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Innovation Strategy and Portfolio Management
Digital innovation strategy includes both a company's process for developing new digital solutions and its approach for integrating these solutions into product portfolios or internal operations. Rapid
technological change is forcing companies in a wide range of industries to reevaluate their business competencies. Many require a digital innovation strategy to stay competitive yet traditional companies must overcome many organizational roadblocks. These include adjusting priorities, defining an effective organization structure to house new capabilities, adopting the right tools and processes, and building internal competencies and external partnerships.
Innovation portfolio management is the process of defining new opportunity areas and allocating resources to reach strategic goals. This process should be viewed as a continuous process in which multiple opportunities are in various stages of readiness, from ideation to deployment. Portfolio managers need both well-defined targets and an effective approach for validating business and technical feasibility and for developing and deploying solutions.
DURATION
Engagements typically range from three to six months.
LANGUAGE
English, Chinese, German
Information
Who is this for?
Seniority: C-1 (e.g., vice president, global head of X), C-2 (e.g., director, regional head of X)
Functions: Innovation (e.g., R&D, accelerator, CDO), Strategic (e.g., strategy, M&A, corporate venture)
Benefits
- Develop an effective strategy for developing digital solutions and integrating them into the existing product portfolio and operations.
- Define a scalable innovation funnel management processes, including key decision gateways and stakeholder responsibilities.
- Adopt effective agile and lean startup principles to accelerate time from idea to reality and to reduce the risk of organizational lock-in to weak ideas.
