Framework for Innovation Selection During COVID-19 PPT
This PPT slide, part of the 23-slide Innovation during COVID-19 PowerPoint presentation, outlines a structured approach for organizations to navigate innovation during the COVID-19 pandemic. It emphasizes the need for businesses to discern between 2 types of innovation: the Traditional Innovation Process, which adapts existing solutions to meet unchanged customer needs, and the Emergent Innovation Process, which addresses new customer requirements that have surfaced due to the pandemic.
The framework is divided into 3 distinct phases: Assess, Forecast, and Leverage. The initial phase, Assess, requires organizations to evaluate their responses to the pandemic. This evaluation helps determine whether their innovations align more closely with the traditional or emergent processes.
Following this, the Forecast phase focuses on predicting the longevity of the innovations. Companies must assess whether their innovations are temporary solutions that will only be relevant during the pandemic or if they represent a sustained shift that will integrate into ongoing business operations. This distinction is crucial for strategic planning.
The final phase, Leverage, involves identifying how to utilize the insights gained from the previous phases. Organizations should consider their historical experiences to develop new innovation strategies that align with future objectives. This phase is about ensuring that the innovations not only address immediate challenges, but also contribute to long-term goals.
Overall, this structured approach provides a clear pathway for organizations to make informed decisions about their innovation strategies in a rapidly changing environment. It encourages a thoughtful analysis of current capabilities and future needs, ultimately guiding businesses toward more effective and sustainable innovation practices.
This slide is part of the Innovation during COVID-19 PowerPoint presentation.
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COVID-19 Innovation Management Strategic Planning Innovation
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