Scribd
Upload
1K views2 pages

Innovation and Strategy Formulation-Reviewer

This document discusses different approaches to innovation including ideas-based, needs-based, and outcome-driven innovation. It explains that outcome-driven innovation (ODI) takes the guesswork out of innovation by first defining the job-to-be-done and quantifying unmet customer needs and outcomes before developing solutions. The ODI process involves defining the market around the job, uncovering desired outcomes, quantifying unmet outcomes, discovering opportunity segments, and deploying a winning strategy. ODI addresses flaws in other approaches by focusing on stable customer jobs and needs rather than unpredictable ideas or potentially incorrect customer feedback.

Uploaded by

Erika Mae Legaspi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
1K views2 pages

Innovation and Strategy Formulation-Reviewer

This document discusses different approaches to innovation including ideas-based, needs-based, and outcome-driven innovation. It explains that outcome-driven innovation (ODI) takes the guesswork out of innovation by first defining the job-to-be-done and quantifying unmet customer needs and outcomes before developing solutions. The ODI process involves defining the market around the job, uncovering desired outcomes, quantifying unmet outcomes, discovering opportunity segments, and deploying a winning strategy. ODI addresses flaws in other approaches by focusing on stable customer jobs and needs rather than unpredictable ideas or potentially incorrect customer feedback.

Uploaded by

Erika Mae Legaspi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Innovation and Strategy Formulation

Reviewer – Module 1

Innovation = invention x commercialization  Customer needs are multilayered and complex.


 GOAL OF INNOVATION: devise solutions
Types of Innovation: that address unmet customer needs
 Technology  Both IBA and NBA have flaws.
 Process
 Business Model Outcome-Driven Innovation (ODI)
 Positioning - a methodology that takes the guesswork out
 Others of innovation and enables companies to
consistently create products that customers
Categories of Innovation: want to buy.
 Disruptive
 Incremental Need specifications must be:
 Lateral  knowable
 discoverable
Ideas-based Approach (IBA)  valid
- brainstorming ideas first and testing them if  solution independent
they fit customer needs
 unambiguous
- inherently flawed
 measurable
- will never be the most effective approach to
 informs the team how to create
innovation
customer value
- remain unpredictable
- Key to success: generate a larger number of  must be stable over time
breakthrough ideas
- 1st step of the development process: IDEA Job-to-be-done Theory
GENERATION - offers a stable unit of analysis
- the evaluation and filtering processes are - the metrics people use to measure the
flawed successful execution of the job form the
- customers cannot articulate they solutions foundation of ODI process
they want - introduces the types of customer needs that
must be considered to gain a deep
Needs-based Approach (NBA) understanding of what a customer is trying
- Companies first learn what the customer to accomplish
needs are, then discover which needs are
unmet, and then devise a solution that The Core Functional Job-to-be-Done
addresses those unmet needs. - the job the end user is trying to get done
- Drawback/flaw: execution - the anchor around which all other needs are
- Flaw is corrected in Outcome-Driven defined
Innovation process (ODI)
- Uncover needs before ideas Unique Characteristics of Functional Job:
- Better than the IBA 1. Job is stable; doesn’t change over time
2. Job has no geographical boundaries
Voice of the customer (VOC) 3. Job is a solution agnostic
- customer’s own words regarding the product
or service he/she wants
- May result in the wrong inputs
ODI Process
1. Define your market around the job-to-be-
done
2. Uncover desired or outcomes
3. Quantify which outcomes are unmet
4. Discover hidden segments of opportunity
5. Formulate and deploy a winning strategy

Market – a group of people + the job they are trying


to get done

Market selection - process of deciding what new


markets a company should enter to establish
attractive new revenue streams

Customers – job executors

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy