6 Primary Vectors of Innovation

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Regardless of industry or sector, each companyoffers elements that areof interest to the market they serve. To better serve that market, the company must innovate.

Success = Innovation

CompanyCapabilities

Elements of value to the market

vector / v kt r/ a direction or ˈ ɛ əcourse to be followed by an airplane, missile, or the like.

Innovation comes from six primary vectors.

Surprisingly, these vectors are consistent across a wide range of company types & industries.

Check it out for yourself…

The most commoninnovation vector is the augmentation of existing capabilities of the companyto provide a unique market value.

(Think new releases of existing product such as a new model year vehicles. Some innovation but limited)

CompanyCapabilities

#1Compete

This innovation vector is the creative combination of existing capabilities to provide something new to the market.

For example, using the automotive industry again, the S.U.V. combined a truck chassis with passenger capacity.

CompanyCapabilities

#2Combine

+

When a capability is not unique, one innovationvector available is to shift the context of the offer by repackaging or addressing adifferent market.

(Think brand extension, going wholesale or white labeling)

CompetitorCapabilities

CompanyCapabilities

#3Context

CompanyCapabilities

CompetitorCapabilities

#4Copy

Call it a creativeemulation, market adaptation or just plain‘me-too’ism, sometimesplaying catch up is required. Copying a competitors capability is the cheap shot of innovation vectors.

CompanyCapabilities

CompetitorCapabilities

#5Create

This is a true vector ofinnovation, recognizing amarket need and creatinga product or service that addresses that need.

It can be magical if you get it right and disastrous if you get it wrong.

CompetitorCapabilities

CompanyCapabilities

3rd PartyCapabilities

#6Collaborate

Partnering to gain missing capabilities is a tried and trueinnovation vector. The challenge in selectinga partner and establishing a working relationship is offset by flexibility and speed to market.

CompeteContextCollaborate

CopyCombine

Create

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