Dean of IIT Institute of Design, Patrick Whitney will show a novel yet simple framework that helps organizations see the how innovations in capability, business models and user understanding can support each other to increase the chances that great new ideas are realized.
Creating innovative ideas is easy; it is getting past organizational barriers to implementation that is difficult. Designers, entrepreneurs, and consumers are perpetually buzzing about "the next new thing", yet the failure rate is still very high. Startups and VCs can live with a 10% success rate, but this is not acceptable to mid and large companies, government agencies or NGOs. Innovation is often confused with new technological capability, but we now know that business models and understanding people’s needs are equally important. The problem is the people in each of these areas operate with competing conceptual frameworks and approaches that prevent adequate understanding each other. Progress in one area is neutralized by confusion and lack of stakeholder alignment.
Special thanks to Telefonica I+D and Wayra for hosting Patrick's talk in Madrid.