Innovation Project Identifies New Markets Worth 15% of Corporate
Revenue
Organization: Special-interest
publisher
Situation: Following 25 years of rapid growth, sales had plateaued,
and cash flow had dried up. The company sought new avenues to restore
growth. Management also wanted to promote innovative thinking among
employees.
Innovation Skills/Methods Applied:
Strategic Innovation Initiative
“Deep Dive”
Skilled Interviewing
Analysis of User Observation
Journey to the Future
Guided ideation (brainstorming)
Rapid Estimation
Rapid, Iterative Prototyping
Results: Our consultant led the
client team in a challenge-based innovation project.
The team identified two untapped markets with the potential to
increase corporate revenue by 15%, and invented solutions to serve
those markets. The company’s board of directors approved the
development and launch of those solutions. In addition, the team
adopted an innovative approach to problem-solving and became competent
in the use of world-class innovation tools.
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