Strategic Innovation - 8306 Words

A Framework for Strategic Innovation A Framework for Strategic Innovation Blending strategy and creative exploration to discover future business opportunities ______________________________ by Derrick Palmer Soren Kaplan Managing Principals, InnovationPoint LLC  © 2007 InnovationPoint www.innovation-point.com Page 1 A Framework for Strategic Innovation Table of Contents 1. 1.1. 1.2. THE ART AND DISCIPLINE OF STRATEGIC INNOVATION ............. 3 Traditional strategy versus Strategic Innovation ................................................................. 4 Serendipitous versus Strategic Innovation............................................................................ 4 2. 2.1. THE SEVEN†¦show more content†¦The framework consists of a cohesive set of practices that inspire imaginative teams to look beyond the obvious, explore a broad range of possibilities, identify significant opportunities, make informed decisions about the most promising paths to pursue, create a shared vision for growth, define pragmatic action plans that â€Å"bridge from the future back to the present† and align the organization around the requirements for success. Strategic Innovation takes the road less traveled – it challenges an organization to look beyond its established business boundaries and mental models and to participate in an open-minded, creative exploration of the realm of possibilities. â€Å"All men can see the tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.† – Sun Tzu Some organizations may feel that seeking breakthroughs is too grandiose a goal, and that they would be content with â€Å"simply growing the business†. Experience shows, however, that focusing on the short-term typically yields only short-term results – while teams aspiring to seek significant breakthroughs will both identify â€Å"big ideas† and also generate closer-in, incremental ideas. Strategic Innovation is not characterized by mundane, incremental product extensions, the â€Å"me-too† business models of close followers, or band-aids for inefficient processes. It does not consist ofShow MoreRelatedStrategic Management Of Technological Innovation1348 Words   |  6 Pagesdistance away from each other, but are still able to cooperate and collaborate intensively via advanced information technologies such as groupware, video conferencing and e-mail or Internet chat programs. Source of Definitions: Strategic Management of Technological Innovation (fourth Edition), Melissa A. Schilling. Key points: 1. Consulting New Product Development Teams a. Team Size The Team size can be larger or smaller. The average team size used by U.S organizations is 11. Huge teams cause moreRead MoreStrategic Management : Strategic And Innovation Within A Business Or Industry1346 Words   |  6 PagesDefining Strategic Management The definition of strategic management continues to transform over time which coincides directly with the unremitting modernization of business. Strategic management is understood as the implementation of a strategy statement to establish competitive advantage and innovation within a business or industry. There is no concise, comprehensive definition of strategic management, but there are common themes that assist in understanding strategic management today. EffectiveRead MoreStrategic Management of Technological Innovation by Melissa Schilling2918 Words   |  12 PagesDYNAMICS OF GROUPON 5 GROUPON’S INNOVATION 5 SOURCES OF GROUPON’S INNOVATION 5 THE LIFE CYCLE OF GROUPON 5 WHAT BUSINESS IS GROUPON IN? 6 GROUPON’S DOMINANT DESIGN 6 FORMULATING GROUPON’S INNOVATION STRATEGY 6 THE VALUES OF GROUPON 6 GROUPON’S TIMING OF ENTRY 6 GROUPON’S CORE COMPETENCIES 6 GROUPON’S CORE RIGIDITIES 6 IMPLEMENTING GROUPON’S INNOVATION STRATEGY 6 INDUSTRY DYNAMICS 6 GROUPON’S COLLABORATION STRATEGIES 6 PROTECTING GROUPON’S INNOVATION 6 GROUPON’S ORGANIZATIONAL STRUCTURERead MoreStrategic leadership and innovation at Apple Inc.3160 Words   |  13 PagesInternational strategy course work Based on case study Strategic leadership and innovation at Apple Inc. 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If not, then you have no real strategy.† (Lohr, 2014) ThatRead MoreThe Promise of Management Control Systems for Innovation and Strategic Change4021 Words   |  17 Pages10 The Promise of Management Control Systems for Innovation and Strategic Change TONY DAVILA M anagement control systems (MCS) have traditionally been viewed as tools to reduce variety and implement standardization (Anthony 1965). They are associated with extrinsic motivation, command and control management styles, and hierarchical structures. Because their objective is to minimize deviations from pre-established objectives, they are designed to block change for the sake of efficiency.Read MoreStrategic Management of Technological Innovation1157 Words   |  5 PagesSchilling, M. A. (2005). Strategic Management of Technological Innovation. London: McGraw-Hill/Irwin. In this study, Innovation is the process of exploiting new ideas that that will lead to creation of new products or services. This does not mean that, invention of new idea is what is important but also bringing that idea to the market and putting it into practice as well as, exploiting it in a way that will lead to new services which improve the quality of new idea. Strategic management is the processRead MoreStrategic Leadership Innovation at Apple4130 Words   |  17 PagesContents Executive Summary 3 Part One – Critically Evaluate the Key Features of Apple’s Industry 5 Part Two – Discuss how Leadership in Apple Influenced Strategic Innovation 8 Part Three – Critically assess Steve Jobs as a strategic leader at Apple 12 Conclusions 15 Appendices 17 References 20    2    Executive Summary â€Å"Increasingly, though, we live in an irregular world, where irregular people take advantage of irregular events and useRead MoreStrategic Leadership Innovation at Apple4142 Words   |  17 PagesContents Executive Summary 3 Part One – Critically Evaluate the Key Features of Apple’s Industry 5 Part Two – Discuss how Leadership in Apple Influenced Strategic Innovation 8 Part Three – Critically assess Steve Jobs as a strategic leader at Apple 12 Conclusions 15 Appendices 17 References 20    2    Executive Summary â€Å"Increasingly, though, we live in an irregular world, where irregular people take advantage of irregular events and use irregular means to produce irregularRead MoreInnovation and Strategic Management Annotated Bibliography.899 Words   |  4 PagesInnovation and Strategic Management Annotated Bibliography Article One: Innovation and Strategic Management Annotated Bibliography Sà ¡nchez, A., Lago, A., Ferrà  s, X., Ribera, J (2011) Innovation Management Practices, Strategic Adaptation, and Business Results:  Evidence from the Electronics Industry. Journal of Technology Management Innovation; 2011, Vol.  6 Issue 2, p14-39. Retrieved from Ebscohost The study in this write up was conducted to carefully