A recent article about value innovation was recently written by Gregory J Dunn, mentioning the need for businesses to improve "their ability to apply creative thinking to real-world business challenges." He underlines the need for MBA programmes to offer more material on this need to understand the intersectionality between management, technology and design.
The need to create innovative and captivating products is not new. Large and small businesses all needed and need, respectively, to adopt some type of human-centered design when coming up with a product or service to address a market. It is important to note that a purely human-centered approach would not bring value innovation to market because it would not balance buyer needs (Buyer Value) and business goals (Costs).
Understanding human needs and adopting a human-centered design strategy alone do not constitute a Blue Ocean Strategy. Executing a Blue Ocean Strategy to bring value innovation to a new market can bring commercial success and growth. Human-centered design in the context of a Blue Ocean Strategy must, equally, take into account the business imperatives and context; creating a new ocean where one can exist for a particular business. These include financial, historical, operational & logistical, etc.
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