A simple way to assess a company’s innovation strategy

How can a company ensure that its innovations add value and align with overall company strategy? Marcos Eguillor suggests a simple but invaluable framework to get you there.

Go to the profile of Marcos Eguillor
Nov 26, 2016

Any innovation strategy must address different areas of the business over different time periods. In our map, the horizontal axis distinguishes short-term innovation (usually focused on P&L issues such as cost reduction); medium-term innovations (e.g. growth issues such as new niche markets); and long-term innovations (usually focused on the brand). The vertical axis shows which areas of the business areas will be affected, ranging from business processes at the bottom of the chart to the business model at the top.

This map will reveal whether your innovation projects are too narrowly focussed. An effective innovation strategy has projects that fill most if not all the squares, with greatest disruption potential (marked in red) likely to occur where business model innovation is achieved over the long term.

Go to the profile of Marcos Eguillor

Marcos Eguillor

Entrepreneurship Professor, IE Business School

Professor Marcos Eguillor is an entrepreneur, founder and Managing Partner of BinaryKnowledge. He has helped several start-ups of the digital sector. He possesses a broad international experience, mainly focused on the Digital Ecosystem, in product design and development, innovation, business development & strategy, project management and technology strategy.