I am going to explain each of these 7 dimensions.
1. A Managed Innovation Process.
A managed innovation process is at the creative core of strategic innovation. By managing innovation and looking beyond what is obvious, it is possible to influence and inspire members of the team and explore lots of different pathways and try and find new possibilities.
2. Strategic Alignment.
Strategic alignment is the enthusiasm and support between the key stakeholders to stimulate the organisation and ensure that they are focused on the same visions, goals and actions within the company.
3. Industry Foresight
This industry foresight helps for people within the company to understand what drives change and to identify trends that are new to the business and its business area. It also helps to identify new technologies that could benefit the business, and to think outside the box.
4. Consumer Insight
Helps to give a perspective and understanding of what the customers needs. Both what the customers have said, and also what they haven’t.
5. Core Technologies and Competencies
These are internal and organisational capabilities within the business which could be extracted and put to good use. These capabilities could deliver satisfaction to customers, and also help improve brand equity.
6. Organisational Readiness
Being organisationally ready helps a company to act upon new ideas and implement new strategies quickly and organised. Being organised also helps when managing the operational and financial demands that will follow when using innovation.
7. Disciplined Implementation.
When implementing these new ideas and strategies, its effectiveness will be dependant on how disciple a company have been when going forward with this innovative idea.
This strategy has helped me understand more about innovation. I hope it does the same for you.
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