Creating a Search-Box
This method helps to initiate an innovation process. It combines the resource-based view (RBV) and the market/environment-based view (MBV) to find new fields for innovations. With this method a search-box is created that leads to potential changes or new products for a company.
Here is the cycle of this method:
1. Business Analysis (=resource-based view)
In the first step collect the following parts of an internal business analysis:
- What are the distinct values of your company?
- What are the main strategies?
- What are the main core competencies?
- What are the strengths, assets?
2. Environmental Analysis (= market-based view)
In the second step the following parts of an external business analysis are collected. Some relevant parts from the PESTL and SWOT analysis are taken:
- What are the current market developments? (technical, political, social)
- What are the current opportunities (trends) on the market?
3. Creation of the Search-Box
Now all aspects of the internal analysis are listed in the rows. The external aspects are listed in the columns.
Example:
External ->>
Internal |
Population gets older Less Children |
Constant using of mobile device |
High consumption level |
….. |
High quality |
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Specialisation |
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Loyal customers |
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Good relationship to customers |
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…. |
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4. Finding new Innovation field
The last step involves checking every cell for the potential to innovate. If a combination is found i.e. a cell which points to possibilities, find a slogan for it. The slogan is the title for a new innovation project.