Strategy Innovation
Learn
It’s interesting to know that in Creating Phase, one need to look at innovation vs feasibility ideas. The goal of strategy innovation is to identify innovative new business opportunities for a company to consider. However, highly innovative ideas could end up being impossible to implement or not financially viable due to constraints of practical business considerations. So how do we manage to keep ideas both innovative and feasible at the same time?
Unlearn
I always thought that feasibility is more important because there is no point of coming up with an innovative idea which is not feasible. The idea simply would not work.
Relearn
I realized that the above perception was wrong. When faced with this innovation/feasibility trade-of, we should always opt for the innovative. This is because it is easier to build feasibility into an innovative idea than to build innovation into a feasible idea. If we stick to feasible ideas for a new business chances are that it is more of an incremental product improvement than an innovation capable of changing the basis of competition in the market place.
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1 comment:
An important learning discovery Brendan. Would be more convincing if you could relate them to real life workplace happening. Perhaps mention them in your future entries.
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