Getting the Balance Right:  The innovation ecosystem, Infographic | A New Paradigm of Development | Scoop.it

"The right innovation mix, core, adjacent, and transformational  depends on your business and your needs."

 

Excerpted:

 

There are three main components of an organisation’s innovation ecosystem. Getting the balance right between these three components is crucial:

   

1) Balance/Mix of innovation types

  

2) Structure (process, capabilities, culture, funding)

   

3) Metrics & tracking

 

Core innovation is the largest amount of effort (70%) ...typically more incremental improvements

  

Adjacent innovation, riskier.  can involve taking existing products to new markets or, more commonly, developing value-add products or services to existing core     Transformational innovation, highest risk - new products and services, new markets – big changes to the business

 

Read the full article here.


Via Deb Nystrom, REVELN, Robin Martin, U-M Human Resource Development