Innovation happens when a team comes up with something brand new and brings it to market with astonishing success. But innovation does not always have to be about launching The Next Big Thing. CIOs, for example, constantly depend upon innovation to keep their organizations ahead of competitors. This quiz tests your knowledge of the kinds of innovations that enabled companies across a wide range of industries to achieve success. Can you spot the innovative concept with the company that put this innovation to good use. Questions and answers are based on the case studies featured in the book "Breaking Away: How Great Leaders Create Innovation That Drives Sustainable Growth – And Why Others Fail".
Q: When customers said they didn't want to post their photographs on social network sites, which cosmetic company came up with a digital, customized “perfect look” tool that women could have e-mailed directly to them?
A: Estee Lauder, as part of its “Your Beauty, Your Style, Your Profile” campaign.
Key Takeaway: Listen and learn from your customers' comments on Web sites and in social media.
Q: Which toy company used the power of narrative to turn a $30 million product into a $500 million-plus brand?
A: Hasbro, which sparked a sales surge and movie franchise by creating intriguing plot lines to revive Transformers. Key Takeaway: Use good storytelling to sell your vision.
Q: Which business had achieved innovation by answering this question: “If file-sharing works for addresses, documents, music and movies, why can’t it transfer voice data?”
A: Skype, which found no reason not to make it happen. Key takeaway: Innovation often stems from asking: “Why not?”
Q: Which food giant broke off a brand’s highly associated alignment with one particular product to embrace a more diversified approach?
A: Kraft, which greatly expanded its customer base by promoting Philadelphia Cream Cheese as a food for desserts, late-night snacks, tailgating, etc.Key takeaway: Think about broader applications for existing resources.
Can you think of other examples that demonstrate the critical ability to spot an innovative opportunity?
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