Teaching How To See
Innovation management teaches many things and one of them is how to filter the world around us to be able to better identify potential markets that are within reach with nominal transformation. In innovation management parlance this is called adjacent innovation, meaning markets that are adjacent to existing lines of business that could be developed with a targeted strategy. One of the tools that many innovation management practitioners use to filter business opportunities is called future-scenario planning. This tool is basically used as a way to visualize how a specific business or customer-base may look like in the future. Another tool is the use value-based analysis, which looks at a businesses’ workflow and assigns value parameters to each step in the process of delivering value to customers. The aim is to find areas of competitive advantage and where a company may take a stance and compete effectively with those that are disrupting their businesses.