Changing market landscapes have and will continue to be a constant reality in business. Whether that is due to customer demand, your competition, economic factors, new technology or a global pandemic. Businesses that quickly innovate to identify strategic opportunity spaces, experiment with alternative solutions and act quickly are better positioned to maintain and accelerate their business through any changing environment.
Where should corporate innovation teams begin to identify the strategic opportunity areas – especially during transformational times? They can start by taking a closer look and reevaluating the innovation pipeline. Take the time to reprioritize each initiative, identify those that will drive business results and implement new ideas quickly while reducing risk.
Teams should activate quick win opportunities that are aligned with strategic business priorities in order to create tangle results – whether that’s in 4 months or a year. Demonstrating quick wins that deliver key business value support building trust and building the identity of the team within the organization. Successful quick win projects also create program momentum and develop openings for longer horizons of time business initiatives. Innovation projects that can deliver rapid results through quick wins are an important component of the overall innovation roadmap and portfolio.
N³ Innovation’s mission is to help corporate clients create measurable enterprise value by inventing the future. Clients have generated millions of dollars of revenue in new markets, with new products and new technologies.
Want to learn more about how to quickly innovate your business models to ensure business continuity in times of change, contact us today!