Innovating in Existing Markets: Reviving Mature Products and Services

There is considerable buzz around disruptive, revolutionary innovation—we’re constantly told we need to do more of it, in every part of our business. But what do you do when you have an existing product in an existing market that is being challenged? How do you revive those products and restart growth? This new program is designed to help you innovate around your existing products to make them more compelling, useful, and valuable.

How do you innovate and improve existing products or services? If all you create is incremental improvements, you’ll quickly become a low-cost (and vulnerable) commodity provider. But revolutionary, disruptive innovation is often expensive, difficult, and prone to failure.

This program focuses on a third type of innovation that is neither incremental nor disruptive. It’s an approach that many successful companies such as USAA, Sherwin-Williams, LEGO, Victoria’s Secret, Novo Nordisk, Gatorade, and Logitech have used in mature markets to revive challenged products and boost growth. This low-risk, high-reward strategy is an approach to innovation that all company leaders should understand so that they can recognize it when their competitors practice it and apply it when it will give them a competitive advantage. The program combines this “Third Way” innovation framework with Sloan’s Three Perspectives on Organizational Change framework to generate implementation plans for the solutions you create.

Through lectures, case studies, hands-on activities, and conversations with senior practitioners, you’ll learn a set of tried-and-true tools and techniques for generating creative solutions to organizational challenges. Our digital delivery over 3 days will also include the opportunity for you to apply new frameworks immediately to your own products/services – to generate immediate results for your business.

This program is designed for executives and senior managers with leadership responsibility as well as teams.