Shareholders and board members are demanding a vision for the future and an innovation strategy to get there. This article helps you with innovation definitions!
Blockbuster CEO Jim Keyes said in 2008, Neither RedBox nor Netix are even on the radar screen in terms of competition Holding on to the status quo is not a strategy it's a recipe for drowning in a wave of disruption. Go innovate often translates to go do stuff without any guarantee that the stuff is even relevant in the industry. Just about anything.
When the strategy is innovate, the implementation of that strategy looks a lot like process. All the buzzwords come out to play. The innovation steering committee meets once a quarter. We do our portfolio mapping. We set up a stage gate process for our brand new corporate accelerator.