Innovation Opportunities in Professional Services
So we have a clear definition of what constitutes innovation, but in what ways can businesses innovate? It is helpful to think of an organisation, such as a business, as a point surrounded by empty space, which represents potential innovation areas. The organisation can choose to push outwards with innovation into this space. A useful model, based on academic research is what I call the ‘Dimensions of Innovation’ model. This identifies four ‘dimensions’ in this potential innovation space in which an organisation can choose to innovate (see Figure 6.1). The centre of the circle in the model represents the ‘Do Nothing’ state. An organisation can then innovate in a number of the dimensions – the further out the circle is pushed, the higher the degree of innovation.