Inside-out versus outside-in strategy: Which is better for your business?

The article compares two innovation strategies: inside-out and outside-in. An inside-out strategy starts with assessing an organization’s core competencies and resources before looking elsewhere, while outside-in companies prioritize value co-creation with customers. The article provides examples of successful companies for both strategies, including Schorem and Apple (inside-out) and Tesco and Dell (outside-in). The key to successfully implementing either strategy lies in developing customer instinct and maintaining an outside-in perspective while also assessing organizational strengths and weaknesses. The most effective organizations skillfully balance both approaches.