Corporate innovation will stop you from eventually becoming obsolete!
Learn to use the leading proven strategic innovation methods and tools of the past 15 years in order to create growth and transform your company.
Si2 mentors executive teams in the use of proven innovation methods to grow their organization.
Reasons To Innovate
- More than 90% of executives believe the long-term success of their organization’s strategy depends on their ability to develop new ideas – Accenture
- 74% of CEOs afraid of new entrants disrupting their business model — KPMG
- The average business model lifespan has fallen from15 yrs. to 5yrs.!~ BCG
6% of executives satisfied with their company’s innovation performance — McKinsey
The bottom line is that innovation can work better when a formal system exists – Accenture
Explore vs Exploit Mindset
Most companies spend their time exploiting current market and improving their existing capabilities and processes. This mindset is about execution, forecasts, planning, and efficiencies. There is nothing wrong with this – it is table stakes for continuing to be successful. However, it will NOT get you the significant growth numbers many companies are looking for.
An explorer mindset is about invention, searching for new opportunities, learning and failing fast, and experimenting and pivoting. The goal is to explore new markets, unmet customer needs, and new business models that could return significant growth opportunities.
We must recognize that these innovation lenses have differing mindsets, skill sets, and risks.
Move From Product Innovation to Business Model Innovation
As we explore new areas to uncover growth opportunities, companies must start to change their mindset on how to view the innovation. We need to move from a product and service innovation mindset, to a business model innovation mindset.
Just creating a new product or service is not good enough! We must validate that we can create and deploy a business model that will allow us to capture value from the new idea. Your business model is how you create, deliver, and capture value. It is the true product/service – not the thing you make!
You will learn how to document, uncover, and test new business model ideas to quickly find new revenue generating opportunities. The 9 boxes in the business model depicted below can be viewed from several lenses to uncover innovations:
- Frontstage: Customer needs
- Backstage: Internal capabilities
- Profit Formula: Cost/Revenue variables
Tested Value Proposition and Business Model
At the end of the Corporate innovation sprint, our team will have designed and tested a new value proposition and business model.
Evidence-Based Process & Decision
Businesses that want to grow need to find ways to reduce the risk of investing in new ideas or business models. Testing is one way they can do that.
Innovation Skills Development
Boost your organisational innovation muscles by aligning everyone toward the same end goal and holding each other accountable for productive results.
Focus Areas Within Corporate Innovation
New Market Space Creation
Business Model Design & Innovation
Value Proposition Creation
Ideation, Testing and Validation of Ideas
Create a culture of continuous innovation
Manage & measure innovation to align with corporate goals
Integrate with corporate programs and processes
Transfer knowledge and skills to your team
Other Services Used Within Corporate Innovation
Define Your Value Proposition
A major part of the business model design process is defining your value proposition. We’ll get to know you, your product, and your customers—and then we’ll help you come up with a value proposition that’s sure to satisfy. We offer in-person workshops, remote workshops, and consulting services within your business.
Testing Business Ideas
Your business is innovative and unique. But how do you know what customers want? How do you know which options are the right ones to pursue? Testing helps you reduce the risk of investing in business models that might not work out, while also helping you find the best route to growth.
Also known as Human Centered Design, Design Thinking has been the leading methodology driving ideas for businesses over the last 20 years.
What makes Design Thinking unique is it helps you to dream up scores of ideas about new products and services from the user’s point of view. Creating innovative new solutions rooted in people’s actual needs.
Jobs To Be Done
You need to understand your customer’s problems better than they do. To solve problems, customer’s ‘hire’ products and services to “get a job done!”