Innovation and Entrepreneurship

To become and/or remain competitive, organizations need to innovate. They need to think beyond their current products, services, and capabilities, and have a deep understanding of their core competencies as well as their target market.

Innovation isn’t easy. Although most business leaders and executives know that innovation is critical, they consistently confess to us that their organizations struggle with innovative activity. Our business advisors offer strategic expertise and creative solutions to help organizations of all sizes and industries with their innovation programs.

How We Can Help

By working alongside one of our trusted advisors, we can help you and your organization become more competitive through strategic innovation planning. Our experts, will dig deep into your business goals and objectives, and if necessary, even help to develop and refine them with you. We will help your organization focus its innovative efforts on the initiatives that make the most sense – the ones that will deliver the most value for your organization. Once a strategy has been developed, we can help you make it happen; our professionals can help you with implementation, making sure everything is done right – the first time.

Key Considerations

Questions to Ask

  • What types of factors tend to drive strategic focus and innovation within your organization?
  • What are the core objectives of innovation within your organization?
  • Which type(s) of innovation is your company most focused on: incremental, novelty, transformational, disruptive, etc…?
  • Does your business and innovation strategy describe how you will create value, capture this value in the face of competition, and execute the value proposition?
  • Does your innovation strategy align to your organization’s overall strategy, mission, and values?
  • Does innovation fit well within your current business model or are significant changes likely to be required to improve innovation performance?

Thoughts to Consider

  • The purpose of innovation is to become and/or remain competitive. Therefore organizations need to examine and assess their competitive position and roadmap for the future and to consider bold (or disruptive) innovations
  • Innovation investments must focus on those specific areas where the organization needs to be “leading edge” competitive In keeping with its overall business strategy.
  • Based on the strategic innovation focus of the company, various models and frameworks can be used to assess what operational transformation the organization needs to go through to prepare it for and enable successful innovation initiatives.
  • Culture is the “secret sauce” to innovation success. Although this is true, it is not a replacement for a solid innovation strategy; the two must work in harmony and complement one another.

By developing a strong Innovation Strategy your organization will:

  • Strengthen its competitive position in the market
  • Minimize risks and threats to its success
  • Increase the success of its commercialization efforts
  • Increase its value to customers and stakeholders
  • Grow and become more profitable

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