Design Thinking, Innovation and Inventive Opportunity – Inventive Opportunity Series on Strategy and Leadership
The coined term “design thinking.” has been getting more popular in the last few years. Design Thinking has sprung up in the titles of new business books and in business conversations, though it sometimes feels that we are still searching for the details of this interactive and creative process that seeks innovation. The “inventive opportunity” framework enhances innovation, creativity and value and it aligns very well with design thinking. The design thinking name and process reflects the approach that designers use in a creative process that can lead to innovative benefits, help solve problems, increase value and add competitive advantage.
In any business or organization is there an inventive opportunity by using an innovation management strategy in all departments? Some areas of organization such as project management are sometimes thought of as a place for timely deliverables that are measurable, a place to reduce risk and develop constraints in short a home for expertise in trained linear thinking. Can this also be a place for leadership and enhancing value by utilizing creativity and innovation?
Strategic Marketing Management: Enhancing Innovation, Creativity and Value Series for Marketing and Sales
The strategic marketing management template detailed below includes a number of sales and marketing processes that can be used in applying a systematic approach to strategic sales and marketing. Your business management situation, inventive opportunity and business planning will dictate what areas of the template will be the most useful. A feedback systems process is indicated by the arrows (simplified) demonstrating exchanges in communications and information through out the system.
A number of components such as: PEST Analysis (Factors – Political, Economic, Social, Technology, Legal and Environmental); SWOT Analysis (Factors – Strengths, Weaknesses, Opportunities and Threats); Marketing Mix (The Four P’s – Product, Price, Place (Distribution) and Promotion); and Product Life Cycle Analysis (Introduction, Growth, Maturity and Decline) are standard in the marketing industry. Sustainability is included within the processes demonstrated by such factors as end of product strategies, cradle to grave and corporate social responsibility.
A Competitive Advantage in Marketing and Sales: Enhancing Innovation, Creativity and Value Series for Marketing and Sales
Inventive Opportunity – Finding ways for competitive advantage and Inventive Opportunity by adding value and enhancing differentiation capabilities are a constant and ongoing challenge for the individual and organization. In times of constraint such as recessions or financial hardships accomplishing more with less becomes a necessity. Differentiation is used in product marketing to make the product or service attractive in specific markets or segments. In sales we differentiate our products and services that are offered to clients by looking for unique features and moving these features to benefits that a client will value.
We were in the midst of a recession. It was bad. The recession hit the automotive, forestry, steel, construction and manufacturing industries and the opportunities did not look good. These industries made up a large amount of our existing business. Some of the company’s product lines were getting squeezed to as low as 5% gross profits. My technical product line offered our company much higher gross profits, but had to be a utilized as a problem solver to receive this value.
Carrying an adaptable and curious mindset can bring inventive opportunity. Seeing things from different perspectives removes a certain amount of rigidity that may limit us in observing the whole that is in front of us. Think back to a time when you where a child, asking questions, constantly learning and constantly changing and growing in body and mind. Remember when you saw something for the first time.
Inventive Opportunity – Today is Friday, it’s raining, I’m spending time at our local bank and I am smiling. I’m not quite up to singing in the rain, because I don’t have the voice and I don’t remember the lyrics, but I gave it a go anyway (quietly to myself). In walked a bank customer who strutted up to the customer service booth next to me and in a somewhat demanding loud voice said to the customer service person (I am paraphrasing here) “I want to speak to someone important!” “You will not know what this is about.” Looking around I noticed that this customer had everyone’s attention including the security guard. As I was waiting with baited breathe for the next words of wisdom to be spoken … I noted that no crunched-up written note was handed to the customer service person and nothing threatening was in the person’s hands.
Leadership, Strategy, Teamwork and Synergy – Background: Inventive Opportunity Series on Strategy and Leadership
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Strategy
Well I’m back from Europe a little wiser and more appreciative of the differences and similarities in regional culture and terrain. My three weeks included a lot of driving, trains, planes with visits to Dresden, Germany; Paris, France; and (Florence, Bologna, Cinque Terra) Italy. The Dresden area brought many pleasant surprises. My daughter in-law’s grandparents provided us with a walking tour of the city of Dresden. The transformation and re-building of the city that was devastated in WWII is a testament to the leadership, strategy, endurance and foritude of its people. Dresden is definitely worth a visit.
Sustainability – Book Review, “Sustainable Energy – without the hot air”.
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Sustainable Energy
I just completed my first read of the free downloadable version of David JC MacKay (Professor, Department of Physics, University of Cambridge) 2009 new book called, “Sustainable Energy – without the hot air”. Included at the bottom of this post is David’s website address – download the free version and find out where to buy a hard copy.
In the section “What’s this book about?” David wrote, “This is a straight-talking book about the numbers. The aim is to guide the reader around the claptrap to actions that really make a difference and to policies that add up.” I agree with what he wrote in the above quote.
An initial observation on the meaning of business sustainability could be concluded as a continuation of a process. Your business is an example and you want it to grow and continue to be successful. Greater insight can be gained by looking at other stakeholders that impact or are impacted by your business (e.g., customers, local community and authorities, consumers, suppliers, employees). Your business is also a stakeholder in: other businesses; the economy; society and the environment. Observations now have moved from the me to the we, realizing that we are part of a much larger sustainable system, where decisions are made that affect your business. Participating in business sustainability can open doors to business opportunity.
