Innovation Management Strategy

The role of board and management: It is important to get understanding of board and management right so that the middle management can compete effectively over the long term. However, developing and executing a successful innovation initiative, from strategy to execution is of a complex nature. Innovation strategy is a curated balance between the past, present and future, and it involves many stakeholders.

Numerous Business Questions: In the multi-faceted innovation world, some of the questions business leaders would need to explore and think about includes:

• A clear view of what aspects matter to boards, executives and stakeholders
• Why it matters to boards and executives
• How this interacts with the organization's innovation team(s).
• What type of innovation strategy should be employed in the context of the competitive environment and the nature of the business?
• What is the risk appetite of the organization in pursuing growth?
• What are the learning plans that should be undertaken in pursuit of the selected innovation strateg(ies)?
• How should senior leaders and middle management tick and tie the various aspects of the organization to deliver the impact executives and the board expect?