Business Challenges and Innovation
Geplaatst op 8 april 2019 door Ronald Swensson

There are business challenges in which innovation is mostly the answer: 

1. How do we empathize with our customers and profit from it? 
Businesses have understood that to be profitable, they need to provide value offerings that meet the needs of their customers. Therefore identifying unmet needs of your target customers by learning about them and uncover behavioral insights. These insights are used to improve or develop new value offering(s) to satisfy the unmet needs of your (new) customers. 

2. How do we evaluate which ideas to develop further? 
Every organisation has ideas! These ideas need to be validated by target customers before they can be developed further into practical innovation. On you find the tools for this proces.

3. How do we commercialize our (technology) invention? 
Commercializing an idea into the market requires research on how users behave and interact with that idea. Again, you find the tools for this proces. 

4. How do we predict the uncertain future? 
When businesses are not able to foresee and keep up with emerging trends, this usually has a negative impact to their bottom line. From disruption to changing needs, their ability to sustain competitive advantage declines, if not disrupted. In order to stay relevant, you need to identify emerging trends, develop scenarios, and create innovation from scenarios based on trends. Again, you find the tools for this proces.

5. How do we develop solutions to realize our visions and get around trade-offs? 
You have a vision that needs to be realized. In some cases, you may need to redefine or change its future direction on what business you are in and which market you should be doing business at. Therefore, converting a vision into reality is achieved by creating an innovation roadmap that is designed to scale for growth through iterative strategic planning. 

6. How do we deliver our brand promise to customers? 
Brand promises are communicated constantly with the expectation that these promises are delivered. For brands to turn their brand vision and deliver their promises to their customers, experience innovation is required to keep their promises through the implementation of value offerings delivered in a compelling experience. It's time to surf to where you find the tools for this proces. 

7. How do we execute our business strategy? 
Every company has a top-down business strategy that needs to be achieved over a period of time. Innovation that performs well in the market is partly due to the result of an effective strategy. Vice versa an innovation strategy executes what a business strategy aims to achieve. 

These are the most important challenges that businesses typically face in which business innovation is the answer. Regardless at which point of entry challenges are being solved, this will result in changing the status quo on how businesses create and deliver values to customers.