Innovation

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Innovation is defined as creation of new paradigms or ecosystems, be that through products, services, organizational or community offerings. In its truest form innovation results in the creation of something new (and as such a by-product of the innovation process is often invention), however that "new thing" does not need to be an entirely new product, service or "patentable" invention just to be considered innovation, it can be an incremental improvement or a new way to use existing products/services. At the heart of innovation is the creation of new value in anticipation of future demand.[1]

5 key aspects of innovation (not just for Startups, it is essential to create this within big companies if they are to be innovative):

  1. Fail fast. Rapid Iteration.
  2. Test assumptions very quickly and accelerate the decision of which startups/projects to kill and which ones to double down on
  3. Creation of a minimum viable product (MVP) to test the customer adoption and value
  4. Don’t overfund the startup with cash and resources.
  5. Establish milestones and gating events which become critical decision points for continued funding


Disruption

Disruption is often referred to as a specific type of innovation that shifts profits and/or consumer mindshare away from incumbents or entrenched market leaders and into new market entrants, brands or similar but differentiated product-lines (although academics and front-line business decision makers debate whether it is a form of innovation or merely winning in the marketplace, sometimes "by whatever means necessary" including playing dirty or breaking laws i.e. deceptipve marketing tactics, loss-leading, cost-undercutting, copying, patent trolling & lawsuits, etc).

A product or service is said to be "disruptive" if it does small incremental innovation or configuration changes providing new angles towards existing markets, or the appearance of new.


Maker Culture

Making things and combining them in new ways (without breaking them down to their constituent parts).


Design Thinking

Design thinking utilizes elements from the designer's toolkit like empathy & experimentation to arrive at innovative solutions to real-world problems. By using design thinking, you make decisions based on what future customers really want instead of relying only on historical data or making risky bets based on instinct instead of evidence.

[2] [3] [4] [5] [6]


Participatory Design

A form of collaboration between a particular inventor or innovator (which could be anything from a person to a state/government entity, or, a community to a business corporation or non-profit), and the broader community which is to be affected by the item (product, service, edifice or public space) being designed.

Co-Creation

Act of working together as a group to create something specific, often but not always something which has been "designed participatorily".


Hacker Culture

Hacker Culture is defined as the informal and loosely knit community which exists around the concepts of exploring or tinkering, particularly in the technology sector, however one need not be a certification-holding, university-educated engineer; rather anyone can be deemed a hacker simply by their curiosity and activities. "Hacking" in this sense of the word is not malicious in nature rather defines the act of breaking things down and reassembling their parts or sub-components in new ways, or, seeing what it takes to compromise them for integrity validation, security verification, novel usage or other research purposes.

Continuous Improvement

Trying small, incremental improvements on existing products or services. Another example is taking components (i.e. code snippets, hardware, sensors, etc) from one resource and using it in new ways outside of the initial design and usage purpose, or combining it in novel ways with other components to achieve new results, outputs or capabilities.



Resources

[8] [9] [10] [11] [12] [13]


External Links

[14] [15]

[16] [17] [18] [19]


References

  1. How Big Companies Can Innovate Like Start-Ups: http://www.forbes.com/sites/mitchfree/2013/11/12/how-big-companies-can-innovate-like-start-ups/
  2. A Virtual Crash Course in Design Thinking: https://dschool.stanford.edu/resources-collections/a-virtual-crash-course-in-design-thinking
  3. Design Thinking course by IDEO U: https://www.ideou.com/pages/design-thinking
  4. HBR - Design Thinking: https://hbr.org/2008/06/design-thinking
  5. Design Thinking… What is That?: https://www.fastcompany.com/919258/design-thinking-what
  6. What Is Design Thinking?: https://www.forbes.com/sites/sap/2015/05/10/what-is-design-thinking/
  7. The OSS Minimum Feature Set is Not The Goal: http://passionateaboutoss.com/the-oss-minimum-feature-set-is-not-the-goal/
  8. How to help other people have ideas: https://medium.com/@CharlesRowat/how-to-help-other-people-have-ideas-ee5396a58d8a
  9. How To Design Card Games For Workshops: https://artefactshop.com/blogs/news/13736781-how-to-design-card-games-for-workshops
  10. How To Conduct Your Own Google Ventures Design Sprint: https://www.fastcompany.com/1672887/how-to-conduct-your-own-google-design-sprint
  11. The Secret Phrase Top Innovators Use (Google, Facebook, IDEO): https://hbr.org/2012/09/the-secret-phrase-top-innovato (How Might We)
  12. How IDEO Designers Persuade Companies to Accept Change: https://hbr.org/2016/05/how-ideo-designers-persuade-companies-to-accept-change
  13. An Insider’s Guide To Business Design At IDEO: https://medium.com/ideo-stories/an-insider-s-guide-to-business-design-at-ideo-adf993b9c12c
  14. Google Took Its 20% Back, But Other Companies Are Making Employee Side Projects Work For Them: https://www.fastcompany.com/3015963/google-took-its-20-back-but-other-companies-are-making-employee-side-projects-work-for-them
  15. Want to Boost Your Bottom Line? Encourage Your Employees to Work on Side Projects: https://www.inc.com/adam-robinson/google-employees-dedicate-20-percent-of-their-time-to-side-projects-heres-how-it-works.html
  16. Digital Leaders -- 3 Ways To Make Your Big Ideas Real: https://www.psychologytoday.com/ca/blog/digital-leaders/201610/3-ways-make-your-big-ideas-real
  17. So, how do you get your innovation through a steering committee?: https://www.linkedin.com/pulse/so-how-do-you-get-your-innovation-through-steering-committee-taylor/?trk=mp-reader-card
  18. Idea to Paying Customers in 7 Weeks -- How We Did It: https://buffer.com/resources/idea-to-paying-customers-in-7-weeks-how-we-did-it
  19. Beware of Digital Agencies ‘Doing’ Corporate Innovation: https://medium.com/steveglaveski/beware-of-digital-agencies-doing-corporate-innovation-15c540becb51

See Also

Tech | Startup | Business | Marketing | NPD | CI/CD | DevOps | Testing | LOD