Innovating Around an Existing Core Product or Service

What do LEGO, GoPro, and CarMax have in common?

Wharton professor David Robertson says they all have a similar strategy for growth that involves building families of complementary innovations around a core product or service. It’s an approach to innovation that’s neither disruptive nor incremental, but rather somewhere in the middle. And Robertson argues it’s a strategy that any company, no matter the industry, should consider.

In this episode, you’ll learn how to use customer feedback to identify a product or service that can anchor a family of complementary innovations as well as how to prepare for common challenges.

Robertson is the author of The Power of Little Ideas: A Low-Risk, High-Reward Approach to Innovation.

Key episode topics include: strategy, innovation, growth strategy.

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· Listen to the full HBR IdeaCast episode: Low-Risk, High-Reward Innovation (2017)

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