Innovation in Business Strategy

Innovation isn’t just about new products. It’s about how you structure, deliver, and capture value—across your entire business model. In their book, "Ten Types of Innovation" (2013), Keeley et al. outline a powerful framework outlining no less then 10 types of innovation: Configuration 1. Profit Model – How you make money 2. Network – How you collaborate 3. Structure – How you organize 4. Process – How you operate Offering 5. Product Performance – What you offer 6. Product System – How offerings work together Experience 7. Service – How you support users 8. Channel – How you deliver value 9. Brand – How you're perceived 10. Customer Engagement – How you foster loyalty Most innovation efforts focus narrowly on the product. But real advantage comes from orchestrating multiple innovation types, often in combination. If you're looking for new strategic levers, this framework is a great place to start. Which of the ten are you already investing in?

The next wave of marketing innovation isn’t about automation alone — it’s about emotion. Which shoe would you get? AI today can recognize tone, facial expressions, and even micro-emotions in voice and text. This emotional intelligence is turning marketing from mass communication into personal connection. 🧠 Data speaks for itself: + 80% of consumers say they’re more likely to purchase when brands show they understand their emotions. (Capgemini Research) + Emotionally connected customers have a 306% higher lifetime value than those who are merely satisfied. (Motista) + 70% of marketers using AI-driven personalization report double-digit engagement growth. (Salesforce) 💡 Real-world examples: + Coca-Cola uses AI-powered creative tools to adapt campaigns to local culture and sentiment in real time. + Netflix’s recommendation engine reads emotional cues in viewing behavior to tailor what feels just right for each user. + Adidas combines AI sentiment analysis with influencer content to sense trends before they peak — turning feelings into foresight. This isn’t marketing as usual — it’s marketing that feels. When technology understands emotion, brand experience becomes unforgettable. #AI #MarketingInnovation #EmotionalIntelligence #CustomerExperience #DigitalTransformation #MarTech #BrandStrategy

Should you try Google’s famous “20% time” experiment to encourage innovation? We tried this at Duolingo years ago. It didn’t work. It wasn’t enough time for people to start meaningful projects, and very few people took advantage of it because the framework was pretty vague. I knew there had to be other ways to drive innovation at the company. So, here are 3 other initiatives we’ve tried, what we’ve learned from each, and what we're going to try next. 💡 Innovation Awards: Annual recognition for those who move the needle with boundary-pushing projects. The upside: These awards make our commitment to innovation clear, and offer a well-deserved incentive to those who have done remarkable work. The downside: It’s given to individuals, but we want to incentivize team work. What’s more, it’s not necessarily a framework for coming up with the next big thing. 💻 Hackathon: This is a good framework, and lots of companies do it. Everyone (not just engineers) can take two days to collaborate on and present anything that excites them, as long as it advances our mission or addresses a key business need. The upside: Some of our biggest features grew out of hackathon projects, from the Duolingo English Test (born at our first hackathon in 2013) to our avatar builder. The downside: Other than the time/resource constraint, projects rarely align with our current priorities. The ones that take off hit the elusive combo of right time + a problem that no other team could tackle. 💥 Special Projects: Knowing that ideal equation, we started a new program for fostering innovation, playfully dubbed DARPA (Duolingo Advanced Research Project Agency). The idea: anyone can pitch an idea at any time. If they get consensus on it and if it’s not in the purview of another team, a cross-functional group is formed to bring the project to fruition. The most creative work tends to happen when a problem is not in the clear purview of a particular team; this program creates a path for bringing these kinds of interdisciplinary ideas to life. Our Duo and Lily mascot suits (featured often on our social accounts) came from this, as did our Duo plushie and the merch store. (And if this photo doesn't show why we needed to innovate for new suits, I don't know what will!) The biggest challenge: figuring out how to transition ownership of a successful project after the strike team’s work is done. 👀 What’s next? We’re working on a program that proactively identifies big picture, unassigned problems that we haven’t figured out yet and then incentivizes people to create proposals for solving them. How that will work is still to be determined, but we know there is a lot of fertile ground for it to take root. How does your company create an environment of creativity that encourages true innovation? I'm interested to hear what's worked for you, so please feel free to share in the comments! #duolingo #innovation #hackathon #creativity #bigideas

Having this mindset will make you unstoppable: "I don't know how, but I'll find a way." This one thought fuels countless success stories. It helps you see challenges as opportunities. It keeps you moving forward when things get tough. Why This Mindset Wins: ✅ Resilience ↳ Overcomes obstacles with determination and grit. ↳ Bounces back stronger after every single setback. ✅ Creativity ↳ Finds solutions to challenging, complex problems. ↳ Thinks outside the box to achieve success. ✅ Adaptability ↳ Adjusts quickly to changing environments. ↳ Thrives in uncertain or unfamiliar situations with ease. ✅ Persistence ↳ Never gives up, no matter the challenge. ↳ Keeps pushing until success becomes inevitable. But here’s the truth: In today’s world, mindset isn’t enough anymore. To lead successfully, you need more than grit. You need the right tools, strategies, and systems. And that means leveraging technology effectively. How Technology Fuels This Mindset: 💡 Resilience Meets Automation ↳ Automation keeps you moving through tough times. ↳ Tools like AI help overcome common setbacks. 💡 Creativity Amplified by Innovation ↳ Technology sparks creativity and problem-solving. ↳ AI tools like ChatGPT save hours and effort. 💡 Adaptability Enhanced by Data Insights ↳ Real-time dashboards help leaders pivot. ↳ Data-driven decisions make adaptability effortless. 💡 Persistence Simplified with Efficiency ↳ Technology eliminates time-wasting tasks instantly. ↳ Less busywork, more focus on what actually matters. How to Start: 1️⃣ Embrace Digital Challenges ↳ View technology as a tool, not a threat. ↳ Test tools that simplify, automate, or organize tasks. 2️⃣ Stay Curious About Tech ↳ Ask your IT provider why certain tools are used. ↳ Take online courses to learn AI and cybersecurity. 3️⃣ Build a Tech-Driven Network ↳ Connect with peers using technology to drive results. ↳ Partner with experts who align with your goals. 4️⃣ Track Small Wins with Tech ↳ Use CRMs or apps to measure your growth. ↳ Celebrate every way technology simplifies your life. Steps You Can Take Today: 📌 Audit Your Tech Stack ↳ Are your tools helping or just adding complexity? 📌 Explore AI Solutions ↳ Where can AI save time or reduce risks? ↳  Psst I have a workshop on this November 20th 📌 Ask Your IT Provider Tough Questions ↳ Do they understand your business or just tech? ↳ Are they proactive or only fixing things reactively? ↳ Check out my FFREE IT Checklist in the comments! 📌 Create a Tech Vision ↳ What could you achieve with better technology? ↳ Set clear goals for transformation, not maintenance. ↳ I created a FREE community to support this process! Never doubt the power of determination. But remember: Determination powered by technology? That’s the ultimate game-changer. 👇 Share your thoughts below! ♻️ Found this valuable? Share it with a fellow leader.

Strategic Flexibility: LG’s Playbook in the Age of Uncertainty #3. Geoeconomics: The Precision Calibrator for Strategic Impact For some time now, we’ve been reshaping our portfolio by expanding business domains and transforming business models. Beyond home appliances, we’ve grown into B2B solutions such as mobility, smart factories, and HVAC. At the same time, we’ve moved from hardware-centric businesses to subscription services, D2C, and platform-based models. As of Q2 2025, B2B represents 37% of total revenue, while non-hardware platform sales grew 18% year-on-year. But today, the world asks a new question: “Where, when, and how should opportunities be seized?” As AI innovation and geoeconomic shifts unfold together, LG Electronics’s strategy has become three-dimensional: business expansion as the X-axis, new models as the Y-axis, and geoeconomics as the Z-axis. If AI creates opportunities, geoeconomics acts as the calibrator—defining their scale, direction, and impact. Global South: The New Stage of Growth The Global South is no longer just “emerging”—it’s becoming a central driver of growth. Across leading countries in this region, LG is laying the groundwork for the future with expanded R&D, production capacity, and locally tailored strategies. • LG India: USD 600M investment in a third plant with 5M-unit capacity; stronger R&D through LG Soft India and our Noida lab; 2024 revenue of KRW 3.79T and net profit of KRW 331.8B*; IPO preparation underway. • LG Electronics Indonesia: New Cibitung R&D base for our Media Entertainment Solution Company; reinforcing production hub role; expanding AI data center HVAC contracts. • LG Electronics Brasil: Manaus plant operating 30 years as a regional hub; BRL 2B investment in a Paraná plant by 2026 to localize premium appliances. • LG Electronics Saudi Arabia: HVAC production hub; expanding AI data center partnerships; growing as a Middle East and Africa export base. Operational Agility Our Locally Self-Sufficient Model builds complete value chains within each market, enabling fast response and supply chain stability. In parallel, our Swing Production System links 35 sites across 16 countries—including the U.S., Mexico, Vietnam, Hungary, Saudi Arabia, Brazil, and India—into a flexible global network. Together, these models let us adjust production to tariff changes or geoeconomic challenges, ensuring stability and efficiency. This dual foundation enables LG to navigate uncertainty with resilience and agility. The environment will always bring new challenges. But our commitment is clear: understand markets, capture opportunities, and deliver solutions when and where they are needed. With strategic flexibility, we aim to turn challenges into growth and open new pathways for the future. * Source: LG Electronics 2024 Annual Report

I interview a lot of performance marketers, and there’s one question no one till now has got it right! I ask them, "How many days should we retarget BOF audiences?" They take a deep breath, straighten up, and confidently say: 👉 "7, 14, and 30 days." Like they just cracked some secret code. So, I push further. "Why 7, 14, and 30?" Silence. A nervous smile. Maybe a generic answer like "That’s what everyone does." Most marketers run ads like they’re following a playbook, not understanding the psychology of a buyer. They apply the same fixed formula whether the product is a ₹500 lipstick or a ₹2,00,000 luxury watch. And guess what? That’s why their BOF campaigns underperform. They all know the technical side of running ads on Meta, but I often find one big gap in their thinking. Here’s the problem: BOF retargeting windows should not be fixed. They should be based on how long a customer takes to make a buying decision. If you sell a ₹499 pair of sunglasses, your customer doesn't need 30 days to decide. But if you sell a ₹50,000 camera, they’re not buying within 3 days either. The Right Way to Set BOF Retargeting Days 👇 💰 Impulse Buys (₹500 - ₹4,000) → BOF: 1-7 days 🛍️ Examples: Skincare, fashion accessories, snacks 📅 Why? People make quick decisions. If they haven’t bought in 7 days, they probably never will. 💰 Considered Purchases (₹4,000 - ₹25,000) → BOF: 3-14 days 🛍️ Examples: Sneakers, home decor, small appliances 📅 Why? Customers compare brands, check reviews, and take about a week or two to decide. 💰 High-Involvement Purchases (₹25,000 - ₹1,50,000) → BOF: 7-30 days 🛍️ Examples: Laptops, furniture, luxury watches 📅 Why? These require more research. Customers look for warranties, financing options, and comparison videos before buying. 💰 Big-Ticket Investments (₹1,50,000+) → BOF: 14-90 days 🛍️ Examples: Cars, premium gadgets, real estate 📅 Why? These are major financial decisions. Customers take months to decide, so BOF retargeting needs to run longer with trust-building content. Lesson for Performance Marketers 🚀 There is no one-size-fits-all approach in BOF retargeting. Every product category has a different buying cycle. If you’re just applying the same 7-14-30 day formula to every business without understanding the logic, you’re leaving money on the table. Next time you set up a BOF campaign, ask yourself: 1️⃣ How expensive is the product? 2️⃣ How long does the customer take to decide? 3️⃣ What objections do they need help with? If you get this right, your retargeting ads will convert better and your clients will notice the difference. #PerformanceMarketing #MetaAds #D2C #Retargeting #MarketingStrategy #HonestMarketing #bottomfunnel #digitalmarketing

I am constantly thinking about how to foster innovation in my product organization. Building teams that are experts at execution is the easy part—when there’s a clear problem, product orgs are great at coming up with smart solutions. But it’s impossible to optimize your way into innovation. You can’t only rely on incremental improvement to keep growing. You need to come up with new problem spaces, rather than just finding better solutions to the same old problems. So, how do we come up with those new spaces? Here are a few things I’m trying at Duolingo: 1. Innovation needs a high-energy environment, and a slow process will kill a great idea. So I always ask myself: Can we remove some of the organizational barriers here? Do managers from seven different teams really need to say yes on every project? Seeking consensus across the company—rather than just keeping everyone informed—can be a major deterrent to innovation. 2. Similarly, beware of defaulting to “following up.” If product meetings are on a weekly cadence, every time you do this, you are allocating seven days to a task that might only need two. We try to avoid this and promote a sense of urgency, which is essential for innovative ideas to turn into successes. 3. Figure out the right incentive. Most product orgs reward team members whose ideas have measurable business impact, which works in most contexts. But once you’ve found product-market fit, it is often easiest to generate impact through smaller wins. So, naturally, if your org tends to only reward impact, you have effectively incentivized constant optimization of existing features instead of innovation. In the short term things will look great, but over time your product becomes stale. I try to show my teams that we value and reward bigger ideas. If someone sticks their neck out on a new concept, we should highlight that—even if it didn’t pan out. Big swings should be celebrated, even if we didn’t win, because there are valuable learnings there. 4. Look for innovative thinkers with a history of zero-to-one feature work. There are lots of amazing product managers out there, but not many focus on new problem domains. If a PM has created something new from scratch and done it well, that’s a good sign. An even better sign: if they show excitement about and gravitate toward that kind of work. If that sounds like you—if you’re a product manager who wants to think big picture and try out big ideas in a fast-paced environment with a stellar mission—we want you on our team. We’re hiring a Director of Product Management: https://lnkd.in/dQnWqmDZ #productthoughts #innovation #productmanagement #zerotoone

I used to train budtenders to increase average basket size. Then I realized I was training them to lose customers. Three months ago, I sat in on a transaction that changed the game: Our "top performer" convinced a first-time customer to buy a $60 eighth when they came in for a $15 pre-roll. The numbers looked great. The customer never came back. Meanwhile, our "underperformer" spent 10 minutes educating a nervous newcomer, recommended a single $10 gummy to start, and earned a customer who now visits twice a week. The difference wasn't sales skills. It was relationship skills. I rebuilt our training from the ground up: - Always suggest the premium option → Match products to actual needs  - Add-on at every transaction → Educate for the customer's journey  - Maximize today's ticket → Build tomorrow's regular Instead of only focusing on upselling techniques, we added on customer education. Instead of pushing premium products, we taught needs assessment. Results after 90 days: Average ticket increased 8%. Customer retention increased 34%. At C3 Industries, we train budtenders to be educators, not salespeople. Your team's performance isn't measured in today's transactions. It's measured in tomorrow's relationships. Stop training for the transaction. Start training for the customer. #BudtenderTraining #CannabisEducation #RetailDevelopment 

A Great Product Manager will always consider changing any setback into an opportunity. But how to tell an opportunity from a future flop? Listen, being "Agile" did not come out of any fundamental hate of the "Waterfall" (heavily planned) way of doing things. It came from the inherent unpredictability of tech and the market. Agile is about maximizing value and finding ways to win big, bet small, and maintain a low level of risk. Thus, as a PM, you are a predator hunting for an opportunity that can easily get you to your goals, in front of competition, or simply amaze your team and company with your results. Ok, but how to find those diamonds in the rough? 1) Improve on your competitors' work Your competitors already did the heavy lifting by testing what the market responds to. Instead of reinventing the wheel, make it smoother, faster, and more appealing. Apple built entire product lines on this principle: perfecting what others started. 2) Look for abandoned, proven MVPs in your company Many teams launch pilots or MVPs that show promise but get buried under shifting priorities. As a PM, you can resurrect these half-forgotten gems and carry them across the finish line. Sometimes the best opportunities are already lying in your company’s backyard. 3) Pick up complex ideas with easily proven fundamentals Big visions often scare stakeholders, but you don’t need to tackle them all at once. Focus on proving one small, undeniable piece that validates the larger direction. A single pebble of evidence can set the whole stone rolling. 4) Look for successful patterns in similar industries Innovation doesn’t always mean starting from zero. Sometimes it’s about borrowing proven tactics from another industry and applying them to yours. Gamification, loyalty mechanics, or community building can travel surprisingly well between markets. 5) Spend time reviewing comments and feedback User reviews, support tickets, and survey responses hide more opportunities than most dashboards. AI can now crunch tens of thousands of them and show you patterns in minutes. If you’re not mining feedback for product ideas, you’re sitting on gold and ignoring it. 6) From time to time, test a wild idea Not every bet should be rational or backed by data. Occasionally, you need to test something bold and unconventional that might just click. Steve Jobs once tossed a prototype iPod into an aquarium to show it could still be smaller, as it produced bubbles of air once underwater. But all those 6 approaches only work if you are willing to take things into your hands and not be forced into delivering management-ordered features. You need to be truly agile, meaning bold and willing to take risks. Those who play by the rules likely won't win. The house always wins. You want to win. Try harder. So... Did you ever take a risk? How did it end? Tell me your story in the comments :) #productmanagement #productmanager #agile  

AI does not make strategy smarter by itself. It can only accelerate the quality, or the weakness, of the decisions leaders are already prepared to govern. When AI influences strategy, the executive role becomes more important. Leaders need to make sure data is reliable, models are challenged, and business context is not lost behind technical outputs. AI insights should be connected to real priorities, so teams understand why a decision is made and how it supports execution. Responsibility must also stay visible. When AI supports strategic choices, ownership cannot become vague or hidden inside systems. Good strategy depends on adapting as data and context change, while monitoring outcomes and keeping accountability active over time. AI creates value when executives turn data-driven insights into decisions that people can understand, execute, and own. #AI #Leadership #DecisionIntelligence