What Is a Target Operating Model and Why Do You Need One?

What Is a Target Operating Model and Why Do You Need One?

Target operating models help visualize how a company operates to provide value to beneficiaries and customers. They take into account both the current state of the company and where it wants to be in the future. Operating models can help trim expenses, create a business plan for growth, and determine the most beneficial chains for your company. Regular updates reflect changes in the market and your company, and empower your governance team to address weak links or monitor progress toward goals. Operational models provide visualization for your company’s growth, streamline processes, and help employees see how their daily tasks influence the business and customers more directly.

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More Innovation Resources:

How to Measure Innovation Capability

Measuring innovation capability is crucial for product leaders. Understanding the source of ideas, tying ideas to strategy, and learning from mistakes are three ways to improve innovation performance.

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L.I.V.E. (Lean Innovation, Validation & Execution): A new, more effective way to manage multiple innovation projects

Traditional project management processes are not effective for innovation projects. Instead, the L.I.V.E. method allows for faster, cheaper and less risky delivery of complex innovation projects by validating progress through a set of 10 questions.

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Can Challenges Be Structured Around Transformation?

Innovation platforms should be designed to channel input from the edge of an organization to create original, competitive knowledge about change. The challenge design must be skilled to be disruption and big transformation-ready.

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