Wednesday, September 12, 2012

The 7 sources of Innovation


Within the enterprise industry, there are seven different sources of innovation. Here I will be going through each one and respond to each of them. the first four are from within the enterprise industry while the last 3 are from the outside.
1. The first source of innovation is the unexpected this would include success, failure, or basically anything else that could happen. The unexpected comes every single day and it is hard for many companies and even innovators to cope with it. A company has to be extremely flexible if it is to survive. In other words, they have to expect the unexpected. A company and an innovator have to know if the failure of a product will put them under or if it's a success, they would be able to profit from it.
2. The second source of innovation is incongruity. An innovator has to be able to see something the way everyone else sees it and then a way that no one else sees it. In other words, an innovator is looking for something out of place that no one else see's. This out of place object can be a great source of inspiration for the innovator, and the innovator would never had noticed it if he looked at things the same way as everyone else.
3. The third source of innovation is process need. there are things in this world that people want or need. An innovator was able to look at something that was needed in society and was able to create something that fulfilled the need. An example of this is in many places around the world, if one slept outside, they would be bitten up by mosquitoes, and it was deadly in some places in the world. An innovator saw the need for something that would prevent people from getting bitten up, so they created the mosquito net that prevented people from getting bitten up at night.
4. The fourth source of innovation is changes in industry structure or even the market structure. this is one of the most interesting sources because in a way, it is the most dangerous. Innovators are able to keep even the largest companies in check for power because of this source. This is when an innovator comes up with a new process or product that completely changes the way business is done by businesses. An example of this would be when netflix came out. Video rental stores were caught completely off guard  and most of them went out of business because of it.
5. The Fifth source of innovation is Demographics. this plays a huge role in innovation. Basically it states that an innovator has to know the population that he wants to give his product to or who they're' going to make the product for to begin with. An innovator can't make a high price car to sell in specific city, and have it turn out that most of the residents in the city are poor and the city has no roads to drive on. An innovator has to know who or what the population is.
6. The Sixth Source of innovation is perception, mood, and meaning. This source is referring to the fact as to the ways that everyone else would see the product or idea. The idea or product has to be able to gain support from others almost as soon as they see it.
7. The Seventh and final source of innovation is New knowledge. If an innovator is to be able to come up with new ideas and compete with other innovators, they absolutely must be able to keep up with todays advances in technology and ideas. With these new advances, it could create inspiration for any innovator, and it could even open up the opportunity for an innovator to create a new advance in technology and ideas

1 comment:

  1. Good Job Dan! The 7 sources of innovation are very well explained!
    "An example of this would be when netflix came out. Video rental stores were caught completely off guard and most of them went out of business because of it."
    GREAT EXAMPLE! yes netflix and itunes movies definitely changed that whole industry around. This was a great subject to read about! and very useful information. Again good job and I look forward to reading your next blog.
    -Myles

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