Innovation Strategy

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Innovation Strategy by Mind Map: Innovation Strategy

1. What

1.1. Determine business lines

1.2. Determine products or services

1.3. Establish a portfolio model

1.4. Rank order business lines

2. Why

2.1. Determine how much innovation is needed

2.2. Tie innovation to a strategy framework

2.3. Focus on innovation exercises

2.4. Use the framework to identify market

3. When

3.1. Schedule innovation workshops

3.2. At the front end of the business cycle

3.3. Schedule innovation workshops after the planning cycle

4. How

4.1. Choose specific methods

4.2. Combine different methods to leverage

4.3. Integrate the methods

5. Where

5.1. Set aside specific space

5.2. Specify purpose

5.3. Conduct innovation workshops

6. Objectives

6.1. Create customer value

6.2. Grow market share

6.3. Enter new markets

6.4. Increase profitability

6.5. Alter market and competitive landscapes

7. Who

7.1. Form innovation "dream teams"

7.2. Examine the company's innovation culture

7.3. Establish an innovation competency model

7.4. Designate and empower commercial leaders

8. Name: Yap Yeok Kar

9. Group: 21A

10. Matrix No: 171222061

11. Lecturer: Madam Nursakinah Abdul Karim

12. Title: Innovation Strategy