Many executives wrestle with where to focus their company's innovation efforts. They need to craft innovation strategies built on best-in-class thinking and experience. The output should result in innovation portfolios that strike the right balance between short-term priorities and longer-term possibilities. That means executives can have confidence their teams are pursuing the right things.
The adage in innovation is that if you don't disrupt yourself, someone else will. Helping companies craft sound innovation strategies means they can have confidence they are protected from outside disruption because they've built the right systems and processes to continually look ahead and act on that knowledge.
It's one thing to pursue the right objectives when it comes to innovation; it's another thing to pursue them in the right way. Organizations should take a lean approach to innovation, investing incrementally in specific efforts as they gain confidence in the value of those efforts. That means they are not wasting time or resources on efforts that would prove fruitless.
Improvement in development lead times for companies taking a lean approach to innovation.
The Credera Brief series distills trends and ideas from Credera leaders and experts. In this edition of The Credera Brief, Credera Partner Kara Williams shares how to set a structured...
How We Can Help
Getting strategy right is often an exercise in alignment. To that end, helping organizations craft innovation strategy often means helping them define a vision for what they want to achieve through innovation, then aligning their people, resources, processes, and tools to that vision.
One process we built to help is what we call the ‘Structured Innovation’ approach. It's an iterative innovation process that spans the four stages of the typical innovation lifecycle, with steps and activities articulating what to do at each point in the innovation journey. It helps organizations diagnose where they may be struggling with innovation and what to do about it.
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Jake Carter
Chief Innovation Officer & Partner, Credera
Offerings
We help our clients craft innovation strategies that help them drive real business results from their innovation efforts.
Find growth spaces for an existing product through focused workshops blending design thinking and product strategy.
Decide where to focus innovation efforts, which opportunities to pursue, and how to structure a team to make consistent, repeatable progress.
Identify white spaces that present opportunities for an organization to meet the needs of its customers, whether new or existing.
Stand up an innovation function, including team, processes, ways of working, resources, tools, and pilots.
Evaluate which specific innovation opportunities are most worthwhile to pursue, using an objective innovation framework.
Model the revenue, growth, and profitability potential for innovation opportunities under consideration.
OUR EXPERTS
Adopting our people-first approach, our team of experts takes a holistic approach to innovation strategy that ensures organizations realize value from their innovation efforts.
Managing Director
London
Alliance Director
Chicago
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