FORMALIZING A STRATEGY INNOVATION SYSTEM
Your system is perfectly designed to give you the re-
sults that you get.
—W. EDWARDS DEMING
For some companies, the pursuit of strategy innovation can be done on an as-needed, ad hoc basis. Pulling a Discovery team together periodically to explore the future of the market and customer needs will yield a portfolio of new business opportunities that could keep internal development teams busy for a couple of years.
However, there are many other companies where the intermittent pursuit of new opportunities is not enough. Industries that feature a new product line every year rely heavily on understanding their evolving market and customers. Companies that pursue a corporate strategy of market leadership and the commitment to innovation in their markets will need a more regular infusion of customer insights and market foresight to fulfill their goals. Companies in a turn-around situation will need to be constantly identifying and exploring their strategic frontiers for new business opportunities that will lead to their survival.
We believe that every company in the future will have strategy
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities. Contributors: Robert E. Johnston Jr. - Author, J. Douglas Bate - Author. Publisher: AMACOM. Place of publication: New York. Publication year: 2003. Page number: 247.
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