01. innovation typologies.

Much current thinking about innovation focuses on coping with unpredictability and happy accidents. But most trends are not so unpredictable once you understand the forces at work. It is about starting with the right innovation framework. Consider the following:

Business model innovation is about reframing the role of the company within the value chain. Re-defining how the company addresses unmet or unarticulated customer needs. It might involve an invention or application of technology and service design that can displace the present market leader or create an entirely new market. It might also involve adding a "second bottom line" to the mix - a focus on social impact alongside conventional fiscal measures.

Experience innovation is about making meaningful changes in a product or adding a service layer that drastically improves the customer's experience - creating delight, greater satisfaction, and reassurance. Product changes are often enabled by a combination of emerging technology and sophisticated interface design. Service design on the other hand is largely intangible. With no physical form and difficulty in benchmarking on an emotive level, understanding the end user is imperative in creating an innovative experience.