Innovation Strategies

Encompasses various approaches and frameworks used to guide and drive innovation efforts.

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Win-Win

A situation that provides an advantage to both parties, as opposed to a zero-sum scenario.

Vertical Integration

Vertical Integration is often referred to as a strategic move made by a company wanting to move from the production end to sales end.

Value Creation

Value creation is the key to identifying and generating unique business opportunities for a business to grow and prosper.

Value-Add

Value created by a company for a product or service for a customer and that customer perceives enough value to purchase the product.

Top-Down Approach

Top-down approach is a hierarchical way of dealing with larger problems by breaking them down into smaller projects or tasks.

Three Horizon Framework

Three horizon framework comprises the three types of innovation: the core business over the short term, emerging opportunities, and potentially disruptive ideas.

The Six I's of Innovation

The six aspects that drive innovation culture and sustainable business excellence within an organization: Ideation, Insight, Inclusion, Inspiration, Implementation, Impact.

Theory of Growth

The Theory of Growth suggests that every innovation goes through its own life cycles and stages of growth.

Ten Types of Innovation

A framework developed by Larry Keeley, Helen Walters, Ryan Pikkel and Brian Quinn of Deloitte to identify new forms of value.

Tailored

Adaptation of products and services to individual customer needs. Features of product are modified to meet specific requirements.

A tactic is a specific, identifiable element in a business strategy. It helps to break down top-level goals and strategic initiatives into detailed action steps so the strategy can be executed effectively.

SWOT Analysis

SWOT Analysis is a strategic planning technique used to help a company identify strengths, weakness, opportunities, and threats related to business competition or project planning.

Sweet Spot

The center of a mass is lifted when rotating an object. Metaphorically, it refers to an optimal range for the development of something

Strategy Innovation

Strategy Innovation is the combination of strategic management with cutting edge business model thinking to generate and deliver impactful and resonant ideas; either within an organization or its ecosystem.

Standards

Set of accepted guidelines for manufacturing products and carrying out processes to promote efficiency, safety, and optimal related outcomes.

Simplification

Simplification reduces the number and diversity of products or services, functionalities, features to make it less complex and cheaper.

Short-Term

Short-Term is a strategy that is focused on the immediate future.

Shared Value

A management strategy focused on companies creating measurable business value by identifying and addressing social problems

Self-Disruption

Self-disruption is the process of a company recalibrating its strengths through the identification and capitalization of emergent opportunities, thus disrupting its own operational paradigms and product portfolios.

Sector Innovation

The act of transforming industry sectors through Businesses practices and technology innovation.

Rules of Innovation

A set of constructs that structures the innovation process and governs how to approach challenges and implement new ideas.

Roadmaps

A tool or process that leaders use to map out crucial development steps, including Bak and Nour implementations, for successful innovation.

Revenue Growth

The increase in a company's sales is commonly referred to as revenue growth.

Reinvention

The act of creating a product, service, or process that is new, toward a specific end or goal

Quick Wins

Projects that can be completed quickly once they are given priority over other tasks

Purpose Driven

Concise definition

Pipeline Innovation

Process of collecting, assessing, selecting, and developing ideas into innovative products or services in a structured manner.

Outcome-Based Innovation

Outcome-Based Innovation focuses on the results rather than the features or benefits of a new offering.

New Business Models

They represent the ways a company creates, delivers, and captures value.

Michael Porter

A leading authority on competitive strategy. Developed a range of economic theories, including the five forces framework.

Low Cost

Minimum amount of money to achieve the maximum impact or result.

Long-Term Strategy

Using a long-term strategic plan, a company aims to align its resources and execute initiatives that target future opportunities.

Lean and Agile

Lean and Agile is a business methodology that emerged as a response to the unpredictable nature of today’s market and technology.

Large-Scale Innovation

IP Protection

The collective set of laws aimed at protecting a company's innovations to grants exclusive rights over creations to its owner.

Integrated Innovation

Integrated Innovation: A strategy combining diverse innovation types—product, process, and business model—for holistic value creation.

Innovator's Dilemma

Innovator's Dilemma: Conflict firms face when new tech disrupts their successful products, challenging existing business models.

Innovation Theory

Innovation Theory explores how and why new ideas translate into societal, technological, and business advancements.

Innovation Roadmap

An Innovation Roadmap is a strategic plan outlining the steps to evolve ideas into marketable solutions, aligning with business goals.

Innovation Policy

Innovation Policy is a strategic framework that governs the support and regulation of new ideas, products, or methods.

Innovation Platforms

Innovation platforms are digital ecosystems that facilitate idea exchange, collaboration, and resource integration for novel solutions.

Innovation Objectives

Innovation objectives are specific goals that guide the creation and implementation of new value in a business context.

Innovation Model

An innovation model is a framework that guides the generation, development, and implementation of new ideas within an organization.

Innovation-Led Growth

Innovation-led growth is business expansion driven by the strategic implementation of novel ideas and solutions.

Innovation Jobs

Innovation Jobs: Roles focused on creating and implementing novel solutions within organizations to drive growth and competitive advantage.

Innovation Goals

Innovation goals are specific targets set to guide the creation and implementation of novel value-driving solutions within a business.

Innovation Frameworks

Innovation frameworks are structured guidelines used to steer the process of ideating, developing, and implementing new solutions.

Innovation Drivers

Innovation drivers are key factors that stimulate the development and implementation of new ideas, products, or processes in a company.

Innovation Challenges

Innovation Challenges are organized contests aimed at solving specific problems through creative ideas and novel solutions.

Innovation Ambition

Innovation Ambition refers to an organization's aspirational goal to advance and implement pioneering ideas that drive transformation.

Innovation Agility

Innovation agility is the ability to rapidly adapt and evolve business models and products in response to changing market demands.

Hybrid Model

A Hybrid Model combines various elements from different methods or systems to leverage diverse strengths and adaptability in a business context.

Holistic Approach

A holistic approach integrates all aspects of a problem or system for comprehensive solutions and outcomes.

Growth Strategies

Growth strategies are methods businesses use to expand market share, revenues, and competitive standing through organic or inorganic means.

Growth Opportunities

Growth opportunities are avenues through which businesses can expand their market presence, revenue, or product offerings, fueling progress.

Growth Differentiation

Growth differentiation: Strategy to distinguish a product or service by unique features to drive business expansion.

Global Innovation

Global Innovation: The cross-border creation of novel solutions addressing worldwide needs and challenges.

Game Changing

Game-changing refers to innovations that create a new market or disrupt existing ones, significantly altering the competitive landscape.

Fragmentation

Fragmentation: The process of a market or industry splitting into smaller segments, often leading to increased specialization.

Framework

A framework is a structured approach to address complex issues, guiding analysis and actions within innovation processes.

Expansion

Expansion: A strategic growth phase where businesses scale operations, enter new markets, or diversify product lines for increased reach.

Enterprise Portfolio

Enterprise Portfolio: A strategic overview of a company's projects, investments, and initiatives aligned with business objectives.

End-to-End

End-to-End refers to solutions that cover an entire process from start to finish, integrating all stages for seamless functionality.

Disruptive Innovation

Disruptive Innovation: A novel product/service that upends markets by displacing established leaders and reshaping industry dynamics.

Ecosystem Innovation

Ecosystem Innovation: The creation of novel value by leveraging interconnected networks of diverse organizations and stakeholders.

Disruptive Technologies

Disruptive Technologies are inventions that radically alter industries by displacing established solutions or business models.

Disruption

Disruption: A profound change that alters a market by displacing established norms with novel solutions, often creating new industries.

Differentiation

Differentiation: Creating unique product/service features to stand out in the market.

Cynefin Framework

Cynefin Framework is a decision-making model for understanding complex systems and situations across 5 domains: simple, complicated, complex, chaotic, and disorder.

Creative Strategy

Creative Strategy: A roadmap blending imaginative thinking with business goals to craft novel and effective solutions to complex challenges.

Creative Destruction

Creative destruction is the process where new innovations disrupt and replace outdated industries or products, fueling economic progress.

Consistent Innovation

Consistent Innovation is the ongoing practice of implementing new ideas that create sustained value for a business.

Comprehensive Innovation

Comprehensive Innovation: Holistic integration of product, process, and business model innovation to drive systemic change.

Competitive Advantage

Competitive advantage: A unique edge a company has over rivals, allowing it to generate greater sales, margins, and retain more customers.

Business Model Innovation

Business Model Innovation involves redefining a company's value proposition and operations to create new revenue streams and competitive advantages.

Blue Ocean Strategy

Blue Ocean Strategy: Creating uncontested markets to make the competition irrelevant by innovating value and tapping new demand.

Blue Ocean

Blue Ocean refers to untapped market spaces ripe for innovation, distinct from 'Red Oceans' where fierce competition turns waters bloody.

Agile Innovation

Agile Innovation: A flexible, iterative approach to developing new products and solutions rapidly while adapting to customer feedback.

Agile Marketing

Agile Marketing: A flexible, data-driven approach prioritizing rapid iterations and customer feedback to optimize marketing strategies.

Acquisition

Acquisition: A business strategy where one company purchases a majority stake in another to boost growth and market presence.

Intellectual Capital

Intellectual Capital is the sum of a company’s knowledge assets, enhancing its competitive edge and value creation.

Convergent Innovation

A type of innovation that involves combining existing technologies or ideas in a new and innovative way.

Innovation Sandbox

A controlled environment in which organizations can test and experiment with new technologies and ideas without the risk of failure.

Frugal Innovation

The process of developing products or services that are affordable and accessible to a wide range of customers, often by using simple and low-cost technologies and design principles.

Red Ocean Strategy

Red Ocean Strategy is a business approach focused on competing in an existing market by trying to outperform the competition. It is innovation in the same space as competitors, in the competitive red ocean full of sharks.

Process Innovation

Process innovation is the improvement of existing processes to gain an advantage in terms of cost, quality or speed.

Open Innovation

Open Innovation is an approach to innovation which sources outside knowledge and resources from outside of the organization in order to find new solutions.

Innovation Strategy

Innovation strategy is a comprehensive plan to develop and implement new products, services, or processes that will help an organization achieve its goals.

Innovation Portfolio

An innovation portfolio is a structured collection of projects and initiatives that an organization pursues to drive innovation.

Innovation Lab

An Innovation Lab is a physical space where people come together to explore and develop new ideas, products or services.

Innovation Charter

An Innovation Charter is a method of opportunity management used to create and formalize an organization's commitment to innovation.

First-Mover Advantage

First-Mover Advantage refers to the benefits companies gain by being the first to enter a new market or develop a new product.