Many companies such as H&M operate in the Charity sector, setting up foundations that are involved in identifying and organizing donations aimed at solving specific problems. Obviously, our Blog does not have as its purpose the study of these foundations, but we want to take the opportunity to identify, and make a minimum of analysis, on a type of Innovation.
In particular, the idea of writing this post came to me yesterday (23/05/2017) when I read on the AdnKronos website “With a donation of 20,5 million dollars and new global programs lasting three years, the non-profit H&M Foundation is committed to education, clean water and women's empowerment... " (you can continue reading by clicking here).
The news reminded me of the phrase: "to innovate it is necessary to identify the important problems and analyze them in a systematic way to obtain refined solutions", strange ? no, not at all. In fact, my thoughts immediately went to the book "The Ten Types of Innovation" (by Larry Keeley, Ryan Pikkel, Brian Quinn, and Helen Walters), from which the phrase was extrapolated. I therefore tried to understand, thanks to the donation, how the mix of types of innovation that H&M already had in place should evolve, following the criteria defifrom the book itself.
Larry Keeley defiends a periodic table of the elements of innovation, which provides 10 different types grouped into three categories:
Using the 10 types of innovation to analyze a company, it is possible to create the innovation map of the market in which the company operates. To do this it is necessary to go into the 100 tactics described in the book, where every tactic is associated with a type of innovation.
Looking at the 100 tactics, I found that customer engagement is enhanced, thanks to the Community and Belonging factor and the Status and Recognition factor. But above all, the Brand is strengthened thanks to a very important alignment of values. Considering that H&M has always been innovative in all three categories, this can be done defifinish “Innovation of Experience”.
H&M's strategic framework is strengthened, with a consequent push in the continuous search for the Blue Ocean of the market.
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