Strategy and Implementation
The innovation strategy you have used was guided by a number of factors including the company’s growth phase and your desired outcome (motivation).
What impact has the innovation adventure had on your company’s growth?
Review your current standing in relation to the McKinsey three horizons growth model (Innovation Strategy). Have you shifted horizons or has your company moved higher within the same horizon. The innovation process should be helping your company to continue to grow.
Your innovation strategy is also built around your desired outcome/motivation, which has been discussed above. The desired outcome and the company’s growth phase have steered you towards the type of innovation strategy you used. Whether proactive, active, reactive and passive or a combination of these strategies1 was used, there is now an opportunity to review the effectiveness of this strategy.
How difficult was the process of identifying an innovation strategy?
The assessment of your company’s growth phase and your desired outcome assisted you in identifying the right innovation strategy for your innovation process. This sounds very simple, but how hard was it to determine the right innovation strategy and to develop a strategy that engaged with all stakeholders and achieved the desired outcome? You have a good opportunity to identify what factors had the most impact on your decision and whether these were the right factors to focus on.
Would another type of innovation strategy have been more effective?
The examples of the types of innovation strategies are ideal examples and may not have provided the right framework for your organisation to innovate. Think about the innovation strategy used and where it could have been improved. Do the improvements require a different type of innovation strategy or just a tweaking of your current strategy?
How difficult was the implementation of the strategy?
Implementation of an innovation strategy is a dynamic iterative process. You start with an idea, test it and either accept of reject. If rejected, you will look at other ideas. You are not filling in a script but in many cases entering uncertain waters and therefore cannot predict the outcome. Your company may not have reacted as you predicted to the implementation of the innovation strategy. Have the employees and external stakeholders embraced the innovation process or is there a need to develop stronger communication channels to establish buy-in. How can the communication networks be developed and integrated into the strategy to provide better outcomes from the innovation process.
When done well, the strategy and implementation process can foster a culture of change that enables innovation to continue and permeate throughout the organisation. Look for these changes and the development of networks that drive these changes.
1 Dodgson M., Gann D., Salter A., The Management of Technological Innovation: Strategy and Practice. Oxford University Press 2008