Direct your innovation efforts
The most essential question business leaders struggle with is where and how they will deploy their limited resources to stay relevant and grasp opportunity in an ever-changing world. We help you to determine your innovation strategy to decide, in a cumulative and sustainable manner, on which type of innovation will help your company gain competitive advantage.
Why we do it
The most essential question business leaders struggle with is where and how they will deploy their limited resources to stay relevant and grasp opportunity in an ever-changing world. Extensive research and over 200 strategic innovation projects have taught us that innovative companies:
- Stay connected with a changing world, beyond their own industry and rightly recognise opportunities;
- Are able to generate creative new solutions and smart combinations beyond product /service innovation. Innovation is every one’s business, not just of the R&D department;
- Focus on business of tomorrow and not of today. Successfully determine their risk appetite and really commit to long-term strategic choices even when these conflict with short-term business interests;
- Manage and build their product portfolio in a sustainable manner, so that product /service succession will ensure continuous growth and competitive advantage.
How we do it
Working alongside senior leaders, Deloitte consultants will explore how a changing world will impact your business and industry, and where in a seemingly chaotic landscape lies opportunity:
- Outside in – determine the fundamental strategic choices, opportunities and challenges that impact your business based on market research and innovation theory;
- Inside out – obtain a detailed understanding of your current strategy, innovation value chain, assets and gaps;
- Develop your innovation strategy – build consensus around your company’s innovation ambition (level of possibility and risk), innovation strategy roadmap, size of investment, criteria and expected returns;
- Implement your innovation portfolio – propose Innovation Portfolio and framework for prioritisation and diversification of new products/services, markets and smart combinations.
What methodologies we use
Disruption theory was developed by Prof. Dr. Clayton Christensen and our Deloitte colleague Michael Raynor. This theory allows us to assess whether or not new technologies, products and/or services can potentially disrupt certain markets.
Deloitte’s Strategic Innovation Methodology allows Deloitte to gain insight into the client's capabilities, prioritise strategic options, and build consensus around the innovation strategy. This methodology has been developed in collaboration with the University of Hasselt and has been applied to +200 companies.
Innovation in your system is much broader than just product innovation – hence successful solutions need to enfold multiple types of innovation. Ten types of innovation model was developed by Deloitte/Doblin consultants.
The 3 Horizons model allows the organisation to manage its ambidexterity, since it provides an excellent mould to formulate an organisation’s product and service portfolio strategy. The framework allows for evaluating the health of a product/service strategy pipeline and for setting up the alignment of short, medium, and long-term plans of a company.