In the Digital Age marked by rapid technology change, virtually no company can ignore the imperative to innovate. Failing to do so is an invitation to lose business.
To learn how companies are responding to this mandate, a global consultancy conducted a major global study in 44 countries. The goal was to understand how leaders view Innovation and what is being done to reap its rewards. Findings showed that companies are struggling with aligning Innovation efforts with Business Strategy. Companies across a wide range of industries and technology are also enlisting technology as the driver for market change and Innovation and not just an enabler.
A great number of organizations are also opening up the Innovation process earlier to a broader set of stakeholders both inside and outside the company. Customers are already brought in even while in the ideation phase. Today, Innovation is no longer the domain of a chosen few.
This Innovation Strategy PPT presentation discusses the 5 Principles of Innovation Strategy essential in guiding organizations to make breakthroughs in Innovation.
1. Strategy-driven Innovation Spend – Innovation spend is not the size of the budget but how it is spent from strategy through execution.
2. Viable Business Models – For initiatives to deliver value, Innovation efforts must be aligned with the company’s Corporate Strategy.
3. Open Innovation Models – Traditional barriers must be broken down and a much wider ecosystem for ideas, insights, talent, and technology must be tapped.
4. Human Experience – Human experience and insights of all kinds are essential in shaping and delivering new ideas, solutions, products, and services.
5. Technology-driven Innovation – Technology has become the driving source of Innovation. Technology has ceased to be used mainly to keep pace with market demands and competitors’ Innovation.
Each of these principles of Innovation Strategy is discussed in depth within this PowerPoint presentation.
In an era of rapid technology and market change, it is now essential of companies to increase their capacity to innovate.
This Strategic Innovation PPT also includes slide templates that depict the 5 Principles of Innovation Strategy. Furthermore, you can re-purpose the majority of these Innovation Strategy slides for your own business presentations.
Three-quarters of customers are now using digital channels that yield troves of data leading to further innovation. Organizations of all sizes across all industries are engaging in Digital Transformation initiatives.
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Source: Best Practices in Digital Transformation, Innovation PowerPoint Slides: 5 Principles of Innovation Strategy PowerPoint (PPT) Presentation Slide Deck, LearnPPT Consulting
This PPT slide presents survey results regarding the significance of various internal and external partners in driving innovation within organizations. The primary focus is on the role of internal employees, who were identified as the most critical contributors, with 60% of respondents highlighting their importance. This underscores the notion that innovation is not solely the domain of external partners, but heavily relies on the insights and creativity of the workforce.
Following internal employees, technology partners are noted as vital, with 50% of participants recognizing their contribution. This suggests that technological collaboration is essential for enhancing innovative capabilities. Channel and business model partners come next at 44%, indicating that strategic alliances in these areas also play a significant role in fostering new ideas and approaches.
Customers are recognized for their input through focus groups, data mining, and feedback, with 35% of respondents valuing their contributions. This highlights the importance of understanding customer needs and preferences in the innovation process. Supply chain partners, similar organizations outside the regional market, and academic institutions follow, with decreasing percentages, suggesting that while they are important, their influence is less direct compared to internal employees and technology partners.
The slide concludes with a note emphasizing that employees are not just contributors, but also consumers who can provide valuable end-user insights. This reinforces the idea that a culture of innovation should leverage the diverse perspectives within the organization to drive successful outcomes. Overall, the data illustrates a clear hierarchy of importance among various partners in the innovation ecosystem, with internal employees at the forefront.
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