Many companies recognise the importance of innovation in developing R&I projects and activities, but some find it challenging to develop the most efficient strategy, processes, organisational and financial resources. This priority of integrating innovation into company management must also be combined with other relevant currents of change (digital transformation, social impact…).
An appropriate innovation strategy allows for these transformation challenges to be addressed in a coordinated and effective manner, from an integrated perspective. It is the link between the definition and development of new products or services and a company’s overall business strategy. With the appropriate innovation strategy, a company can integrate all the elements necessary to bring these new products or services forward on the market, into its business strategy.
At ZABALA Innovation, we have a team of experts in Innovation Strategy, led by Guillermo Dorronsoro, Management Board Advisor at ZABALA Innovation, who can help make the link between “Strategy” and “Innovation.”
Here are some tips on how to elaborate an effective innovation strategy:
30+
Years of practical experience in business innovation consulting
2018
Year of approval of the latest version of the Oslo handbook
2019
ISO 56000 approval year (Innovation Management)
40%
Of companies find it difficult to prioritise innovation (INE 2019)
1. Open Innovation
Connect with the innovation ecosystem (Open Innovation).
2. Trends
Understand the trends that will affect your business, and react proactively.
3. Implementation
Move from concepts to practical implementation, connecting R&I and business.
4. Resilient
Exercise resilient leadership, maintaining your organisation's purpose in a changing context.
“Innovation is a key tool to overcome this crisis, it is a question of strategy. Does your organisation embrace 'change' naturally and systematically? That is the differentiator, the real mechanism of value creation.””
Guillermo Dorronsoro
Management Board Advisor / Executive Committee
How does innovation and productivity strategy come together?
The simplest thing to do is to ask yourself if you identify with these statements:
If so, your organisation could greatly benefit from an Innovation Strategy. Contact ZABALA Innovation for guidance and help in defining your organisation’s strategy.
Find out more in this series of articles:
What is ISO 56000?
ISO 56000, Innovation management: is the fourth in an eight-part series of standards and other guidance documents designed to help organisations use the correct terminology for innovation management and communicate consistently about their processes, achievements and learning paths.
It provides the vocabulary, concepts and fundamental principles of innovation management, and is useful for organisations that want to make their innovation management activities visible and credible.
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