Breakthrough products or services don’t come from a single great idea or brainstorming session. Instead, innovation flourishes in an environment that has the right Innovation Strategy.
Growing innovation in your organization begins by understanding where your company is starting. KI conducts management interviews, roundtable discussions, executes innovation surveys, and analyzes past performance against best practice metrics to determine both current innovation capabilities and barriers to be overcome.
KI uses this deep understanding to develop the components of a customized Innovation Strategy, ready for implementation throughout your organization. The outputs of the Diagnostic Assessment also inform the company’s Innovation Process and Innovation Culture to ensure alignment with the over-arching Innovation StrategyRead more about using a Diagnostic Assessment to develop a customized Innovation Strategy
The Innovation Strategy
An agreed-upon strategy is a key cornerstone for innovation success, and a key influencer of the company’s Innovation Mindset and the risk-taking attitude necessary for breakthrough innovation. KI uses the Diagnostic Assessment to construct an innovation strategy, complete with Vision, Strategic Roles, Financial Goals, and Success Criteria that are used to channel efforts and resources towards the highest-potential new products, services, and business models.
Components of the Innovation Strategy
- Innovation Vision – Who do we want to be?
- Financial Growth Gap – What are our financial expectations?
- Strategic Roles – How will innovation support our vision?
- Screeing Criteria – How will we measure success?