10 Types of Corporate Innovation

In the last years, the corporate startups (startups created by stablished companies) begun to take the scene like one of the best options for entrepreneurs. Many accelerators around the globe are considering the corporate model like an option or a business opportunity.

“The discipline can build breakthroughs” – Doblin

For companies, the innovation is not new. For many years they have been looking for the next improvement, the next idea, the employee who will define the future of the business. It can be complicated to talk about innovation at the level of Fortune 500; in some way they have found processes and policies to make innovation their culture. But what about the rest? Many best practices, workshops, new R&D departments… and innovation is still being a goal instead of a road.

Corporate Innovation

For both, entrepreneurs or companies, the corporate innovation is a source of many business, with proved business models, markets, channels, etc. Looking inside to what has been done, instead of creating new products from nothing, sounds more attractive.

Innovation, like a systematic approach, can be a better way to find new techniques to improve. Doblin suggest 10 types of innovation to apply in different perspectives at the companies:

  1. Profit Model: How you make money? New payment options, new customer habits are leading to new revenue models.
  2. Network: How you connect with others to create value? We live in a global village, how you play a global role can be an opportunity to make new business. Just go to your computer and find partners, mentors, suppliers or talent.
  3. Structure: How you organize and align your talent and assets? Your assets is the only way to create value, how you push them to do it. Structure, policies, knowledge, vision and more.
  4. Process: How you use signature or superior methods to do your work? Operations, key resources, key activities, focus on them. Discover which is the usual model to do your job, and what you can change.
  5. Product performance: How you develop distinguishing features and functionality? The common innovation focuses in the value, features or performance that you can offer on your products.
  6. Product System: How you create complementary products and services? Looking around your currently products or customers’ needs helps to understand what other services you can offer.
  7. Service: How you support and amplify the value of your offerings. Around your core products there are a lot of opportunities to make your customers happy.
  8. How you deliver your value. Different industries are changing every day; people, buy, use, and want products in different ways. Is time to experiment with different channels.
  9. How your customer see your business. Work with this intangible and important asset of your company
  10. Customer Engagement. How you foster compelling interactions. Where are your customers? Where you can find new of them? How you attract them?

Many corporate startups or entrepreneurs are growing this year. Let´s see how fast.

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