Develop realistic action plans for growth.
There is no such thing as a one-size-fits-all solution for corporate innovation.
Not sure which innovation lever to pull?
- Departmental Innovation Team(s)
- Shared Innovation Team
- Corporate Innovation or R&D Lab
- Corporate Venture Capital (CVC)
- Startup Partnership Program
- Accelerator or Incubator
- Developer Engagement Programs
Innovate with Intent.
What does the innovation team actually do and how do you measure success? Identifying how your team is different from the other core business groups, what rules you adhere to, and where you have the flexibility to challenge “how things have always been done” are all critical aspects of the innovation Charter. That’s why ID8 helps its client design (or refine) a governance model that creates internal alignment around the process of innovation.
Successful innovation teams are focused on a handful of strategic priorities at a time, and are designed to move from one priority to the next as they achieve their initial goals and as new priorities emerge. To develop effective solutions, large markets opportunities need to be broken down into concrete, addressable ‘challenge’ statements. ID8’s clients approach the Focus Area identification process deliberately and find themselves well positioned to obtain high-level support for key initiatives.
The innovation team is not designed to accomplish company wide growth in a silo. ID8 facilitates workshops and discovery exercises with executives and key stakeholders to help them articulate their vision about where they want to take the business, as well as what is preventing them from getting there today. This communication as the input for prioritizing Innovation Focus Areas, and allows an Innovation Team to be proactive in finding solutions and ideas that advance those goals.