Editor's Note: Take a look at our featured best practice, Design Thinking (225-slide PowerPoint presentation). [NOTE: Our Design Thinking presentation has been trusted by an array of prestigious organizations, including industry leaders such as Apple, MIT, NASA, Ford, Boeing, Fujitsu, Syngenta, Palo Alto Networks, and Mercer, to name just a few.]
Design Thinking is a process for creative problem solving. [read more]
Also, if you are interested in becoming an expert on Innovation Management, take a look at Flevy's Innovation Management Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
Situations like this stimulate some organizations to partner with others. Fruitful partnerships comprise of having the appropriate people, processes, and organizational backing—in other words a whole ecosystem.
The Centralized Innovation Ecosystem is the most commonly used system across the globe. Key characteristics of this Innovation ecosystem include company acting as a Broker or Hub, creating separate relationships with each involved entity, entities involved not interacting with each other directly rather via the Broker.
Centralized Ecosystem Strategy hinges on containing precise, distinct problems and solutions. It is successful in mature industries.
In many situations, the conventional approach for Innovation Ecosystem Strategy development does not work.
The Adaptive Innovation Ecosystem is suited better for environments where requirements are fuzzy or industries are still maturing and need collaborations. Adaptive Innovation Ecosystem has the company acting as an Orchestrator, connecting entities that work together directly.
Adaptive Ecosystem Strategies are appropriate for circumstances where the problem and the solution are indeterminate or still being categorized.
Research on how companies create value from partnerships and Innovation Ecosystems has been on-going for more than 15 years. Findings of this revolutionary research suggest that implementing an Adaptive Ecosystem Strategy necessitates utilizing the following 6-phase approach.
Define the area of exploration.
Find and attract the right partners.
Connect uncommon partners.
Connect the partners into an ecosystem.
Leverage opportunities to transform.
Allow partnerships to be flexible.
Let us delve a little deeper into details of the first 3 phases of this approach.
Define the Area of Exploration
Adaptive Innovation Ecosystems are deployed where the environment is ambiguous. It is, therefore, logical that the first step in an Adaptive Ecosystem Strategy should be to define the area that needs exploration.
In order to develop an Adaptive Innovation Ecosystem, it may be necessary for the Orchestrator to look beyond its industry to find partners. It may have to use unconventional ways of attracting them.
Experience has shown that partnering with uncommon entities have resulted in some of the most effective Adaptive Innovation Ecosystems Strategies.
Partnering entities are, at times, on the outer fringes of the industry or even outside the industry in which the said company operates. Challenge in this phase is ascertaining the competences needed for Innovation.
Connect Uncommon Partners
Centralized Innovation Ecosystems often operate on the basis that keeps partners separate from one another. Effectiveness of Adaptive Innovation Ecosystems is contingent on direct collaboration among partners. Orchestrators play the part of bringing these uncommon partners together. Bringing together uncommon partners can be demanding as many of the partners have never worked with one another. Also, there are few models for such collaboration.
Companies that have worked in Adaptive Ecosystems have come to the conclusion that, intrinsically, group effort do not go along a fixed pattern.
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Innovative business models can reshape industries and drive tremendous growth. However, many organization find business model innovation difficult. The framework outlined in this presentation is based on the HBR article "Reinventing Your Business Model," authored by Clayton Christensen, Mark [read more]
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To be competitive and sustain growth, we need to constantly develop new products, services, processes, technologies, and business models. In other words, we need to constantly innovate.
Ironically, the more we grow, the harder it becomes to innovate. Large organizations tend to be far better executors than they are innovators. To effectively manage the Innovation process, we need to master both the art and science of Innovation. Only then can we leverage Innovation as a Competitive Advantage, instead of viewing Innovation as a potential disruptive threat.
Partnerships among companies and universities are important drivers of the Innovation economy. Fruitful partnering with universities comprises of having the appropriate people, processes, and organizational backing to guarantee success and to detect and manage sources of conflict.
This [read more]
This toolkit contains a series of templates that are designed to capture the key elements of a innovative idea.
It is intended to a be a live document that is updated as you go through the discovery journey from idea to a revenue generating concept.
Each framework has key concepts that need [read more]
Organizations undergo different phases of development. Some reach maturity and then decline over time, whereas others just fade away in the startup phase.
A few organizations, however, evade collapse and maintain Growth for years. They accomplish this by allocating dedicated resources, [read more]
The first document in Straticx's new InnovationWorks series focuses on Ideation: A framework and process for developing new innovative ideas. The deck covers the tools and methodologies for:
1. Uncovering unmet needs
2. Defining the problem
3. Creating solutions
The tools and methodologies [read more]
When new technologies and competitors disrupt markets
