How To Create a Strategic Planning Process for Innovation

How To Create a Strategic Planning Process for Innovation

Product portfolio management is a crucial skillset for tech companies, yet many fail to effectively manage product concepts in the early stages of development. By thinking of concepts as an asset and utilizing a strategic planning process, decision-makers can converge on the best opportunities for successful product launches. The process connects long-term goals to everyday management of product concepts, resulting in budgets that align with the overall strategy. A governance body with oversight of key functions should be selected to make decisions around product concepts and evaluate criteria for each. The annual strategic planning process should link to a shorter-term front-end management system to handle day-to-day decisions.

View

More Innovation Resources:

Sweet Innovation - The Chipwich Story

Sweet Innovation - The Chipwich Story

Richard LaMotta, the inventor of the Chipwich ice cream sandwich, used guerilla marketing tactics to take it from a retail confectionary store to selling 200,000 per day across the country. Despite challenges, LaMotta’s innovative approach established a new product category for handheld ice cream.

View
The Rise of the Chief Innovation Officer

The Rise of the Chief Innovation Officer

The position of Chief Innovation Officer is gaining importance in the business world due to increased competition, tightened budgets, and new technology. The CINO is responsible for identifying areas of innovation and creating an environment that enables innovators to operate effectively.

View

Unleashing Breakthrough Innovation in Government (SSIR)

View