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Just search new here. Hi I'm Julia Kirby. Welcome to the HBR Ideacast.

Today our guest is Stephen Michel, who's director of the Executive MBA Program at

I MD in Lausanne, Switzerland, and a professor of marketing and service management.

Welcome, Stephen.

Thank you for having me.

Your article in the October issue of HBR is called

Capture More Value.

It has great advice for business innovators, but it starts with this

observation about a major blind spot you say they have.

Many companies spend a lot of time on innovating in a sense that they create more value for customers

and what they often miss is to think about how to capture that value and this is really what this research is about how can we

capture the value that we create with customers in different ways?

How do you think more rigorously about that is there some systematic way to think about value capture opportunities?

So what I did in my research I looked at cases across industry across the, and try to figure out patterns behind those value capture

innovation.

I came up with 15 ways of how to capture value differently in five categories, and that's what I present in this

...