The gap between corporate strategy drafted and the innovations to support the same, is an aspect of business troubling several organizations. While companies are willing to try out business innovations for future success, few are aligning the same towards their present business requirements or the company mission. The alignment between the two is missing. That is why a three-horizon framework is needed to bridge the gap. For this, a clarity in purpose needs to be decoded, with proper procedure for tracking and exploring ideas. An innovation master plan needs to be devised by each firm serious at executing it. A matrix system known as the Executive Innovation Work Mat has been developed by researchers with collaboration from Ovo Innovation. The purpose of this is the alignment between innovation and the company strategy.

Source:http://innovationexcellence.com/blog/2018/02/06/the-essential-connection-between-strategy-and-innovation/

Uploaded Date:19 February 2018