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Strategic Alignment Linking Innovation Strategy With Corporate Goals and Strategies |
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By: Vadim Kotelnikov
Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!
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"You've got to think about 'big things' while you are doing small things, so that all the small things go in the right direction." – Alvin Toffler |
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Strategic Alignment Defined Strategic alignment is the process of linking innovation strategy with corporate vision, goals, objectives, and strategies. Balanced Organization: 5 Basic Elements Empowered Employees (Metal):
Why Strategic Alignment? The cost and time required to create a new product or service are so large that lack of a perfectly aligned and executed innovation strategy can be extremely wasteful. You can pursue any opportunity you want, but you cannot afford to pursue every opportunity you want. Strategic alignment "creates a directional beacon that defines which domains to explore and which ones to avoid."1 Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for customers and the corporation. Case in Point Silicon Valley In the Valley, strategic alignment results as much from tacit understandings as explicit ones. "And Valley leaders know that you'll never achieve perfect alignment without squelching creativity and experimentation. Organizational norms and entrepreneurial experience continuously reinforce the opportunism from which new discoveries and alignment can spring."1 7 Dimensions of Strategic Innovation The Strategic Innovation framework weaves together seven dimensions to produce a range of outcomes that drive growth. A company's Organizational Readiness may drive or inhibit its ability to act upon and implement new ideas and strategies, and to successfully manage operational, political, cultural and financial demands that will follow... More Road-Mapping The goal of the road-mapping is to develop the innovation strategy – to choose and do the right things. The goal of innovation management is to implement this strategy well. Road-mapping leads to effective project portfolio development and management. It provides for company-wide technological strategy development and technology assessment, as well as division-level project evaluation and strategic aligning. Road-mapping tools provide also a common language for innovation and building bridges between technologists and business managers within your corporation, and with you major suppliers and customers.
Aligned Organization: Key Features... Two Parts of Strategic Alignment... Tips for Setting and Communicating the Vision... Strategic Intent... Linking Creation of a Strategic Intent with its Implementation... Launching a Crusade... Establishing Corporate Guiding Principles... Strategic Leadership... Strategic Achievement... Case in Point Dell Inc... Case in Point Charles Schwab... Case in Point Silicon Valley Firms... Case in Point GE...
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