Kuczmarski Innovation works with senior leaders and innovation team managers to develop the strategic roadmap to guide your innovation strategy. By conducting a Diagnostic Assessment, which is a series of management interviews, roundtable discussions, surveys, and past performance analysis, we will determine both current innovation capabilities and barriers to overcome.
Own It (Creating an Innovation Strategy)
A Diagnostic Assessment is needed to develop an Innovation Strategy. By identifying the underlying factors that contribute to a company’s past innovation performance, clients can begin to answer important strategic questions about innovation. Should the company be developing new products or focusing on other growth routes likes acquisitions or joint ventures? What are the roles the new innovations will play for the company’s overall growth strategy?
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Once we’ve completed a Diagnostic Assessment, we can create an innovation strategy by identifying these four (4) components:
Think of this as your mission statement to describe what you want to achieve beyond your existing business and how to shape the strategic outlook and overall product portfolio for years to come.
2. Financial Growth Gap
The revenue generated by new products or services verses planned revenue is what KI calls the “Financial Growth Gap.” By computing the Financial Growth Gap, innovation leaders will have firm goals on which to base their innovation successes now and in the future.
3. Strategic Roles
These roles define how innovation contributes both to the vision and the overall strategy. How does this new product serve and support existing and desired new businesses?
4. Screening Criteria
These are the filters, or minimum thresholds, that a new product, service, or business model must pass to help prioritize and categorize opportunities at different stages of the innovation process.