The Innovation Catalysts
Each company wants to find profitability in innovative and design-driven products. The key to success is finding a unique approach to a company without the genius leadership of a visionary such as Steve Jobs. The Intuit company, which was attempting to break free from a stagnating performance, launched an initiative to redesign itself with the purpose of innovation. However, inspirational speeches and lectures on the wonders of design failed. An exercise that worked allowed the staff to participate in exploring their designs. The company did not require visionary leadership; the very grassroots of the company could revolutionize it.
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Intuit focused efforts on bringing innovation from the bottom up. This included educating the staff, providing means of voicing ideas, and encouraging innovative projects amongst the management team.
The company understood that it needed to acquire new customers rather than appealing to the existing base. Therefore, an innovative approach was developed to find out the customers’ “pain point” and find methods or innovative ideas on how to address the client’s needs. During development and testing, Intuit continuously worked with a relevant customer base to perfect its product. The core cooperation with their clients on business and personal needs gives Intuit the advantage of finding an optimal solution and expanding their customer base.
Since Intuit decided to focus on innovative design, the company has increased significantly. It continues to use similar methods, including the innovation catalysts which guide managers in developing unique project designs. The team was expanded and provided with resources to grow their capabilities. It was found that the catalysts were most effective when working cooperatively and having the company support.
Overall, it was the grassroots approach focused on experimentation that led the company to innovation. This was a significant risk taken by the CEO, but it paid off as Intuit now owns well-known brands including TurboTax. The company was able to expand its customer base, Net Scores, and revenue to become successful with the innovative strategy.