Innovation can look different at each company, depending on the type of innovation.
1. Continuous Adapters – adjusts product portfolio to reflect new trends/consumer preferences
(i.e. McDonald’s is not just “fast” and “convenient,” but now “healthy” and “natural”)
2. Ambidextrous Players – exploits existing strengths and explores new areas
(i.e., Google’s advertising revenue, as well as GoogleX)
3. Industry Shakers – drives industry change
(i.e., Amazon threatening eBay, Walmart, Target, Toys R Us, etc.)
4. Portfolio Shifters – adjusts emphasis over time through acquisitions and divestments
(i.e., GE entering energy and healthcare)
What type of innovation does your organization employ: adapter, ambidextrous, shaker, or shifter?
