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Innovation Strategy

Duration: 2 months

Short description: For many years we believed that innovation is mostly a product of culture, creativity, some luck or extraordinary innovators that happened to stumble on an idea. These are all true but similarly to any other business activity, the first thing you need is a strategy.

Spyre’s Innovation strategy is based on our ecosystem model, composed out of a vision statement, a structure of the innovation system and the entrepreneurial processes that enable the creation of high risk Innovative solutions to the organization’s challenges.

Why our clients love this:

  1. Our strategy for executing innovation works and it fits the specific organizational needs like a glove
  2. The strategy is clear to them, we do not hand out booklets that no one reads, but knowledge, conclusions and clear processes
  3. We build the strategy in business terms and in the language the organization connects to. The sole purpose of the strategy is to create innovation, not to change the organization.

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.