Innovation Strategy & System
The Business Issue
- Despite massive investments of management time and money, innovation remains a frustrating pursuit in many companies
- The problem with innovation performance is rooted in the lack of an innovation strategy and/or …
- … in the lack of understanding that different types of innovation require different innovation systems (processes, metrics, skills, organizational structures)
The Management Idea
- Our Faculty Partner, Professor Gary Pisano at Harvard Business School, has developed a framework to help companies think strategically about different types of innovation, how to balance and mix them
- At ECSI Consulting we have developed an Innovation System framework that helps companies to dramatically improve their innovation processes, structure, people and metrics based on different types of innovations …
- … and how to design and execute an Innovation System roadmap to progress in the desired future direction
The Results
- Balanced strategy and portfolio
- Raise the performance of the innovation budget in terms of output (pipeline, new products or services, business models)
- Raise the percentage of market success of newly marketed innovations
The Innovation Landscape Map
When creating an innovation strategy, companies have a choice about how much to focus on technological innovation and how much to invest in business model innovation. This matrix, which considers how a potential innovation fits with a company’s existing business model and technical capabilities, can assist with that decision.
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