Digest...

There are four avenues that I believe provide a good structure for thinking about innovation in any organization – Experience, Offering, Process, and Business.

• Experience: Creating innovation through each encounter with a customer.
The way we interact with customers may be more important than the product or service we provide. As a result, there is a lot of room for innovation in these interactions. Often experience innovations take shape in terms of sales, marketing, and customer support.

• Offering: Creating innovation through a product or service.
Inside of the Offering Avenue you should also be thinking about the broader ecosystem around your offering as well as the way you serve your customers.

• Process: Creating innovation in external and internal processes.
We are really talking about internally focused innovations here. The processes that exist inside every business can either be a source of differentiation or a hindrance to growth. When thinking about your processes, it is good to understand which ones are core to your business and then work to optimize these core processes to create capabilities that are unique compared to competitors.

• Business: Creating innovation in the organizational structure or its relationships.
When was the last time you looked for innovative ways to change how your enterprise makes money? This could be through new markets, new business models or just through reducing costs.

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