How can an Innovation Strategy help your organisation grow?
Innovation Strategy
Our experience in designing and running strategic innovation projects for organisations has proven that innovation strategy development is a collaborative process involving the senior leadership team.
In our recent Innovation Research Study, we identified the biggest innovation challenge and priority for organisations as creating value from their innovation efforts.
A critical question for organisations is where should you strategically allocate your innovation efforts?
Achieving the right balance across all three types of innovations is essential for long term sustainability.
Incremental Innovation - improving existing products/services
Adjacent Innovation - expanding existing products, services and expertise into new spaces
Transformation Innovation - entirely new products, services and business models
Developing the Innovation Vision
The innovation vision is a concise statement which defines what the innovation will achieve for the organisation. It is realistic and easy to understand and remember.
This phase:
Understands the innovation opportunities, capability, culture and the role of innovation for the organisation.
Benchmarks the organisation's innovation capability to identify the strongest and weakest areas, and options for developing innovation capability that delivers results.
Defines innovation for the organisation.
Develops the vision for innovation.
Reference https://www.chasegroup.com.au/innovation-capability-benchmark-tool
Developing the Innovation Strategy
The innovation strategy is the set of choices we make about how we allocate resources, develop our capability, and align the innovation initiatives to achieve the strategic goals of the organisation.
This phase:
Evaluates the innovation strategy options, including mapping and prioritising the current and future innovation activities.
Develops the 3 to 5-year innovation strategy.
Our Innovation Strategy Approach
Chase Consulting helps organisations get the best out of creativity, ideas, opportunities and the latest discoveries, to improve performance and outcomes and people’s lives through innovation.
Our Innovation Research has uncovered that highly-innovative organisations are delivering more than two times the innovation benefits than average organisations from their innovation programs.
We know how to:
Develop innovation strategy, frameworks, design thinking processes and toolkits that make innovation a repeatable and consistent process.
Pursue a range of innovations across business units and different time horizons.
Discover and select the right opportunities to innovate.
Run sustainable innovation campaigns.
Engage staff and partners in innovation projects.
Demonstrate the innovation ROI on funding.
Reduce the time to develop a tangible innovation project from a good idea.
Identify and overcome critical challenges.
Spot gaps in an organisation’s capacity to innovate.
Test business ideas and assumptions.
Successfully scale and launch innovations into “business as usual” operations.
How can an Innovation Strategy help your organisation grow?
Innovation Strategy
Our experience designing and running strategic innovation projects for organisations has proven that innovation strategy development is a collaborative process involving the senior leadership team.
In our recent Innovation Research Study, we identified the biggest innovation challenge and priority for organisations as creating value from their innovation efforts.
A critical question for organisations is where should you strategically allocate your innovation efforts?
Achieving the right balance across all three types of innovations is essential for long term sustainability.
Incremental Innovation - improving existing products/services
Adjacent Innovation - expanding existing products, services and expertise into new spaces
Transformation Innovation - entirely new products, services and business models
Developing the Innovation Vision
The innovation vision is a concise statement which defines what the innovation will achieve for the organisation. It is realistic and easy to understand and remember.
This phase:
Understands the innovation opportunities, capability, culture and the role of innovation for the organisation.
Benchmarks the organisation's innovation capability to identify the strongest and weakest areas, and options for developing innovation capability that delivers results.
Defines innovation for the organisation.
Develops the vision for innovation.
Reference https://www.chasegroup.com.au/innovation-capability-benchmark-tool
Developing the Innovation Strategy
The innovation strategy is the set of choices we make about how we allocate resources, develop our capability, and align the innovation initiatives to achieve the strategic goals of the organisation.
This phase:
Evaluates the Innovation Strategy options, including mapping and prioritising the current and future innovation activities.
Develops the 3 to 5-year innovation strategy.
Our Innovation Strategy Approach
Chase Consulting helps organisations get the best out of creativity, ideas, opportunities and the latest discoveries, to improve performance and outcomes and people’s lives through innovation.
Our Innovation Research has uncovered that highly-innovative organisations are delivering more than two times the innovation benefits than average organisations from their innovation programs.
We know how to:
Develop innovation strategy, frameworks, design thinking processes and toolkits that make innovation a repeatable and consistent process.
Pursue a range of innovations across business units and different time horizons.
Discover and select the right opportunities to innovate.
Run sustainable innovation campaigns.
Engage staff and partners in innovation projects.
Demonstrate the innovation ROI on funding.
Reduce the time to develop a tangible innovation project from a good idea.
Identify and overcome critical challenges.
Spot gaps in organisation’s capacity to innovate.
Test business ideas and assumptions.
Successfully scale and launch innovations into “business as usual” operations.
How Can We Help You?
Connect with Chase to discuss the strategies and projects to improve your business.
Our Work with Clients on Innovation Strategy Outcomes
Latrobe Community Health Service - Innovation Strategy
Triathlon Victoria - Sustainability Planning for a New Innovation
Squash & Racquetball - Launching a New Program Innovation
Innovation Research - Developing, Launching and Scaling Innovations in 2020
Innovation Quick Wins - Delivering Results Fast
How to Successfully Drive Innovation in Organisations
The Strategies and Techniques of Innovators
What an Innovation Sprint?
How to Innovate to Emerge from COVID-19 in a Stronger Position
Innovation Research Video Series
The innovation research study video series is a Chase Consulting initiative that helps organizations learn valuable lessons enabling them to improve their innovation performance.
The innovation research studies are uncovering significant innovation outcomes and results for organizations of all sizes, sectors and industries.
Our short series of videos explores the innovation practices of high performing organizations.
How does your organization compare?
And what lessons can you learn from the best innovators in industry?
Video 1 – Introduction
Learn about the types of organizations that are innovating strategically, which are creating and embedding a culture for innovation, and are delivering more value from their innovation initiatives.
Theses organizations have a significant advantage when it comes to their people, their innovation culture, innovation program focus, maturity and techniques.
Video 2 – Strategic Innovation Focus
Learn where innovative organizations are focusing their innovation efforts.
How should you strategically allocate your innovation efforts?
What is the right balance of innovations that is essential for your organization’s long-term sustainability.
How do you overcome the internal obstacles?
Video 3 – Delivering Outcomes and Results
Learn how organizations are achieving significantly more benefits from their innovation efforts than their peers. The study examined how these organizations innovate differently and what drives their innovation performance.
What is also very interesting is that these high-innovation organizations have also delivered more benefits in comparison to previous research studies.
What are some of these differences identified in our study?
What are the most important criteria in creating an organizational culture for innovation.
How do you create more value from your innovation efforts?
Video 4 – Funding Innovation
Learn about how High-Innovation organizations are investing significantly more time, effort and finances and are achieving more than 2 times the “benefits”.
How much are organizations investing in their innovation budget?
Is your organization under investing in innovation?
Where does the innovation funding come from in organizations?
Video 5 – Designing an Innovation Program
Learn more about how an innovation management system is essential to take innovation from being a series of one-off projects to a repeatable process.
How do you design an innovation program that is right for your organization?
How do organizations concurrently manage running their core business and innovating for the future?
How I would like to help you …
Strategy Call
Strategy call to discuss how to innovate strategically, create and embed an innovation culture, and deliver more value from your core business and innovation initiatives!
The cost is FREE.
What’s Included?
On the call, we will discuss your business goals and help you get clarity on how to deliver impacts and outcomes from innovation.
If we can help you and we both see the value, we will discuss the best path forward.