What is strategic innovation framework?

What is strategic innovation framework?

Strategic Innovation is a future-focused business development framework that identifies breakthrough growth opportunities, accelerates business decisions and creates near-term, measurable impact within the context of a longer-term vision for sustainable competitive advantage.

How do you write an innovation strategy?

5 Steps for Developing Your Innovation Strategy

  1. Determine objectives and strategic approach to innovation.
  2. Assess and Develop Your Core Capabilities.
  3. Pick your focus.
  4. Align innovation strategy with your business goals.
  5. Communicate and integrate your strategy to the ways of working.
  6. Measure systematically and adapt.

What are the elements of innovation strategy?

The Four Key Elements of Innovation: Collaboration, Ideation, Implementation and Value Creation. Innovation requires collaboration, ideation, implementation and value creation. Community developers actively engaged in innovation illustrated each of these elements during breakout sessions.

What are the four steps of innovation?

Four Steps to an Effective Innovation Process

  • Observe Your Customers to Uncover New Problems—and Opportunities.
  • Create New Solutions.
  • Prototype and Learn in the Market.
  • Implement the Best Ideas.

How do I create an innovation roadmap?

The following nine steps can be recommended as an effective approach.

  1. Step 1: Determine the purpose and content of the innovation roadmap.
  2. Step 2: Identify and analyse the strategic issues.
  3. Step 3: Specify the parameters for the topics.
  4. Step 4: Release and commitment by management.
  5. Step 5: Visualize the innovation roadmap.

How do you create a strategy framework?

Build a Strategic Framework Through Strategic Planning

  1. A vision for your future.
  2. A mission that defines what you are doing.
  3. Values that shape your actions.
  4. Strategies that zero in on your key success approaches.
  5. Goals and action plans that guide your daily, weekly and monthly actions.

What are the four P’s of innovation?

When it comes to implementing innovation, what is the starting place and how can you identify areas in need of an innovative approach? Take a business leader approach and start with the four “Ps” of innovation—paradigm, process, position and product.

What are the 6 aspects of innovation?

The six key elements of innovation governance are:

  • Vision. At the center of innovation governance is clarity on the role of innovation in the organization’s future success, including prioritized objectives for innovation.
  • Manage risk.
  • Develop capabilities.
  • Allocate resources.
  • Establish structures.
  • Communicate.

What is an innovation matrix?

An Innovation Matrix is a visualization of how you can easily identify the different kinds of innovation based on whatever goal is necessary for a certain perspective. For example, understand how to accelerate innovation, understand where to innovate, understand how to manage innovation, etc.