Tag Archives: value

Eight I’s of Infinite Innovation – Revisited

Some authors talk about successful innovation being the sum of idea plus execution, others talk about the importance of insight and its role in driving the creation of ideas that will be meaningful to customers, and even fewer about the role of inspiration in uncovering potential insight. But innovation is all about value and each of the definitions, frameworks, and models out there and only tell part of the story of successful innovation.

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Embracing Quick Wins and Quick Losses

When moving a new product or service through the development cycle, there are generally four outcomes a New Product Development (NPD) team can expect. Two of these outcomes are especially good – although which ones they are might surprise you. It may seem counterintuitive, but one of the positive outcomes does not result in revenue – or even a product – and organizations must learn to embrace this notion.

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Lean Innovation Series – Introduction

I've started working with a local healthcare insurance company in a role focused on driving improvement and innovation in its membership and billing operations. The company has a big focus on LEAN throughout the company and always has some sort of value stream mapping (VSM) or rapid process improvement workshop (RPIW) going on through the Kaizen Promotion Office (KPO). Despite this only being my second week on the job, I have already been involved in the company's LEAN efforts.

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Are you Leaving Money on the Table with Stage-Gate®?

Most new product development and Stage-Gate® processes do not manage value and pricing with intention. Most firms rely on legacy pricing levels, competitive pricing levels or their internal cost information to price their innovation opportunities in the Stage-Gate® process. That might explain why a vast majority of new product and service launches are failures.

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How Open Innovation Increases Consumer Value

Fast Company magazine recently named Nike the most innovative company of 2013, largely based upon a revolutionary new fitness monitoring bracelet called the FuelBand. The FuelBand has helped transform Nike from an apparel manufacturer to a technology, data and services company integrated into their consumers daily lifestyle. Nike simply could not acquire all the aspects of expertise required, and get the product to market quickly, without utilizing Open Innovation.

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