The adaptive master plan for innovation-driven outcomes that includes innovation vision, aspirations and courses of action intended to achieve high-impact innovations leading to exponential growth and profitability.
Enterprise Strategy & Role of Innovation
The way enterprise and business strategies are managed, and the extent in which innovation plays a part on them
- Enterprise strategy is systemically and adaptively formulated based on new knowledge and priorities.
- Active monitoring of disruptive threats/opportunities and other macro trends (e.g. social, economic, political, and regulatory).
- Systematic assessment of company (e.g. aspirations, strengths and weaknesses) and competitive environment (e.g. industries, ecosystems, customers and other stakeholders).
- Innovation plays a significant role in enterprise aspirations (e.g. growth and profitability).
Innovation Objectives & Strategy
The quantitative and qualitative innovation objectives as well as the target domains where innovation is to proceed (and thus, where not to) and the plan on how to win on each of them
- Qualitative and quantitative innovation objectives are established, linked to long-term strategic planning, and clearly communicated.
- Innovation domains or arenas (e.g. product categories, market segments, technologies, or combinations of them) clearly describe the strategic choices on where to play for innovation.
- Innovation strategies (e.g. based on innovativeness and/or on competitive dimensions; global versus local; and entry mechanisms) clearly describe the strategic choices on how to win in each target domain or arena.
Strategic Innovation Portfolio
The way the innovation strategy is operationalized, which includes defining the types of initiatives, establishing budgets for target domains (e.g. strategic arenas and types of initiatives) and establishing a strategic roadmap
- Defined investment commitment for innovation (e.g. based on intended strategic contribution and/or competitive parity).
- Defined typology of initiatives (e.g. core, adjacent and transformational) is clearly understood, communicated and actively used.
- Defined innovation buckets (budgets) are allocated to the strategic priorities (i.e. target domains or arenas, initiative types, initiative stages and/or geographies).
- Developed innovation roadmap(s) indicating the strategic initiatives envisioned over time and their alignment to market and business drivers.