3. Growth PlatformsThis area of focus refers to the selection, prioritization and communication (both internal and external) of new growth platforms and business concepts that promise to deliver long-term, sustainable competitive advantage. It is here, most especially, that high performers begin separating themselves from the pack by making the strategic distinction between effective innovation in general and the effective commercialization of innovation. Accelerating growth through innovation requires becoming more disciplined at identifying a company's innovation "center," as it were. For some companies, such as Apple, innovation generally flows from its products and services. Other companies, such as Wal-Mart, fuel growth through operational innovations. Business model innovation has helped drive companies such as eBay and Skype. Companies must manage growth from that innovation center, rather than from the periphery. Part of that commitment to innovation involves embracing new and disruptive ideas. Another important aspect is leveraging open innovation and open sourcing methods that bring together suppliers, partners, employees and management. Companies that effectively commercialize innovation also develop more risk tolerance when scanning for opportunities outside their immediate business environment. They become more willing to cannibalize products and services when investigating new growth platforms. They become more adept at the operational requirements of their winning concepts, leveraging current partners, networks, assets and distinctive capabilities to help drive growth through innovation (see "Leading by imitation," Outlook, January 2007). Finally, these companies know how to communicate their growth and innovation strategy, both within their company and to the marketplace. Like the old story of the tree falling in a deserted forest, future value that is not communicated effectively to the marketplace doesn't make any noise.

Here’s advise from Steve Jobs in managing in a downturn. "We've had one of these before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn, that we weren't going to lay off people, that we'd taken a tremendous amount of effort to get them into Apple in the first place -- the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that's exactly what we did. And it worked. And that's exactly what we'll do this time."

CIO Asia: What should organisations today understand about the nebulous concept of innovation?

business model innovation

nnovate your business model

How do you innovate a business model?   You can create new products and services within the current business model to drive growth.  Or you can create a new business model and open up a whole new world of possibilities for the firm.  Either innovate within the current game, or change the game.  But how? 

"To build a breakthrough business model that rivals cannot easily emulate, you'll need to integrate a whole series of complementary, value creating components so the effect is cumulative,"

corporate venturing

Time for firms to take new view of corporate venturing, BUSINESS TIMES Business Times Malaysia 07-05-2001 THE new economy has made it necessary to see corporate venturing in a new light, according to Accenture Business Launch Center. Corporate venturing is investing and leveraging on internal and external asse Business Times...

Corporate Venturing in Denmark This paper argues that Corporate Venturing CV, i.e. activities where an existing firm actively invest in a new start-up, is a much more widespread phenomenon in Denmark than official sources claim. In addition to large CV oriented corporations such as NKT and B&O, many medium sized firms and even quite...

Service innovation and change from within

Kelly Duffin-Maxwell, Senior Vice President, Breakthrough Innovation, Kraft Foods

Webank | Are people replacing institutions?

Is the democratic and social nature of the internet changing the way we understand finance?

While in the past web-enabled innovation in the sector meant online banking and web-access to front-end customer services, there is today a growing set of organisations which remove banks and other institutions as intermediaries altogether.   Welcome to the world of peer-to-peer finance.

Three types of web widget

Web aggregators, which provide site-centric widgets.

Pure plays, which provide portable widget containers.

How Strategic Imagination Happens

That's this: thinking differently about strategy is impossible - or, perhaps worse, that it's naïve.

Let's take a second to explore.

from my experience most social media consultancies are a waste of time, money and effort - a disproportionate amount of effort is placed on marketing (esp branding). most of the real strategic value in this medium is beyond purely the marketing function, and needs attention at a the central organizing function of the business. many of "social marketers" are far too obsessed with measuring brand. this is a BIG distraction imo. the interactive agencies lack the business rigor and corp strategy competency. SM is growing up - should be focusing instead, on achieving whole new levels of value. real step function increases.  a tip paul - my advise would be to pick a real GROWN UP innovation strategy firm. It's that important. It's not about selling the same old stuff, in a new way, but focusing further up the value chain. your precious contacts will thank you for it.