Nov 30 2010

Discover: A Guide to Identifying Innovation Opportunities

Report  
Number  
226

In this issue of Filene's Innovation Ed Series, we address the oftentimes overwhelming first step in the innovation process—discover.

Executive Summary

Filene is accustomed to bringing you fish that we’ve caught. We also want to help you fish for yourself. Discover: A Guide to Identifying Innovation Opportunities is the first in a four-part Innovation series to deliver timely, insightful information about the practice of innovation from the worlds of business and academia.

What is the research about?

This issue addresses the often overwhelming first step in the innovation process—discover. The accompanying articles were hand selected from credible sources like Forbes and Harvard Business School to offer outside perspectives for bringing innovation into your credit union. Building the innovation competency- moving from a one-time event to an organizational capability- can take practice and focus.

Additionally, we encourage you to download the Discovery Worksheet. This action-oriented worksheet is full of thought-starters that can promote innovative thinking at your next team meeting.

What are the credit union implications?

When you hear the word innovation, it’s easy to imagine charismatic, creative, and possibly eccentric folks spontaneously coming up with world-changing ideas. But in reality, the practice of innovation is structured and deliberate. Organizations that learn from each other, apply tested methodologies, and connect to consumers can create new markets that can remain viable and profitable, even during challenging economic times.