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Innovation

24 Minute CIO

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Unit Video

Unit Summary

This course will provide you with 4 step process to help guide your innovation:
  • Understand the problem that you are addressing
  • Spend some time coming up with as many ideas as possible
  • Choose one or two of the best ideas
  • Evaluate and Refine by getting your target users to give you their feedback and suggestions on the prototype that you created

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Transcript

In this video you will learn 4 steps that will guide you in developing your Next Innovation. Innovation can be summarized as the process of coming up with a new idea, product, service, or experience that customers would be willing to pay for. It is a key success factor for businesses these days since competition in the business world is fierce and innovation offers a way to differentiate and stay relevant to clients.
Here is a simple 4 step process to help guide your innovation process:
  • Understand the problem that you are addressing, the users that are affected, the technology that is available, the competitors offerings
  • Spend some time coming up with as many ideas as possible, regardless of how good they are (Ideate)
  • Choose one or two of the best ideas – which could be a collection of a few ideas combined into one – and rapidly prototype them
  • Evaluate and Refine by getting your target users to give you their feedback and suggestions on the prototype that you created.
As this innovation process becomes ingrained into your business the process can be conducted periodically all through the organization with the involvement of all staff.
As Alan Kay said, the best way to predict the future is to invent it!

Case Study

Layla has a boutique that sells trendy accessories for youth in downtown. She is noticing first-hand the trend that youth are more and more inclined not to visit stores but rather buy online.
Identifying that problem, she seeks to innovate a solution.
To ideate, she comes up with many possible ideas but focuses on one idea that has to do with developing a mobile app that integrates, fashion, trivia and a community.
Since she is not an expert in this field she goes to one of the local universities and asks for interns that could help her come out with building a prototype of the app.
She finds out the prototype can be done in a month and since the students are based in the university, they could test amongst the youth there to get feedback.
Once feedback has been gathered, Layla can then continue to develop the app using the students or find a professional company to develop it after proper testing and feedback.

Quotes

Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable. William Pollard