Structure your business innovation
Businesses must have an on-going desire to renew their existing service and product portfolio. Many analysts argue that especially the coming years will offer new business opportunities with the convergence of many technologies. This is certainly good news for for start-ups, but for existing enterprises with a lot of on-going business and legacy products, this scenario is sometimes perceived more as a threat than as a possibility.
One of the challenges for existing enterprises is that it is a tough exercise to pick and choose the right business opportunities and technologies in which to invest. The problem is that most businesses do not have a strict process for creating the best ideas and a system of how to evaluate which ideas have the best business cases. It is for this purpose that Glaze has expanded the Incremental Commitment Spiral Model with activities for Business Innovation within Internet-of-Things.
The Incremental Commitment Spiral Model
The Incremental Commitment Spiral Model is a risk-based framework for developing systems of systems. Risk-based means that in order to move to a new phase the overall risk in the project needs to be at a lower level. The principles of the development model is e.g. used by Nasa in order to encompass the development of systems of systems which have similarities to many Internet-of-Things projects.
Glaze's Business Innovation and Development Framework
Glaze's Business Innovation and Development Framework is inspired by the work carried out by Bosch and University of St. Gällen. Our Business Innovation Framework encompasses activities for strategy alignment, idea creation, technical exploration and business case evaluation. Glaze's role in the Business Innovation phase consists of facilitating the client's journey through the phases by
- Interviewing stakeholders
- Facilitating ideation workshops
- Applying inspiration from IoT technologies, near field trends and relevant mash-ups
- Completing short explorations of select products and technologies
- Calculating business cases
- Preparation of project propositions and recommendations
- Pilot implementation
- Pilot Analysis
- Update Business Case
Everything is done in an iterative and risk-based manner, so that strategy can be aligned to new potent ideas and so that business cases are developed and rejected as the risk profile develops through the iterations.
Partner, Fredrik Svensson, Fredrik.email@example.com, +46 705 08 70 70