How do you know that your Innovation Strategy is the right one?
Many strategy knowledge centers like Insead, Havard Business School and McKinsey Global Institute are publishing many white papers on how to design (Innovation) Strategies. Yes, it is good stuff, but the key hurdle for a successful Innovation Strategy is the implementation of the design.
During implementation you will face the daily hurdles of Business Transformation. When the ambition level of Innovation is high (like Blue Oceans or New Business Models) implementation will be harder proportionally.
During implementation of an Innovation Strategy you also will experience the speed of changes in the assumptions you made in the design phase of the strategy. You need to go for a Strategic Scenario Thinking approach. This approach enables you to translate different trends and business drivers into you Innovation Strategy.
If significant changes occur you have already alternative scenarios in hand. Each scenario will indicate the need for adaption of your Innovation Portfolio as well.
Together with Daan Giessen, I build an approach to challenge your Innovation Strategy and the way you can adapt your Innovation Portfolio: