Getting the Balance Right:  The innovation ecosystem, Infographic | Innovation & Institutions, Will it Blend? | 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


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