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

By Robert E. Johnston Jr.; J. Douglas Bate | Go to book overview

GLOSSARY

Aligning Phase —The second phase of the Discovery Process, where the Discovery team and senior management align themselves on the focus and scope of the strategy innovation initiative, agreeing on the strategic frontier(s) to be explored.

Bifocal vision —The ability of senior management to balance the realization of both near-term and long-term opportunities.

Business model innovation vector —One of three areas to be explored by the Discovery team for the identification of insights on how innovations in business models could add value to the company.

Business opportunity —Any new product, service, or significant change in a company's current business model that results in a new or improved revenue stream for the company.

Collaboration —A style of group interaction where all team members enter the process with an open mind and a willingness to explore together, define together, and select together the opportunities that will meet the shared objectives.

Convergent phase —The second step of any creative process, when the ideas and options generated in the first (divergent) step are prioritized, according to some evaluation criteria.

Corporate gravity —An invisible force that prevents employees from venturing too far from the current business model.

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