OCTOBER 05, 2017 10:11 AM
As the saying goes, if you don’t know where you are going, it’s hard to get there. And it’s even tougher if you’re trying to change direction.
But the inertia of the status quo is often hard to break. Hence the value of strategic planning. For any organization, community or individual, the process of mapping out the future can be a constructive process – recognizing that there are invariably twists and turns along the way.
Getting to a more productive, purposeful place from the current present is what innovation is all about. Innovation is about coming up with new and creative ways of doing things that yield better outcomes. As the world changes, we need to adapt or risk falling behind.
Within an organizational setting, this means constantly improving one’s products or services to increase one’s competitive position and long-term impact. There is, of course, risk in this. If you kill off an existing product without having a proven new product, for example, then you can lose market position and valuable time and money. The same is true of jumping out of a job you may not like without a clear next step.
Balancing the risk of staying stuck versus moving forward into uncharted territory is what author Tendayi Viki calls building an “innovation portfolio.” In a recent article, Viki draws on a number of existing strategic frameworks for companies interested in maintaining their competitive edge. His work is equally applicable for individuals or communities committed to adaptation and progression.
To help cultivate an innovation mindset, Viki points us to Bansi Nagjii and Geoff Tuff’s Innovation Ambition Matrix, as described in Harvard Business Review. In short, there are three main types of innovation: core, adjacent and transformational.
Continue reading this article from the News & Observer.