Ideas of business innovation do not occur overnight, as is the popular notion. Instead there is a thorough process to be followed behind that. Several companies set up cross- functional teams, with the idea to re- imagine their existing business model. Some unconventional practices may be undertaken when overtly ambitious big leaps forward do not take off. One such method is to read works of science fiction. This helps the mind engage with bigger strategic ideas. Modern concepts such as mobile phones, credit cards, robots, self- driving cars, ear buds and atomic power were all foretold by science fiction writers such as Bellamy, Asimov, Wells, Bradbury and Capek. Another idea is to engage in analogies as this focuses on the “uncertainty principle”. A third method is the first principles logic. This reexamines the status quo by studying the foundational principles , before redesigning from the bottom up. Using exaptations to explore adjacencies is the fourth such approach. An exaptation is one where a characteristic is adapted verbatim for an entirely different use.

Source:https://hbr.org/2019/01/when-your-moon-shots-dont-take-off?utm_medium=social&utm_source=twitter&utm_campaign=hbr

Uploaded Date:14 October 2019