Without a clear enterprise-level framework for establishing growth priorities, metrics, strategies and investments, the innovation efforts of individual business units and new ventures groups can fall short of corporate goals. For example, recent research indicates that only about a third of Fortune 1000 companies possess clearly articulated innovation metrics to drive the types of behavior that lead to beyond-incremental growth. It is senior leadership’s responsibility to define such metrics, but without a forum for driving the company’s ongoing innovation-focused strategies, short-term issues and fire-fighting activities overshadow more strategic agendas and decision-making.
Questions that keep you awake at night:
- How should we formalize an approach for steering innovation priorities and internal capabilities to drive growth?
- What are the metrics that should drive our enterprise and business unit innovation strategies?
- How should we establish and instill capabilities for identifying, evaluating, selecting and commercializing the most promising opportunities for our company?
- How should we collaborative ly define and evolve our portfolio to tap into the most promising growth opportunities?
InnovationPoint helps executive-level teams create and manage external Venture Boards – forums that build a new leadership capability for establishing strategic priorities that drive growth for your company. We provide proprietary tools for helping your leadership team collaboratively establish a robust innovation and growth strategy. And by involving outside “member advisors” in your venture board, it becomes possible to create a forum for challenging orthodoxies and assumptions, pushing boundaries and identifying new opportunities for the organization.