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    4ps Innovation

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    Binod Khatiwada
    The innovation mix or 4Ps model was developed by John Bessant and Joe Tidd to help businesses discover opportunities to innovate and improve in four key areas: paradigm, product, process, and position. The tool is used in planning to understand a business's current state and direction for innovation. It involves exploring potential enhancements in each of the four areas through a series of questions about framing the business, improving offerings, enhancing processes, and targeting positions. The findings are analyzed and reviewed regularly to adapt to market changes.

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    4ps Innovation

    Uploaded by

    Binod Khatiwada
    260 views1 page
    The innovation mix or 4Ps model was developed by John Bessant and Joe Tidd to help businesses discover opportunities to innovate and improve in four key areas: paradigm, product, process, and position. The tool is used in planning to understand a business's current state and direction for innovation. It involves exploring potential enhancements in each of the four areas through a series of questions about framing the business, improving offerings, enhancing processes, and targeting positions. The findings are analyzed and reviewed regularly to adapt to market changes.

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    The innovation mix or 4Ps model was developed by John Bessant and Joe Tidd to help businesses discover opportunities to innovate and improve in four key areas: paradigm, product, process, and position. The tool is used in planning to understand a business's current state and direction for innovation. It involves exploring potential enhancements in each of the four areas through a series of questions about framing the business, improving offerings, enhancing processes, and targeting positions. The findings are analyzed and reviewed regularly to adapt to market changes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    260 views1 page

    4ps Innovation

    Uploaded by

    Binod Khatiwada
    The innovation mix or 4Ps model was developed by John Bessant and Joe Tidd to help businesses discover opportunities to innovate and improve in four key areas: paradigm, product, process, and position. The tool is used in planning to understand a business's current state and direction for innovation. It involves exploring potential enhancements in each of the four areas through a series of questions about framing the business, improving offerings, enhancing processes, and targeting positions. The findings are analyzed and reviewed regularly to adapt to market changes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    What is this?

    The innovation mix or the 4Ps is a model that was developed by John Bessant and Joe Tidd. The
    tool enables you to discover what the innovation process can improve and bring to your business.
    The innovation mix, Paradigm, Product, Position and Process, is not to be mistaken with the
    market mix and its other 4Ps: Product, Place, Promotion and Public Relations.
    When and why is this tool used?
    In planning, the 4Ps helps you understand where you are and how you can innovate to improve
    your Product, Process, Position and Paradigm. It gives you a direction of where you need to go,
    and in which areas of your business that you need to innovate. The Innovation space supports the
    idea generation process and how you can incubate a new idea.
    How is this tool used?
    The tool helps you explore possible enhancements in each area of your business
    Step 1 (Paradigm: How do we frame what we do?):
    Use innovation to improve the way you do business. The change could be radical, but bear in
    mind that not all changes are always positive. Let your imagination take you to all the possible
    changes that can leverage your profit. That includes changes in your business model, like, for
    example, changing your published products from print to online platforms.
    Step 2 (Product: What do you offer?):
    Ask yourself and your team questions like, how can you improve your product or service? How
    can you make it more appealing and better than other available products?
    The suggestions can include ways to make your product better, known as incremental change.
    Another form of suggested innovation is making your product completely different or radical
    change.
    Step 3 (Process: How do you create that offering?):
    This doesn’t only include the preparation processes of your product or service. Think of all the
    steps you take, such as supplying, workflow, hiring people, and training. How can this all be
    enhanced to increase your profit? What are the latest trends to carry out those processes?
    Step 4 (Position: Where do we target the offering?):
    This area works on changing the context in which the products/services are framed. How are
    they communicated? How do people see you? Customers? Employees? The Public? How can
    you make this image get better?
    Step 5 (Analyze all your findings):
    Keep on asking questions until you reach satisfying answers. Write down your findings
    with all the information. Review your analysis regularly; it might change a little with the
    market growing.

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