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Types of innovation

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Type of Innovation - a program and workshop for organizations

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Types of innovation

  1. 1. Ten Types of Innovation Rey Lugtu www.reylugtu.com Credits:
  2. 2. Profit Model Network Structure Process Product Performance Product System Service Channel Brand Customer Engagement CONFIGURATION EXPERIENCEOFFERING Ten Types of Innovation
  3. 3. The way in which you make money From video rental to subscription
  4. 4. The way in which you make money Selling the enduring part at low cost, recurring disposable parts at a premium
  5. 5. Ad-Supported Auction Bundled Pricing Cost Leadership Disaggregated Pricing Financing Flexible Pricing Float Forced Scarcity Freemium Licensing Metered use Microtransactions Risk Sharing Scaled Transactions Subscription Switchboard User-Defined Premium
  6. 6. Connections with others to create value Working with renowned external designers to differentiate itself
  7. 7. Connections with others to create value
  8. 8. Alliances Collaboration Complimentary Partnering Consolidation Coopetition Franchising Merger/Acquisition Open Innovation Secondary Markets Supply Chain Integration
  9. 9. Alignment of your talent and assets Pioneered the “Community Owned Companies” model, Local artisan owned and ran the companies that supplied arts and handicrafts to Fabindia
  10. 10. Alignment of your talent and assets
  11. 11. Asset Standardization Competency Center Corporate University Decentralized Management Incentive Systems IT Integration Knowledge Management Organizational Design Outsourcing
  12. 12. Signature or superior methods for doing your work Zara’s “fast fashion“ strategy moves its clothing from sketch to shelf in record time
  13. 13. Signature or superior methods for doing your work Ikea’s flat-pack furniture with no variation by region or country
  14. 14. Signature or superior methods for doing your work
  15. 15. Crowdsourcing Flexible Manufacturing Intellectual Property Lean Production Localization Logistics System On-Demand Production Predictive Analytics Process Automation Process Efficiency Process Standardization Strategic Design
  16. 16. Distinguishing features and functionality OXO Good Grips cost a premium but its “universal design” has a loyal following
  17. 17. Added Functionality Conservation Customization Ease of Use Engaging Functionality Environmental Sensitivity Feature Aggregation Focus Performance Simplification Safety Styling Superior Product
  18. 18. Complementary products and services Nike+ parlayed shoes, sensors, apps and devices into a sport lifestyle suite
  19. 19. Complementary products and services
  20. 20. Complements Extensions/Plug-Ins Integrated Offering Modular Systems Product Bundling Product/Service Platforms
  21. 21. Support and enhancements that Surround your offerings Free lifetime pressing at any of its locations in the US
  22. 22. Added Value Concierge Guarantee Lease or Loan Loyalty Programs Personalized Service Self-Service Superior Service Supplementary Service Total Experience Management Try before Your Buy User Communities
  23. 23. How your offerings are delivered to customers and users Nespresso locks in customers with its useful members only club
  24. 24. How your offerings are delivered to customers and users
  25. 25. Context Specific Cross-Selling Diversification Experience Center Flagship Store Go Direct Indirect Distribution Multi Level Marketing Non-Traditional Channels On-Demand Pop-up Presence
  26. 26. Representation of your offerings and business Virgin extends its brand into sectors ranging from soft drinks to space travel
  27. 27. Brand Extension Brand Leverage Certification Co-Branding Component Branding Private Label Transparency Value Alignment
  28. 28. Distinctive interactions you foster Apple’s WorldWide Developers Conference Allows partners to play with and provide feedback
  29. 29. Autonomy and Authority Community and Belonging Curation Experience Experience Automation Experience Enabling Experience Simplification Mastery Personalization Status and Recognition Whimsy and Personality
  30. 30. How do you apply these? Understand the centre of gravity in your industry so you can double down and do something differently!
  31. 31. Profit Model Network Structure Process Product Performance Product System Service Channel Brand Customer Engagement CONFIGURATION EXPERIENCEOFFERING Three Innovation Shifts
  32. 32. Profit Model Network Structure Process Product Performance Product System Service Channel Brand Customer Engagement CONFIGURATION EXPERIENCEOFFERING Business Model Shift
  33. 33. Profit Model Network Structure Process Product Performance Product System Service Channel Brand Customer Engagement CONFIGURATION EXPERIENCEOFFERING Platform Shift
  34. 34. Profit Model Network Structure Process Product Performance Product System Service Channel Brand Customer Engagement CONFIGURATION EXPERIENCEOFFERING Customer Experience Shift
  35. 35. Three Innovation Shifts Understand the centre of gravity in your industry so you can double down and do something differently!
  36. 36. Innovation is NOT optional Innovation is a discipline
  37. 37. Thank you

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