The Innovation Kitchen Pilot Project is a first-of-a-kind targeted at the non consumption market and grassroots innovations as it seeks to place innovation in the front burner of business ownership in Nigeria. It also seeks to create a culture of innovation in the Nigerian business landscape.
We believe that in order to create new markets entrepreneurs and organizations need and should be innovative. Innovation can occur from different sources and come in various forms, but only those who build innovation capabilities can sustain growth and profitability. Our tailor made consulting is designed to introduce and build innovation capabilities into people and teams, implementing innovation processes and optimizing their organisational structure to support innovation. Our work involves analyzing the current situation, making recommendations based on the best practices and implementation.
asses your portfolio and identify sources of growth Defining the growth strategy is the very first step of planning to launch innovation in any company, as it defines the areas However, the quest for new sources of profitable growth is more challenging than ever, only a few companies being successful at managing a portfolio of innovation initiatives in a strategic manner. With large access to information thanks to the Internet and current trends, there are plenty of good ideas around. The challenge, however, is to select and execute the right ones and to bring them to the market in a timely fashion. Our work with clients involves an assessment of their existing portfolio, be it of companies or business units, products and services or innovation initiatives.
Customer experience innovation looks at the delivery aspects of products and services to create outstanding value of the buyer. Often a good product or service is not enough to bring success in itself. Companies must look beyond the product or service and understand what the customer needs (and aspires to) before and after the use of that product or service. Few companies understood that a great customer experience is the secret ingredient to success. Apple stores, Starwood Hotels or Amazon are powerful examples of companies that set highest standards for customer experience. Our role is to help companies understand where are the “pain points” that users encounter along their experience cycle. Moreover, we push our clients to challenge their industry assumptions and strive to create additional value for buyers.
Creating products and services that customers like and buy buy Product / service innovation can refer to both developing new better products or services or to improving existing ones. The innovation process pursuing product or service innovation involves an analytical step, for identifying the problems faced by users, and a creative step for generating new ideas for how these problems could be addressed and how additional value could be created. Our goal is to go beyond improving existing products or services or creating marginally better ones. We constantly strive and push our clients to look for breakthrough innovation, products or services that create a leap in value for both the customer and for the company. Our approach is based on Design Thinking and the Blue Ocean Strategy formulation process, which helps managers working in cross-functional
Creating, delivering and capturing value in innovative ways Business model innovation is the most powerful form of innovation, both in terms of in terms of sustainability and of growth/profitability. The concept refers to creating different ways of enabling an organization to create, deliver and capture value. While not a new approach, certainly these days the number and speed at which these innovative business models are changing the industry landscape is unprecedented. Some powerful examples include iTunes, Skype, ZipCar, Nespresso or Daily Maersk, to name just a few. Our engagement is based on working collaboratively with our clients to get a clear and common understanding of the existing business model. The main areas of the business to analyze are customers, offer, infrastructure and financial viability. This is followed by a creative step where we investigate how additional value could be created, delivered and captured, by looking across all the building blocks of a business model and the relationship among them. The former include value proposition, customer segments, channels, relationship, revenue streams, key resources, activities, partnerships and cost structure. The whole process involves several stages, from understanding, ideation, to strategy formulation, prototyping and implementation.
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