Strategic Innovation

8306 WordsJun 30, 201234 Pages
A Framework for Strategic Innovation A Framework for Strategic Innovation Blending strategy and creative exploration to discover future business opportunities ______________________________ by Derrick Palmer & Soren Kaplan Managing Principals, InnovationPoint LLC © 2007 InnovationPoint www.innovation-point.com Page 1 A Framework for Strategic Innovation Table of Contents 1. 1.1. 1.2. THE ART AND DISCIPLINE OF STRATEGIC INNOVATION ............. 3 Traditional strategy versus Strategic Innovation ................................................................. 4 Serendipitous versus Strategic Innovation............................................................................ 4 2. 2.1. THE SEVEN…show more content…
The framework consists of a cohesive set of practices that inspire imaginative teams to look beyond the obvious, explore a broad range of possibilities, identify significant opportunities, make informed decisions about the most promising paths to pursue, create a shared vision for growth, define pragmatic action plans that “bridge from the future back to the present” and align the organization around the requirements for success. Strategic Innovation takes the road less traveled – it challenges an organization to look beyond its established business boundaries and mental models and to participate in an open-minded, creative exploration of the realm of possibilities. “All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.” – Sun Tzu Some organizations may feel that seeking breakthroughs is too grandiose a goal, and that they would be content with “simply growing the business”. Experience shows, however, that focusing on the short-term typically yields only short-term results – while teams aspiring to seek significant breakthroughs will both identify “big ideas” and also generate closer-in, incremental ideas. Strategic Innovation is not characterized by mundane, incremental product extensions, the “me-too” business models of close followers, or band-aids for inefficient processes. It does not consist of
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