Innovation and creativityComing up with a great idea

Dr. Andrew Maxwell, May 2015

Agenda

Where do good ideas come from?

Six sources of innovative ideas

Creative problem solving

Developing the value proposition

What makes a good idea?

Where do good ideas come

from?

Seven approaches to identifying

an innovation opportunity

Design thinking

Technology trajectory

Gaps in current solutions

Value chain analysis

Building on technology platforms

Business model innovation

Future foresight

Five whys

Design thinking

Look at what currently happens and suggest way the process can be

improved.

Technology trajectory

Gaps in current solutions

Firm’s value chain analysis

FIRM INFRASTRUCTURE

HUMAN RESOURCE MANAGEMENT

TECHNOLOGY DEVELOPMENT

PROCUREMENT

INBOUND

LOGISTICS OPERATIONSOUTBOUNDLOGISTICS

MARKETING

AND SALES

AFTERSALESSERVICE

OPERATIONS OUTBOUND

LOGISTICS

M

A

R

G

I

N

AFTER

SALES

SERVICE

Value chain analysis in the book

publishing business

Author Publisher Wholesaler ReaderRetailerAgent

Sales groups

Packager

$0.50

Promotions

$0.05

$0.50

$1.00

$0.375

$5.50

$1.25

$0.375

$10.00$3.50

Five forces that shape competition

Building on innovation

Business model innovation

Refers to the creation, or reinvention, of a

business itself. Whereas innovation is typically

seen in the form of a new product or service

offering, a business model innovation results in

an entirely different type of company that

competes not only on the value proposition of its

offerings, but aligns its profit formula, resources

and processes to enhance that value proposition,

capture new market segments and alienate

competitors. Wikipedia

Business Model Innovation

Business Model Canvas

http://www.businessmodelgeneration.com/canvas/bmc

Why innovate your

business model? Increase value proposition, or attack new market

segments

Increase revenues, or reduce costs

Develop strategic partnerships, or enhance extant resources

Leverage supply chain, or distributor, relationships

Improve current activities, create new value for customers

Sell more to existing customers or find new customers

Five whys of innovation

Good ideas not invented by

humans?

Use Future Foresight to predict

market trends

2

Developing the value proposition

Persuading a customer, or user, to adopt your

innovation requires them to:

switch from using an existing product / service

adopt an entirely new product or service

Changing behaviours means motivating customers,

or users, to change – how do you motivate them?

2

The value proposition

canvas

What makes a good idea

Desirability[What do people desire]

Viability[What is financially

viable]

Feasibility[What is technologically &

organizationally feasible]

Does your idea have what it

takes?

Five steps to creative

problem solving

Understand problem you are trying to address – is this based on evidence or opinion?

Create multiple approaches to solving problem – use references, frameworks or ideation techniques

Develop framework for choosing between options – often based on viability, feasibility or desirability

Rank options against framework -identify opportunities for improvement

Identify ways to test most promising options -repeat process if necessary