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DESCRIPTION
Today's dynamic and shrinking world necessitates taking an expanded approach to Innovation.
The traditional manner of Innovating locally and dispersing the product or service globally is no longer as effective as it once was. The reason for the traditional approach's diminished effectiveness is the easy accessibility to superlative knowledge required to Innovate.
Now, in order to access and use such knowledge effectively requires a renewed approach. Global Innovation Strategy is most effective when the 3-prong approach to Global Innovation is taken, which overcomes the Global Innovation trade-off of Knowledge Complexity vs. Global Dispersion. The 3-prong approach is as follows:
1. Compact & Agile Innovation Footprint
2. Capabilities & Structures for Communication
3. Internal & External Collaboration
Applying the required changes is daunting and can take time, but it is one of the best approaches to place an Innovative entity achieve Competitive Advantage in the future.
This framework also discusses important Global Innovation trade-offs, e.g. Knowledge Complexity vs. Global Dispersion, Autonomy vs. Control, Capability vs. Motivation, etc.
The slide deck also includes some slide templates for you to use in your own business presentations.
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Source: Best Practices in Innovation, Globalization PowerPoint Slides: Global Innovation Strategy PowerPoint (PPTX) Presentation, LearnPPT Consulting
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We are a team of management consultants trained by top tier global consulting firms (including McKinsey, BCG, Deloitte, EY, Capgemini) with a collective experience of several decades. We specialize in business frameworks based on real-life consulting engagements.
We have served 100s of clients that range from Fortune 500 companies to tech startups to $1B+ private companies.
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Fundamentals of Innovation Management & Strategy
This bundle contains 8 total documents. See the additional documents to the right.
Innovation Management Disruption Business Model Innovation Globalization Product Strategy Business Model Design Maturity Model Strategy Development McKinsey Three Horizons of Growth Education Value Proposition Distinctive Capabilities Core Competencies Competitive Advantage KPI Business Framework PowerPoint Diagrams Jobs-to-Be-Done Customer Experience Account Management Ideation Creativity Service Design Market Research Product Launch Strategy Positioning Product Lifecycle Strategic Thinking Continuous Improvement Growth Strategy
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