12 Dimensions of Business Innovation

Consumer insights on innovation

I just read an excellent article entitled, “The 12 Different Ways for Companies to Innovate” from MITSloan Management Review (http://bit.ly/goltRL).

In it, the authors identify the 12 dimensions of business innovation.

It’s important to consider the different dimensions since many people just think of new product development when they hear “innovation.”

I share the following with you to help you think beyond new product development when pursuing innovative initiatives within your firm.

Here are the 12 dimension to consider:

  1. Offerings — develop innovative new products or services
  2. Platform — use common components or building blocks to create derivative offerings
  3. Solutions — create integrated and customized offerings that solve end-to-end customer problems
  4. Customers — discover unmet customer needs or under-served customer segments
  5. Customer experience — redesign customer interactions across all touch points and all moments of contact
  6. Value capture — redefine how the company gets paid or create innovative new revenue streams
  7. Processes — redesign core operating processes to improve efficiency and effectiveness
  8. Organization — change the form, function, activity or scope of the firm
  9. Supply chain — think differently about sourcing and fulfillment
  10. Presence — create new distribution channels or innovative points of presence, including where offerings can be bought or used by customers
  11. Networking — create network-centric intelligent and integrated offerings
  12. Brand — leverage a brand into new domains

This article was written in 2006.  What other dimensions of business innovation have you or your firm used in the last five years?

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About Insights From Analytics

Integrated marketing professional who generates insights from analytics to increase revenue. Daily blog now resides at www.insightsfromanalytics.com/blog.
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2 Responses to 12 Dimensions of Business Innovation

  1. I do not even know how I ended up here, but I thought this
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    you’re going to a famous blogger if you are not already 😉 Cheers!

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