MI&BI VIDEO INSIGHTS 23 FEB:
Prof Joe Tidd – Why innovate? – creating & capturing value
1. Capture value/benefit, not just profit or growth.
2. Value creation: HOW is it useful?
3. Value capture: appropriation in the form of monetisation or other benefits
4. Value creation and capture should be connected, otherwise Innovation stops.
Difference between products and services.
John Bessant – Exploring innovation space
1. Product: do better (incremental changes) vs. do different.
2. Process: the way you create and deliver your offering. Also do better vs. do
different (radical change). Innovation takes time and resources. Examples:
glass production, self-service shopping.
3. Position: change context of product placement. Examples: adult ice-cream,
Wii. Radical: where a market doesn’t exist, but emerges  disruption.
Examples: low-cost airlines
4. Paradigm: mental model of everything surrounding the product, opens up
innovation space. Rethinking business models. Examples: high-jump.
5. How much of the innovation space should we really explore?
Peter Diamandis 6 D’s of Exponential Growth
1. Ability to predict is very important
2. Digitise  Deceptive  Disruptive  Dematerialise  Demonetise 
Democratise
3. Example: 3-D printing has been around for long, but has gained exponential
growth now.