Outcome-Driven Innovation - ODI
What Is Outcome-Driven Innovation (R) (ODI)? Based on the Whitepaper: What is Outcome-Driven Innovation? From: http://www.strategyn.com/ Innovation - is a business process; - begins with market selection; - uncover customer needs; - determine unmet needs; - select a growth strategy; - devise and evaluate product and service concepts; - approved concepts enter the development process. If the innovation process were executed effectively, only winning products would enter the development process, and product success rates would exceed 70 percent – a vast improvement over today’s 70–90 percent failure rates. Popular approaches - " ideas-first " (brainstorm and customers test) - large number of ideas - quickly and inexpensively filter - " if you fail fast and fail cheap, you have actually done your company a great service " - "If you want to succeed, double your failure rate" - Why it doesn't work: - more ideas does not improve probability of coming u...