Decoding INNOVATION

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Decoding
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• Ideas
• Ideas and imagination are the raw materials or
  the starting point for innovation.

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• New questions
• Innovation starts with asking new WHAT?, new
  WHO?, new HOW?, new WHERE?, new WHEN? and new WHY?

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• New customer needs
• Translate unperceived and unarticulated customer
  needs into development of new products and
  services.

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• Obstacles
• Look at the existing obstacles and problems for
  successful innovation. All great innovations
  begin with obstacles and problems. Think of
  resolving the problems in an unconventional
  manner.

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• Values
• Customer value enrichment is the basis of all
  innovation. Think of ways in which customer
  values can be maximized and new values can be
  created. Value innovations are the best kept
  secrets of leading organizations.

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• Action
• Ideas must be converted into actions. An ordinary
  idea which is put to action is far better than a
  great idea which is only in the mind.

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• Technology
• Innovation becomes easier by using the existing
  technologies.

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• Integration
• Quite often innovation is the result of
  integration. Integrate existing products,
  features, technologies and various disciplines
  for successful innovation.

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• Out-of-the-box thinking
• Challenge the conventional wisdom and all the
  existing paradigms. Think opposite, think
  metaphorically, have the capacity to perceive
  resemblances between two separate areas,
  formulate incongruent and unusual combinations,
  apply non-linear or lateral thinking for
  out-of-the-box solutions.

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• New products services
• This is the ultimate goal of innovation. The new
  products and services must be a game changer.
  It must change the rules of the industry.