Today, more than ever, companies looking to create new growth have tools at their hand to help reduce risk and increase the odds of success.
The Google Trends chart above shows a selection of “The Fantastic Four” and their relative interest over time.
Historically, Blue Ocean Strategy sees the most interest, but is slightly declining. Disruptive Innovation sees less interest among the four, but is growing. Both Lean Startup and Business Model Canvas are rapidly growing. The chart speaks for itself. But the comparison is only as good as what people search for on the web.
Although the frameworks take different angles on innovation, they are not mutually exclusive. They overlap and complement each other. And in many ways the later frameworks build upon the former, applying similar concepts in new wrapping.
In innovation there is no one-size-fits-all. So rather than looking at what are the popular tools, companies should look at what are the right tools.
Personally I find it useful taking a modular, “lego-like” approach, combining and distilling the methods into tailored frameworks, which is what I will look at in my next posts.
What methods and tools do you use? How do you combine them?