Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for consumers, customers and the corporation. It challenges an organization to look beyond its established business boundaries and mental models and to participate in an open-minded, creative exploration of the realm of possibilities. A Strategic Innovation initiative generates a portfolio of breakthrough business growth opportunities using a disciplined yet creative process.
There is no good just being better … You got to be different!
- Identify long-term opportunities
- Assume a revolutionary mindset
- Create new competitive space or playing fields
- Seek breakthrough, disruptive innovation
- Seek inspiration from unconventional sources
- Seek unarticulated consumer needs
- Implement process discipline with creative inspiration
- Experiment with entrepreneurial new ventures
- Create partnership with enterprises
- Connect with venture capitalists