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INNOVATION: TO CREATE WEALTH, YOU MUST INNOVATE!
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When the strategy is complete, an innovation map, utilizing the InnoVantage Grid, can be created which represents the innovation focus of the strategy. This is done by reviewing each strategic statement, creating a list of innovation implications for each statement, and categorizing each by type of innovation. These can be weighted and combined to create an innovation strategy that is represented by the innovation map.
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Nine different types of innovation are possible in an organization. The pattern of those nine types of innovation determine the success or failure of the organization.
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The innovation profile resulting from the values identified for the non-profit organization described above could result in an innovation profile as shown.
Compare the resulting innovation map with the opportunity. Do they match? If not, review the process to find out how the discrepancies developed. Determine whether you can alter the strategy to bring it more in line with the opportunity
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Nature
Product: The output of the organization (goods, information and/or services).
Process: The way in which the product is developed, produced and distributed.
Procedure: The manner in which the organization interacts with its customers, strategic partners, suppliers and other stakeholders
Class
Breakthrough: The introduction of the first of a new kind product, process or procedure.
Distinctive: A new member of the class of innovations created by the breakthrough
Incremental: A change to an existing distinctive innovation
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