I love this phrase “We are a Boutique Consulting Firm”, if this name wasn’t innovative enough I came across more details about this consulting company called “Innosight”. Clayton CHRISTENSEN and Mark JOHNSON founded this company because they really believed in the patterns of ‘DISRUPTIVE INNOVATION’. With the author of two books titled “Innovator’s Solution” and “Innovator’s Guide to Growth”(co-authored) this bunch of people guide companies to nurture innovation for growth.
Disruptive is a great adjective to define what innovation brings/does.
- Micro Financing is disruptive. It changed the way business of money was percieved.
- Twitter is innovative because it brought open API and mobile phone integration to a public web app.
- Procter Gamble’s ‘Whitestrips’ creates a new market by creating a new market by targeting non-consumers.
- Blog Talk Radio is disruptive because it is to merge the phone to web 2.0 (don’t know about how successful it will be..). Click here to know more.
- Creates New Markets
- Reshape Existing Markets
However there are constraints
- It has lower Profit Margins(atleast initially). Or it gets too expensive for a consumer to start.
- Innovations don’t address the needs of their best consumers
“Innovative products are successful when they connect with a circumstance and with a job which customers find themselves needing to be done”.
How and when would a customer find themselves in a circumstance to use a product. I think it is when the product is compelling enough. There cannot be a better example than i-pod. One heck of a device which sets new benchmarks in product design and innovation. The i-pod experiance is unparalleled and there is no soul left on this planet(barring the ones at the bottom of pyramid) who would have atleast not thought of using this wonder prod. More than the real design extravaganza it was popularized better by target users. Young and hip and happening. Also it’s an entertainment prod after all and who in this world does not need one.
Another Disruptive Innovation about everyday product …‘yoghurt’ …..transformed to….Go-GURT
Instead of improving on the attributes of yogurt itself, General Mills just introduced conveniance of eating it. It innovated to change product delivery. Go-GURT is packaged in a tube, which allows one handed consumption. Rather than sitting down with a spoon, children can grab Go-GURT and, as the name implies, eat it on the run.
Some Thoughts to Ponder..
Is it true that only large corporations with economies of scale and higher risk taking ability are able to innovate?
Where does this need to create disruptive innovations come from? Is it the need for growth or culture of creativity?
What is the last most disruptive thing MindTree did or for that matter big Indian names in IT services did?