Innovation is about capitalizing on new ideas. Easy to say, but few pull it off with any amount of grace. Fundamentally, it’s about delivering new value to the customer.
There are lots of ingredients needed to make innovation impactful, substantive and sustainable. One model, widely accepted, is by generating new products or services focused on feasibility, viability and desirability.
Feasibility addresses innovation from a technical point of view. Can we actually build this new product or service?
Viability addresses innovation from a business point of view. Can this new product or service fit in our business model?
Desirability addresses innovation from the customer point of view. What does the customer actually need or desire?
I firmly believe that a human centered design approach, addressing desirability, is the most impactful way to innovate.