The 4 types of innovators: hunters, builders, explorers, and experimenters

The Innovation Matrix by Board of Innovation is a tool that helps organizations capture a snapshot of their current innovation initiatives, orient how they want to approach innovation, and take concrete action based on this analysis. The Matrix consists of a square divided into four sections that have two axes-high or low investment in innovation and a focus on external or internal innovation. The four types of innovators are the hunter, the builder, the explorer, and the experimenter, each with its own trade-offs. The position of the company on the matrix is not static, and companies can change their innovation efforts between external and internal actions or even switch sides.