strategic innovation
DESCRIPTION
What is Strategic Innovation? Is it different from Strategic Planning? Why it is important?TRANSCRIPT
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Strategic Innovation
Nuttaputch Wongreanthong@nuttaputch
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Agenda
• What is Strategic Innovation
• Strategic Innovation as a new game strategy
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Strategy
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Strategy is about winning
Strategy Is A Company's Game Plan For Winning, Either By Competing On Scale, Speed or Special Relationships.
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Game changing of Product /Services
Strategic Innovation Is A Company’s Game Plan To Win By Changing The Game.
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‘studying historical data and making extrapolations for the future’
it relies on the assumption that the future will follow like the past
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That’s why it’s so important to find someone who...
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Strategic Planning Strategy Innovation
Analytical Creative
Numbers-driven Insights-driven
Company-centric Market-centric
Logic/Linear Heuristic/Iterative
Today to tomorrow Tomorrow to today
Extend current values Create new values
Fit the business model Create a new business model
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Component of Strategic Innovation•Develop Industry (and Technology) Foresight: Which changes
happen in the Industry, are the value chains being reorganized (vertical or horizontal), should the business concept needed to be redefine.
•Develop Deep Customer Insight: Which values, feelings and attitudes amongst end users are important?
•Develop New Value Propositions: A Unique Value Proposition (UVP), which is one of the most essential elements of a business strategy. A UVP is a succinct statement of the uniqueness of a business that sets it apart from all competitors. Without a UVP, a company risks becoming lost in a sea of similar businesses.
•Develop New Capabilities: These are the new skills and knowledge enables a company to deliver unique value to customers. It embodies an organization's collective strengths, particularly of how to coordinate activities and integrate multiple technologies.
•Refine or Develop New Business Model:
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Strategic Innovation=
New Game Strategy
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New Game Strategy is ...
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set of activities that creates and/or appropriates value in new ways
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•Product Innovation•Delivering existing product in new ways•Better positioning firm
New Ways?New Game?New Value?
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It’s about something....
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Follow the rulesor set the rule?
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It can be done in ...
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Technology•Patents•Product/process choices•sources
Product Design•Aesthetics•Function•Quality
Manufacturing•Assembly•Capacity•Location
Marketing•Advertising•Brand•Price
Distribution•Channels•Integration•Inventory
Service•Prices•Speed•Warranty
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5 Questions to be answered
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•Which activity to perform?•When to perform?•How to perform?•Where to perform?•What to expect as output?
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Activities
•Firm performing the right activities?•Does it have what it takes (resource / capabilities) to activities?
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Value
•Is the value created by the strategy unique, as perceived by customers, compare to that from competitors?
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Appropriability
•Does the firm make money from the value created?
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Changes
•Does the strategy take advantage of change (present or future) to create unique value and/or position itself to appropriate the value?
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Strategy Activity Value Appropirability Change Consequence
1 Yes Yes Yes YesSustainable competitive advantage
2 Yes Yes Yes NoTemporary competitive advantage
3 Yes Yes Yes/No YesTemporary competitive advantage
4 Yes Yes No NoCompetitive
parity
5 No/Yes No Yes NoCompetitive
parity
6 No No No NoCompetitive disadvantage
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Case Study
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