10 Hidden Strategic Opportunities (PowerPoint PPTX Slide Deck)

BEHAVIORAL ECONOMICS PPT DESCRIPTION

This product (10 Hidden Strategic Opportunities) is a 22-slide PPT PowerPoint presentation slide deck (PPTX), which you can download immediately upon purchase.

Potential opportunities always surround leaders. It is up to them to pounce on them or regret overlooking them when someone else takes advantage of them.

Psychologists call this trait "confirmation bias" where individuals pick the data that supports their existing opinions and approaches and doubt information which defies their mindsets. Leaders need to train themselves to consider the slight hints of the opportunities surrounding them—in the form of incongruities to their personal beliefs and ideas. The ability to control personal bias and explore anomalies results in uncovering opportunities that competition may not recognize.

There are 10 "hidden" strategic opportunities that exist in all businesses, geographies and industries. It's up to the leaders to notice these. This presentation expands on each of these 10 strategic opportunities.

The slide deck also includes some slide templates for you to use in your own business presentations.

This presentation delves into gaps in industries that innovative leaders can exploit. Each opportunity is dissected with real-world examples, offering actionable insights for executives ready to capitalize on overlooked areas. The slide deck is structured to guide you through recognizing and leveraging these hidden opportunities, ensuring you stay ahead of the competition.

The PPT also provides templates to customize and apply these strategies to your business context. These tools are designed to facilitate immediate implementation, helping you to swiftly identify and act on strategic opportunities that others might miss.

Source: Best Practices in Creative Thinking, Cognitive Bias PowerPoint Slides: 10 Hidden Strategic Opportunities PowerPoint (PPTX) Presentation Slide Deck, LearnPPT Consulting

BEHAVIORAL ECONOMICS PPT SLIDES

Identifying Unmet Market Needs for Innovation

This PPT slide outlines a significant opportunity in various industries, emphasizing that gaps often exist where products are presumed to be available, but are not. This misconception creates a fertile ground for innovative thinkers to introduce new offerings that fulfill unmet needs. The content highlights that many well-known inventions, such as the tablet computer and mobile phone, were initially thought to be already available, yet they were not.

The overview section stresses that while there may be a perception of existing solutions, it is only when a company actively enters the market with a novel product that the true absence of such offerings becomes evident. This insight suggests that organizations should be vigilant in identifying these overlooked areas, as they can lead to substantial market opportunities.

The details provide a concrete example with Kate Spade's story. In the 1990s, she recognized a gap in the handbag market for stylish yet practical options. At that time, the market was dominated by high-priced, impractical designer bags. By launching her own line of fabric handbags, Spade successfully filled this void, resulting in widespread appreciation from consumers, including celebrities. This case illustrates the potential rewards of addressing these gaps and the impact of innovative thinking on market dynamics.

The slide ultimately encourages executives to consider how they can identify and exploit similar opportunities within their own industries, reinforcing the notion that innovation often stems from recognizing what is missing rather than what is currently available.

Exploring Applications of Emerging Technologies

This PPT slide presents a concept centered on the discovery of new technologies and the subsequent exploration of their applications. It emphasizes that researchers often stumble upon innovations that appear promising, yet they may initially lack clarity on how to effectively utilize these discoveries. This uncertainty can hinder the potential impact of the innovation.

The example provided highlights the journey of ArthroCare Corporation, which was founded on the Coblational process. This technology employs radiofrequency energy to disintegrate impaired tissue, a method that preserves surrounding areas. Initially, the researchers considered its application in cardiac surgery. However, they soon realized that the market for this application was limited and highly competitive. This realization prompted Hira Thapliyal, one of the co-founders, to investigate alternative uses for the technology.

Ultimately, Thapliyal identified a more viable application in orthopedic surgeries, specifically arthroscope-guided procedures. This pivot opened up a substantial market opportunity, estimated at around 2 million operations annually. The slide underscores the importance of adaptability and the willingness to explore various applications of a discovery. It suggests that once innovators determine the most suitable use for their technology, it can lead to significant profitability and market success.

This content serves as a reminder for executives to remain open-minded about the potential of new technologies and to actively seek out various applications that may not be immediately apparent. The insights here can guide strategic thinking and decision-making in identifying and capitalizing on hidden opportunities.

Leveraging Customer Innovations for Product Enhancement

This PPT slide outlines a strategic opportunity for manufacturers to leverage innovative uses of their products identified by customers. It emphasizes the importance of recognizing and supporting these unanticipated applications, which can enhance customer satisfaction and potentially expand market reach. The key message is that manufacturers should actively engage with customers to understand their perceptions and gather feedback. This two-way communication is crucial for improving product design and functionality.

The overview section suggests that when customers discover new uses for a product, manufacturers should take proactive steps to support these innovations. This can involve modifying existing products to better accommodate these uses or enhancing their features to align with customer needs. The slide cites a practical example involving Haier, a Chinese appliance manufacturer. A product manager learned that customers were using washing machines to clean vegetables in rural areas. In response, she collaborated with the engineering team to adapt the machines, allowing them to handle vegetable peelings more effectively. This adaptation not only improved customer experience, but also enabled Haier to capture a significant market share in a previously untapped segment.

The slide ultimately advocates for a mindset shift among manufacturers. By recognizing and promoting innovative customer usage, companies can foster loyalty and drive growth. This approach not only enhances the product's value proposition, but also opens avenues for new marketing strategies aimed at broader customer segments.