The notes and videos on Business Innovation Framework are adapted from lecture notes by Ms. Raine Chin.

What Makes a Good Business Idea?

As you brainstorm for ideas, you can use the Business Innovation Framework to test whether your idea is desirable, feasible and viable.

Business Innovation Framework

Desirability

Are We Solving for the Right Pain Point?

Desirability tests whether your innovation is solving the right customer problem.

A test for desirability focuses on whether your solution is a nice to have or a must have for your customer.
Ask yourself, what task am I helping my customer complete?
If you are solving the key pain points they encounter when trying to complete this task, your solution has met the test for desirability.
If not, and there are other pain points that you haven’t addressed, then pivoting your solution might put you on a better path.

Are We Building on our Core Operational Strengths?

Feasibility tests whether your innovation strengthens your business.

Feasibility asks the question, how can we build this solution to make our business healthier and stronger?
It asks the organization to look internally and objectively assess their strengths — technology, financial, branding, customer service, partnerships, etc.
If a new solution can leverage >80% of current operational capabilities, and new capabilities can be built where an organization is already strong, it will strengthen the foundation of the company and the competitive advantage of the business.

Does Our Solution Contribute to Long-Term Growth?