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Strategy innovation is not a fad. It is not the latest management program-of-the-month. It is a process of exploring your emerging future, understanding the changing needs of your customers, and using the insights gained in those explorations to identify new business opportunities for your company. That’s it. Whereas many management programs help you shrink your costs to grow your bottom line, strategy innovation is aimed at growing your top line.
New business opportunities help drive new company strategies, which drive future growth. So, why aren’t more companies doing strategy innovation? Because they don’t have an internal structure or process to do it. Who in your company is responsible for the future? Who is feeding your strategic planning process with ideas that stretch your current strategy and get you into new markets? How are you going about identifying your next new business platform, the basis of your future growth and success?