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Value Innovation

This is a term that I have recently had to focus on. It’s not something new.
Yet we forget it quite easily in the humdrum existence that we lead.

It is about creating a leap in value for the buyers. This serves two purposes.
1. It makes the competition irrelevant – as the focus changes from competition to alternatives
2. It opens up new and uncontested market space.

The organization has to focus on both – value and innovation.
It is not about being the “first entrants” n the market or using “cutting edge” technology. History is witness to Technology pioneers opening the doors for others to trample over them.

It is generally believed that high customer value is synonymous with high cost. That’s not true.
It is essential to pursue “differentiation” and “low cost” simultaneously.

Hence it is important to integrate the functional and operational activities in an organization. The entire system has to be oriented to the LEAP!!!

That’s why Value innovation is the cornerstone to a Blue Ocean strategy (BOS).
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