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You need an Innovation Strategy (comitment to a set of behaviours (support…
You need an Innovation Strategy
comitment to a set of behaviours
focus efforts
self reinforce
achieve specific goal
clarify objectives and priorities
align different internal groups
achieve specific competitive goal
support business strategy
capture more value through innovation
identify core competencies
create a new business model
head start competition
have more bargaining power
add value for customers
save money
social benefit
solve needs
more convenience and reliability
better performance
specific for each company
defined by the most senior leaders
No Strategy or Innovation SYSTEM
use of best practices with no specific goal
failure to execute
create conflict instead of reinforcement
no calculation of trade offs
miss a market transformation
Innovation Landscape Map
Degree of Tech change
Routine Innovation
Radical Innovation
Degree in Business Model change
Disruptive Innovation
Architectural Innovation
Essential Tasks
2.Create a high level plan for allocation resources
3.Manage Trade-offs
How are we expecting innovation to create value to customers and the company
Recognize strategies must evolve