Monday, August 12, 2013

Opportunity landscaping breaks down the imaginary walls built through industry

Tasty Food Abundance in Healthy Europe
Tasty Food Abundance in Healthy Europe (Photo credit: epSos.de)
Exclusive First Read Every week through October 2013, we will post a short excerpt from our Summer Innovation Book Club Pick: Killing Ideas - You can kill an idea, you can't kill an opportunity By NewEdge CEO, Dr. Pam Henderson

Opportunity landscaping is a creative, insight driven, bottom up process for which different organizations will arrive at different territories. In fact, two companies in the same industry should define their opportunities differently! 

The markets they operate in may be the same but their capabilities and ecosystem relationships will be different, meaning their opportunities will not be the same. Two food companies may operate in the same industry but will arrive at different opportunities. 

One may have deeper packaging and design capabilities causing them to focus on premium and higher margin products, while the other may be stronger in their distribution causing them to focus on foods for convenience stores and food service. The capabilities determining the types of value they can create will vary, and their opportunities will take different shape.

Opportunity landscaping breaks down the imaginary walls. 

For example, across the board food companies are determining how they will go after the territory of health and wellness. Vegetable company Del Monte might be keen to leverage the insights of Dr. Oz, one of the leading voices in health, who has recently touted canned and frozen vegetables as the affordable approach to healthy eating. 

Hormel, maker of the iconic Spam, might focus on increasing protein in diets, leveraging their healthy turkey brand Jennie O. New Zealand-based dairy giant, Fonterra, may focus on finding ways to bring milk into new snacking occasions, as exemplified by their highly successful launch of Mammoth—a protein fortified coffee drink for men on the go. 

Alternatively, Whitewave, makers of Silk soy, rice, and almond milks, as well as organic dairy products, may focus on the origins of the food. 
... 
The ways a company defines these will be truly unique to them as a function of what they can bring to the table! - Killing Ideas, Ch 5, Big Spaces

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