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Innovation Workout

Innovation Workout. Create an Innovation that meets predefined specifications Use Assumption Reversals to provide Insight. Cycle Corporation (CyCo) Capabilities. Owns a chain of 50 bicycle shops Has a good reputation for: Large selection Service Accessories

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Innovation Workout

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  1. Innovation Workout Create an Innovation that meets predefined specifications Use Assumption Reversals to provide Insight

  2. Cycle Corporation (CyCo) Capabilities • Owns a chain of 50 bicycle shops • Has a good reputation for: • Large selection • Service • Accessories • It is a chain of specialty stores serving each stores local community • It is not a low cost seller

  3. Corporation X Capabilities • Key financial statistics: • Trends have started to worry management

  4. Corporation X Capabilities • Sales have been declining for 3 reasons: • Customers’ need for a bike is often satisfied with one purchase • Aging of the company’s customer base means that many no longer ride a bicycle • Urban sprawl has made using a bicycle for quick trips to work, store, or post office difficult, because the distances are too great

  5. ToDo • Help CyCo • Sell multiple bikes per customer • Sell to the aged • Sell bikes to commuters • How can you do this? • Innovate • Create some new products-services • Define a business model to commercialize them

  6. Use Practicum techniques to help you Create • False Faces (perceptual reversals) • Slice and Dice • Think Bubbles (Quizzing to understand the customers’ experiential context • The Idea Box (Dr. Fritz Zwicky’s morphological box)  • Cherry Split (fractionation) 

  7. Presentation • Detail on your paper to be handed in • The three best product-service innovations that you have created • How they look • What customer market would buy, and why • How this expands their market and reverses their downward slide in sales • How this makes them more profitable

  8. What to do with your Product-Services • What additional competences will you need to develop for your product-service? • What challenges may you expect from competitors? • How will you measure success? (Metrics)

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