Innovation Matrix | How to Execute an Innovation Process

Anjali Adhikari

20 min•0 plays•0 favorites

Business & Finance

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The Visionary Chronicles PODCAST CHRONICLE: September 9th, 2021 " Innovation distinguishes between a leader and a follower..." Wisdom from Steve Jobs INNOVATION MATRIX | How to Execute an Innovation Process In my new PODCAST, I discuss how to define, implement and execute a tiered Innovation process, one that consistently outmaneuvers your competitors. Building an effective, efficient, and consistent Innovation Driven brand is difficult and why so few have executed the process successfully. Those who have achieved this are richly rewarded, whether through Brand Equity, category leadership, or marketplace acceptance; each continues to add VALUE to the Brand itself. The Process execution is the Goal, but what is the Process? The implementation is a multi-tier process, each mastered by those committed to relentless innovation and a foundational commitment to a free-flowing ideation flow. With this process in place, these brands know they can command higher price points through both revolutionary and incrementally better products at all price tiers. As a result, squeezing their competition at all levels, eventually moving them out of the market! Competitors who are not committed to this process or do not know how to execute these Innovation tiers will imitate or move on to another category. Innovators DO NOT imitate; they find ways to Disrupt, building Breakaway products, moving them generations ahead. In sustaining this commitment to a Disruptive Culture, they produce both passionate internal teams and loyal communities committed to their Brand. So what are these Innovation Matrix Tiers? TIER I: CORE You optimize current products, finding ways to improve without having to reinvent. Life Cycle Adoption: Late Adopters TIER II: INCREMENTAL New products that enhance or complement current in-line programs. Prov

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