Rethinking an existing system, product or process from the ground up can be especially enlightening if this product or system has been in place for some time. Rather than trying to to discover a way or ways to make something better, complete an exercise in developing that same thing from the ground up based on current technology or the latest innovations.
What's the point? Technology and innovation move quickly. Chances are, an "old faithful" system or product could have been drastically improved upon a long time ago. By letting a product or system go without innovation, you could be dealing with a substantial amount of easily achieved and unrealized value. Also, a commitment to innovation will mean your transition to improving systems, products or processes will be less disruptive to your enterprise.