425F-999E-DBB23690C869
  38. 38. Why do you need stimulus?
  39. 39. Where To Go On Vacation?
  40. 40. Related Stimulus
  41. 41. Unrelated Stimulus
  42. 42. Where can we find stimulus?
  43. 43. Traditional Ways… Trends Insights Market 45
  44. 44. A Fourth Way… Reapplying Technologies from One Category to Another
  45. 45. Create the next new dramatically different Golf idea
  46. 46. Golf Stimulus Trends  Big data - All knowing  Social media - Mobile  Sustainability - Societal  Consumer Power - Connected Technology  Bluetooth strip on neck  Memory implants  Temporary Social Media  Prenatal DNA Sequencing Insights  I play to forget my troubles  I like to play with my women’s group  I want to drive longer than my friends  I want to win the bet, even 1 Euro Market  Non golf revenue at clubs growing  Spa and full restaurants at 19th hole  +18 % increase in golf holes played  Golf & poker days, ‘bogo’
  47. 47. Borrowed Brilliance     Fedex Ben and Jerry’s Hult Intl Bus School Emirates Airlines     General Electric Sachin ‘Little Master’ Boston Red Sox United Nations
  48. 48. Golf Stimulus Trends  Big data - All knowing  Social media - Mobile  Sustainability - Societal  Consumer Power - Connected Technology  Bluetooth strip on neck  Memory implants  Temporary Social Media  Prenatal DNA Sequencing Insights  I play to forget my troubles  I like to play with my women’s group  I want to drive longer than my friends  I want to win the bet, even 1 Euro Market  Non golf revenue at clubs growing  Spa and full restaurants at 19th hole  +18 % increase in golf holes played  Golf & poker days, ‘bogo’
  49. 49. PO – Lateral Thinking      Change the normal order Break a category ‘law” Reapply a new technology Eliminate a critical function Exaggerate a positive
  50. 50. Golf Stimulus Trends  Big data - All knowing  Social media - Mobile  Sustainability - Societal  Consumer Power - Connected Technology  Bluetooth strip on neck  Memory implants  Temporary Social Media  Prenatal DNA Sequencing Insights  I play to forget my troubles  I like to play with my women’s group  I want to drive longer than my friends  I want to win the bet, even 1 Euro Market  Non golf revenue at clubs growing  Spa and full restaurants at 19th hole  +18 % increase in golf holes played  Golf & poker days, ‘bogo’
  51. 51. Create the next new dramatically different Golf idea
  52. 52. How Does an Idea Become an Opportunity?

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