The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities

The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities

The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities

The Power of Strategy Innovation: A New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities

Synopsis

Strategic planning sounds business-as-usual dull, while innovation conjures up images of corporate vision and risk-taking. The truth is, the two must be brought together for companies to excel in dynamic markets. The Power of Strategy Innovation presents a five-phase Discovery Process for staging, aligning, exploring, creating, and mapping the paths between analytical, numbers-oriented, day-to-day planning and market-centric, discovery-driven innovation that focuses on the future. This edition updated in 2013 to include a new Preface and Epilogue, describing the emergence of Enterprise Innovation.

Excerpt

The global competitive landscape has never been more challenging for a company wanting to achieve growth. Turbulence and uncertainty have become the new steady state. Companies that are accustomed to a predictable future are wandering and wondering. Many of these organizations view innovation as the key to success.

In the 2013 Insigniam Global Executive Survey, 87 percent of executives said innovation is the most important or a very important factor in their organizations’ ability to succeed and strengthen competitive advantage in the next 12 to 36 months. Only 12 percent of the executives surveyed said they feel their organizations are very well prepared to generate the needed level of innovation.

The American Management Association, in concert with the Human Resources Institute, surveyed executives to assess the importance of innovation for longer-term success in a similar 2006 survey covering a longer time horizon. Eighty-five percent responded that by 2016, innovation would be ‘‘extremely important’’ or ‘‘highly important.’’ This survey revealed that the top reason for innovation is customer demand, both now and moving forward.

Anyway you slice it, innovation is ‘‘hot!’’ Bob Johnston and Doug Bate, authors of this book, have been involved with corporate innovation since the days when innovation was not hot. In the 1980s, product innovation was accepted, but applying innovative principles to strategy in the C-Suite was just too risky. Over the years, Johnston and Bate drove future growth in many large organizations . . .

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