Strategy is the foundation for any business activity and the key to success. Strategy starts with the reason we are engaged in innovation. Then comes the vision, which is the central goal to which we aspire. What follows are the components required to achieve this vision and finally the work plan and tools that will be adopted.
The structure of the strategy is based on Spyre’s innovation ecosystem model, thus enabling the proper handling of the various components that take part in operating the innovation system.
Infrastructure – Strategy first defines how the entire organization benefits from innovation, what strategic goals the organization will help achieve and what the organization will look like on the day this strategy is implemented.
As part of the infrastructure, we will also define which management resources will be devoted to innovation, and we will design an organizational structure for the innovation system. In addition, we will define goals for the innovation system that can be presented to management, thus enabling feedback on innovation activities.
Implementation – The innovation strategy will define in which tools the innovation system will realize the organization’s goals. We will define which entrepreneurial tools will be used, what value the organization will give to startups outside the organization, what positions and skills will be applied and more. As part of the strategy we will define the milestones in each entrepreneurial process, the products and results that must be submitted at each stage and we will define a mechanism for connecting the entrepreneurs and the business units.
Knowledge – As part of the Innovation Strategy report we will define how the organization conserves and leverages its knowledge in order to develop groundbreaking solutions in a minimal amount of time. We will define who the relevant experts inside and outside the organization are, we will formulate a program for community management and maintaining high engagement. In addition, we will define the proposed training system for innovation leaders, managers and executives, in order to develop a uniform language throughout the organization and enable support for projects in a way that will empower them to properly balance high potential impact and risk.