{"id":12324,"date":"2022-12-10T10:13:39","date_gmt":"2022-12-10T15:13:39","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=12324"},"modified":"2022-12-10T10:13:39","modified_gmt":"2022-12-10T15:13:39","slug":"dual-innovation-ecosystem-strategy","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/dual-innovation-ecosystem-strategy\/","title":{"rendered":"Dual Innovation Ecosystem Strategy"},"content":{"rendered":"

\"\"<\/p>\n

When new technologies and competitors disrupt markets<\/a>, many enduring organizations exert to keep going.\u00a0 Possible reasons for disruption may be multiple but one of them is inadequate preparation to develop new products<\/a> and services during uncertain times.<\/p>\n

In order to manage disruptions<\/a> some businesses partner with others.\u00a0 Productive partnerships comprise of having the right people, processes, and organizational backing\u2014simply put\u2014a whole ecosystem.<\/p>\n

Creating an appropriate type of Innovation Ecosystem is crucial for guaranteeing success and to identify and manage sources of conflict<\/a>.<\/p>\n

Conventional Innovation Management<\/a> is unable to sustain itself in the face of contemporary needs.\u00a0 Dual Innovation has become a necessity for businesses to survive intense competition in today\u2019s markets.<\/p>\n

Dual Innovation refers to extending current Business Models in new directions, as well as creating completely novel Business Models at the same time.\u00a0 For such ambidexterity, organizations ought to have an Innovation Management Model that can aid them in innovating more effectively and viably.<\/p>\n

Contemporary method of Dual Innovation is founded on 3 fields of Innovation and 2 strategic Directions of Action.<\/p>\n

The 2 strategic Directions of Action are:<\/p>\n

    \n
  1. Adapt<\/strong>\u2014Modification of current core business or Operating Models.<\/li>\n
  2. Scale<\/strong>\u2014Ramping-up of authenticated, sweeping or even disruptive Innovation ideas, to convert them into substantial business impact.<\/li>\n<\/ol>\n

    The 3 Fields of Innovation have been dubbed as Playing Fields, each with its unique conditions:<\/p>\n

      \n
    1. Playing Field 1<\/strong>\u2014Optimize the Core<\/strong>.<\/li>\n
    2. Playing Field 2<\/strong>\u2014Reshape the Core<\/strong>.<\/li>\n
    3. Playing Field 3<\/strong>\u2014Create the New<\/strong>.<\/li>\n<\/ol>\n

      \"\"<\/a><\/p>\n

      The 3 Playing Fields of Innovation are a result of relationship and impact of Innovation with the core business.\u00a0 Proximities of the Playing Fields to the core business\u2014the reason for their uniqueness\u2014are with regard to:<\/p>\n