Ten Types of Innovation

As the pace of change continues to increase, innovation is no longer optional for firms, it’s imperative. Customers demand it. Competitors will outflank you if you don’t achieve it. Talented employees won’t join your firm if you don’t deliver it. Analysts expect it. Investors reward it. And yet most people still believe in primitive myths about innovation that are simply not true. Most people equate “innovation” with “new products.” Through a decade of analysis, Larry Keeley has identified nine other types, and innovators overlook them at their peril. As it happens, product innovation alone has the lowest return on innovation investment. Keeley widens the frame to include innovation in customer experience, business models, core and enabling processes, channels, brand and more. Through these enabling innovations companies have enjoyed sustainable success, such as Wal-Mart’s real-time inventory management systems, Apple’s digital media platform and Target’s customer experience approach.  Larry gives a lively account of the hype and reality of making innovation happen.

Doblin Inc.