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?


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
    post was great. I do not know who you are but certainly
    you’re going to a famous blogger if you are not already 😉 Cheers!

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