recentpopularlog in

jerryking : leading-edge   2

Where to Look for Insight
Mohanbir Sawhney Sanjay Khosla
FROM THE NOVEMBER 2014
Innovation isn’t a department. It’s a mindset that should permeate your entire enterprise.

No matter the venue, the feedstock for innovation is insight—an imaginative understanding of an internal or external opportunity that can be tapped to improve efficiency, generate revenue, or boost engagement. Insights can be about stakeholder needs, market dynamics, or even how your company works.

Here are Seven Insight Channels
Anomalies

Examine deviations from the norm
Do you see unexpectedly high or low revenue or share in a market or segment? Surprise performance from a business process or a company unit?

Confluence

Find macro trend intersections

What key economic, behavioral, technological, or demographic trends do you see? How are they combining to create opportunities?

Frustrations

Pinpoint deficiencies in the system

Where are customer pain points for your products, services, or solutions? Which organizational processes or practices annoy you and your colleagues?

Orthodoxies

Question conventional beliefs
Are there assumptions or beliefs in your industry that go unexamined? Toxic behaviors or procedures at your company that go unchallenged?

Extremities

Exploit deviance
What can you learn from the behaviors and needs of your leading-edge or laggard customers, employees, or suppliers?

Voyages

Learn from immersion elsewhere
How are your stakeholders’ needs influenced by their sociocultural context?

Analogies

Borrow from other industries or organizations
What successful innovations do you see applied in other disciplines? Can you adapt them for your own?
trend_spotting  creating_opportunities  customer_insights  HBR  analogies  anomalies  trends  pain_points  assumptions  innovation  insights  conventional_wisdom  travel  laggards  copycats  dilemmas  extremes  orthodoxy  immersive  deviance  learning_journeys  leading-edge  unexpected  mindsets  frictions  revenue_generation  opportunities  opportunistic  consumer_behavior  feedstock  toxic_behaviors 
november 2014 by jerryking
A dizzying world of insight lurks beyond the averages
Aug 27, 2007 | The Globe & Mail pg. B.6 | by George
Stalk Jr. "A gloriously rich world is hidden from us by "averages." We
manage our lives and our businesses with averages....But as soon as we
choose an average on which to make a decision, we cut ourselves off from
more nuanced information that might lead to a better
decision....drill[ing] down behind the averages can yield rich insights.
What businesses are we in? Where are the opportunities to raise
prices? How fast can we grow this business? How much time does it
really take us to do things? Other intriguing, insightful questions
include: How much money does it take to run this business? Just what do
our customers want? Where do we make our money in this business? Who
are our real competitors? Do our averages conceal sources of
competitive advantage? Looking behind the averages often yields new
strategic and operational paradigms that can help make better decisions
and ensure they are acted upon daily.
+++++++++++++++++++++++++++++++++++
identify anomalies in the first place. Knowing the average margins and market share isn’t enough; look at the entire range of outcomes—across customers, geographies, products, and the like. This allows you to surface out-of-the-ordinary results for closer inspection. (June 18, 2007 | G&M pg. B8 | George Stalk Jr).
+++++++++++++++++++++++++++++++++++
base_rates  George_Stalk_Jr.  strategic_thinking  insights  BCG  management_consulting  competitive_advantage  questions  extremes  laggards  decision_making  anomalies  leading-edge  quizzes  ratios  second-order  averages  5_W’s 
october 2009 by jerryking

Copy this bookmark:





to read