Patent SG-175564-A1 (SG)
Title: Happiness-innovation matrix (him) model for analyzing / creating product solutions for attractiveness and sustainability
Inventor: SINGH DEVENDRA PAL
Filed: 2011-09-28
Abstract: AbstractConsumer centric "Happiness-Innovation Matrix Model" (HIM Model), described herein, enable firms to formulate/evaluate the effectiveness of product/service. It measures both the strategic impact of utilizing interactions among and between four levers of innovations and the role of five circles of happiness, in "providing happiness" to stakeholders (Fig 1) and thereby on product's (and firm's) competitiveness and sustainability against its competitors.Firm achieves product's success and attractiveness by using four levers of interactions and by providing happiness to its stakeholders by way of 5 circles of happiness. It can achieve sustainability by using interactions between various products (its own or with others) so as to enlarge the scope of its products infrastructure interactions to provide venue, time or content and format, specific exclusivity advantage; using social interactions to provide access to exclusive society / or access to privileged societal expertise/ knowledge; using financial to increases product's value proposition. Firm achieves product's (and firm's attractiveness and hence its sustainability) attractiveness to its consumers by focusing on emotional and logical happiness generating activities, for its stakeholders: by focussing on ethical products/ behaviour, care for environment, ability to participate in exclusive social networking or by resolution of personal problem of consumers; by focusing on providing its knowledge workers "hope to fulfil desire of succeeding and realizing their own full potential" by creating conducive, positively charged workplace environment with buzz of top leadership, offering financial incentive to participate in firm's success (share options); by providing happiness to its suppliers, co-opetitors, by opening up its marketing channel to 3[err]party suppliers and by giving Venture Capitalist to efficiently utilize his network and knowledge thus helping him progress professionally and giving him the opportunity to invest money during 2[err] and 3[err] round of financing.HIM Model help firms to measure their product's competitiveness and success and enables it to see the overall industry competitive landscape so essential for strategic battle. HIM model, formed by combining "five circles of happiness" and "four levers of innovations", can be represented by two maps: Consumer Needs Map (CNM) and Strategic Attack Map (SAM). Consumer Needs Map (CNM) shows how a firm positions itself to resolveconsumer's emotional and logical needs and it measures product's attractiveness to consumer whilst Strategic Attack Map (SAM) deals with reasoning on how firm achieves this competitive advantage and thus its sustainability. By utilizing CNM framework, the degree of Happiness provided to consumers (Net Happiness Index - NHI) is calculated by adding relative magnitudes (value) of emotional and logical happiness achieved, given in 1[err] circle of happiness of SAM, by resolution of consumer's different problems by the product offer. This is obtained by utilizing firm's dispersed and diffused knowledge/perception of the market place. Thereby NHI value is dynamic reflecting dynamic nature of market requirements, consumer's expectations,technological advances and dynamic stages of the product life cycle and therefore it is time specific and gives an indication of product's current and near future market acceptance, probable market share and thus can be used to formulate products ahead of firm's competitors. NHI helps create a reliable rapid-response fluid strategy deployment system for a firm. This model also helps firm to formulate its future strategies on whether it should pursue "open" or "closed system" strategy and its openness to the process of "democratization".