Framework for Strategic Innovation Dimensions PPT
This PPT slide, part of the 19-slide Innovation Strategies & Leaders PowerPoint presentation, outlines a framework for innovation strategy, categorized into 4 distinct dimensions. These dimensions are critical for organizations aiming to navigate their innovation efforts effectively. The framework is structured around 2 primary axes: the objective of innovation and the focus of innovation.
On the vertical axis, the objectives are divided into 2 categories: "New business creation" and "Business reinforcement." This distinction highlights the different goals organizations may pursue through innovation. New business creation focuses on developing entirely new offerings or markets, while business reinforcement emphasizes enhancing existing products or services to maintain or improve market position.
The horizontal axis presents the intensity of innovation, ranging from "Radical" to "Incremental." Radical innovation involves significant changes that can disrupt markets or create entirely new ones, whereas incremental innovation refers to smaller, gradual improvements that enhance current offerings.
The intersection of these axes creates a matrix that defines 4 innovation thrusts. Each quadrant represents a unique approach to innovation based on the organization's objectives and the intensity of change desired. This structured approach allows senior management to critically assess where to allocate resources and efforts in their innovation strategy.
The slide also emphasizes the importance of boundaries, indicating that organizations must consider with whom they will innovate. This aspect is crucial for collaboration and partnership decisions, which can significantly impact the success of innovation initiatives.
Overall, this framework serves as a strategic tool for executives to align their innovation efforts with organizational goals and market demands.
This slide is part of the Innovation Strategies & Leaders PowerPoint presentation.
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