Category: Quick Insights

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.

 

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No one can predict the exact economic and market changes that will occur in the next few years or their impact on specific industries. As you know, these pressures include inflation, technological advancements, customer behavior, debt levels, employee skills, and government regulations, just to name a few.

Yet, there is a solution. Creativity is a proven tool you can use to attack and overcome these pressures. Creativity can be a transformative tool to turn economic pressures into opportunities by rethinking problems, discovering new possibilities, and innovating traditional and new constraints. 

Here are a few ways creativity plays a pivotal role in this transformative process. To start with, there are many different creative techniques you can use to reframe challenges as opportunities, innovate problem-solving solutions, including process innovation, explore different business models, and retain customer loyalty.

There are over 20 creative techniques you can use to get the results you might need to achieve your goal of turning economic pressures into creative opportunities. Don’t wait until you are forced to come up with risky answers quickly.

 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 reply quickly.

Cheers, Jim Zitek

I help companies create their competitive advantage.

Brainstorming is one of many creative techniques for solving problems and generating new ideas to help your company grow. You can quickly invite a diverse group of employees to a meeting and ask them to generate ways to meet a specific objective.

Brainstorming can be a quick and inexpensive way to create new ideas. 3M company used it to create Post-it notes after the initial research failed.

If you encourage everyone to participate, brainstorming can quickly generate many ideas. Additional sessions can then be held to identify the most promising ideas.
However, to generate many ideas -good and bad- you need to suspend criticism and judgments to get people to participate.

There are some downside issues as well. First, remember you are after quantity rather than quality. Also, some participants overshadow others, and based on rank, that could be a problem. It could reduce the volume and selection of ideas generated.

In today’s fast-paced business economy, generating fresh, innovative ideas is crucial for creating and maintaining a Competitive Advantage. Brainstorming can be a powerful creative technique that can unlock the innovative potential of individuals and teams.

As with any new product or service idea, it’s still crucial to conceptualize and test the potential of brainstormed concepts before committing to a budget for their design and implementation.

Cheers, Jim Zitek

I help companies create their competitive advantage

If you have any comments or questions, please send them to me at jzitek@harborcapitalgroupinc.com. Thanks.