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Strategic innovation is a deliberate and proactive approach to creating
new and higher value for an entity by aligning efforts with its
vision, mission, and long-term goals.
The
Fruit-Tree model facilitates holistic thinking and inspires
harmonious-growth ideas. |
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Strategic Innovation vs.
Tactical Innovation
Unlike
tactical innovation,
strategic innovation focuses on
making substantial breakthroughs
or disruptions that transform
the business and may produce a
significant impact on its market
and industry.
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The question is how to create
such game-changing innovations
and achieve the resulting
competitive advantage and
growth 10+.
Play entrepreneurial simulation
games, like
InnoBall (Innovation
Brainball) to
maximize your chances of
success in radical-innovation
projects.
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Innovation Portfolio
Portfolio is much more than just a list of
initiatives.
You should also create charts that compare these initiatives
across dimensions such as stretch, strategic fit, risk, potential return and
resource requirements.
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The
portfolio approach helps
companies balance and harmonize
proactive (Yang) and adaptive
(Yin) innovation strategies,
ultimately driving long-term
success.
The
innovation-portfolio approach helps companies manage innovation projects to meet
various strategic objectives and systematically explore novel concepts. It also
helps companies adapt to evolving market conditions.
By
treating innovation as a strategic imperative, businesses can shape their future
and maintain a competitive edge by harmonizing proactive (Yang) and adaptive
(Yin) innovation strategies and initiatives.
By using different charts as lenses to compare
initiatives, you can mix and match alternatives until you come up with the
portfolio that's the best for your firm.
Companies that chose a
venture acquisition strategy are
challenged to rethink the role of R&D and knowledge management within their
corporations, to fit the new offerings with the near-term strategic and
operating portfolio.
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How to use this information
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①
"Adapt what is useful, reject
what is useless, and add what is
specifically your own."
~
Bruce Lee
②
Sleep on this information – your
powerful
superconscious mind will
tell you how to use it when you
wake up
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