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Product Innovation has become everyone's responsibility. But, when everybody owns innovation, nobody owns innovation.

Strategically, Product Innovation now calls for Innovation Management to minimize duplication and confusion. Innovation Management provides clarity and delineation on accountability (authority) versus responsibility (stake) by providing direction and prioritizing investments.

Building an innovation-competent organization required the application of fundamental approaches to achieve evolutionary innovation:

1. Application of Innovation Ambition Matrix as a powerful collaboration framework. This will help our company decide how to analyze different growth initiatives.

2. Objective selection of the Organizational Model (Centralized, Decentralized, or Federated) that best fits our organization and culture.

While not one model fits our organization, an Organizational Model directs our company towards achieving both evolutionary and breakthrough innovations.

Innovation is about being fast, agile, lean, and adaptable. An appropriate model can establish the foundation of our company for a culture of collaboration and innovation success. Proper Product Innovation initiatives can lead to a well-considered organizational choice and successful competitive cultural shift.

This deck also includes slide templates for you to use in your own business presentations.

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Source: Product Innovation Management PowerPoint document

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