By Noah Robischon long Read Picture your ideal neighborhood.
The 3 Types of Innovation: There are several different ways a company can innovate; in this article, they are broken down into three general categories: By narrowing your focus on a specific type of innovation, you can be a more effective and strategic innovator.
Product innovation can come in three different forms. Drivers of product innovation might be technological advancements, changes in customer requirements, or outdated product design.
Product innovation is generally visible to the customer and should result in a greater demand for a product. Process Innovation Process innovation is probably the least sexy form of innovation.
Process is the combination of facilities, skills, and technologies used to produce, deliver, and support a product or provide a service.
Within these broad categories, there are countless ways process can improve. Process innovation can include changes in the equipment and technology used in manufacturing including the software used in product design and developmentimprovement in the tools, techniques, and software solutions used to help in supply chain and delivery system, changes in the tools used to sell and maintain your good, as well as methods used for accounting and customer service.
While product innovation is often visible to your customers, a change in process is typically only seen and valued internally. Speaking generally, changes in process reduce costs of production more often than they drive an increase in revenue.
Of the three types of innovation, process is typically the lowest-risk. This process change not only simplified vehicle assembly but shortened the time necessary to produce a single vehicle from 12 hours to 90 minutes.
Recently, Differential built a mobile sales dashboard for Grupo Bimbo. The baking company has 65 manufacturing plants and 2.
As a result, the executive team members travel a lot, meeting with their direct reports around the world. Business Model Innovation Business model innovation does not necessarily imply changes in the product or even in the production process, but in the way as it is brought to the market.
Often, the very capabilities or processes that have been optimized to make a company successful and profitable will become the targets for transformation. In some cases, these changes can threaten elements of the company identity and come into conflict with brand expectations or promises.
Whereas both product and process innovation can be incremental and moderate, business model innovation is almost always radical, risky, and transformative. When talking about business model innovation, without a doubt, names like AirBnB, Uber, or Spotify will come up. Because of these powerhouses, many might assume only startups are capable of massive business model innovation.
IBM has managed changes in customer offers from mainframes to personal computers to technology services. Amazon found a new channel to the customer through technology by eliminating the traditional retail distribution channel and developing direct relationships.
Instead of generic innovation goals, try to hone in your focus on a specific type of innovation. Posted Jan 16, Tech companies like Amazon, Netflix, Airbnb, Uber, Tesla, and WhatsApp are shaking traditional enterprises to their core.
Why Comcast and GM need to be more like Netflix and Uber to survive. Why Netflix Is One Of The Most Innovative Companies Of VP of user-interface innovation at Netflix, “you’re used to things being loud and .
The father of 'disruption' theory explains why Netflix is the perfect example — and Uber isn't. Common themes among the companies Amazon has brought into its inner circle: startups that adopted the retailer's technology early on; that help put it in direct orbit of Apple, Google, and Netflix.
Jun 19, · Now that so many entertainment companies see it as an existential threat, the question is whether Netflix can continue to thrive in the new TV universe that it has brought into being. The book cites the obvious examples today (Airbnb, Uber, etc.) while drawing clear contrasts against what could often be confused as platform businesses (Netflix).
There are strong examples of the structure of the platform business model throughout without too much depth to get caught into specific weeds.