Innovation Strategy and the Strategy Choice Cascade.

Innovation Strategy and the Strategy Choice Cascade.

 

Innovation is key to creating new ideas to develop into projects as a part of your business. This is the creation of value that is good enough people will be willing to pay to receive the product or service. Innovation Strategy is how to build innovation, bringing out the idea into the real world. This includes Research and Development, finance, and marketing. This is the process where we need to create a map on the mission taking into consideration the business belief, the vision behind, value proposition, customer group, and boundaries. This map will set up the basis of the innovation strategy, the drafting process, creation, improvements, establishment, and creating customer demands.

 

Your business objectives should go hand in hand with the innovation strategy. This will boost operational efficiency when all business assets operate as one. The strategy has to contribute towards the main goal of what you are doing. Be aware of how this specific innovation will help to achieve the main goals. Start by analyzing how the strategy development can go by distinguishing the preferred steps to take. Then provide reasoning for each option and choose one that makes the most sense, while still possible to apply. Playing to Win by A.G. Lafley and Roger L.Martin presented a solid framework for strategic choices called the Strategy Choice Cascade.

 

The cascade is a series of 5 questions that include, 1. What is the winning aspiration (goals)? In this step you must consider what the main purposes of the enterprise are, this is your guiding aspirations (goals). 2. Where will we play? You will need to choose the game field, this is where your geographies, product categories, consumer segments, channels, and stages of production will be. 3. How will we win? The right to win taking in value propositions and competitive advantage. 4. What capabilities must be in place? Capabilities required in the strategy, reinforcing activities, and specific configuration. 5. What management systems are required? Support systems, structures, and measures necessary to support the choices made.

 

By Mr.Yossapat Paramatkitjakan.

Founder / MD / Business Innovation Trainer & Intellectual Property.

IP ASIAN COMPANY LIMITED.


 


References

 

https://hbr.org/2015/06/you-need-an-innovation-strategy

 

https://www.viima.com/blog/innovation-strategy#what-is-innovation-strategy

 

https://availagility.co.uk/2017/07/14/strategy-deployment-and-playing-to-win/


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