# Ten Types of Innovation ## Metadata * Author: [Larry Keeley, Helen Walters, Ryan Pikkel, and Brian Quinn](https://www.amazon.comundefined) * ASIN: B00DZLBHU8 * Reference: https://www.amazon.com/dp/B00DZLBHU8 * [Kindle link](kindle://book?action=open&asin=B00DZLBHU8) ## Highlights Jack Welch, the former CEO of General Electric, famously commented in December 1997, “I take absolutely no comfort in where we are today.”2 Meaning that if you aren’t moving faster than the rest of the marketplace, you’re already dead; you just haven’t stopped breathing yet. — location: [542](kindle://book?action=open&asin=B00DZLBHU8&location=542) ^ref-8169 --- Once-mighty Kodak enjoyed a storied history before declaring bankruptcy in 2012. What’s sobering is that its executives were not, as conventional wisdom would have it, blindsided by the emergence of digital technology. Indeed, they were primary pioneers of the digital photography field. But, as is so often the case, these “new” areas were small and easily dismissed—while sales of photo and cinema film paid all the bills. — location: [546](kindle://book?action=open&asin=B00DZLBHU8&location=546) ^ref-14298 --- Innovation may involve invention, but it requires many other things as well—including a deep understanding of whether customers need or desire that invention, how you can work with other partners to deliver it, and how it will pay for itself over time. 2 Innovations Have to Earn Their Keep Simply put: innovations have to return value to you or your enterprise if you want to have the privilege of making another one some day. We like to define viability with two criteria: the innovation must be able to sustain itself and return its weighted cost of capital. — location: [561](kindle://book?action=open&asin=B00DZLBHU8&location=561) ^ref-46512 --- Innovations don’t have to be new to the world—only to a market or industry.3 — location: [569](kindle://book?action=open&asin=B00DZLBHU8&location=569) ^ref-59471 --- Innovation1 Is the Creation of a Viable2 New3 Offering.4 — location: [575](kindle://book?action=open&asin=B00DZLBHU8&location=575) ^ref-23814 --- Knowing Where to Innovate Is as Important as Knowing How to Innovate Striking oil or mining lithium depends far more on knowing where to dig than on the digging itself. — location: [580](kindle://book?action=open&asin=B00DZLBHU8&location=580) ^ref-64881 --- requires you to be comfortable with ambiguity and to wait for the answers to emerge. — location: [589](kindle://book?action=open&asin=B00DZLBHU8&location=589) ^ref-59207 --- It Doesn’t Count until It’s in the Market You haven’t finished the process of innovating until you bring the offering to market and you’re getting revenue for it. Or, for social or government contexts, you have — location: [591](kindle://book?action=open&asin=B00DZLBHU8&location=591) ^ref-11420 --- helped your stakeholders in a new and better way that can sustain itself over time. — location: [593](kindle://book?action=open&asin=B00DZLBHU8&location=593) ^ref-16830 --- Innovating Requires Identifying1 the Problems That Matter2 and Moving through Them3 Systematically to Deliver4 Elegant5 Solutions. — location: [598](kindle://book?action=open&asin=B00DZLBHU8&location=598) ^ref-49008 --- leap forward toward more rigorous and reliable innovation. — location: [626](kindle://book?action=open&asin=B00DZLBHU8&location=626) ^ref-35889 --- A new discipline of innovation is emerging today because: Companies need new discoveries and strategies to drive growth and survival. The pace of change requires greater flexibility and innovation effectiveness. Efficiency is no longer enough. Organic growth is critical to achieve breakthrough results. Innovation successes are now expected (and demanded) by customers and analysts. — location: [628](kindle://book?action=open&asin=B00DZLBHU8&location=628) ^ref-24487 --- At the heart of the book is our discovery: all great innovations, throughout history, comprise some combination of ten basic types organized within three categories. This is our Periodic Table. — location: [680](kindle://book?action=open&asin=B00DZLBHU8&location=680) ^ref-43787 --- The types on the left side of the framework are the most internally focused and distant from customers; as you move toward the right side, the types become increasingly apparent and obvious to end users. To use a theatrical metaphor, the left of the framework is backstage; the right is onstage. — location: [728](kindle://book?action=open&asin=B00DZLBHU8&location=728) ^ref-55454 --- In 2012, the Brazilian cosmetics giant, Natura, had an internal R&D team of some 250 employees—modest for a company with $3.4 billion in sales. But Natura punches above its — location: [889](kindle://book?action=open&asin=B00DZLBHU8&location=889) ^ref-16630 --- weight through a sophisticated network of relationships with 25 universities worldwide. Researchers contribute to an array of challenges in everything from skin science to sustainable technology. By 2008, 50% of the company’s product pipeline had come from its open innovation program. — location: [890](kindle://book?action=open&asin=B00DZLBHU8&location=890) ^ref-17521 --- Nike NIKETOWN stores were primarily designed to provide an immersive, impressive experience to shoppers. Stores often include treadmills so that runners can put shoes through their paces. — location: [1256](kindle://book?action=open&asin=B00DZLBHU8&location=1256) ^ref-43805 --- Google determines which sites on the web offer content of value and elevates these higher in its search results. It essentially remains a self-sustaining business: “As the web gets bigger, this approach actually improves, as each new site is another point of information and another vote to be counted,” reads its mission statement. Yet it wasn’t until 2000 that Google figured out a way to build a billion-dollar business. It was then that it introduced its integral advertising program for creating online campaigns connected to search terms; AdWords has been the money-generating backbone of Google ever since. — location: [1556](kindle://book?action=open&asin=B00DZLBHU8&location=1556) ^ref-51516 ---