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If you want innovation then think about these two words – pain and slack. They can lead you to innovation success. Wherever there is a pain there is a need for innovation. So if you are looking to create new products or services look for the pain points. Study your customers and their everyday activities. [...]  Siemens have published a detailed report on Open Innovation. It contains many interesting points including a report from Grant Thornton on the sources of ideas. Their survey revealed that the best sources of ideas were as follows as rated by percentage of respondents: Customers 41% Heads of Business Units 35% Employees 33% Internal R&D 33% [...] The CEO of Black and Decker once said, ‘People don’t go into a DIY store because they need one of our drills. They go because they need a hole in the wall.’ Wonderbra in their internal communications to staff say this, ‘We do not sell underwear. We do not sell lingerie. What we sell [...] I went for a walk in the park today and noticed that most of the people who were walking their dogs were using ball throwers. We had a dog for many years and in all that time I threw balls and sticks for it and was never aware of any need for a ball thrower. [...] Customers can be an important source of innovative ideas. Many companies conduct conventional customer surveys and focus groups. These are useful channels of feedback but in terms of original ideas they are often disappointing. Customers are good at demanding incremental improvements in products, lower prices and better service but they are notoriously poor at predicting [...] |
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