Doing Things Not Done By Others

A key innovation characteristic is doing things not done by others. A well known luggage company in India, was deeply concerned about the high cost of transporting the bags. During a brainstorming session, one of the members asked, “Why do you transport – all the bags are just full of air”. A nesting system was created, where one bag sat snugly inside a larger bag. The reduction in cost resulted in the company buying up its nearest rival and enjoying a virtual monopoly for many years. The first mover advantage in innovation is the key to high profits.