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Innovation in Practice
Business model innovation is often the key to capturing value from innovation. Developing and implementing new business models in practice, however, is difficult and fraught with risk. This paper discusses a systematic approach to developing new business models and identifies concrete steps to reduce the risks associated with them.
Successful innovation requires the management of multiple contexts: those of the customer, the offering itself, the business model for the offering, and the strategic aims of the hosting corporation. An approach to managing these contexts and the constraints they impose was developed and implemented at Pitney Bowes. The approach is based on a deep and continuing reliance on the customer for direction.
Attached are the slides presented at Unleashing Innovation on March 23, 2016 on the business model innovation practice at Goodyear, with an emphasis on designing and conducting experiments to learn and reduce the risk of new business models.
Aston University has formed a consortium of manufacturing companies seeking to move toward advanced services (servitization). This presentation summarizes Goodyear's path to advanced services.
At the Innovation Leaders Forum in 2013, I discussed creating a culture of innovation, using the parable of the soil as a metaphor. In the presentation, I argue that new business innovation is change management.
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