When a problem is challenging to solve, or you require an exceptionally creative idea to exploit a potential market opportunity, which of the many creative techniques available would maximize your benefits?
Traditional Thinking or vertical Thinking is a systematic and logical approach. It follows established rules and pathways to arrive at solutions. It relies on sequential steps, continuously moving towards an objective. It is also rooted in past knowledge and proven methods.
For example, the TRIZ method, or the “Theory of Inventive Problem Solving”) method for technical or engineering challenges. TRIZ can also be used to improve ideas from other techniques like brainstorming.
Lateral Thinking was created by Edward de Bono in 1967. This unconventional approach encourages looking at problems from different angles. It’s about breaking from established patterns to explore creative solutions and unexpected conclusions.
Lateral Thinking is about taking advantage of how the mind works by disrupting learned patterns pr information and creating a new pattern that isn’t immediately obvious.
For example, Uber applied Lateral Thinking to the taxi industry by leveraging technology to match drivers with passengers directly, bypassing traditional taxi dispatch systems. Netflix, initially a DVD rental service, used lateral Thinking to pivot and dominate the video streaming industry.
Note: I will write about these creative techniques in upcoming messages, so stay connected. Learn how each creative technique can help you solve problems and create new opportunities.
To learn more about creating a Competitive Advantage, visit my website or email me at jzitek@harborcapitalgroupinc.com. Do you have a specific question? Let me know what it is here, and I will get you an answer.
Cheers, Jim Zitek
I help companies create their competitive advantage.
