Fall 2010 issue of Horizons

Innovation: The process by which an idea or invention is translated into a good or service for which people will pay. – BusinessDictionary.com

In today’s environment, all three of these strategies: low cost, high quality and velocity have become barriers to entry to most markets. Being able to distinguish your products or service through innovation has become the differentiator between average companies and those businesses that continue to grow and flourish. Integrating Innovation Into Your Business So how does innovation happen and how can we make it a part of the way that our business operates? This was the question discussed at the Breakthrough Management Group’s Global Customer Summit that was recently held in Denver, CO.

breakthrough innovations. To do that, you must do more than improve the current process or product.

Steps To Achieving Innovation Step one in innovation methodology is to ask a different question. Most companies ask themselves “how do we make our product better?” But to come up with real breakthroughs, you must first understand “what is the job to be done?” For example, instead of asking yourself how you improve the way that you mow the lawn, think about what job is to be done – having a well

Much like skills in lean manufacturing have been central to the success of many manufacturing businesses, innovation must become a core competency if your business is to be successful. That means that you must have a structured methodology to ensure that your business produces fresh ideas and creative problem solving. Those companies that have invested in and embraced lean and Six Sigma strategies have started on this journey. Continuous improvement of your current processes and products is at the core of the lean philosophy. This type of innovation results in alteration in product characteristics instead of a new product. However, it does not produce the revolutionary or

www.rubinbrown.com

44