Selecting Innovation Challenge projects

challenges 1We help you run innovation challenge projects for better competitive advantage. Alternately, you may want us to work on them speedily all by ourselves and deliver results directly.

So, what are some examples of such projects? Obviously, the answer depends on how you define innovation and/or competitive advantage.

The domain i.e. highly technical or pure marketing, new age industry or traditional industries, product or process does not matter. Good systematic thinking helps in all cases.

Does innovation necessarily mean something new? How ‘new’ should it be to be labelled ‘new’? Does it need to be a breakthrough? Is competitive advantage a factor of revenue or market share? Isn’t market share valued solely for its ability to generate revenue, though in the future?

It appears that revenue, whether today or tomorrow, is the core factor.

In any case, that decision has to be yours. We can help you get whatever you value. It could be any of the following –

  • Increase profit margins by —– in existing business.
  • Increase market share —— in exiting business
  • Find new business opportunities.
  • Find a good business model for my start-up.
  • Suggest changes to my business model for —- benefit.
  • Find ways to enlarge existing markets of —–.
  • Recommend improvements to existing product – cost cutting, complexity reduction, feature improvement etc.
  • Find new market for my existing core competencies.
  • Develop a product/process for —– market.
  • Find a solution to this problem ——-.
  • Predict the course of evolution of my technology/business, so I may be forewarned.
  • Find new ways of achieving a desired function by technologies other than those I already know.
  • Benchmark my product/process against its potential or another given product/process so that the white spaces show up clearly.