Strategic planning has shifted to strategic innovation. And it’s more necessary than ever as customers expect more and problems are more complex and intertwined than ever. CEOs need to lead strategic innovation the right way or risk making the situation worse. First, you need to take stock of where you are and what’s the target of your innovation efforts. Decide to do things differently and take baby steps. Ultimately, there’s a process that startups and corporations know and do, but mid-sized companies that are the last to embrace this way of working will do so at their peril.
Innovative Examples of New Ventures in the Climate Economy
The Climate Economy is growing because it’s profitable to protect the planet. An endless array of opportunities exist for businesses to develop products and services that contribute positively to environmental sustainability. Companies aren’t just reducing their carbon footprint, they’re creating products and services that are tools to reduce or eliminate carbon emissions and replace fossil fuels. From manufacturers & food producers to tech companies & energy providers, there’s a plethora of new ventures that are winning with products and services designed for the climate economy.
Generate More Valuable Ideas
Where will growth come from?
There’s a proven process for creating new value. The process starts with customer insights, which are used in the development of creative ideas worth pursuing. Next, you prioritize a set of best choices and move forward in increments - small, iterative steps, to test and validate your best options. Lastly, you need some traction metrics to confirm the solution will produce the intended impact. These are the four I’s of Strategic Innovation: Insights, Ideas, Increments, & Impact. Learn how to spark ideas that will lead to strategic growth.
Harvest customer insights at events
Customer insights methods get more sophisticated
You need a reliable stream of objective customer insights to guide strategic business decisions. The big guys are pouring money into tools to get inside our heads and understand exactly what we want. There are lots of opportunities to make better products or services. You just need to figure out which opportunities are right for your market. And even in a down economy, customer expectations aren’t going to retreat.
How to carve out time for strategic and creative thinking
Some people cherish the last week of the year because they get left alone and finally have a chance to think strategically. Oh no! It needs to happen regularly. Here’s why and how.
You get to decide when to allocate time for strategic thinking, planning, and creative problem-solving. Here are 5 things you can do to carve out more time for creative and strategic thinking.
Innovation - Why, What & How to get started
Innovation and growth go hand-in-hand. Sustainable growth requires a great product-market fit that customers will rave about and spread organically. Consider these 5 reasons why innovation is so critical right now. Understand the 4 basic components of innovation. Identify a simple way to spark creativity and get started now with something small.
The Future of Strategy
Right now, there’s no better way to grow a company’s impact than with innovation. Business growth opportunities depend on creativity, innovation, and implementation. I believe in simple starting points. You need to create a spark.
Your team has more innovative, creative potential than you might realize. It just needs to be fueled and ignited. Here’s how you could get started in 4 hours.
What to know about innovation
There are many misconceptions about innovation. What does good innovation look like? What kind of leaders are most in need of innovation support? If you are in search of growth opportunities, you need to know the basics of what to expect from your team and what an innovation process should look like. Here’s a place to start.