Delivering business innovation
Many companies claim to be innovative but few manage to realise the business value. Innovation aims to create completely new products or services, to the point of imposing a new standard. Innovations of this nature arise from a deliberate desire to break established patterns and create a completely different vision.
We define innovation as fundamental change in the value a company offers to its customers and stakeholders or fundamental reductions in the cost of creating and providing that value.
Innovation is well recognised as a compelling source of competitive differentiation but a constant flow of innovation is also the source of sustainable competitve advantage.
However, innovation efforts rarely materialise in business value – they require a considerably greater effort and very few companies manage to succeed.
We believe that innovation is rarely an output of isolated genius. Innovation is a social art and it happens when people interact with one another. But innovation without methodology is just luck.