We provide services to define innovation strategy that links to the business strategy. We explore all major aspects relating to innovation activities & results. The primary objectives of innovation strategy are to:
- Decide on how to best allocate resources
- Articulate an Innovation Roadmap
- Define the Type and scope of innovation activities
- Assess Innovation portfolio make-up Organize resource allocation & execution plan
Additional implications we consider when developing Innovation Strategy include organizational aspects such as:
- Decision-making authority
- Management of innovation
- Organizational structure & coordination at the Corporate, Business-unit or Team-based level where strategy is developed
our approach
Our approach is to define an Innovation Strategy that delivers on business objectives for growth by first understanding the company’s vision, growth goals, business strategy, and the business issues at hand. A clearly defined growth strategy is a prerequisite to set the direction and focus on the type and mix of innovation needed to deliver the desired growth objectives across sustaining, commercial, and disruptive innovation. The framework we put in place also defines foundational elements to drive focus such as innovation principles, innovation pacing, and what is outside the agreed scope. It drives resource allocation decisions which maximize productivity, return on investment, and create unique value to the organization.
Typically, we begin with a high-level assessment to explore all major aspects relating to innovation activities and results. We work at the corporate-, division- and team-level of the organization always including the cross-functional perspective to ensure resources are leveraged, and speed and communication are optimized for results.
- Innovation direction and resource allocation. This is about developing an innovation roadmap and activities to define innovation platforms or make-up of the portfolio.
- Organizational and process improvements to best manage innovation. This includes new capabilities such as how to partner or discovery technology or solutions for innovation, develop or incubate new businesses, new business model, lean startup and other activities.
We will ensure that the strategy considers type of innovation and risk to shape a balanced portfolio to fit growth goals and investment/risk boundaries. We tailor our approach to either present strategic options from analysis ending with a collaborative activation session or utilize a collaborative approach to develop strategy with the team and then analyze to vet assumptions and unknowns to finalize the plan.
PROVIDED SERVICES
Innovation Strategy Assessment
Innovation Strategy Development
Benchmark Study
Innovation Management Consulting
Customer Journey Mapping
Service Blueprint
