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"Innovation Strategy"
What are the Four Innovation Drivers?
It must be agreed that few markets are stable and unchanging, resulting in the need for new and revised products, services and processes. So, what creates the need for innovation? This post identifies the four innovation drivers as shown below.
Technological Advances
There are numerous examples of new technologies having a major [...]
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Why are market segments important to innovation and strategy?
Introduction
Anyone involved in marketing will understand how important market segments are in marketing terms, but it may be less obvious why they are important in an innovation or strategic context. This post aims to review market segments, and then briefly comment as to why they are important [...]
Continue Reading → What are the key aspects of innovation management?
Introduction
The Economist recently noted that innovation management is no longer an art, but is ‘becoming a practical science’. So, to get ahead, managers need to quickly develop the range of skills they need to be able to manage innovation effectively. Innovation is a capability to be developed and [...]
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What is the Strategy Clock?
Introduction
The strategy clock is one of the less well-known strategy tools and is based on the principle that organisations achieve competitive advantage by providing their customers with what they want, or need, better or more effectively than their competitors. The strategy clock adopts the assumption that customers will accept any offering [...]
Continue Reading → Using the Cultural Web in an Innovation Context
My previous two posts have introduced the cultural web, and how it can be used to analyse corporate culture and looked at different questions which can be asked when applying the web. This post takes the discussion of the web a stage further and considers how it can [...]
Continue Reading → What is the Cultural Web?
In business, we are constantly talking and thinking about the culture of the organisation. This post looks at what we mean by ‘culture’ and particularly, how it can be analysed and understood by reference to the cultural web.
Organisational Culture
Schein defines organisational culture as the ‘basic assumptions and beliefs that are shared [...]
Continue Reading → GE Global Innovation Barometer 2012
StrategyOne and GE have recently published their ‘Global Innovation Barometer, 2012′. This post looks at their findings of their survey of 2,800 senior executives in 22 markets. Key findings are as follows:
Impact of the economic crisis on innovation:
77% of respondents agreed or strongly agreed that there would be a change in [...]
Continue Reading → ‘Global Innovation Index, 2011′
Insead has recently published its latest ‘Global Innovation Index’ which looks at various country metrics to determine the ranking of 125 different countries. In addition to the usual metrics, such as number of PhDs, the number of research articles produced the research centres created, the patents issued, and research and development expenditure, [...]
Continue Reading → Innovation Opportunities
We all read and write about the need for innovation – the successful commercial exploitation of a new idea (invention), and we all know about product or service innovation. However, there are considerable opportunities for innovation if we only look for them.
This post lists various areas where innovation opportunities might lie, and the hard [...]
Continue Reading → What is an Innovation Strategy?
Introduction
When undertaking an innovation audit, Innovation for Growth looks at five principal areas, the first of which is around the innovation strategy. This post looks at innovation strategies and why they are important. When undertaking innovation, all to often companies get their people together and tell them that they are going [...]
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