This PPT slide, part of the 26-slide Dual Innovation Management PowerPoint presentation, emphasizes the necessity of separating exploitative and explorative innovation ventures while recognizing their critical roles in overall business success. It begins with a clear premise: the need for distinct approaches to exploitation and exploration initiatives. This separation is based on various factors, including organizational anchoring, governance structures, and funding mechanisms.
The overview section succinctly outlines that exploitation-focused ventures are linked to existing operational business units, aimed at core transformation. These ventures are governed by decision-makers within the business unit, supported by an innovation board. Budget allocations are specifically designated for these initiatives, ensuring that resources are appropriately channeled.
On the other hand, exploration-focused ventures are managed by a dedicated unit led by a chief explorer, who directly reports to the CEO. This structure is designed to foster strategic transformation, fundamentally altering how the business operates. The chief explorer also oversees governance, ensuring that innovation efforts are aligned across all divisions through a corporate innovation board.
Financing for exploration initiatives is structured through a corporate fund with a staged investment approach, reflecting a commitment to innovation. Both types of ventures are portrayed as essential for the organization's future, with operational units focused on enhancing current business success while exploration units seek disruptive opportunities to create trailblazing businesses.
This slide serves as a vital reminder for executives to balance their innovation strategies, ensuring that both exploitative and explorative efforts receive the attention and resources they require for sustainable growth.
This slide is part of the Dual Innovation Management PowerPoint presentation.
EXPLORE MORE SLIDES FROM THIS PRESENTATION
EXPLORE MORE PRESENTATIONS ON
Flevy is the world's largest knowledge base of best practices.
Leverage the Experience of Experts.
Find documents of the same caliber as those used by top-tier consulting firms, like McKinsey, BCG, Bain, Deloitte, Accenture.
Download Immediately and Use.
Our PowerPoint presentations, Excel workbooks, and Word documents are completely customizable, including rebrandable.
Save Time, Effort, and Money.
Save yourself and your employees countless hours. Use that time to work on more value-added and fulfilling activities.
