10 Techniques to Achieve Breakthroughs Through Innovation

There are many ways to achieve breakthrough innovation. Most companies study the area they wish to break through, and then commission a project that will move the current industry peg forward. Increasingly, there are also frameworks that can be used as prescriptive guides to launch radical products and services that disrupt existing markets. Perhaps a dozen of these frameworks exist today, twenty years after Clayton Christensen introduced disruptive innovation to the world. This...
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There are many ways to achieve breakthrough innovation. Most companies study the area they wish to break through, and then commission a project that will move the current industry peg forward. Increasingly, there are also frameworks that can be used as prescriptive guides to launch radical products and services that disrupt existing markets. Perhaps a dozen of these frameworks exist today, twenty years after Clayton Christensen introduced disruptive innovation to the world. This presentation will focus on different frameworks that might lead to breakthrough products. They have really catchy names like Big Bang, Trickle Up, Digical, Ambidextrous, Design Thinking, Sustainable, and Bottom Of The Pyramid; but there is substance in the actual method. Some focus on trying to find thought leaders that are five years ahead of the industry. Others utilize software layers on top of physical products to change the value equation to the customer. Another technique focuses on developing or de-featuring products for the least affluent of all consumers - the majority of people on earth; and another builds off down-market products by charting paths to the up-markets. Ten techniques will be summarized, along with industry examples and economic research on the potential benefits to underpin each technique. Take-Aways: ¿ Learn what corporations are investing to achieve radical innovation. ¿ Profile the several overall R&D strategies that embrace and facilitate disruption. ¿ Understand corporate resource and portfolio allocations to produce breakthrough results. ¿ Internalize the pitfalls and risks when attempting disruptive products. ¿ Become aware of the ten or more differentiable methods that now exist for new-to-the world products. ¿ See the range of possible revenues, profits, and financial returns for successfully disrupting markets.