Some people take too much time thinking about what to do that they almost always end up not doing anything.  That’s what we call analysis paralysis.  By the time they are done with data gathering and analysis, the opportunity may have been exploited or pre-empted by others and they will no longer be able to take advantage of opportunities.  What is needed is a quick synthesis rather than a detailed analysis.  Analysis is breaking up the whole into parts, including coming up with solutions to problems defined in scenario planning, while synthesis is assembling important facts together to come up with something new, or to offer new possibilities. 

Begin with yourself.  Ask yourself what problems or irritants do you have?  Can these be converted into a business opportunity?  In hospital care, Asian Hospital in the Philippines has a slimming spa offered to mothers who just gave birth, knowing they would want to return to their pre-maternity body figures, thus extending the relationship of the mothers with the hospital beyond just giving birth. Read more

Many companies, especially multinationals, like to talk about innovation. There are even some who include innovation as part of their core values; others even have innovation managers. 

Innovation has two elements – novelty in the industry and commercial success. In other words, it’s about creating new value that benefits your intended market. Here are six anomalies that companies may want to reflect on and from here, redirect their state of innovation practices. Read More

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