Learning insights:
Prof Joe Tidd – Why innovate?
Why are you innovating?
2 Important questions to ask:
 How can we create value?
 How can we capture value?
They are disconnected during the innovation process – people are too focused on monetizing it.
If you have a disconnect what happens next?
 Innovation stops – incentives and resources to innovate aren’t available anymore.
John Bessant – Exploring innovation space:
Essential question: Do we look for all the places where we could innovate?
Product innovation:
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Most innovation is what we do a little better, but it is worth it.
Accumulation of what we know and must better the result – incremental innovation.
Process innovation:
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Innovate or change the ways we create and deliver what we offer.
There are processes and supply chains (sets of activities that we can change)
Radical process innovation:
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Innovation takes time and a lot of trial and error.
You need equipment, people, and processes to educate people about an innovation.
Position innovation:
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Change the context in which we place a product.
Define a new market segment or create a new location – position an idea in consumers’
minds.
Opens up a market space.
Disruptive innovation:
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New markets create innovation that everyone wants.
Paradigm:
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Spectacle through which we see what we do and how we do it – new perspectives.
Peter Diamandis 6 D’s of Exponential Growth:
Digitized – Deceptive – Disruptive – Dematerialize – Demonetize – Democratize