Strategic innovation means developing new competencies and embracing ambiguity and uncertainty. The discomfort this causes means you’re doing things right.
Strategic innovation is a learning and thinking process; it’s a journey in pursuit of demand and design insights. The “aha” moments only come after immersing yourself in a thorough and structured exploration of the future.
The objective of strategic innovation is to discover opportunities – not just products and services. An opportunity is a catalyst; it incorporates what is wanted (by the marketplace) and what is possible (technologically) with a viable business model.
Individual creativity is helpful but not sufficient for strategic innovation. Collective creativity arises out of the mingling of diverse perspectives and knowledge from experts and non-experts alike.
A robust innovation strategy includes having a view of the future, knowing where to explore, designing the right portfolio and making the necessary cultural and structural commitments.
Understanding the true motivations of both internal and external communities — employees, customers, partners, consumers, influencers — is a critical part of strategic innovation. Ecosystem insights lead to improved adoption by the customer and the company.