Dual Innovation Ecosystem Strategy (PowerPoint PPTX)

DESCRIPTION

When new technologies and competitors disrupt markets, numerous existing organizations struggle to carry on. Most likely reason is that they are inadequately prepared to cultivate new products and services amidst uncertainty.

Creating the appropriate type of Innovation Ecosystem is crucial for guaranteeing success, as well as identifying and managing sources of conflict.

To frame and understand how to develop a suitable Innovation Ecosystem Strategy, this framework introduces the concept of 3 Strategic Horizons of Innovation. These Strategic Horizons for Innovation are based on the proximity of the Innovation to the core business; and are defined as follows:

Horizon 1 – This strategic horizon relates to optimization of existing business, i.e., optimization of current Business Models and technologies, catering to prevailing markets.

Horizon 2 – This horizon pertains to both the existing business as well as new Business Model. Horizon 2 pertains to growth; i.e., speeding up and enhancing of fresh Business Models and technologies as well as adjustment of prevailing Business Models.

Horizon 3 – This horizon relates to generating new Business Models. The third horizon has to do with the future; i.e., unearthing and proving of novel Business Models and technologies, and determining of future markets.

These 3 "Fields of Innovation" that constitute the fundamental building blocks of the Dual Innovation Ecosystem Strategy framework, which presents us 3 strategic options:

Playing Field 1 – Optimize the Core
Playing Field 2 – Reshape the Core
Playing Field 3 – Create the New

Each field has its own unique conditions, which include Business Model, technology capabilities, time scale, accounting, metrics, methods, tools, as well as organizational and personal needs. Each Playing Field requires dedicated Leadership and Management for it to be successful.

Selection of the field to play in depends on the strategic direction our organization decides to take, whether it be:

1. Adapt – Modification of current core business or Operating Models; or

2. Scale – Ramping-up of authenticated, sweeping or even disruptive Innovation ideas, to convert them into substantial business impact.

This PowerPoint presentation on Dual Innovation Ecosystem Strategy also includes some slide templates for you to use in your own business presentations, which convey the concepts of the 3 Horizons of Innovation, the 3 Fields of Innovation, and Dual Innovation Ecosystem Strategy.

The framework also delves into the distinctions between Centralized and Adaptive Innovation Ecosystems, providing insights on their respective advantages. It highlights the importance of aligning innovation strategies with industry life cycles to ensure optimal outcomes.

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Source: Best Practices in Innovation, Business Model Innovation PowerPoint Slides: Dual Innovation Ecosystem Strategy PowerPoint (PPTX) Presentation, LearnPPT Consulting