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Innovation:"Key Questions to Ask"

Updated: Apr 7, 2020

Venkatakrishnan Balasubramanian, outlined five elements for us to think about when thinking innovation. To explore innovation from the lens of an entrepeneur these are just some of the key questions one would explore.

  1. Competitive advantage: Does the innovation deliver a unique competitive advantage?

  2. Business alignment: Does the innovation align with the key strategic focus of the business and its goals?

  3. Customers: Do you know who will benefit from your innovation?

  4. Execution: Do you fully understand the all the elements required for the innovation to succeed?

  5. Business value: Do you know the value the innovation will create for the business?

By exploring these questions as a starting point an entrepreneur can assess the novelty of an invention, applied to a customer and their wicked problem to determine that the 'solution' this invention delivers is in fact worth pursuing.


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