I have been asked by a prestigious MBA School's professor to proof an advanced copy of his book. And while the author does an excellent job of describing the problems and symptoms, he like others are yet to tell you "how to do it."There are three Innovations in Business.
1) Technological Innovation, typically patent driven, which is why companies grow in fits and starts and breakthroughs are fewer and farther between;
2) Product Design Innovation which more often than not is practiced simply by making the old look new - i.e. turning mops into Swiffers - which is easy to copy and does not sell an incrementally greater number of redesigned mops;
3) and the most underutilized and least understood Innovation
Perceptual Innovation® leading to Perceptual Monopolies® that enable companies to:
A) Leapfrog competitors with ideas that change thinking rather than changing things with expensive and risky capital technology investment;
B) Change consumer habits and practices;
C) Reverse the effects of mature product and category (or industry lifecycles - every company's challenge in fast track consumer packaged goods categories and automobiles);
D) And, if you're a company such as Starbucks, Chrysler, GM, Ford or Home Depot desperately in the need - turn mature earnings companies back into rapid growth businesses.
This all speaks to C-level execs who are the leaders in charge of innovation driving the growth of their company. It sure isn't Chuck in product design or Larry in manufacturing/R&D.
We have a process that will readily identify the Perceptual Monopolies® you desire, if you have a competition in you that does not want to see others (rivals and competitive brands) succeed - work that also enables you to point your company's future development of technologies in the proper direction.
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