Innovation

Strategies

Continuous Innovation

  

Innovation Strategies

Choosing the right focus and innovation projects

 Vadim Kotelnikov

Vadim Kotelnikov, founder of 1000ventures - personal logo

Founder

     

 
 

The Need for Innovation Strategy

The cost and time required to create a new product or service are so large than lack of a perfectly aligned and executed innovation strategy can be extremely wasteful.

 

Strategic Innovation

Radical Innovation

Disruptive Innovation

  

 
 

Innovation Strategy should be aligned with:

→ Company vision

→ Future technology, supplier, and manufacturing strategies

  

Strategic Intent

Strategic Alignment

Technology Strategy

  

 
 

"You must create an innovation strategy that is aligned with not only your firm's core mission and values, but with your future technology, supplier, and manufacturing strategies. Lack of alignment between product and process architectures rapidly increases cost and risk. If your development process and organization structure are not matched to each other and your firm's  strategy, you're in even deeper trouble." ~ Christopher Meyer

  

 

 

 

  

Effective Innovation Process

7 Lessons from Silicon Valley Firms

  1. Be responsive to change, but selective in accepting requests for change.

Innovation Strategy Roadmappiong Innovation Management INNOVATION STRATEGY: Road-Mapping (Innovation Strategies)

 

3 Primary Criteria to Assess Your Innovation Portfolio

Besides assessing each initiative individually for risk, investment, return, and timing, assess your total portfolio to ensure that you have the right initiatives in it:

  1. Stretch and strategic fit. How much does your portfolio push the industry frontiers, and how well does it fit with your business goals and strategy?

Systemic Innovation

7 Interwoven Areas

  1. Business Innovation

  2. Organizational Innovation

  3. Strategy Innovation... More
 

Innovation Practice Tips

By: IDEO

  • Break rules and "fail forward" so that change is part of the culture, and little setback is experienced... More

Creating Competitive Disruption

7 Strategies

  1. Find new ways to improve customer satisfaction

  2. Find opportunities through understanding trends of change.

 

Creating a Sustainable Culture of Innovation

An 8-Step Process

  • Whet the Appetite: Lead a series of senior team “innovation strategy & alignment” sessions.

Working ON Your Business

"Most businesspeople are so busy working for their business or in their business that they never find time to work on their business. Thus they fail to anticipate what might happen or what they might be able to make happen."3

Balanced Organization: 5 Basic Elements

Empowered Employees (Metal):

  • People are sharply aligned with corporate vision and strategies... More

Strategic Innovation

Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for customers and the corporation..

Road-Mapping

The goal of the road-mapping is to develop the innovation strategy - to choose and do the right things. The goal of innovation management is to implement this strategy well.

Road-mapping leads to effective project portfolio development and management. It provides for company-wide technological strategy development and technology assessment, as well as division-level project evaluation and strategic aligning. Road-mapping tools provide also a common language for innovation and building bridges between technologists and business managers within your corporation, and with you major suppliers and customers.

Inspirational Business Plan: Successful Innovation

Competition: "Never innovate to compete, innovate to change the rules of the game." – David O. Adeife

The Art of Innovation: 9 Truths

By: Guy Kawasaki

  1. Jump to the next curve. Too many companies duke it out on the same curve. If they were daisy wheel printer companies, they think innovation means adding Helvetica in 24 points. Instead, they should invent laser printing. True innovation happens when a company jumps to the next curve – or better still, invents the next curve, so set your goals high.

7 Dimensions of Strategic Innovation

Achieving the Right Balance Between Stretch and Strategic Fit

The first test for any innovation portfolio is achieving the right balance between stretch and strategic fit. If you engage in hyperreactiveness thinking and continually react to the latest market or technological trend, rather than following a course until there is a significant reason to change, you’ll fail. The key to avoiding such short-term thinking is to maintain strategic alignment and test the assumptions that drive new products and service decisions as you make these choices.

 Lessons from Silicon Valley Firms  

Deciding If Your Innovation Portfolio Has Enough Stretch

Adapted from Relentless Growth, Christopher Meyer

  1. Balance between revolutionary and evolutionary initiatives. First, Silicon Valley companies assess the overall balance between revolutionary and evolutionary projects. The ultimate arbitrator of portfolio stretch if the innovation leaders’ judgment, experience, intuition, and luck.

 Case Study  Toshiba

Toshiba’s approach is to develop strategic alliances with different partners for different technologies because a single company cannot dominate any technology or business by itself... More

 

 Discover much more in the

FULL VERSION of e-Coach

Deciding What the Overall Objective of your Enterprise Should Be...

Creating your Enterprise Strategy...

Innovation Portfolio...

3 Primary Criteria to Assess Your Innovation Portfolio...

Diversification Strategy...

Strategic Licensing Out...

Venture Strategies...

Venture Acquisitions...

Radical Project Management...

Managing Radical Innovation Through Spinouts...

 Case in Point  Intel...

 Case in Point  Silicon Valley...

 Case in Point  Thermo Electron...

 Case in Point  Corning...

 Case in Point  Charles Schwab...

 Case in Point  Bunsha...

 Case in Point  GE Equity...

 Case in Point  Silicon Valley Firms...

 Case in Point  Microsoft...

 

 

 

 

"When I have finally decided that a result is worth getting, I go ahead on it and make trial after trial until it comes."  ~ Thomas Edison

 

References:

  1. Relentless Growth, Christopher Meyer

  2. "Radical Innovation", Harvard Business School

  3. It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, J. Jennings, L. Haughton

  4. "Driving Growth Through Innovation", Robert B. Tucker