Innovation Roadmaps – The What, Why and How

Visual representation of complex data simplifies decision-making. Innovation roadmaps are a powerful tool to align strategy and innovation activities. A good roadmap should connect time and space across the organization, from the top to the bottom, as well as strategic goals and execution activities. Innovation roadmaps can help to align innovation capabilities and strategy, manage innovation, foster clear communication, and highlight white spots. Before developing an innovation roadmap, an organization should establish the goals, vision, and strategy, as well as who will be involved in the process, how they will communicate, and delegate tasks. Then, building the roadmap should involve compiling information, researching trends, analyzing markets, making assumptions on future market needs, identifying required components, setting goals and milestones, and mapping out a visual presentation of the plan. Finally, refining and updating the roadmap can help organizations adjust their innovation strategies as they move forward.