Moisés’ 10 Commandments for Innovation and Growth
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Commandment 1: Thou Shall Define a Purpose
Building an innovation program from the ground up can be a daunting mandate. However, the foundation of all initiatives or programs should be a clearly defined purpose.
“You should define a vision of why this is what you are going to be making as an organization…to make the world a better place,” says Moisés Noreña, former Head of Innovation at Whirlpool, Allstate, and Moen. “Your goal is to serve the customer like nobody can. When you define the purpose, you are on your path to achieving that.”
In this series, Noreña shares his “10 Commandments for Innovation and Growth” at established companies. The goal, he says, is to share “conscious business practices that involve holding values of collaboration, care, and trust that go beyond making money. Conscious business practices applied to innovation, means creating to serve or benefit people I work with, work for, consumers, investors, stakeholders, and the planet.”
This video dives deep into the first Noreña’s first commandment: Thou shall define a purpose.
The purpose, according to Noreña, should go beyond growing market share and be focused on improving customer’s lives. For example, IKEA’s purpose is not to be the largest furniture store in the world. According to Noreña, the company seeks to create a better everyday life for people through providing products that let people furnish their dream home.
Noreña also shares three steps to help innovators on their journey:
• Find unarticulated needs.
• Define what you can do better than anybody.
• Assess the industry potential.
View the video for more, or watch the video in Spanish.