Here’s a sample of the findings included in this report:
- Services follow a less well-defined development path than products. While many firms have developed a systematic approach to new product development and innovation, few of them have developed a structured approach to service and business model innovation.
- Because of this lack of a development path for services, successful innovations tend to rely on a strong guiding hand from senior management.
- Prototyping, which is a well-accepted way to pilot test new product ideas, have not made the transition to modeling potential new services and business models.
- Successful service innovations tend to be firmly rooted in customer experience design – incorporating techniques such as empathic research methods and service artifacts.
- Companies that use a single innovation model to deliver both incremental and high-impact innovations tend to get only incremental innovations. This study demonstrates very strongly that high-impact innovations require a “second path” – a unique innovation framework – that is specially designed to meet the unique requirements of high-risk ventures.
This is an important research report that is a must-read for all innovators and entrepreneurs!
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