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How can an Innovation Strategy help your organisation grow?
Innovation Strategy
Our experience in designing and running strategic innovation projects for organisations has proven that innovation strategy development is a collaborative process involving the senior leadership team.In our recent Innovation Research Study, we identified the biggest innovation challenge and priority for organisations as creating value from their innovation efforts.
A critical question for organisations is where should you strategically allocate your innovation efforts?
Achieving the right balance across all three types of innovations is essential for long term sustainability.
- Incremental Innovation - improving existing products/services
- Adjacent Innovation - expanding existing products, services and expertise into new spaces
- Transformation Innovation - entirely new products, services and business models
Developing the Innovation Vision
The innovation vision is a concise statement which defines what the innovation will achieve for the organisation. It is realistic and easy to understand and remember.This phase:
- Understands the innovation opportunities, capability, culture and the role of innovation for the organisation.
- Benchmarks the organisation's innovation capability to identify the strongest and weakest areas, and options for developing innovation capability that delivers results.
- Defines innovation for the organisation.
- Develops the vision for innovation.
Reference https://chasegroup.com.au/innovation-capability-benchmark-tool
Developing the Innovation Strategy
The innovation strategy is the set of choices we make about how we allocate resources, develop our capability, and align the innovation initiatives to achieve the strategic goals of the organisation.This phase:
- Evaluates the innovation strategy options, including mapping and prioritising the current and future innovation activities.
- Develops the 3 to 5-year innovation strategy.
Our Innovation Strategy Approach
Chase Consulting helps organisations get the best out of creativity, ideas, opportunities and the latest discoveries, to improve performance and outcomes and people’s lives through innovation.Our Innovation Research has uncovered that highly-innovative organisations are delivering more than two times the innovation benefits than average organisations from their innovation programs.
We know how to:
- Develop innovation strategy, frameworks, design thinking processes and toolkits that make innovation a repeatable and consistent process.
- Pursue a range of innovations across business units and different time horizons.
- Discover and select the right opportunities to innovate.
- Run sustainable innovation campaigns.
- Engage staff and partners in innovation projects.
- Demonstrate the innovation ROI on funding.
- Reduce the time to develop a tangible innovation project from a good idea.
- Identify and overcome critical challenges.
- Spot gaps in an organisation’s capacity to innovate.
- Test business ideas and assumptions.
- Successfully scale and launch innovations into “business as usual” operations.
How can an Innovation Strategy help your organisation grow?
Innovation Strategy
Our experience designing and running strategic innovation projects for organisations has proven that innovation strategy development is a collaborative process involving the senior leadership team.In our recent Innovation Research Study, we identified the biggest innovation challenge and priority for organisations as creating value from their innovation efforts.
A critical question for organisations is where should you strategically allocate your innovation efforts?
Achieving the right balance across all three types of innovations is essential for long term sustainability.
- Incremental Innovation - improving existing products/services
- Adjacent Innovation - expanding existing products, services and expertise into new spaces
- Transformation Innovation - entirely new products, services and business models
Developing the Innovation Vision
The innovation vision is a concise statement which defines what the innovation will achieve for the organisation. It is realistic and easy to understand and remember.This phase:
- Understands the innovation opportunities, capability, culture and the role of innovation for the organisation.
- Benchmarks the organisation's innovation capability to identify the strongest and weakest areas, and options for developing innovation capability that delivers results.
- Defines innovation for the organisation.
- Develops the vision for innovation.
Developing the Innovation Strategy
The innovation strategy is the set of choices we make about how we allocate resources, develop our capability, and align the innovation initiatives to achieve the strategic goals of the organisation.This phase:
- Evaluates the Innovation Strategy options, including mapping and prioritising the current and future innovation activities.
- Develops the 3 to 5-year innovation strategy.
Our Innovation Strategy Approach
Chase Consulting helps organisations get the best out of creativity, ideas, opportunities and the latest discoveries, to improve performance and outcomes and people’s lives through innovation.Our Innovation Research has uncovered that highly-innovative organisations are delivering more than two times the innovation benefits than average organisations from their innovation programs.
We know how to:
- Develop innovation strategy, frameworks, design thinking processes and toolkits that make innovation a repeatable and consistent process.
- Pursue a range of innovations across business units and different time horizons.
- Discover and select the right opportunities to innovate.
- Run sustainable innovation campaigns.
- Engage staff and partners in innovation projects.
- Demonstrate the innovation ROI on funding.
- Reduce the time to develop a tangible innovation project from a good idea.
- Identify and overcome critical challenges.
- Spot gaps in organisation’s capacity to innovate.
- Test business ideas and assumptions.
- Successfully scale and launch innovations into “business as usual” operations.
How Can We Help You?
Connect with Chase to discuss the strategies and projects to improve your business.SCHEDULE YOUR COMPLIMENTARY STRATEGY CALL
Our Work with Clients on Innovation Strategy Outcomes
Latrobe Community Health Service - Innovation Strategy
Triathlon Victoria - Sustainability Planning For A New Innovation
Squash & Racquetball - Launching A New Program Innovation
Innovation Research - Developing, Launching And Scaling Innovations In 2020
Innovation Quick Wins - Delivering Results Fast
How To Successfully Drive Innovation In Organisations
The Strategies And Techniques Of Innovators
What An Innovation Sprint?
How To Innovate To Emerge From COVID-19 In A Stronger Position
Let's Connect
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Discuss the strategies and projects to improve your organisation, and find out how we can help achieve your goals.
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