Value obsessed

When it comes to innovation, there are two perspectives that trump all others.

First is the customers' perspective, or benefactors' if we are talking about social innovation, since they are the ones who stand to gain the most. Innovators must understand how the aforementioned perceive value so they can make an informed decision about what to focus on and how to communicate the value to them.

Second is the organisations' perspective. Whatever form or shape might the innovation at hand be, innovators must also understand what is valuable to the organisation itself. Failing to do so might lead to innovative ideas being reject, not because the customers are not buying, but because the idea itself is perhaps not generating sufficient value for the organisation itself or is not aligned strategically.

Understanding the above two perspectives dramatically improves the success odds for any innovation initiative.