"Why is it so hard to build and maintain the capacity to innovate? The reasons go much deeper than the commonly cited cause: a failure to execute. The problem with innovation improvement efforts is rooted in the lack of an Innovation Strategy" (Gary P. Pisano, HBR, June 2015)
But first, how do we define what an Innovation Strategy is? Generally speaking, a strategy is a plan to achieve a specific competitive goal. An Innovation Strategy is therefore a plan to create value by market share growth, cost reduction or other profit generation stream through product, service or business model innovation.
The development (or review) of an Innovation Strategy needs to be structured around:
Ultimately an Innovation Strategy must both define how innovation will satisfy customer's unmet needs and enable them to create value, and how the company will capture part of this value, in a recurring way.
As such, Innovation Strategy becomes the cornerstone that aligns the Company innovation efforts with overall Company Strategy.
With an extensive track record for leading executive workshops that successfully develop Innovation Strategies in large, multinational, multicultural company, C2V Consulting is well equipped to provide assistance to your Executive Committee to develop a new Innovation Strategy or review an existing one.
In such situation, the different elements of the strategy could be gathered from dedicated in-house teams or external consultants. In both cases C2V Consulting provides overall coordination of the different contributors and elaborates recommendations for ExCo and/or Project Steering Committee.