An innovation is the successful commercialisation of an invention

On August 26th, I worked as an interpreter (English-Portuguese) for C2I at Cietep. It was about LCI (Low Cost Innovation). Frank Wagner and Flavius Sturm from Fraunhofer Institute for Engineering, in Stuttgart, Germany presented many case studies and some methodologies. The Value Curve, the Morphological Box, Story Tree, Core, Target Cost, Lotus Blossom and Kano proved to be very useful tools when deciding for innovative products to be introduced in an ever changing market. As it was a workshop, the participants could use the tools to create solutions and alternatives: different brand of wine, an alternative dinner and an electrical bicycle.

The Story Tree called my attention for its metaphoric quality, and therefore, educational properties. Comparing a business solution to a tree, you can imagine the soil, the branches, the weather it will be exposed to and the fruit it can bear. Fascinating concept! Not only organizations could benefit from that, but schools, teaching children how to think business.

And some tips....

When is the right time to think of LCI?

• you see that certain customers are unhappy with the current (high price) market offerings (“Our customers are going for cheaper alternatives…”)

• you feel that there are potential future customers, who cannot afford the current products.
(“This could be interesting for… if only…”)

• the current products offered on the market are quite homogenous and/or come in extremes.
(“There is only… or…, nothing in between.”

Be innovative ... and make do!!!!

You can find more information about the Institute at www.rdm.iao.fraunhofer.de

...and if you have any experience on innovation to share, please do!