Innovation is no longer about the big one-off idea. Innovation is about strategy. New ideas are important, but too often businesses neglect their innovation strategy. Developing an innovation strategy is essential to the long term growth and sustainability of any organization.

At CE Studios I developed an Innovation Strategy Chart. The purpose of this model is to develop a strategy of innovation which creates future experiences.

The Innovation Strategy Chart is divided into five parts. The four small parts (offering, environment, people, and time) are elements of the fifth, larger part (experience). In other words, experience consists of the interaction between offering, environment, people, and time.

The model also consists of three rings. The outer ring represents the past, the middle ring represents the present, and the inner ring corresponds to the future. The innovation boundary covers the edge of the inner circle. It is the boundary between present experiences and future experiences. Each new innovation changes experience and therefore moves through the innovation boundary, creating a new present and a new future. While there are only three rings in this simplified model, one could view it with an infinite number of past rings and an infinite number of future rings.

When using this model to create an innovation strategy consider how each element of experience can be altered over time as a part of the strategy. You may also want to create one version of the chart factoring internal influences and a second version factoring external forces such as your competition.

This entry was posted on Tuesday, January 1st, 2008 at 3:04 am and is filed under General Innovation, Innovation Concepts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.