Location: What do we mean by "innovation"?

Discussion: Gary Hamel: Leading RevolutionReported This is a featured thread

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FrankNigriello
FrankNigriello
Gary Hamel: Leading Revolution
Apr 27 2008, 7:00 AM EDT | Post edited: Apr 27 2008, 7:00 AM EDT
Obviously, you can't teach someone to be an innovator unless you know where game-changing ideas come from. In other words, you need a theory of innovation -- like Ben Hogan's theory of the golf swing. This is why, a few years back, I and several colleagues analyzed more than a hundred cases of business innovation. Our goal: to understand why some individuals, at certain points in time, are able to see opportunities that are invisible to everyone else. Here, in a pistachio-sized shell, is what we learned. Successful innovators have ways of seeing the world that throw new opportunities into sharp relief. They have developed, usually by accident, a set of perceptual "lenses" that allow them to pierce the fog of "what is" in order to see the promise of "what could be." How? By paying close attention to four things that usually go unnoticed:"
"1. Unchallenged orthodoxies -- the widely held industry beliefs that blind incumbents to new opportunities.
2. Underleveraged competencies -- the "invisible" assets and competencies, locked up in moribund businesses, that can be repurposed as new growth platforms.
3. Underappreciated trends -- the nascent discontinunities that can be harnessed to reinvigorate old business models and create new ones."
4. Unarticulated needs -- the frustrations and inconveniences that customers take for granted, and industry stalwarts have thus far failed to address."

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