Review the innovation strategy that you submitted for Unit 3. Applying the concepts
that you have learned from the course, how would you revise the "innovation strategy"
for your organization? What does the new strategy and implementation plan involve
that was absent from the original submission? How does the strategy and plan look
now? Be sure to address the disruptive innovations that you discussed in Unit 6 as well.
Unit 3 Innovation Strategy
The following operations should be encouraged in order to build an organization which will work on
innovation:
•
The company should work as a partner and not a single entity which means that the operations should
be handled as an ecosystem parter.The innovation ecosystem is a new concept which can be developed
where the companies will work for the greater good along with their various verticals. The sharing of
ideas will be the main theme in this approach. The conflicts which will take place due to this approach
should be taken care of and also the free flow of information should be closely monitored to avoid
repetition.The vendors in this space will realize that with the positive client experience the innovation in
customer satisfaction can greatly increase the branding strategies and the partnership alliances.
•
The company should be clear on the differentiation and also on its focus on the stakeholders focus
which means that it is important that there will be innovation but the marketing hype should be given a
chance. The companies if viewed as experts must be clear about the specialized innovation expertise.
The offerings should be clearly defined and the growing base of the collaboration tool should be used to
capitalize on the expertise of the companies.
•
Drive through innovation and move through the leadership which can attributed to the industry
driving thought leadership on innovation which has been fading away in recent times.The broad range of
interest in innovation is the reason for this.The result is that the responsibility to push the innovation
bandwagon through the clients into the market place and to make a meaningful contribution to the
profit stream should be done by effective decision making by the leadership. The continuous integration
of technology along with the strategic decision making will help in the development of a proper
landscape for testing new ideas.
