Special Report: 10 types of innovation

Read about a framework to help you understand how innovation can truly impact all elements of your business.

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Special report introduction

Globally, society is going through a period of radical change. The traditional powerhouse companies and industries are being usurped by upstarts in the technology and service industries. More and more this innovation is being spearheaded by smaller, more nimble companies that are able to innovate and adapt faster and more efficiently than the big players in the market. Unburdened by cumbersome legacy technology and outdated practices, which weigh down the big players, these companies have the agility to innovate allowing them to successfully grow to massive proportions.

It can be a daunting task for a company to consider where to begin when it comes to defining true innovation. Fortunately, Deloitte owned innovation firm Doblin has come up with a solution. They have broken down innovation and developed a framework, the ‘ten types of innovation’ model. A framework for businesses to recast their notions of innovation and develop a means through which to understand how innovation can truly impact all elements of their business.

This special report will explore the ‘ten types of innovation’ framework with respect to the wealth industry, with a view to help you see your business in a new light.

Contents

1. Profit Innovation: How your business makes its money
2. Network innovation: How to get the most from your connections
3. Structure innovation: Making the most of your assets
4. Process innovation: How to gain from advanced technology
5. Product performance innovation: Improving features and functions 

6. Product system innovation: Developing your ecosystem
7. Service innovation: Supporting and amplifying your offer
8. Channel innovation: How to deliver your value
9. Brand innovation: Building the identity and personality of your company
10. Customer engagement innovation: Going beyond the sale