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Value Innovation Delivering Beyond Customer Expectations |
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By: Vadim Kotelnikov
Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!
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"The biggest mistake anyone can make is to focus on the competitor. You focus on the consumer and you will get it right." – K.B.Dadiseth |
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What is Value Innovation? The value innovation concept provides a relevant support for questioning product/market strategies as well as underlying assumptions. You must examine radically what constitutes real value for customers by asking fundamental questions: what value offering need to be introduced or increased to meet customer needs? what value offerings can be reduced or eliminated, because they do not constitute real value for customers?
Why
Value Innovation?
Why do some companies achieve sustained high growth in both
revenues and profits? In a five-year study of high-growth companies and
their less successful competitors, researches3 found that the
answer lies in the way each group
approach strategy.
The difference in approach was not a matter of managers choosing one
analytical tool or planning model over another. The difference was in the
companies' fundamental, implicit assumptions about strategy. The less
successful companies took a conventional approach: their
strategic thinking was
dominated by the idea of
staying ahead of the competition. In stark contrast, the
high-growth companies and
market leaders paid
little attention to matching or beating their rivals. Instead, they sought
to make their competitors irrelevant through a strategic logic called
value innovation.
The market leader
is dominant in its industry and has substantial market share. If you want to
lead the market, you must be the industry leader in developing
new
business
models
and Customer-driven Innovation: 7 Practice Tips
Blue Ocean Strategy: 6 Principles Blue ocean strategy is about revolutionary value innovation. The six principles drive the successful formulation and execution of Blue Ocean Strategy. These principles attenuate the six risks... More By: Peter Drucker
Look At Your Company From Outside-In
and Inside-Out
By: Masaaki Imai
What need
could you satisfy now?
In future?...
More
Quotes from Great Corporate Leaders
"The man who will use his skill and
constructive imagination to see how much he can give for a dollar, instead
of how little he can give for a dollar, is bound to succeed." The Seven Dimensions of Strategic Innovation The Strategic Innovation framework weaves together seven dimensions to produce a range of outcomes that drive growth. Core Technologies and Competencies is the set of internal capabilities, organizational competencies and assets that could potentially be leveraged to deliver value to customers, including technologies, intellectual property, brand equity and strategic relationships... MoreThe Art of Innovation: 9 Truths By: Guy Kawasaki
Value Innovation: Two Fundamental Questions... Innovation: A Paradigm Shift... Principles for Driving Growth Through Innovation... Understanding Risks Perceived by Customers... Become an Easy-To-Do-Business-With (ETDBW) Firm... Apply 80/20 Principle... "When" Is a New "What"... Listening to Your Customer...Customer Partnership... Case in Point Dell Computers... Case in Point GE... Case in Point Amazon.com... Case in Point ABB...
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