Strategy

Want to Nail Pricing? Understand Market Dynamics First

Want to Nail Pricing? Understand Market Dynamics First - Innovation Excellence

Pricing is a game – one with asymmetric and imperfect information. So what does this mean for you? Basically, you’re very unlikely to nail pricing the first time. And even if you do come close, you’ll have to adjust as your product and market mature. While you’ll never get pricing 100% right the first time, there’s no reason you shouldn’t set yourself up for the best possible chance at success.

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Pruning Your Root Cause

Process improvers the world over rally around root cause analysis as if it were the Holy Grail of all things organizational. But is it? Understanding the root cause of a problem certainly makes sense in the context of a present day situation carrying the potential for a correct answer or solution. In the process improvement world, problems center on reducing ...

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Age Diversity and Innovation Teams

Age Diversity and Innovation Teams - Innovation Excellence

There are lot’s of ways to increase diversity, but should this include age? Are we better of with younger, passionate teams that challenge the status quo, or more mature teams that leverage broader experience and expertise? Or are these both stereotypes, and age doesn’t really matter.

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What Appears to be Strategy Often is Not

I regularly engage in hansei (reflection) after each of my facilitation engagements. It’s a simple learning mechanism, essentially an after-action process of asking: what I expected to happen (my hypothesis if you will), what actually happened, and what explains the gap, if there is one. And there invariably is. The gap is where learning and insight live. It creates new knowledge. It’s ...

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Five Innovation Lessons from 3M

3M is an iconic innovative company. Although mostly known for “sticky and scratchy things” (post-its and sandpaper), 3M have over 55,000 products, releasing 25 new products per week and had over 3700 global patents granted in 2016. Over 90,000 employees, 200 manufacturing plants and 86 labs are all focused on progressing 3M’s innovation agenda, but how do 3M maintain and ...

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The Art of Strategic Observation

I am nothing if not a consumerist. Meaning, I am constantly impressing upon companies I work with to make sure they have a deep and empathic understanding of their customers…past, present, and future, especially if they are contemplating a strategic shift that entails repositioning or refocusing their efforts to target new and different segments. Generally speaking, most companies are pretty ...

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Innovation is Combination

Innovation is Combination- Innovation Excellence

Much has been made about the difference between innovation and invention. One writer went so far as to argue that Steve Jobs development of the iPod wasn’t an innovation because it was dependent on so much that came before it. A real innovation, so the argument goes, must be truly transformational, like the IBM PC, which created an entire industry. ...

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